J.P. Morgan

Equity Derivatives Product Controller VP

Recruiter
J.P. Morgan
Location
London, UK
Salary
Highly competitive compensation package
Posted
27 Sep 2022
Closes
21 Oct 2022
Ref
210347814
Approved employers
Approved employer
Contract type
Permanent
Hours
Full time
Experience level
Director

Job Description

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 50 countries. 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 our website.

Description

The EMEA Equities business is split into several core businesses:

  • Cash – Main activities are Agency and Risk trading for clients, predominantly a commission based business.
  • Equity Derivative (EDG) – primarily market making and structuring transactions for clients:
    • Volatility – Market making business offering a wide variety of Options, Swaps, Convertibles and Structured Notes solutions to clients, across a spectrum of complexity levels
    • Financing – Predominantly offers clients bespoke Equity based financing structures and products.
  • Prime – Main activities are Stock / Borrow Lend and Financing activities.

The role will be within the EMEA Equities Product Control team supporting the Equity Derivative business activities, which comprises of Exotics, Flow Option Market Makers, Corporate Structuring, Convertibles, Warrants, Delta One and Financing.

The primary offering for the VP is to manage a part of the Equity Derivative business with prime responsibility for managing a team producing and delivering Daily P&L to Front Office and Senior Functional Management.

In addition to the supervision of the daily P&L and all associated controls, reporting and commentaries, the role will cross with other Equity functional groups extensively and Projects on an on-going basis.

The primary responsibilities of the Product Control team are:

  • Production, validation and reporting of Start of Day Risk and T+1 P&L
  • Substantiation and reporting by Greek attribute under a risk and full revaluation basis. i.e. Delta, Gamma, Vega.
  • Provide accurate and timely equities market risk analysis
  • Obtain daily Risk and P&L Sign off from Front Office
  • Production of commentary for P&L primarily across timecycles, legal entities to a variety of internal and external stakeholders, coupled with balance sheet commentaries
  • Ownership of adjustments, ensuring appropriate comments, remediation and escalation until resolution
  • Material Deal Review, potential off-market and Significant Transaction analysis / write up
  • Day 1 P&L GAAP Deferral of Level 3 Assets and Liabilities
  • Substantiation of exceptions between Balance sheet / GL and Front Office systems.
  • Month end FX trade in/out management
  • Ensure adequate, accurate information into a variety of metric and governance forums monthly
  • Involvement in projects and process improvements specifically around P&L and risk reporting, product development and pricing.
  • Enhance reporting processes through self generated methods

The role will require front to back view of the control agenda, oversight of month end controls performed by Financial Control and the production and delivery of month end MIS/Governance for senior management.

Qualifications:

The specific experience necessary for this position is:

  1. Extensive Derivatives product knowledge, preferably with Equities specific experience
  2. Extensive experience of team supervision and ability to influence stakeholders
  3. Good knowledge of accounting, preferably within the Banking industry.
  4. Proactive approach to problem solving and ability to identify and drive though change
  5. Strong analytical skills and attention to detail including a strong control focus
  6. Excellent communication skills and ability to develop strong working relationships
  7. Advanced Excel skills (VBA coding preferred)
  8. Python experience (preferred)

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.

Global Finance & Business Management works to strategically manage capital, drive growth and efficiencies, maintain financial reporting and proactively manage risk. By providing information, analysis and recommendations to improve results and drive decisions, teams ensure the company can navigate all types of market conditions while protecting our fortress balance sheet.

For further information, and to apply, please visit our website via the “Apply” button below.

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