Credit Portfolio Solutions (CPS) is a global private side group with a presence in London, New York and Asia, and forms part of Global Credit Risk Management. CPS EMEA is located in London and deals with new derivatives and loans for the clients of the CIB across the whole EMEA region. The team works on all derivative asset classes and with both cleared and non-cleared products.
The group has various functions, it:
- helps determine the credit, funding and capital implications/pricing for credit intensive, or complex, bilateral derivative transactions. This ensures proper handoff to the Credit Portfolio Group (CPG) or to the various self-insured trading desks for ongoing management of these risks;
- looks proactively at how to structure those transactions to enable a sensible risk/reward evaluation of them by Credit Officers and Clients;
- covers exposure analysis on traditional credit products (repos, loans etc.) and the helps with the optimization of collateral arrangements.
- evaluates the risks and sizing of independent amounts for trades facing JPMorgan’s hedge fund client base and;
- develops margin methodologies and performs analysis of new portfolios for F&O, OTC clearing and Intermediation. With respect to the F&O business, CPS is also responsible for overseeing the approval for the detailed set of product or contract based trading limits proposed by the business for a client;
- aids in assessing the risk presented by relationships with Central Counterparties by evaluating the adequacy of their risk management methodologies;
In summary, the team works closely with marketers, traders, credit officers, CPG and Market Risk to help them understand the credit profiles of large transactions, develop mitigants for the risk, and price the credit, funding and capital appropriately.
This open slot is for an Associate position. The role will cover markets and products within the region, developing close relationships with Sales/Trading as well as across the Credit organization. This role will be assigned to the Margining and Stress part of the team.
With the implementation of Dodd-Frank in the US and EMIR in Europe, IB Risk needs professionals to accompany the growth of the Cleared Derivatives business within a sound risk framework. The candidate will be responsible for the onboarding of new clients, advising Credit Officers on the main risks within a client’s portfolio and liaising with sales/trading to understand trading strategies and patterns. The role will also include the risk oversight of existing clients, reviewing trends, advising on limits breaches and performing ad-hoc deep dives where required. In addition, the role will require interaction with Market Risk colleagues to understand the nature of tail or concentration risk. Over time, the role will require increased involvement to present in front of clients and understand their strategies and explain margin methodologies. Finally, the role will offer the possibility to get acquainted with Hedge Fund strategies (flow or more complex structures) and develop into a quantitative resource for Hedge Fund clients. Hedge Fund quants resource use a variety of tools to harmonize independent amounts charged on Hedge Funds trading bilaterally with the bank.
Team members develop an expertise in Margining and Stress methodologies. Margining methodologies rely on a variety of rules, either driven by the Clearing Houses or developed in-house, and cover a wide variety of asset classes, while Stress require analyses of the markets dynamics and are an increased focus for regulators.
CPS is also engaged in the development of new risk measurement tools in partnership with Quantitative Research, and on improving the bank’s derivatives infrastructure.
In summary, the key over-riding ethos of the team is not simply risk quantification, but also to cover a broad solutions and advisory mandate around the contingent market risk exposure of cleared derivatives
Derivatives knowledge: A strong all-round knowledge of trading products, spanning derivatives on all the major asset classes and including the valuation and behavior of the across multiple dimensions. In addition to knowledge of the products themselves, we are looking for an appreciation of the main risk drivers for these, including an understanding of market dynamics.
Strong quantitative skill-set and good breadth of experience: Must be highly numerate, very good with excel, and have prior experience of working in a quantitative or analytical role that covered complex structures and their risks. Relevant experience may have been gained in credit or market risk management, or a derivatives front or middle office area for example.
Strong partnership and communication skills: Must be able to articulate a view, both clearly and logically; probe for additional information with either the client or product sponsors when required. Able to adjust one’s style for a variety of situations and be able to hold their ground as required. The individual must be resilient and be able to give each situation a fair hearing.
Credibility, influencing skills and leadership: Must be confident and commercial, and have the conviction to make a risk judgment, stick to it and be able to articulate why this is the case. Within a reasonable period of time the candidate must have the potential to become relatively self-sufficient, and to coach and train the more junior members in the team.
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 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, 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.
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.
Closing Date – 16th May 2016