CIB Operations (Derivatives Ops) - F&O Clearing Team - Bournemouth - Professional

Bournemouth, UK
20 Jul 2019
23 Jul 2019
Contract Type
Full Time
J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments and institutions in more than 100 countries.

Derivatives Operations provide operational support to Markets, Investor Services and Banking businesses across the CIB. Key product areas include Currencies, OTC Derivatives, Collateral Principal, Global Clearing, CASS & Outsourcing and Expense Management Unit with a global team of ~1400 colleagues. Services provided to our Businesses include:
  • Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Trade Cost Management
  • Typical daily activity includes settling in excess of $2TRN via FX trades, leading a Markets OTC portfolio of 3M trades, managing collateral balances in excess of $350BN and processing ~700K cleared and intermediary trades

Global Clearing Operations supports Clearing, Reconciliations, Middle Office, F&O House Ops, Expiries & Deliveries, Settlement, Brokerage, Client On-boarding, Client Money, Regulatory Reporting, Static Data Management and Position Management.
  • Processes ~750,000 cleared and intermediated trades daily
  • Provides clearing at ~60 global Clearing Houses
  • Settled USD equivalent ~24Bn in physical deliveries

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Location Description

Bournemouth . Over 4,000 employees work at the Bournemouth Corporate Center. We take immense pride in our work and in helping our community. We're proud to leverage the local workforce and engage closely with local schools and charities. Our campus is set in 13 acres of grounds and includes on-site Tennis Courts and easy access to local sports facilities. We have good transport links including our commuter bus service. The site is currently benefitting from massive investment, redeveloping the office space into a High Performance Workspace and adding exciting new offerings to our communal spaces. We have 2 restaurants on site offering a wide range of healthy options. The staff are able to join in a wide range of groups from yoga to language classes, to groups supporting the diverse range of cultures represented here.
Job Description

The DCO Middle Office team is responsible for position maintenance of all EMEA voice executed Futures and Options trades using the relevant markets watches and exchange GUIs. It is our responsibility to clear and reconcile all trades efficiently and accurately, chasing for allocations where needed and monitoring STP allocation systems for failures. We are also responsible for testing key systems in preparation for new releases of software due to regulatory change, efficiency improvements or bug fixes.
Summary of Responsibilities

SOP Updates
  • The role will involve updating the current SOPs for the team to make sure they are fit for purpose.
Post-trade allocations
  • Ensuring all trades are allocated on top day for the execution business. All aged trades without allocations should be escalated to the execution desk/ CSR.
Resolving top day and desk break issues
  • Working with the execution desks, client services, brokerage and reconciliations team to ensure that all executions and commission breaks are resolved in a timely manner.
Position maintenance

  • Performing closeouts to maintain robust open interest reporting and remove risk of being assigned on netted off trades.
Mailbox maintenance and query resolution
  • Responsibility to review all emails into F O EMEA CLEARING and F O EMEA BREAKS mailbox. Responding to queries and resolving issues in good time before handling over to the NA team for global coverage.
Point of contact
  • Acting as the point of contact for all execution queries. Liaising with TA's, working with client services and operations to ensure that all execution issues are dealt with appropriately and on a timely basis.
System Testing.
  • To ensure that all technology system changes are robustly tested to ensure they have desired effect and interact with any upstream, downstream or lateral systems as expected.

Skills and Qualifications

  • Detail oriented with excellent numerical/analytical skills.
  • Control minded.
  • Works well under pressure and has the ability to multi task.
  • Self-starter, highly motivated and driven.
  • Team player who enjoys working in a fast paced environment

Shift pattern is in from 8-4 through to 12-8 shifts.

Happy to talk flexible working.

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