CIB F&BM - APAC Rates Product Control - Associate

  • Job category
    Banking and Finance
  • Job level
  • Contract type
    Permanent, Full Time
  • Location
  • Salary
    S$6000 - S$12000

Job Description

Job Description

The Markets Product Control team within CIB Finance and Business Management produces daily P&L and risk reporting, performs balance sheet and capital management functions and ensures the accuracy and integrity of the Financial Statements.  The team partners closely with Front Office, Business Management, Financial Control, Middle Office, VCG, and Market Risk to drive the control agenda across the business.

Key Role & Responsibilities:

·         Production, analysis and oversight of daily P&L and Risk for G10 Rates market making desks. Have complete understanding of the drivers and work with middle office, technology, quantitative research teams to ensure P&L and Risk are correctly reported.

·         Analyze P&L explain through first order and second order Greeks. Review P&L and Risk  across Fixed Income products like Swaps, Options, Bonds, Futures, Forwards, Inflation derivatives, Swaptions, Repos, etc.

·         Partner with teams across APAC, EMEA & NA and across functions like Front Office, Business Management, Middle Office, Technology, Quantitative Research, Legal Entity Control, Financial Control & Other Finance functions

·         Provide Daily, weekly, monthly commentary for senior management and also for clean P&L on VAR breaches

·         Daily monitoring and understanding of the Business Balance Sheet and provide commentary on material drivers. Work with Business Management and Capital to optimize the balance sheet and manage funding implications.

·         Prepare, verify accuracy, and perform variance analysis for monthly and quarterly regulatory reporting disclosures as per US GAAP & IFRS. Reporting is around LCR, NSFR, Regulatory Capital, FAS157, FAS 161, etc. Manage offshore teams who help in preparing monthly reports.

·         Perform monthly FX hedge out based on location and desk strategy. Review and approve monthly transfer pricing performed by offshore team and also attest to Advanced Pricing Agreement done annually.

·         Prepare reports for Volcker reporting related to P&L explain and Inventory Aging

·         Develop and maintain key relationships with senior managers in Front Office, Business Management and Support functions.

·         Be comfortable liaising with business and risk managers and exerting influence over these partners when necessary to further the control agenda.

·         Be a highly-motivated individual who is able to handle a high level of complexity in their product coverage.

·         Shift focus of task with relative ease in accordance with changing priorities and be comfortable dealing with a sometimes stressful, fast-paced trading and month end priority-driven environment.

·         Demonstrate a strong understanding of the end to end control environment

·         Understand the regulatory, credit, market risk, tax and accounting issues as they relate to the product or legal entities the business transacts within.

·         Constant focus on operating efficiently and improving processes while maintaining a strong control environment.

·         Participate and drive in several on-going and ad-hoc projects

·         Be the Business go-to person for any financial information

Required Experience & Skills:

·         Bachelor's degree in Finance, Accounting, or Business is a must

·         CA / CPA Qualified – preferable

·         Minimum 5 years of experience in similar role in Markets business in Banking Industry

·         Deep understanding of principles of P&L and Risk management for derivatives using Greeks:

·         Bonds, Futures, Forwards, Inflation derivatives, Swaptions, Repos, etc.

·         Strong understanding of Balance Sheet, Funding & Capital (including GSIB & RWA) and how it applies to a markets business

·         Strong understanding of month-end close process, FX management and transfer pricing

·         Strong understanding of regulatory reporting under US GAAP

·         Demonstrate an understanding of system flows from trade cycle perspective, Trade booking to risk management system to P&L & Risk to Sub-ledger and General Ledger

·         Ability to work under pressure and in a constant changing environment

·         Ability to work and partner effectively with global teams in different time zones and flexible to work outside regular working works on critical business days if required

·         Strong analytical and problem solving skills

·         Excellent desktop/spreadsheet/database skills (VBA skill desire able)

·         Excellent verbal and written communication skills

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.

Closing on 11 Mar 2021

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