JPMorgan Asset and Wealth Management Operations Position
Company Overview
JPMorgan is a global leader in asset management services. We serve four distinct
client groups through three businesses: institutions and retail clients through
Investment Management, ultra high net worth clients through Private Banking, and
high net worth clients through Private Client Services. With assets under supervision
of $1.5 trillion and assets under management of $1.2 trillion, we are one of the
largest asset and wealth managers in the world.
JPMorgan Asset Management Core Operations is located on the Morgan Christiana
Campus in Newark, Delaware. The group is made up of roughly 150 employees
performing support functions for the Front and Middle Office groups that are located
in New York, NY and Columbus, Ohio.
Corporate Actions/Private Placements
Portfolio Services is made up of two separate business functions, the Corporate
Actions and Private Placements groups. The Corporate Actions Team is responsible
for retrieving, interpreting, and monitoring all related corporate actions events that
are announced in the market. The role communicates with portfolio managers and
traders on a regular basis to relay their decisions in the market and work with a wide
array of custodian banks to ensure our portfolios are kept up to date. The position is
also responsible for reflecting event data on our JPMIM accounting system in an
accurate and timely fashion so that the portfolio managers can effectively manage
the assets on behalf of our clients.
The Private Placements Team is exposed to numerous types of complex asset
structures that exist in the private markets such as mortgage loans, real estate
investments, and bank loans. The role works closely with portfolio managers to
provide support in closing deals with borrowers and work with external agents and
legal firms to ensure the deals settle timely. The position is also responsible for
servicing the loans through insurance reviews, financial reviews, and other payment
or structure changes and communicating with the portfolio managers on a regular
basis.
Cash Operations
Delaware Cash Operations consists of four business functions; Cash Management,
Fund Trade Processing, Funds Transfer Agency and Payments. All roles require
extensive exposure to Client Service and Portfolio Managers, Custodians, Transfer
Agents and other trade processing groups.
The Cash Management Team involves the monitoring of daily transactions and daily
investing and divesting in Money Market securities. The role also involves overdraft
reporting and resolution and instructing custodians on Real Estate, Commingled and
Mutual Fund trade settlements.
The Fund Trade Processing role involves trade execution for JPM Mutual Funds,
Commingled Funds and selected offshore funds. The position also involves providing
trade and settlement support for JPM Mutual Funds.
The Funds Transfer Agency Team handles Defined Contribution (DC) and Defined
Benefit (DB) trade reporting for NAV calculations on Commingled Funds, working
closely with the custodians, record keepers and Fund Accounting. The role also
involves monitoring, processing, and instructing Cash flows for Mutual and Subadvised Funds on behalf of clients.
The Payments Team handles wire and check processing for all Institutional clients,
issuance and settlement of compensation claims, and the review and analysis of DDA
invoices.
Reconciliations
The Reconciliations Department is divided into two areas, Identification and
Resolution. The Identifications Team is responsible for reconciling Custodian Cash
and Security Position Holdings to JPMIM Accounting Records. This reconciliation
includes identifying and referring client account discrepancies to the responsible
parties within JPMIM. The Resolution Team researches and resolves cash and
security discrepancies identified by the reconciliation process between JPMIM and
custody.
Fee Billing
The Fee Billing team is divided into three areas, Quality Control, Billing and Finance.
The Quality Control team is responsible for the creation and maintenance of all billing
records, quality review invoices, initiate direct debits and apply payments to client
accounts, and perform cash reconciliation. The Billing team calculates and produces
invoices for individually managed Institutional accounts for both New York and
London. The invoices are produced monthly, quarterly and annually. The Finance
team estimates monthly revenue, posts entries to the general ledger, completes
tolerance checks for month-to-month variances and reconciles ledger to sub ledger
monthly. All teams respond to queries from clients, custodians, and other JPM
business groups.
Client Service Administration (CSA)
Client Service Administration set up, update and close accounts for institutional client
accounts, maintain related records; prepare or assist in preparing any necessary
documents. The team prepares client portfolios for trading, communicates with Client
Service Managers and Portfolio Managers on specifics surrounding client accounts,
they promptly address/respond to standard and special instructions, inquiries, or
requests of clients. The team is also responsible for coordinating the receipt and
transfer of assets with various internal and external parties. Monitor activity to
ensure compliance with internal and external policies to prevent money laundering
and fraud, prepare tickets for cash flows, and coordinate the investing/divesting and
movement of cash per client instructions and complete/distribute periodic client
reports/statements.
Data / Income
The Data Oversight team is primarily responsible for ensuring the accuracy of new
asset setups and maintenance within numerous systems that are used for
accounting, trading, and portfolio management. This includes the resolution of
issues as they occur as well as root cause analysis to avoid the issue in the future.
The team is also responsible for resolving exception breaks that are a result of
incorrect income postings as well as monitoring the open accruals.
Qualifications
 Bachelor’s Degree in Accounting, Business Administration, Economics, Finance
or equivalent work experience
 Ability to work in deadline oriented and controlled environment
 Ability to demonstrate flexibility and adaptability to rapidly changing business
and technology needs
 Self motivated and proactive with the ability to work in a team
 Knowledge of financial instruments and desire to learn new instruments and
financial techniques
Skills
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Strong attention to detail, good analytical and problem solving skills
Excellent written and verbal communication skills
Organizational, time management and multi-tasking skills
General knowledge of Microsoft Suite with in depth knowledge of Excel
Strong communications, interpersonal, and consultative skills
Self-motivated individual with a “can-do” attitude
Excellent analytical ability and proficient technical skills
Comprehensive understanding of the financial markets
Ability to work independently
Individuals interested in this position should email resumes to:
amy.l.benton@chase.com.