CIB Finance, Product Controller, Asia Clearing Product Controller - Snr Associate
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com .
J.P. Morgan is a place for talented people from all backgrounds and perspectives because our clients come from all backgrounds and perspectives. We encourage a culture of inclusion, where everyone's opinion counts and all employees have the freedom to deliver their absolute best. This is why we work hard and invest in attracting and developing a diverse workforce. Learn more about our Business Resource Groups in how they help our employees build successful careers and reach their greatest potential.
J.P. Morgan's Corporate & Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. The Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.
The Global Clearing business is an integral part of the Corporate and Investment Bank strategy in addition to a major focus in regulatory reform. Global Clearing is comprised of three business areas (F&O, OTC Clearing, and OTC Intermediation). At a time of significant industry change, this role represents a unique opportunity to gain exposure in a business that is evolving within the bank and industry. Mandatory clearing of OTC Derivatives, Basel III Agency Clearing rules as well as Basel III Leverage Ratio implementation are some examples of recent regulatory change that the business has been impacted by.
The F&O business is one of the most dynamic market leaders in the futures and options brokerage business. The business has provided Sales, Execution and Clearing services across fixed income, equity, foreign exchange and commodity asset classes since 1979. Today, the business clears at over 70 exchanges with electronic trading access to over 50 of them.
OTC Clearing has been providing intermediation services to clients globally for several years. Recent legislation in the U.S. and Europe (Dodd/Frank and EMIR respectively) has driven the development of a new client clearing business. Under new law, institutions trading OTC derivatives are required to clear those derivatives through a central clearinghouse. The OTC Clearing business helps clients facilitate that clearing process. J.P. Morgan and, more specifically the OTC Clearing business, have actively engaged with clearinghouses and regulators and will continue playing a leadership role in shaping the evolution of the OTC marketplace. Roles and Responsibilities:
• Support Asia Clearing Product Control within CIB F&BM
• Help to execute P&L processes for both the F&O and OTC Clearing desks
• Financial reporting, investigation and control, including partnering extensively with Financial control team to introduce effective compliance to P&L and Risk Standards
• Help prepare and provide detailed analysis on monthly financials to desk heads, business managers, and senior finance management
• Partner with the business to drive forth and implement robust controls and new business initiatives
• Work closely with Operations and various back office support functions to ensure resolution of control and reporting issues in an accurate and timely manner
• Understand Legal Entity financials including expenses
• Responsible for accuracy of month end PnL
• Serve as an analytical and project support resource for product control and business management
• Think strategically to improve procedures; drive process enhancement projects; partner with CIB Finance to review, test and implement process changes
• Assist in the quarterly regulatory disclosures
• Own ad hoc projects and requests from management and other partners Skills Required:
- Ability to source and analyse large data sets. Present findings in a compelling manner and plan effective remediation. Extensive excel experience is desirable
- Strong problem solving skills. Have the ability to articulate clear and workable solutions
- Strong quantitative and analytical skills with an exceptional level of attention to detail
- Independent, self-motivated and results driven
- Excellent Communication and Presentation skills - written and verbal
- Ability to multi-task and execute on a variety of deliverables in a time sensitive environments
- Escalates issues and concerns in a timely manner
- Promotes partnership; encourages collaboration, information sharing and discussion