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Agency Lending Operations provides regional operational support for our Agency Securities Lending business.
Securities Lending as agent lender provides equity and fixed income securities to broker dealers to facilitate their proprietary and client trading strategies. Where they have a requirement to borrow securities the lending desk negotiates a fee for the loan based on supply and demand and the type of underlying strategy. With 4 desks globally, JPMC offers a 24 hour service in 37 different markets.
The main functions of the team are:
Providing operational support for the Securities Lending Trading desks
Monitoring client sales, and ensuring adequate inventory for settlement
Assist the trade desk to recall or swap positions for proxy events, buffer management, MSCI rebalance and client transitions
Monitoring of Securities Lending trades to ensure settlement, liaising directly with counterparties and agent banks
Corporate Actions - ensuring manufactured income and stock entitlements are claimed from borrowers on pay date. Provide support for the Securities Lending desk with any urgent queries. Reconciliation of on-loan positions where required for events with a short-turnaround (e.g. RAPIDs). Local point of contact for internal and external queries in the Asian time zone. Working with the APAC Trading Desks to facilitate and support the optimization of client revenue via Corporate Action Trading. Providing timely responses on any queries received from our business partners
Collateral Management - ensuring sufficient collateral is maintained at all times for the stock on loan in our Discretionary program. Products - Cash & Non-cash Collateral (triparty & bilateral. Assist APAC client teams with any queries relating to reporting and the products we offer
Reviewing and reporting on daily compliance data.
Transitions of Assets for APAC clients due to client requests. Cover incremental requests for client re-structures in APAC time zone.
In addition, the administrator is also expected to protect the clients' and Banks' interests at all times and ensure that their integrity is maintained within the market place. To maintain optimum service level for all clients ensuring any reasons for and proposed solutions to, negative trends are documented and escalated.
Key Accountabilities/Major Responsibilities:
1. Key Risk & Control Environment Compliance
Review current processing to ensure all controls maintained and up to date to fit with the current tasks.
Identify gaps in processes and full compliance of SSAE16.
Responsible for documenting and updating current workflows and task lists. Implementing any new controls and changes to workflow after appropriate sign off to minimize financial loss
Inform and work with Risk Management upon identifying potential risks.
Pro-actively assess and recommend process improvements to assist in risk mitigation
Communicate all issues effectively and ensure understanding by the team.
Escalate issues to the Manager and be involved in taking action to escalate and resolve with the other party. A review is to be done on the issue to ensure procedures are updated.
Investigate and when applicable, assist in implementing new procedures or systems that enhance the overall service of the group.
Ensure all work received is actioned, accounted for and all control procedures are adhered to. Issues raised must be either resolved or escalated if necessary.
To ensure that the specialist's Checklist is followed and all items actioned on a daily basis, with sign off occurring throughout the day as necessary.
To be involved in the resolution of outstanding issues, to make decisions based on precedent and experience when confronted with frequently conflicting priorities. Where necessary, liaise with other areas to agree a satisfactory conclusion, ensuring minimum impact to Trading Services
Be involved in the review of workflows, review reporting of all KPI's, and other MIS statistics required by management.
Assist in tracking trends in work volumes, including reconciliation errors and document any negative trends and proposed solutions.
Knowledge and Experience Required:
Minimum 3-4 years experience in Securities Lending, Collateral Management, Settlements, Trade Support/Middle Office or COACs role
Excellent knowledge of Global Financial Markets
Proven track record in a busy / dynamic operations environment
Good understanding of Microsoft Excel
Understanding of the workflows of a custodian
Bachelor degree or above preferred
Japanese language skills is an advantage
Strong inter-personal and communication skills with the ability to build strong relationships with strategic internal & external partners
Ownership and Accountability
Excellent analytical and numerical skills
A strong controls focus
Continued focus on improving processes and procedures
Ability to Managing Work under pressure and to strict deadlines