IB Operations, Associate — F&O Reconciliations recruitment
Futures and Options (FO) is the internal name of JP Morgan's global exchange traded futures and options brokerage business. FO provides investors and hedgers access to exchange traded listed derivatives throughout the world. FO acts solely as the clients agent on brokerage transactions, and never as principal. Services include:
- Developing trade ideas and portfolio management strategies in derivative markets;
- Identifying relative value between and among derivative and cash instruments;
- Quantifying the risks and profit opportunities of trades involving futures and options;
- Executing client trades for fixed income, money market, foreign exchange, commodity and equity-related futures and options on exchanges worldwide;
- Clearing and settling futures and options transactions;
- Posting the margins required by exchanges, using cash or securities in ways most convenient to the client ; and
- Providing operational information about clients transactions in flexible and responsive electronic or paper formats.
- Settling our clients execution brokerage fees.
Position Description:
The Exchange Reconciliations team's primary responsibility is to provide an effective reconciliation services around all globally traded exchange traded derivative products to both internal and external clients of JP Morgan. JP Morgan is a clearing member on all major global exchanges. It should be noted that as the ROC (Regional Operations Center) is JP Morgan's premier FO operations service provider, staff members will have an exposure to all global derivative markets.
A Reconciliations Specialist is responsible for ensuring that:
- He/she has extensive knowledge of the products and the exchange rules covered by the team.
- All exchange/broker reconciliation's are completed in a timely fashion on trade date +1
- All trade and position breaks are escalated and resolved on trade date + 1
- All margin calls are correctly funded and processed in accordance with exchange clearing house rules.
- Working with the specific Client Services and Clearing teams to ensure that all exercise requests and assignment notices are correctly processed as per the published deadlines and clients' requests.
- He/she is familiar with the delivery processes for all product types.
- He/she is familiar with all the trade flow relevant to the group including downstream impact.
- He/she is familiar with the payment and posting flows for margin calls and cash adjustments.
- All queries or issues are dealt with appropriately and escalated to the Team Leader when necessary.
- Processes are reviewed regularly and where possible make suggestions for greater efficiency.
- Any ad hoc requests of the team are dealt with in an appropriate manner
Skills
- Good team player, ensuring that the team works together in the most efficient manner.
- Flexible attitude towards working hours due to the demands of the working place.
- Strong intellectual curiosity for process improvements.
- Good written and verbal communication skills.
- Able to work accurately and effectively under pressure.
- Strong time management skills required to meet the many internal and external deadlines.
- Positive "can do" approach.
- Keeping management informed continuously of issues.
- Good PC skills.
- Excellent attention to detail.