CIB – F&BM – EMEA Equities Product Controller – Associate
The EMEA Equities business is split into several core businesses.
Delta One – Main activities include Index Forward Trading, ETF market making and providing performance to clients through Swaps.
Flow – Predominantly a Options market making business offering various Options based solutions to clients
Exotics – Providing complex structures and products to meet client's needs.
Hedge Funds - Providing Hedge Fund performance to clients through various products.
Corporates – Predominantly offers clients bespoke Equity based financing structures and products.
Converts – Predominantly a Convertible Bond market making desk, with CDS and Interest Rate hedging.
Cash – Main activities are Agency and Risk trading for clients, predominantly a commission based business.
The role will be within the EMEA Equities Product Control team supporting one or more of the above core businesses.
The primary function is reporting the daily PL to traders and senior management. In addition to the production of the daily PL, the role will include the Financial and Control elements, as well as working on projects within the Product Control space. The role requires extensive interaction with FO traders, Financial Control and Operations, as well as exposure to Market Risk and Project teams, and various other functions through out the bank.
The EMEA Equities Market Risk Reporting (EMRR) team serves as the Equities face to corporate Market Risk Management globally. EMRR functions as a reporting and control unit for the market risk generated by the Equities business, in which the products include cash equities
equity derivatives, convertibles, and some credit commodity products. In this role, there is daily interaction with the front office and market risk functions.
The primary responsibilities of the Control team are:
• Substantiating and reporting by greek the MTM and Mark To Theoretical PL on a daily basis, adjusting price and position breaks where appropriate.
• Greek exposure reporting and PL recs
• Substantiation of exceptions between Balance sheet / GL and Front Office systems.
• Month end FX trade in/out management
• Involvement in projects and process improvements specifically around PL and risk reporting, product development and pricing.
• Provide accurate and timely equities portfolios market risk analysis
• Enhance reporting processes through self generated methods
• Work with Market Risk to ensure portfolio risk is correctly reflected in VaR
• Monitor exceptions in derivatives pricing and reflection of these in greeks, stress scenario generation, and limits reporting
• Generate and analyze VAR for various Equity Derivatives desks
• Proxy Checking: If larger exposures are being proxy'd, investigate whether the timeseries is viable and present the case to turn it independent
• Error Checking: Monitor the (soon to be built) tool for checking issues with independent timeseries that necessitate turning the name back to proxy
• Spike / flat monitoring: Monitor moves and present the case to smooth/roll data
• Generate risk reports and investigate risk reporting related queries
The role will require front to back view of control agenda and the candidate will have oversight of monthend reconciliations performed by Financial Control hub, and production of monthend MIS reporting for senior management.
Qualifications:
Qualifications:
• Cash and Derivatives product knowledge, including understanding of the Greeks.
• Good knowledge of Accounting, preferably within the Banking industry.
• Proactive approach to problem solving and ability to identify and drive though change
• Strong analytical skills and attention to detail including a strong control focus
• Excellent communication skills and ability to develop strong working relationships
• Intermediate Excel skills as a minimum
About J.P. Morgan's Corporate Investment Bank
J.P. Morgan's Corporate Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at http://www.jpmorgan.com/ .
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