Direct Custody and Clearing – Settlements Cash & FX 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 Trade Operations is responsible for the accurate and timely processing of the full trade cycle 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 the department accountable for the capture, settlement and feedback to client liaison officers for the timely settlement of security transactions.
Key Responsibilities:
Business As Usual Management
- The candidate will be responsible for a team, accountable for the Settlement of Malaysia securities
- Day to day task management, ensuring smooth running of the team
- People Management, including 1-1's, staff development and to conduct the formal appraisal process
- Strengthen the Trade Team to minimise risk and maximise efficiency to facilitate growth
- Authorised signatory and safekeeping responsibilities
- Investigation of trade discrepancies will be required, this will involve liaison within JPM including Client Services along with external parties involved in the Settlement process such as Transfer Agents, Fund Managers, brokers, depositories and other Custodians
- 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
- Own issues related to the Trade 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
- 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
- Ensure all client queries dealt with within required SLAs
- Spot check calls, sign offs and files for quality control
- Deal with ad-hoc new market and new client requests
- Partner with other Lines of Businesses such as Product Development, Client Service 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 within the Malaysia market
- Relevant business degree or equivalent
- Industry Standard Examinations (desired, but not essential)
- Previous Sub Custody experience in the local Malaysia 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 essential
- Operational subject matter expertise critical e.g. Reconciliation, Settlements, Trade Support
- Experienced and competent people manager
- Excellent communication skills, both written and verbal
- Good time management skills with ability to organize own day
- The candidate must be proactive, creative and show strategic vision
- Capable of working under pressure and to cope with changing volumes, whilst maintaining accuracy and quality
- 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
- Flexibility in working hours is a must as there may be a requirement to cover workloads during busy periods with occasional requirement to cover bank holidays
- 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