The EMEA Equities business is split into several core businesses:
- Cash – Main activities are Agency and Risk trading for clients, predominantly a commission based business.
- Equity Derivative (EDG) – primarily market making and structuring transactions for clients:
- Delta One – Main activities include Index Forward and ETF market making and providing performance to clients through Swaps.
- Volatility – Predominantly a Options market making business offering various Options (both vanilla and exotic) based solutions to clients
- Financing – Predominantly offers clients bespoke Equity based financing structures and products.
The role will be within the EMEA Equities Product Control team supporting the Equity Derivative business activities.
The primary function is reporting the daily P&L to traders and senior management. In addition to the production of the daily P&L, the role will include the Financial and Control elements, as well as working on projects within the Product Control space. The role requires extensive interaction with Front Office traders, Financial Control and Operations, as well as exposure to Market Risk and Project teams, and various other functions through out the bank.
The primary responsibilities of the Control team are:
- Substantiating and reporting by Greek attribute ie Delta, Gamma, Vega. Mark To Theoretical (MTM) P&L on a daily basis, adjusting price and position breaks where appropriate.
- Greek attribution reporting and P&L recs
- Substantiation of exceptions between Balance sheet / GL and Front Office systems.
- Month end FX trade in/out management
- Involvement in projects and process improvements specifically around P&L and risk reporting, product development and pricing.
- Provide accurate and timely equities portfolios market risk analysis
- Enhance reporting processes through self generated methods
- Work with Market Risk to ensure portfolio risk is correctly reflected in VaR
- Monitor exceptions in derivatives pricing and reflection of these in Greeks, stress scenario generation, and limits reporting
- Generate and analyze VAR for various Equity Derivatives desks
- Generate risk reports and investigate risk reporting related queries
The role will require front to back view of control agenda and the candidate will have oversight of month end reconciliations performed by Financial Control hub, and production of month end MIS reporting for senior management.
The specific experience necessary for this position is:
- Cash and Derivatives product knowledge, preferably with Equities specific experience
- Good knowledge of accounting, preferably within the Banking industry.
- Proactive approach to problem solving and ability to identify and drive though change
- Strong analytical skills and attention to detail including a strong control focus
- Excellent communication skills and ability to develop strong working relationships
- Intermediate Excel skills as a minimum
About J.P. Morgan's Corporate & Investment Bank
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 50 countries. The Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com