Client Clearing Collateral Services Representative – JPMorgan
The Collateral Services Team currently support client facing collateral functions for the Investment Bank’s OTC derivatives bilateral book. The team also supports collateral calls for OTC Cleared derivatives and going forward will deliver consolidated margin servicing where overlap occurs for FO clients. The successful candidate will be a Bournemouth based member of this team responsible for margining activity.
Department Description:
As part of the Investment Bank’s Global Collateral model the EMEA Collateral Services team provide a controlled environment for the mitigation of counterparty risk via the monitoring and collection of collateral.
EMEA IB Collateral Services team is primarily responsible for:
- Management of a portfolio of clients, providing consultation and expert advice.
- Facing internal and external clients, to involve resolving relationship issues and significant client matters on behalf of the business.
- Issuance, receipt and monitoring of margin calls in accordance with the terms of the collateral agreements for OTC Derivatives.
- Resolution, control and escalation of collateral disputes and fails to senior management and credit risk teams.
- Recording, reconciliation and control of cash or securities received/posted as collateral.
Key objectives of this team will be to provide clients with the option of receiving single consolidated reporting/statements, a single funding point for settlement activity and a single point of contact for supporting daily activity across Derivatives Collateral Management, Derivatives Settlements and FO. The Client Service Representative will deal primarily with buy-side clients (Hedge Funds, Investment Advisors/Asset Managers) and will develop partnerships internally with various Marketers/Salespeople, individuals in Prime Brokerage, Credit Executives, Middle Offices, and Line of Business Operations Teams.
Role Description
This role will report to one of the Margin team managers in Bournemouth and be responsible for a combination of the following;
- Continued development of the Clearing Client Service offering
- Client Onboarding/Testing effort as required
- System Testing/User Training
- Providing a flexible approach in order to support the prime brokerage/clearing businesses in a continually changing market environment.
- Ad-hoc Data manipulation/analysis
- High level of customer interaction.
- Generating collateral statements and sending calls to clients for both standard and non-standard agreements. Timely follow up of all calls made by JPMorgan.
- Answering of incoming collateral calls sent by clients comparing them to JP Morgan's exposure.
- Agreeing on the amount and type of collateral to be moved.
- Follow up on any counterparty fails.
- Reconciliation and dispute resolution with regards to large disputes or credit sensitive customers.
- Agreement of coupons due on securities held as collateral.
- Month end tasks including the agreement of interest on any cash collateral held/delivered.
- Timely resolution of incoming queries regarding a client’s portfolio.
- Escalation of issues.
Essential Skills:
- External Client services experience, or similar experience interacting with senior/demanding internal clients.
- Working knowledge of OTC Derivative products, Futures and Options, or similar background.
- Problem solver with the ability to assist in the development of solutions for clients.
- Proven experience of effective relationship building with a wide variety of stakeholders, for example; Clients, Credit Execs and Business Partners.
- Must have a proven track record of providing advanced client service.
- High level of accuracy and attention to detail is required.
- Ability to work with minimal supervision.
- Excellent client communication skills and telephone manner and a strong ability to build client relationships.
- Must be highly numerate with good keyboard and core system (Outlook, Excel, Word) skills.
- Strong Risk and Control Awareness – with the ability to push back on stakeholders when risk/controls could be compromised.
- Must possess heightened communication skills, as the role involves detailed interactions across multiple lines of business and core processing areas.
- Strategic thinker, able to review and implement process improvements.
Desirable Skills
- A European language would be helpful
- A deep knowledge of OTC Derivatives, FO and/or Fixed Income products.
- Knowledge of Collateral Management for OTC Derivatives and FO products an advantage.
- Direct User experience of Sungard’s GMI platform would be an advantage.
- MS Excel – ability to analyze data effectively using excel with an ability to write and manipulate macros.
- Business Objects reporting – experience of building/modifying reports for management information/analysis an advantage.
This is a 6 month temporary contract initially paying a competitive daily rate. You shall be based at JPMorgan's stunning Bournemouth campus on the South Coast.
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