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.
Global Clearing 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:
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Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Invoicing and CASS Support
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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 invoice
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.
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JPM is the 2nd largest Futures Commission Merchant based on Client Assets
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Processes ~750,000 cleared and intermediated trades daily
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Provides clearing at 62 global Clearing Houses
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Settled USD equivalent 24.3Bn in physical deliveries Q1 2016
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.
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.
- Technical expertise – A strong understanding of the Clearing business, operational functions required to support it, and the related industry infrastructure
Summary of Responsibilities
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Driving the direction and execution of a combined Technology and Operations agenda to improve client experience and the control environment
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Driving a culture and programme of bottom-up process improvement across global teams
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Developing and delivering an automated MIS framework to improve control of business processing
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Driving the delivery of new workflow strategies intended to reduce manual processing
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Management of budget objectives and planning, across financial and technology budgets, including location strategy, organizational structure and prioritization of technology development objectives
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Monitoring the management, delivery and closure associated with Action Plans intended to close control gaps within the operational framework
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.
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.
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