CIB Operations (Derivatives Ops) - Global Clearing Business Manager - London - Vice President
June 12, 2018
London, United Kingdom
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries.
Derivatives Operations provide operational support to Markets, Investor Services and Banking businesses across the CIB. Key product areas include Currencies, OTC Derivatives, Collateral Principal, Global Clearing, CASS & Outsourcing and Expense Management Unit with a global team of ~1500 colleagues. Services provided to our Businesses include:
Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Expense Management and CASS & Outsourcing Support
Typical daily activity includes settling in excess of $2TRN via FX trades, leading a Markets OTC portfolio of 3M trades, managing collateral balances in excess of $350BN and processing ~700K cleared and intermediary trades
Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
JPM is the 2nd largest Futures Commission Merchant based on Client Assets
Processes ~800,000 cleared and intermediated trades daily
Provides clearing at 76 exchanges and 38 global Clearing Houses
Settled USD equivalent 24.3Bn in physical deliveries Q1 2016
Location Description This role is based in London. J.P. Morgan has been in London since the 1930s. It's our headquarters for Europe, the Middle East and Africa. We offer an unparalleled client base and leadership across the spectrum of financial services products. We're honored to be a premier financial institution in the U.K. But we're just as proud of our ties to the community. The teams across our multiple offices support the Social Mobility Foundation, which helps disadvantaged youth get into top universities and organizations.
Job Description Global Clearing Operations is located in 9 centres around the world, providing operational support to the largest Clearing business in the industry. Global Clearing Operations has a highly demanding change agenda to execute in order to optimize its support model for a growing business, to deliver fundamental structural, technology and process change, and to comply with the ever-increasing complexity of the regulatory environment. The Global Clearing Operations Business Manager will be responsible for driving strategic direction and execution of top-down and bottom-up initiatives aimed at reducing manual processing, simplifying the control environment, and enhancing client experience. This will include budget and resource planning and management; development of and obtaining consensus for improvement strategies; and a high degree of personal ownership of delivery of key initiatives that span multiple groups within the global Operations team.
Summary of Responsibilities
Driving the direction and execution of a combined Technology and Operations agenda to improve client experience and the control environment
Developing and delivering an automated MIS framework to improve control of business processing
Delivery of enhanced control and transparency around service delivery between JPM legal entities, to ensure compliance with outsourcing obligations s achieved within the framework of a robust, well understood and tested cross-regional resiliency framework
Management of budget objectives and planning, across financial and technology budgets, including location strategy, organizational structure and prioritization of technology development objectives
Monitoring the management, delivery and closure associated with Action Plans intended to close control gaps within the operational framework
Ownership of a multi-stream communications agenda to increase cohesion within a 500-strong Global Clearing Operations team, and to increase our collective impact within the CIB as a whole.
The individual will be constantly looking at ways to improve the offering and challenge any existing processes and will frequently need to think on their feet as new challenges will arise frequently from operational processes. They will need to be organized and have the ability to multitask in a high-pressure environment.
If you're interested in working in an environment where you can aspire to be the best, execute superbly and be part of a great team and winning culture, then explore this opportunity at J.P.Morgan. The candidate must be able to demonstrate:
Leadership skills - motivating, inspiring and organizing teams, without the advantage of "owning" those teams
A track record of delivery - a bias for action through tracking and deadline orientated delegation, as well as through personal execution
Strategic thinking - devising innovative and value adding initiatives that enhance client experience or the immediate and longer term control environment
Stakeholder management - ability to keep a wide variety of stakeholders engaged and updated and motivated by change
Excellent communicator - able to absorb complex issues through targeted questioning and distil the key information to senior stakeholders; this must include a high degree of competence in development of presentation materials in Powerpoint, and manipulation of data in Excel.
Seamless ability to navigate the wider organization to overcome obstacles and meet critical internal policy mandates
Happy to talk flexible working We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.