JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.

Business Background

The Credit Trading & Syndicate business within Investment Bank Fixed Income Division is a market leader in credit products for a wide range of clients globally. The Credit Trading & Syndicate Product Control function is primarily responsible for the Balance Sheet and Capital Management, P&L production and Risk management control of both the standard and non-standard elements of the business.

The Credit Trading Product Control is primarily responsible for the P&L, Risk management and control of both the standard and non standard elements of the Credit business. Products include:

• Credit Derivatives
• Equities (preferred and common stock)
• Bonds
• Loans
• Asset Swaps
• Credit Linked Notes
• Index Trading
• Credit Spread Options
• Complex Asset Swaps
• Secondary Structured Notes
• Total Rate of Return Swaps

Roles & Responsibilities 

Associate level employee who has had 3-4 years previous experience of working within P&L or Risk functions, and 4-5 years total working experience.

The key responsibilities of the P&L team are:

• Production, preparation and reporting of the daily P&L and risk management information

• Understand, produce and explain daily P&L into constituent risk components; investigating any issues as needed

• Review with FO to obtain sign-off and for any ad hoc requests and queries. First point of contact for FO.

• Additional liaison with other middle office areas, back office, FVP and technology development groups and point of contact for all downstream issues (e.g. Collateral, Credit, Settlements)

• Liaison with accounting control group to help investigate any issues around daily monitoring and review of the general ledger to reported P&L and month-end reporting and substantiation

• Manage projects and initiatives related to all of the above as well as larger cross-business programmes

• Be an active part of the team, coming up with ideas and suggestions for improvements etc.

   

  The two most important characteristics required are the potential to succeed and an active interest in P&L, risk and the credit products.
  

Skills required / To be developed

Essential:

• Fixed Income and Derivatives experience in P&L Control or Risk including clear understanding of Greeks analysis.   Equity Derivatives experience is fine.

• Strong interpersonal/communication skills – ability to relay information in a concise and understanding manner

• Professional attitude, strong team player and personable / approachable manner

• Strong attention to detail and ability to work effectively to tight deadlines

• Analytical and logical manner; good at problem solving and devising solutions

• Previous P&L or risk within a derivatives or fixed income securities environment

• Accounting / Control experience- a professional accounting qualification, e.g. ACA, CIMA, CPA

• CFA charter holder