J.P. Morgan

CIB - EMEA Fixed Income Financing (Repo) Product Control

Recruiter
J.P. Morgan
Location
London, UK
Salary
Highly competitive compensation package
Posted
16 Aug 2022
Closes
16 Sep 2022
Ref
210295654
Approved employers
Approved employer
Contract type
Permanent
Hours
Full time
Experience level
Qualified accountant
Job Description

Our Product Control team is responsible for providing support to the trading desks to ensure that the profit and loss, risk, and month end close procedures are done accurately.

Department Description

The EMEA Fixed Income Financing (Repo) Product Control team, within IB Finance and Business Management, is responsible for supporting the Fixed Income Financing (Repo) business.  The business acts as a market maker, providing secured financing or collateral to a large number of clients of differing sizes. Additionally, the Fixed Income Financing desk manages the funding and liquidity by funding long positions as well as covering shorts for IB Fixed Income desks.

The Product control team is responsible for daily P&L and month end P&L production as well as preparation of month end and quarter end regulatory submissions and Balance Sheet analysis.  The team is also expected to provide advisory support to the business and will be a main contact for queries about the business from stakeholders such as audit, financial control, VCG, risk, trade support and the business manager.

The role will involve daily BAU as well as managing projects. The right candidate is keen to learn and take ownership of processes in order to understand the business and further their career.

Key responsibilities:

P&L/Risk

  • Production of T+1 P&L to Front Office and obtaining daily P&L sign-off, including substantiation through comparison to trader predicts, current risk and market moves.
  • Perform the analytical review of the desk P&L and explain the business drivers of the P&L movement.
  • Reconciliation and reporting EOD Risk and obtaining daily risk sign-off.
  • Reconciling and owning inputs to the Value-at-Risk (VaR) calculations of the firm.
  • Ensure that the team is in compliance with the P&L and Risk minimum standards and support projects to enhance the control environment.
  • Provide ad hoc reports driven by Front Office, Market Risk and Business Management.
  • Responsible to perform the marketing/trading revenue attributions based on the underlying transfer pricing agreements with the other line of business or between two legal entities.
  • Point of contact for issues with respect to Risk and P&L
  • Month end – Liaising with Financial control to reconcile P&L Aggregator to general ledger, review of reserve adjustments and other month end adjustments.

Controls

  • Review the key control metrics and monitor the current control issues ensuring they are effectively escalated and mitigated.
  • Pro-actively identify the control risks and manage the subsequent project plans to achieve resolution.
  • Ensure the integrity of the business financial results are maintained under US and local regulatory requirements

Qualifications and Experience Required:

  • Strong numerate background - ideally a numerate degree
  • Good financial product knowledge, preferably fixed income products.
  • Ability to work effectively & meet challenging deadlines and be able to work under pressure
  • Analytical and quantitative aptitude.
  • Ability to identify and solve problem.
  • Team player with ability in managing daily processes and interacting with the business
  • Strong interpersonal skills and good communication skills
  • Strong technical skills (Advanced Excel, Access an advantage)
  • Proactive and willing to accept responsibility
  • Control focused
About Us
J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world’s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants’ and employees’ religious practices and beliefs, as well as any mental health or physical disability needs.
About the Team
The Corporate & Investment Bank is a global leader across investment banking, wholesale payments, markets and securities services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. We provide strategic advice, raise capital, manage risk and extend liquidity in markets around the world.
For further information, and to apply, please visit our website via the “Apply” button below. 

Similar jobs

Similar jobs