Global Credit Exotics & Hybrids -Product Controller - Associate
August 16, 2019
Business Background JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity.
The Credit Hybrids business provides sophisticated credit markets risk management solutions for our clients. Products traded include exotic credit derivatives (e.g. Full Capital Structure CDO's; Bespoke CDO's and bespoke CDO2) as well as vanilla hedging instruments (CDS, futures, swaps, forwards). The range of products is always growing limited only by imagination, and our ability to develop pricing models and hedging strategies. Our clients are predominately governments, banks, other financial institutions (e.g. pension funds, asset managers) and large corporates.
Credit Hybrids Finance provides first-line support for the Credit Hybrids business in Europe and acts as a key point of contact for numerous downstream groups. The groups day to day functions include both P&L and Risk reporting as well as multiple projects underway to develop the business, working closely with the Front Office, Quantitative Research, MO and IT teams.
Roles & Responsibilities:
Senior Associate level employee who has had 2-3 years previous experience of working within the Derivative P&L or Risk functions, and 3-5 years total working experience.
The key responsibilities of the P&L team are: - Production, preparation and reporting of the daily P&L and risk management information - Understand, produce and explain daily P&L into constituent risk components; investigating any issues as needed - Review with FO to obtain sign-off and for any ad hoc requests and queries. First point of contact for FO. - Additional liaison with other middle office areas, back office, FVP and technology development groups and point of contact for all downstream issues (e.g. Collateral, Credit, Settlements) - Liaison with accounting control group to help investigate any issues around daily monitoring and review of the general ledger to reported P&L and month-end reporting and substantiation - Manage projects and initiatives related to all of the above as well as larger cross-business programmes - Be an active part of the team, coming up with ideas and suggestions for improvements etc.
The two most important characteristics required are the potential to succeed and an active interest in PNL, risk and the credit products.
Skills required / To be developed
Fixed Income and Derivatives experience in P&L Control or Risk including clear understanding of Greeks analysis.
Strong interpersonal/communication skills - ability to relay information in a concise and understanding manner
Professional attitude, strong team player and personable / approachable manner
Strong attention to detail and ability to work effectively to tight deadlines
Analytical and logical manner; good at problem solving and devising solutions
Previous P&L or risk within a derivatives or fixed income securities environment Advantageous:
Accounting / Control experience- a professional accounting qualification, e.g. ACA, CIMA
Internal Number: 6147348
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