CIB – F&BM – VCG Rates Exotics – Associate/VP
Group description:
Valuation Control Group (VCG) is an independent control group which works in partnership with the business to ensure that the valuation of the firm's products and portfolios are both independently and fairly marked and that fair valuation processes are operated accurately and robustly. Valuation Policy Group is also solely responsible for setting reserve policies and methodology's as well as monitoring compliance to policies to ensure appropriate level of reserving in the business. The group forms the primary interface for discussing valuation issues with the Front Office, but retains reporting lines through the Finance Risk management chain.
The role is based in London. Product mix is very broad and will cover vanilla to highly structured interest rate derivatives. The focus will be on valuation.
Job Responsibilities
• Ongoing monitoring of risk exposures, concentrations and market activity across the business to understand impact on reserves and parameters calibration in the book.
• Driving efficient execution of key processes around Reserve Substantiation Reporting, PL Analysis and Price Testing
• Play a central role in providing month-end prices to the Totem service on a wide range of products, with particular focus on rates products (Bermudans, accreters, complex swaps)
• Work on projects to develop innovative, new risk measures and implement best practice methodology for fair valuation and reserve methodology
• Validate and resolve price testing issues
• Review 'approximately loaded' trades
• Perform/validate monthly stress testing and participate in analysis of business results as well as contribution to aggregate stress results
• Follow interest rate markets closely and ensure that reserves, PL and market moves can be triangulated on a day-to-day basis
• Ah hoc projects and value – added analysis
Qualifications:
Skills/Qualifications
• Bachelor degree required, Masters preferred
• Good existing knowledge of interest rate markets and derivative products in general
• Familiarity with Totem service. An ability to use core business systems (eg. Kapital) to generate prices for vanilla and exotic products would be beneficial
• Track record of dealing with Front Office and coordinating with wide variety of other control groups
• Excellent written and spoken communication skills
• Commitment to getting things done to tight timeframes and detail focused
• Ability to work with limited supervision and be able to reach appropriate decisions / conclusions
• Strong commitment to learn and operate outside of comfort zone
• Advanced competency in Excel
• Competency in VBA beneficial
Career Development
Working in VCG will give the successful candidate the opportunity to work alongside very intelligent, numerate and knowledgeable people in a global group that covers the entire spectrum of financial products. It is an ideal place to get a bank-wide perspective of the various groups, businesses and products that make up the Investment Bank.
The candidate will be encouraged to develop the technical skills required in the role, including advanced Excel skills as well as becoming familiar with several of the risk systems used by the bank.
The candidate will develop a detailed understanding of rates and rates exotics. Furthermore, the candidate will have exposure to senior management in FO, MO, CFO, and Market Risk.
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 www.jpmorgan.com.
JPMorgan Chase Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase Co. is an Equal Opportunity Employer.
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