JPMorgan Network Management is responsible for the selection and management of the network of agent banks employed by the firm. In this role, the group covers the purchasing and maintenance of securities services (custody and clearing) and cash services (payments and FX) for LOBs firm-wide. The network spans ~500 agent banks, comprised of sub-custodians, correspondent banks and partner banks in 100+ markets. The team work closely with these banks and regulatory authorities in each country to identify market practices and rules associated with foreign investment.
Network Management supports the Corporate & Investment Bank (CIB), as well as other areas of the firm as needed, including Corporate Treasury, Asset Management and the Retail Bank. The group’s key strengths lie in market knowledge, expertise in buying, and strong project management.
The group has a global focus in order to leverage buying power worldwide, developing outsourcing initiatives, and management of the associated risks.
The Network Service Management (NSM) division is focused primarily on the operational aspect of agent bank relationships and thorough performance monitoring of the network. The team is largely based in Bournemouth, with additional coverage in New York & Hong Kong to allow a ‘follow the sun’ coverage model. NSM’s Agent Change Management (ACM) team has specific responsibility for managing the suite of change projects impacting the agent bank and financial market infrastructure network including, but not limited to; agent transitions, agent account and custody platform restructures, RFPs and expansion activity.
- The successful applicant will assume responsibility for supporting the project management of changes to the securities and cash network resulting from the firm’s simplification initiatives. This will require management throughout the lifecycle of the project from evaluation, through planning to execution. Responsibilities to include;
- Sourcing agent bank documentation requirements and co-ordination, tracking and recording completion
- Co-ordination and tracking of opening new securities and cash accounts at in scope agent banks and adapting securities / cash account linkages, where applicable
- Tracking and reporting of changes to internal JPM infrastructure static data changes
- Management of changes to agent service level agreements, and obtaining sign-off from agent banks / internal JPM Operations
- Ensuring full operational readiness for change events
- Co-ordination of SWIFT testing, where required
- Relationship building with internal departments, agent banks and Network community