Job Description
Description of Position
IS Ops –Prime Brokerage Middle Office- Pre-matching
J.P. Morgan is a leader in financial services, offering innovative and intelligent solutions to clients in more than 100 countries with one of the most comprehensive global product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years and we keep their interests foremost in our minds at all times. This combination of product strength, intellectual capital and character sets us apart as an industry leader. J.P. Morgan is part of J.P. Morgan Chase & Co. (NYSE: JPM), a global financial services firm with assets of $2.0 trillion.
The Prime Services Middle Office (MO) Department is responsible for facilitating the clearance and settlement of transactions in the Equity Prime Brokerage and Fixed Income Prime Brokerage, and the Broker Dealer Services accounts. As a broker aligned team, they work directly with brokers and Core Operations to resolve outstanding settlement issues (Breaks, Fails, etc). Additionally, the team also answers any inquiries a broker may have with respect to the processing and settlement of their securities transactions.
Pre-matching
Pre-matching is an integral part of Prime Brokerage business & is a process whereby the trade and settlement details given by prime broker clients are confirmed / agreed to with the executing brokers for accuracy and ensure timely settlement/ matching. The team will be point of contact for brokers and custodians for matching and settlement purposes. Involves partnership with various operations teams’ i.e. stock borrowing team, settlements & global middle offices (client facing teams). Liaising with settlements teams on various settlement/clearing related queries. The role will be broker/market facing and will require knowledge of Equity and Fixed Income (to include Repos) products alongwith knowledge of EMEA and ASIA markets.
Key Responsibilities Include
· Pre-match cover for global markets (T+1), across product class Equities & Fixed Income.
· Work directly with brokers & custodians globally to resolve issues related to unmatched exceptions and ensure matching & timely settlement.
· Partner with middle office in resolving issues to ensure trades are prematched on time & thereby enhancing the client experience
· Unmatched trades & fails have up to date and accurate commentary for auditors, clients, middle office and Account managers to view.
Job Requirements / Competencies:
· Ensure all day to day queries dealt with within required SLAs and escalate issues to the team leader
· High level of client service focus
· Monitoring & Adhere to daily work flow queues and ensure no TAT missed
· Operational subject matter expertise preferred eg – Trade life cycle, settlements, trade types, interpreting swift messages
· Market knowledge of International / DTC markets
· Strong time management skills required to meet the internal and external deadlines/cutoffs
· Able to scale up volumes as they progress in BAU
Essential
· Strong business knowledge is preferred/Added advantage i.e. Investment Banking and Prime Brokerage. Experience on pre-matching, fail management, interaction with settlements teams will be added advantage.
· Excellent grasp and understanding of trade lifecycle
· Excellent verbal and written communication skills, and adept at communicating with all levels of the business and technical parts of the organization
· Settlement knowledge and best practices for Asia and EMEA markets.
· Skilled in MS office applications including Outlook, Excel, Word.
· Operate effectively in a dynamic environment with tight deadlines, and can prioritize one’s own work to achieve them
About Us
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.
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. About the Team
The Corporate & Investment Bank is a global leader across investment banking, wholesale payments, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. We provide strategic advice, raise capital, manage risk and extend liquidity in markets around the world.
Operations teams develop and manage innovative, secure service solutions to meet clients’ needs globally. Developing and using the latest technology, teams work to deliver industry-leading capabilities to our clients and customers, making it easy and convenient to do business with the firm. Teams also drive growth by refining technology-driven customer and client experiences that put users first, providing an unparalleled experience.
