Rates Hybrids - Risk Management Bookrunner - Associate - Based In London-100022398 Job Details

Job Description
 A Middle Office role in the Investment Bank providing first-line support for the Interest Rates Hybrids trading business and acting as a key point of contact for downstream groups. The role involves working with the most exotic and complex derivative products from a risk management perspective.
 
About JPMorgan Chase
 
JPMorgan Chase is a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers and businesses, financial transaction processing, asset and wealth management, and private equity. Under the JPMorgan, Chase and Bank One brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients.
 
If you're interested in working in an environment where leadership, excellence, integrity and diversity are among our core principles, then explore the opportunities at JPMorgan Chase.
 
The Rates Exotics & Hybrids Business

The Rates Exotics & Hybrids business provides sophisticated rates markets risk management solutions for our clients. Products traded include vanilla hedging instruments (futures, swaps, caps/floors, swaptions, forwards), exotic interest rate derivatives (Snowball, Range Accrual) and hybrid structures (power reverse dual, FX Tarns, multi asset).The range of products is always growing, limited only by imagination, and our ability to develop pricing models and hedging strategies. Our clients are predominantly governments, banks, other financial institutions (e.g. pension funds, asset managers) and large corporates.
 
Rates Exotics & Hybrids Middle Office

The Exotics & Hybrids Middle Office provides first-line support for the IR Hybrids trading business and acts as a key point of contact for numerous downstream groups.  It must manage the accurate capture of the transactions and report on the subsequent risks resulting from these transactions.
The group consists of two teams -Risk Management and Trade Management.  The generic responsibilities for these teams are described below:
 
Risk Management
·         Produce and validate daily P&L and Risk positions for the desks
·         Investigate and resolve queries from Front Office
·         Create and run ad-hoc scenarios for trading desks
·         Stress Testing
 
Trade Management
·         Act as the primary control over the accurate capture of the business' transactions in the Risk Management System
·         Analyse and verify Risk and P&L for transactions traded during  each day
·         Monitor and manage trade events throughout the lifecycle of the transactions, e.g. option exercises, knock ins/outs,  refixing
·         Review legal documentation for accuract vs. the Risk Management System
·         Liaison with Marketing support and downstream groups
 
Risk Management Bookrunner
 
The Risk Management team provides the desk with daily P&L and risk positions. The team also provides analysis and impacts on second order risk from IR/FX smile positions to IR/FX/Equity DdelV positions. Further responsibilities include reporting daily risk positions to VaR and uploading daily limits for market risk reporting purposes.  The team currently consists of 12 people
 
We are looking for a Bookrunner to work within the Risk Management team.  Responsibilities include -

    * Building an in depth understanding of all trading structures from both a financial and operational perspective
    * Understanding and carrying out daily tasks including P&L, risk position production and investigation and responding to queries.
    * Providing impact analysis on market data remarks
    * Providing risk perspective and analysis on new project workstreams
    * Continuously assessing and improving current control

Dependent on experience / performance there are also opportunities to supervise a team, with the following additional responsibilities

    * Personal Development management - Identifying opportunities for team members to learn / build on skills, agreeing development plans and writing appraisals
    * Staff resourcing - Ensuring that the team have the capacity to complete all daily tasks
    * Subject matter expert - Bringing Risk management perspective to team wide and project initiatives
    * First point of contact for other groups (such as Market Risk, RET, Accounting & Control, Front Office)

We are looking for candidates who display drive and enthusiasm, who are highly numerate, work well as part of a team and have strong communication skills.
 
To facilitate a candidate being fast tracked into the Risk Management group, a background in OTC derivatives is required and P&L/Risk production experience would be preferred.
Qualifications
Skills/Qualifications

    * Product knowledge - From vanilla products through to tailored, cutting edge hybrids, across fixed income, but also incorporating FX, equity and credit
    * Understanding of risk types - Market (positions), operational, settlement, credit, legal and reputational
    * Systems skill - Risk management and reporting systems, straight through processing, excel (VB)
    * Problem solving - Developing and implementing solutions to often complex issues
    * Control - Understanding and implementing the control framework to mitigate risks through the transaction cycle
    * Project Management - Delivery of tactical and strategic systems/process solutions
    * Networking and the bank-wide perspective - Understanding the needs of other groups and the importance of relationship building through extensive interaction

JPMorgan offers an exceptional benefits program and a highly competitive compensation package.

JPMorgan is an Equal Opportunity Employer.
 
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chasebrands. Information about the firm is available at www.jpmorganchase.com