Exotics and Hybrids Trade Support - Analyst

Greater London
Full time
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JP Morgan
Banking, investment & finance
10,001+ employees
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If you display drive and enthusiasm, are highly numerate, work well as part of a team and have strong communication skills, then this role is for you! Join us to grow your career in Trade Support.

As an Exotics and Hybrids Trade Support - Analyst in Middle Office team within the Investment Bank, you will be providing first-line support for the Long Dated FXHybrids business and acting as a key point of contact for downstream groups. You will be also working with the most exotic and complex derivative products from a risk, Profit and Loss (P&L) and trade management perspective.

The FXHybrids Middle Office provides first-line support for the FXHybrids trading business and acts as a key point of contact for numerous downstream groups. It must ensure the accurate capture of the business’ transactions, systematically managing product complexity, report on the subsequent risks resulting from these transactions, and present attributed P&L to the desk on T.

Job responsibilities

  • Acts as the primary control over the accurate capture of the business’ transactions in the Risk Management System
  • Analyses and verifies Risk and P&L new for transactions traded during each day
  • Monitors and manages trade events throughout the lifecycle of the transactions, e.g. option exercises, knock ins/outs, refixing
  • Reviews legal documentation for accuracy vs. the Risk Management System booking
  • Liaises with Marketing support and downstream groups
  • Produces and validates daily P&L and Risk positions for the desks
  • Investigates and resolves P&L and Risk queries from Front Office
  • Creates and runs ad-hoc risk scenarios for the trading desk which can involve producing impact of parameter changes, hypothetical market situations, what if, worst case etc.
  • Conducts stress testing scenarios for Trading and Market Risk
  • Produces risk reports for use by Valuation Control Group (VCG)
  • Produces Risk and P&L impact analysis for QR resulting from model or analytical changes

Required qualifications, capabilities, and skills

  • Product knowledge – understanding of vanilla and complex fixed income products (Vanilla Products: FXOptions, IR Swaptions, Swaps, XCCY Swaps, Equity Options; Complex Products: Power Range Dual Currency Swaps/Notes (PRDC) is our main product)
  • Risk - understanding of the greeks
  • P&L - understanding of trading P&L and key drivers
  • Understanding of risk types – market, operational, settlement, credit, legal and reputational
  • Systems skills – understanding of risk management and reporting systems, straight through processing, Excel/Access is certainly helpful
  • Problem solving – developing and implementing solutions to often complex issues
  • Control - understanding and implementing the control framework to mitigate risk through the transaction lifecycle
  • Projects - assisting in the 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