Credit Portfolio Group – Differential Discounting Collateral, Analyst/Assoicate Credit Portfolio Group – Differential Discounting  …

J.P.Morgan
in New York, NY, United States
Permanent, Full time
Be the first to apply
Competitive
J.P.Morgan
in New York, NY, United States
Permanent, Full time
Be the first to apply
Competitive
Credit Portfolio Group – Differential Discounting Collateral, Analyst/Assoicate
Credit Portfolio Group - DifferentialDiscounting Collateral, Analyst/Associate Differential Discounting (DD) Collateral Group isprimarily responsible for managing and optimizing the funding costs arisingfrom JPMs derivative collateral exposure. The team is responsible for sourcing non-cash collateral to meet JPM'sInitial Margin and Variation Margin daily requirements. DD Collateral provides guidance on thefunding value of derivative collateral and works with the Finance desk and Settlementsin order to meet our daily collateral requirements. DD Collateral is part of the CollateralManagement and Optimization group and the wider Credit Portfolio Group (CPG), whichis responsible for risk-managing the retained XVA [Funding, Credit,Discounting, Capital, etc] risk generated by the client-driven activities ofthe CIB as well as the market risk arising from counterparty risk in derivativeand securities transactions.

Job and Team Description
Primarygroup responsibilities include:
  • Maintain collateral optimizer and work with QR and Technology toreassess optimization algorithm due to changes in market conditions and JPMobjectives
  • Optimize posted collateral on a daily/weekly basis in order toefficiently meet JPM's collateral requirements, entailing working with otherfunctional areas in order to meet this objective
  • Assess funding sources in order to achieve cost efficiency whileincorporating operational complexities with our Settlements Division
  • Identify, negotiate and implement new opportunities to source collateralon a more efficient basis incorporating Liquidity, Funding and Balance SheetCosts
  • Negotiate collateral eligibility schedules and opine on Fundingimplications as part of onboarding counterparties subject to Non ClearedDerivative Initial Margin
  • Assess funding implications of Collateral Support Annex (CSA) Amendmentsand advise Marketing and Risk of economic and capital impacts resulting fromsuch amendments
  • Maintain dialogue with other key areas such as CIB Treasury, CreditPortfolio Trading (CPT), Operations, etc in order to understand internalconstraints and objectives and incorporate them into our daily processes and beable to form an opinion when working with Marketing on Structuring Trades or CSAnegotiations
  • Project Management: Manage range of projects for the team, working witha number of internal stakeholders across trading, operations, finance,technology, treasury and business management
  • Maintain an understand of current and future regulatory changes andtheir implications to our business
Required Skills
  • Experience working in (or with) fixed income derivatives business in aStructuring or Trading capacity and/or good understanding of fixed-income andderivatives pricing and Financing (Repo); understanding of repo bookings andsettlements for bilateral and triparty trades would be beneficial
  • Strong technical and quantitative skills; strong excel and datamanipulation skills required; python and modeling skills a plus
  • Candidate should possess strategic mindset, be an independent thinkerand be able to set direction and lead projects on their own in order to deliverresults
  • Strong communication and organization skills, plus ability to work inpartnership with several other groups on a shared agenda
  • Ability to multi-task and manage multiple projects while continuing todeliver on daily requirements
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