- Due Diligence
- Performance Management
- Portfolio Management
- Project Management
- Regulatory Reporting
- Relationship Management
- Risk Assessment
- Risk Management
CIB Operations - Bank Network Manager (Securities) - Vice President - Hong Kong / Singapore
Location: HK-Hong Kong-Hong Kong-One Island East / 31141
CIB CAO - APAC Network Market Manager - Securities - VP– Singapore/HK
J.P. Morgan’s Global Market Infrastructures (GMI) is a global function within the Chief Administration Office (CIB), responsible for managing the Firm’s network of critical third party providers to meet the Firm’s requirements for cash and securities services for its proprietary and client activities. These critical providers include Financial Market Infrastructures (Payment Systems, Central Counterparties, Securities Depositories and Cheque Clearing Systems) and Agent Banks (cash correspondent banks, partner banks and securities sub-custodians and clearing banks).
GMI leverage the standards of the Firm’s Third Party Oversight (TPO) program to select, maintain and exit Financial Market Infrastructures (FMIs) and Agent Banks in scope, thereby meeting the Firm’s regulatory requirement to manage critical third parties as well as the Firm’s standards and client expectations. In doing so, we support and work closely with all the Lines of Business (LOBs) across the Firm.
Within GMI, the Market and Infrastructures Management (MIM) team is responsible for the procurement, management and oversight of the various aspects of the Firm’s membership and relationship with FMIs and Agent Banks, meet the TPO requirements, assess the underlying risks, ensure we meet all regulatory requirements, and manage our spend. The MIM team is also responsible to understand the markets covered, track and evaluate market developments, lead and participate in market or industry discussions to represent the interests of the various LOBs and their clients. Where we are represented on the board of FMIs or FMI committees, we act as coordinator across the businesses, briefing the relevant JPM parties involved and fostering strategic discussions to represent the interests of the Firm and the Firm’s clients.
The MIM team works closely with the GMI Network Service Management (NSM) team in the areas of performance management, regulatory reporting and audit, and with the GMI Network Client Consulting (NCC) team for communicating the market information to the LOBs and their clients.
The Network Market Manager will be part of a team that is responsible for managing markets in 17 countries in the Asia Pacific region. The position will focus primarily on securities market products.
The Market Manager undertakes periodic on-site due diligence visits to each market under their responsibility to maintain strong effective relationships with sub custodians and local market participants, to assure that regulatory requirements are being adhered to, quality services being provided and the timely delivery of market information to JPM's internal and external clients. The Market Manager also monitors market developments and will be involved in targeted lobbying efforts on behalf of clients and the Firm with local market infrastructures. The position also prepares analysis of service and product gaps to develop solutions as well as identifying opportunities to expand JPM's product and network coverage in existing and new emerging markets working with our partners in the business lines product companies. They will also instigate and manage any RFPs launched in local markets (either existing or new) along with the Network Service Management Team.
Roles and Responsibilities:
Management of a portfolio of FMI memberships and Agent Bank relationships, managing the external interfaces with the relevant people and functions within the FMIs and Agent Banks up to senior levels both for escalation and strategic discussions, and also with the local regulators, where required.
Negotiation of contractual arrangements and fee schedules, where applicable, and manage JPM spend with FMIs and Agent Banks.
Provide detailed market expertise to support clients and internal business lines
Analyze and draft market information updates/news for clients
• Research and open new securities markets
Conduct sub-custodians and FMIs due diligence visits in country (therefore business travel to your markets of responsibility will be required on a periodic basis), address TPO requirements with the support of the Core Delivery team, Legal, Market Infrastructure Risk, Third Party Risk Management and CIB Resiliency teams.
Updating product companies in respect of market/country crisis events from an agent bank and market perspective
Support the Network Client Consulting (NCC), Network Service Management (NSM) and Industry Issues teams in responding to regulatory requirements and clients enquiries including investor documentation requirements, market developments, market infrastructure reviews and market issues
Develop and maintain market information tools (Market Profiles, Settlement Risk Assessments, Depository Assessments, White Papers, etc)
Conduct RFPs and RFIs to identify alternative custodial providers, where required
Contribute to agent transitions managed by NSM
Support global Network projects which require individual market input (Capacity, Efficiency Initiatives, New Processes, New Products, New Legal Entities, etc.)
Market overview/developments presentations to clients (conference calls, telepresence, forums and meetings) both internal & external, where required.
Proven experience in the securities industry
Previous experience in Network Management, at a Global Custodian, Sub Custodian, or Broker Dealer and with Third Party Oversight (TPO)
Strong knowledge of securities markets activities including:
•Detailed knowledge of securities markets, businesses and products•Market infrastructures including CSD, Exchange, Central Bank, CCP and regulatory bodies•Knowledge of securities regulations as it relates to overseas custodians (ERISA, 1940 Act-Rule 17f5, 17f-7, FCA, CASS, AIFMD, FATCA)
Strong risk management, compliance and controls skills both operationally and market focused
Excellent negotiation, relationship management and influencing skills
Strong communication, analytical and project management skills
A self motivator who works well with an integrated global team