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Agency Lending Equity Trading is ultimately responsible for all trading activities and decisions around discretionary lending programs including owning the borrower relationship, client revenue maximization and performance optimization.
The Trader represents JPMorgan Securities Lending within the borrower community and owns the borrower agenda within JPMorgan; ensuring they translate & deliver the client lending mandate into meaningful borrower derived revenue opportunities and wider JPM strategic securities lending agenda.
The Analyst on the US Equities and Corporate Bond trading desk is the entry level role and the person will work with the trading team to generate reports, analyse data and trends apply technical skills and gain experience in securities lending. Ultimately, the role is expected to develop away from the traditional agency lending trader towards a research-sales trader with goal of making JPM Agency the preferred lender of choice to the borrower community.
In addition to the Role Overview, for the Trading Analyst will:
Generate reports for traders, clients, clientfacing teams and management as needed. These reports are used to identify tradeopportunities, identify trends, provide oversight and supervision and quantifyresults. The analyst will bring a fresh approach to using data to increasingP&L.
Partner with client coverage teams to providemeaningful analysis.
Be assigned a participation role in projectsranging from technology changes and upgrades to new product testing andimplementation.
Partner with the traders to learn the role,initially backfilling where needed and eventually transitioning to a"full-time" trader.
The overview of the "full-time"Trader Role:
Act as an SME and "go to person" for theirmarket / cluster of equity lending markets
Be responsible for all trading aspectsrelating to their market(s)
Contribute to and exceed YoY revenue for theirmarkets (revenue as outlined in yearly plan)
Maximize risk-adjusted revenuesby negotiating most favorable rates; analyzingclient's portfolios to driverevenue opportunities
Work with Desk heads , Product Control & SeniorManagement to own the revenue / plan and forecasting for their markets
Articulation of revenue variances (WoW / MoM) andany meaningful market events that could result in deviations to plan ( /-)
"Week / Month Ahead"; feed into desk head / weeklymeeting on revenue focus areas for the Month
Provide insight / Commentary/ thought leadership on aroundre-rates opportunities, trading strategy & JPM positioning for all specials/ warm stock
Frequent review of market / individual stock buffers/ collateral expansion opportunities; working with stakeholders to monetise
Analyse any cross market / sector drivenopportunities; work in partnership with other traders; especially Corp Bondtrading
Work in close collaboration with Desk Head / CashReinvestment desk to spot term reinvestment opportunities (bullet, evergreen,extendables) and market liquidity conditions
Work withPricing / QR to look at look at new benchmarking platforms / data sources;refine offer rate methodology to maximize return to lendable
Communicate potential market and regulatorydevelopments, identifying potential revenue opportunities and acting in a marketfacing consultancy/advisory capacity to wider JPM stakeholders
Maintain close partnerships and communication flowswith Borrowers, Product, RM's, IS Sales, Legal and Tax
Frequent meetings with borrowers;internal/external & ad-hoc.
Maintain a detailed awareness of the borrowerrequirements and their binding constraints; translating these into actionablerevenue opportunities
Input into borrower quarterly borrower /client reviews; being accountable for any follow up items assigned to them
Regular interaction with sales / relationshipteams to better understand client dynamics, upcoming opportunities &provide timely market / competitive insights
Regular updates with tax & legal to keepabreast of wider macro changes that could affect their market(s)
Produce call memos and reports in a timelymanner; emailing to the Agent Lending Call Reports distribution after keymeetings and discussions with counterparties; being accountable for any followup items assigned
Provide timely commentary on any deals/tradeopportunities happening/ upcoming in their markets. Depending on type of deal opportunity thisshould include, but not limited to:
One pager commentary on opportunity - communicatedacross all RM and wider IS Sales partners
Arrange and lead "teach-in" sessions for any deals /trade opportunities
"Own the opportunity"; coordinate & driveaccountability across JPM stakeholders to deliver client (lending / nonlending) revenues
As part of wider counterparty connectivity endeavours; own the NGT flowsfor their markets:
Articulation of % of balance / revenue booked on NGT (including YoYtargets for STP)
Accountability for review of rejection reasons & necessary followups
As part of wider desk strategy, develop andexecute an annual market strategy plan with focus on revenue maximisation &product extensions
Act as desk lead / SME for product development/ enhancement; accountable for desk deliverables / and articulation of implementation date
Work withoperations stakeholders to assist in clearing any operational noise withborrowers - fails monitoring; billingissues; outstanding payments; corporate actions - feed these into borrower quarterlyreviews
Internal Number: 6480653
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