Direct Custody & Clearing: Asset Servicing Specialist recruitment
Business Overview
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 Hong Kong 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 part of a team responsible 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
- The candidate will be part of a team responsible for the end to end administration of asset servicing products for the Hong Kong market (Corporate Actions, Income, Tax, Proxy Voting)
- The applicant will be required to work as part of a team of individuals who will have shared responsibility relating to several key specific clients working to tight deadlines with high transaction volumes
- Day to day task management, ensuring smooth running of the team
- Work as a team to help strengthen the Trade product to minimise risk and maximise efficiency to facilitate growth
- Investigation of trade discrepancies will be required, this will involve liaison within JPM including Client Services along with external parties involved in the Asset Servicing process such as Transfer Agents, brokers, depositories and other Custodians.
- Ensure all daily controls and processing are completed and signed off
- Resolution, cash and stock break management
- Ensure input to all key metrics as required
- Ensure adherence 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
Skills
- Experience in the securities services business, and direct experience with the Hong Kong market
- Industry Standard Examinations (nice to have)
- Previous Custody experience from either Global Custodian, Sub Custody or other relevant Financial party
- Knowledge of market systems and interfaces would be an advantage
Key Skills
- Excellent communication skills, both written and verbal
- Good time management skills with ability to organize own day.
- The ideal candidate must be a proactive team player, but also have the ability to work alone and use their initiative to deal effectively with unfamiliar situations.
- Capable of working under pressure and to cope with changing volumes, whilst maintaining accuracy and quality.
- Excellent problem solving skills with attention to detail.
- Excellent and confident telephone manner
- Should be PC literate and able to use MS Office Suite applications - MS Word 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.
- Operational subject matter expertise critical e.g Corporate Actions
- Strong Risk and Control Awareness: Ability to effectively prioritise workloads and work to critical deadlines