About J.P. Morgan Corporate & Investment Bank
J.P. Morgan's Corporate & Investment Bank (CIB) 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.
The Billing Operating Unit offers innovative solutions and services to various LOBs across multiple asset classes and geographies. The unit maintains relationships with hundreds of clients worldwide. In addition to this J.P. Morgan is an industry leader in providing clearing, custody, operations, and technology and order execution capabilities to broker dealers worldwide. The Billing Operating Unit - Expense Management Group is responsible for invoice management, validation/reconciliation, and allocation of charge to various LOB, Cost Centers, timely payment, NOSTRO Clearance, and MIS Reporting. The Billing Operating Unit – Billing Utility is responsible for invoice generation of transaction-related charges for OTC & PB clients.
The objectives of the BOU - Expense Management Group are:
(1) Daily maintenance and reconciliation of the books and records of the J.P Morgan Clearing Corp, (JPMCC) relating to clearing activities and balancing of incoming and outgoing funds
(2) Payments to counterparties and broker dealers
(3) Reporting of any abnormal trade activity to Product Controllers/traders that is consistent with the Firm’s internal policies and procedures, and in accordance with Federal, State and New York Stock Exchange, Inc. (“NYSE”) regulations, as well as all other self-regulatory organizations of which the Firm is a member or to whose jurisdiction the Firm is subject.
"Best in Class” Department’s performance and overseeing and performing BAU Activities related to
· Reconciliation and payment of Execution brokerage to Brokers on OTC trades across all brokers, exchanges and currencies.
· Ensuring payment against invoice receipts in the given minimum turn-around-time.
· Liaise with Support groups like CCCG (Credit and Client Control), Client Services and resolving of Rate issues across all entities.
· Achieving the stringent daily / weekly and monthly volume targets.
· Ensuring accuracy on payments and non-disclosure of client information by preserving client confidentiality.
· Deal with sensitivity while dealing with each client due to their difference in relationship types.
· Researching on any queries/ requests sent by the Business Managers/ Execution Brokers / Client Support Teams and replying to the same with minimum response time.
· Establishing and maintaining excellent relationships with the Business Managers/ Execution Brokers as well as the people in the Client support groups.
· Leading process improvements and automation.
· Reporting and Reviewing the MIS / KPI on a daily/ weekly/ monthly basis.
· Ensure Quality Control standards that have been set for all processes that are carried out in the team.
· Ability to work under pressure and high volumes.
· Self-motivated and flexible with working hours.
· Excellent organizational skills with ability to identify and prioritize high value payments.
· Driving and meeting risk and controls parameters around various themes
· Accountable for team’s performance
· People management
· Minimum Qualification – Graduates with a minimum of 4-7 years’ experience in a bank, financial services/ or other service sector environment or Qualified professionals (e.g. CA, ICWA, and MBA) with 3-5 yrs. relevant experience
· Maintain effective Standard Operational Procedure
· Improving and maintaining a controlled environment (e.g. necessary controls activities along process flow implemented, appropriate control tools in place, team members fully understand risks and related controls)
· Manage relationship with internal teams, anticipate needs, take feedback, run conference calls.
· Act as a point of contact for escalations and high priority requests from internal clients.
· Send early warning reports if workloads impact turnaround time or quality parameters.
· Take responsibility for the quality of work submitted and ensure that the highest standards are maintained.
· Identify/ manage risk and control breakdowns.
· Conduct regular team meetings and coaching sessions.
· Manage projects and other initiative as required.
· Strong business knowledge i.e. Investment Banking, product knowledge in derivatives, fixed income, and equities.
· Working knowledge on reconciling security & NOSTRO positions, TLM breaks; accounts payable and receivable, reconciliation etc.
· Knowledge of accountancy, journal entries, general ledger, book keeping etc.
· Working knowledge of industry systems like TLM (trade lifecycle management), E-PI (e-Serve Payments Initiation)
· High level of attention to detail and ability to multitask
· Ensure all day to day queries dealt with within required SLAs and escalate issues to the immediate manager
· Maintain and publish, weekly, monthly KPI alongside Manager and participate in discussions with onshore management and teams
· Can operate effectively in a dynamic environment with tight deadlines, and can prioritize team’s work to achieve them
· Must be organized and have excellent follow-up and prioritization abilities
· Analytical, problem solver and able to multi-task
· Strong business writing and verbal English communication skills
· Flexibility to work global hours and willing to travel globally
· Good coaching skills
Preferred Skills & Experience – include specifics, as above
· Knowledge of Prime brokerage / Clearing business and the regulations relevant to these business in the US/UK market
· Strong Interpersonal skills. Should be able to communicate at all levels.
· Behavioral skills, Leadership, Problem solving and time management
· Strong planning, negotiation and analytical skills
· Assertive and self-confident.
· Encourage and practice efficient cost management
· Migration experience preferably US or UK
· Operational subject matter expertise preferred e.g. – CMTA, Floor Brokerage, Cash Equities, Agent Bank Fees, TLM, OTC Brokerage MIS reporting etc.
Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.
The firm invites all interested and qualified candidates to apply for employment opportunities.
If you are a US or Canadian applicant with a disability who is unable to use our online tools to search and apply for jobs, please contact us by calling (US and Canada Only) 1-866-777-4690. Please indicate the specifics of the assistance needed.