JPMorgan Chase Associate I - Global Derivative Operations in Boston, Massachusetts
Derivative Operations provides operational support across the CIB covering eight key product areas including FX, OTC Derivatives, Collateral Principal, 3rd Party Derivatives, Cleared Derivatives, Agency Collateral, Billing and CASS with 1,900 employees. Services provided to our Businesses include:
Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Invoicing and CASS Support
Typical daily activity includes settling in excess of $217B via FX trading, leading a Markets OTC portfolio of 2.5M trades, servicing >200 3rd party clients, performing 10,000 margin calls, processing 470k cleared and intermediated trades and producing >9,000 invoices
Third Party Derivatives Processing (3PDP) supports four main OTC / CFD derivatives services:
NAV Support - instruction capture and processing client provided valuations / cash flows; reconciliation to the fund manager
Independent Valuations - instruction capture, generate in-house/ source TPV valuations and cash flows; reconcile to the fund manager/ counterparties; standard reporting
Middle Office - same service as Independent Valuations plus confirmation/ settlement management
Asset Verification - As a utility to T&F, produce Independent Asset Verification of OTC/FFX & CFD trades
The individual will work within the Boston 3PDP Team and have responsibility for the delivery of these services to a number of clients.
Summary of Responsibilities
Responsible for the daily management of a client's trading activity including reviewing reconciliation breaks on Position, Market price, Income, Cash, Financing and Valuation
Dealing with all client and broker queries related to daily trade activity.
Responsible for any OTC / CFD related investigation, amendments and delivery sign-off to Fund Accounting and Client
Responsible for the derivative services OTC Reconciliation process for clients delivered from the Boston location.
To accurately and efficiently reconcile against all core controls for all relevant OTC/CFD deliveries
Skills and Qualifications
Bachelor's degree or prior work experience
Strong technical skills including accounting principles and theories
Knowledge of 40 ACTs Fund Accounting, Financial Reporting and Tax Operations
Ability to be effective in a global operating environment and a matrix management organizations
Ability to build and maintain effective working relationships with clients and counterparties
Quick learner both technical knowledge and systems
Results orientated; ability to create and sustain a target driven environment
Self-motivated with a flexible approach to working hours
JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.
We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.
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As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Employees are expected to follow the Firm's current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm's vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.
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