Direct Custody and Clearing – Asset Servicing and Client Services Manager – Malaysia recruitment
WSS Securities Operations is the function that provides both Custody and Clearance processing on behalf of the J.P. Morgan clients. Custody includes trade settlement and servicing of securities on behalf of clients whose funds are held in custodial care. Clearance and Agency deliver clearance, collateral management, depositary receipts, deposit products and asset servicing products to governments, corporations as well as individuals.
J.P. Morgan is embarking on a significant Direct Custody and Clearing (DCC) program which will provide direct access to a number of local markets globally for Clearing, Settlement, Custody and Asset Servicing. A regional hub and spoke operating model will be deployed as part of the overall solution leveraging existing WSS Operations capabilities where possible.
Overview of Role
DCC Asset Services is responsible for the accurate and timely processing of different corporate event types in the local Malaysia market. The department interfaces directly with the local market entities including depositary, counterparts and regulators as well as JPMorgan lines of business including TSS and Investment Bank and third party clients.
The successful candidate will be responsible for a department accountable for the capture, analysis and notification to clients of event information and deadlines, reconciliation and execution of client instructions to the market and reconciliation and posting of clients' cash and stock entitlements.
Key Responsibilities:
Business As Usual Management
- Operational management and control of the daily workflow within the Asset Services and Client Services team
- Maximise team capacity through effective resource planning and ensure team structure is robust through effective training and succession planning
- Ensure all daily controls and processing are completed and signed off including client service enquiry resolution, cash and stock break management as well as event management
- Ensure all key metrics are produced as required
- Own issues related to the Asset Services Department and ensure timely escalation to both Operational and Risk leads
- Ensure all team members adhere to global escalation policies, maintain up to date awareness of risk policies and procedures, attest to operational procedures at required intervals and actively comply with ethics and behaviour standards
- People Management - provide direction and leadership to the team. Ensure all staff members receive documented 121's and provide a succession plan for the department. Provide effective communications to the dept, ensuring staff are aware of strategic and regulatory changes in the organisation
- Strengthen the Asset Servicing Team to minimise risk and maximise efficiency to facilitate growth
- The applicant will be required to work as part of the wider team, to ensure the smooth running of the overall department, meeting business targets and departmental objective
- Maximise team capacity through effective resource planning and ensure team structure is robust through effective training and succession planning.
- Ensure all daily controls and processing are completed and signed off including client service enquiry resolution, cash and stock break management as well as event management
- Ensure all key metrics are produced as required
- Act as point of escalation for both internal and external parties
Leadership
- Represent JP Morgan Direct Custody Clearing with internal and external clients, promoting the strategy, products and capabilities of the department. Participate in Investment Initiative prioritisation meetings. Support operational partners in Worldwide Securities Services with strategic initiatives across the department
- Contribute to the strategic development of the Direct Custody Clearing product. Identify key areas of opportunity, creating robust business cases and ensuring appropriate levels of analysis are undertaken. Implement the project structure and governance required to deliver on the agreed strategy
Further Function Specific Requirements
- Promote culture of early and timely escalation, ensure root cause analysis undertaken for all operational incidents and follow through with all recommendations. Actively manage risk items and continually evidence compliance with key controls
- Work closely with the DCC Hub Announcement Capture team to ensure events are set up correctly in a timely manner
- Work closely with the DCC Hub Announcement Capture team to deal with late changes to event details
- Ensure all inventory/currency is in the correct location at point of instruction and that all parties are in agreement/issues have been resolved
- Ensure any late instructions are processed without risk
- Organise morning risk review meeting and oversight intraday and end of day key sign off points
- Event manage "hand hold" large, complex deals
- Ensure all client queries dealt with within required SLAs
- Ensure all event files are present, correct and complete
- Spot check calls, sign offs and files for quality control
- Deal with ad-hoc new market and new client requests
- Work with Product Development, Settlements, FX and Risk
- Work with local market entities re data capture and service offering/requirements
- Provide Management cover across other Operational functions
Skills
Qualifications
- Extensive experience in the securities services business, and direct experience with the Malaysia market
- Relevant business degree or equivalent
- Industry Standard Examinations (nice to have)
- Previous Sub Custody experience in the local Malaysian market is highly preferred; candidates from either Global Custodian or other relevant Financial party may also have relevant exposure
- Knowledge of market systems and interfaces would be an advantage.
Key Skills
- Operation's Team Management in a daily environment is critical
- Operational subject matter expertise critical e.g Reconciliation, Settlements, Trade Support
- Asset Servicing, Risk Control and Custody experience
- Strong People Management skills, ability to Lead and Motivate Managers
- Strong ability to learn ongoing stream of new markets, products and processes
- Strong Risk and Control Awareness: Ability to effectively prioritise workloads and work to critical deadlines
- Demonstrate Ownership and Accountability for Operational and Project Deliverables with a proven track record.
- Confident communicator in all mediums to both internal and external clients
- Strategic thinker, able to review and implement process improvements.
- Drive, Energy and Enthusiasm
- Display high levels of integrity; operate on the basis of open and honest interaction.
- Demonstrate Ownership and Accountability for Operational and Project Deliverables with a proven track record.
- Excellent problem solving skills with attention to detail.
- Competent use of MS Office Suite applications - MS Word, Powerpoint and Excel.
- Keen learner with drive, enthusiasm and ability to motivate others.