Vice President – Derivatives Settlements
I. Hiring Manager Information
*Hiring Manager : Amit Bhise
*Hiring Manager Title: Executive Director (CIB OPS)
II. Department Information
*Location : Mumbai, INDIA
*Depart./Section: Derivatives Processing Center (CIB OPS)
* Shift Timings EMEA
III. Background to the Role and Business Description
JPMorgan Chase Bank, N.A. is a leading global financial services firm with $1.4 trillion in assets and 170,000 people working across 50 countries. JPMorgan serves the interests of clients with complex financial needs, from the world’s most prominent corporate, institutional and government clients to charities and private individuals.
CIB Operations focuses on building and maintaining strong relationship with clients and partner closely with technology, finance and representatives from lines of businesses to provide real time, world class service in a highly controlled environment.
Broad businesses under the IB Ops - India umbrella are Credit, Rates, Emerging Markets, Equities, Fixed Income, Commodities, Futures & Options, GCRM, IB Loans, Brokerage Control, and Foreign Exchange Operations.
The CIB OPS Derivatives Processing Center has close to 500 employees across the functions of Settlements, Confirmations and Middle Office. Also includes the Strategic Projects function. The products supported are Credit Derivatives, Rates & the Equity Derivatives Groups. Functions include interfacing with both internal business partners i.e. the middle offices and front offices as well as external counter-parties.
IV. Job Description
OTC Derivative Settlement, part of the Derivatives Processing Center has 35 employees and requires operations leadership/expertise managing matrix reporting relationship. The incumbent should have strong relationship skills to manage relationships with Clients, JPM Middle Offices and Front Offices.
Settlements : Settlements is an Investment Banking Derivatives Operations process involving settlement of cash flows booked in risk management system in line with ISDA (International Swaps and Derivative Association) guidelines and internally defined systems and processes.
Close Interaction with Fed 14 counterparts globally
Ability to master and represent JP Morgan on cross industry forums call
Manage and lead a group of Settlements personnel @ 20 people.
Master and lead change management of all JP Morgan Derivative systems for Rates, Credit and Equity Settlements.
Knowledge of global payment systems, CLS, ECFM, SWIFT,SWIRE and LCH
Knowledge of Derivative products.
Candidate should possess strong knowledge of Banking operations.
Hands-on experience of Settlement Operations, Balance Sheet attestation, Control a/c Reconciliations and CASS Client Money and Assets
Exposure to Change or Project Management
People management experience & Leadership skills to drive discussions and lead the group
Relationship building with diverse groups and senior executives.
Demonstrated ability to initiate and execute key programs.
V. Job Requirements
Leadership – Leads by example and is an effective role model (e.g. takes the lead and actions reflect an appropriate level of independence; demonstrates the ability to initiate and effect change and continuous improvement, contributes significantly to the on-going development of people.)
Communication – Is organized, clear and confident in written and oral communications. Actively engages in discussions offering expertise, opinions and advice.
People management: Manages his human resources with active engagement and develops key talent. Leads by example.
Teamwork – Creates and/or contributes to an environment of collaboration and mutual responsibility (e.g. effectively influences others to gain cooperation and address issues; initiates and is responsive to requests from other products, regions, etc.)
Should be creative and innovative; challenges status quo; generates strategic advice/product/client solutions
Have a track record of formulating innovative ideas and gaining buy-in from senior management in addition to a track record of execution/delivery/process improvement/leadership in a challenging environment
Degree in Business Administration or Chartered Accountancy with 10 to 15 years of work experience.
Fluent English (Verbal and Written)