Wholesale Payments, Treasury Payments Product Manager-VP
Vice President, Treasury Payments Product Manager About Wholesale Payments
Wholesale Payments (WP) - the world's largest cash management provider - moves, concentrates and invests client money. WP products include payments, collections, trade finance, investments, and information services that help companies manage working capital and liquidity. The business, which operates in more than 40 countries, is the world's largest U.S. dollar clearer, processing an average of $3.2 trillion in fund transfers each day. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their cash business to J.P. Morgan.
T he Team
Transaction Services Treasury Payments team is part of the Global Clearing product management team and is focused on managing and developing JPMorgan's Treasury products which include Treasury Payments, Clearinghouse Settlement, CLS USD Nostro Services as well as intraday liquidity, and Priority/Timed payments. The team strives to make JPMorgan the world's best Treasury Payments Bank while effectively managing the associated risks. The Role
This position is for a USD Treasury Payments Product Manager with specific responsibilities for Clearing House Settlement and CLS USD Nostro Services.
Treasury Payments generally consist of high value, time sensitive, non-discretionary bank-to-bank payments. These can include margin calls, dividend or loan repayments, funding obligations, or other transactions with potential impact if delayed. Two key categories of Treasury Payments are involving Clearinghouses and CLS Bank.
The Clearing House Settlement Service supports J.P. Morgan's clients who are members of a clearinghouse or central counter party (CCP) in meeting their settlement obligations such as margin calls. Continuous Linked Settlement (CLS) is designed to eliminate settlement risk between FX counterparties and is operated by CLS Bank, an industry utility that is jointly owned by some of the largest banks/ FX exchange players. JPMorgan's CLS USD Nostro service supports some of JPM's largest USD clearing customers who are members in CLS Bank but do not self-clear U.S. dollars.
This individual interfaces with some of JP Morgan's most valuable clients, clearinghouses and CCPs and CLS Bank to ensure that these critical services are offered to clients while mitigating the risks associated with these products. The individual should have an inquiring aptitude to understand the key drivers of supporting the Treasury Payments business and to drive strategies to mitigate risk, enhance the P&L and create new business opportunities.
Knowledge of Treasury Payments, USD clearing, securities clearing, and FX settlement is desirable. Key Responsibilities:
This individual will responsible for managing the Clearing House Settlement Service (CHSS) and the CLS USD Nostro Service.
- Supporting all clients discussions and providing RFP responses on CHSS and CLS product inquiries
- Working closely with external clients and partners across LOBs: sales/service, implementation, tech & ops, risk, compliance, legal and other groups to ensure proper due diligence and review prior to presenting to stakeholders
- Ensuring client-facing materials, agreements and internal job aids are accurate, up-to-date and position/protect appropriately
- Identifying and implementing the technical and business requirements to support additional clearinghouses
- Deepening relationships with clearinghouses, CCPs and CLS Bank to ensure information exchange and alignment with strategic initiatives
- Maintaining governance models for CHSS and CLS USD Nostro Service and drive ongoing reviews of clients
- Off boarding clients not meeting criteria or dormant accounts to maintain a clean, risk-managed product portfolio
- Work with Implementations to ensure set-up/ off boarding completed properly
- Supporting annual due diligence reviews with CCPs
- Ensuring that CHSS and CLS USD Nostro products are handled properly with respect to Systemically Important Payment framework, including monitoring and opportunities to reduce cost
- CHSS and CLS USD Nostro global pricing and cost review for consistent approach to ensure firm-wide relationships are priced appropriately.
- Reviewing and approving billing of CLS USD Nostro clients
- Developing and monitoring product performance metrics
Risk and Controls
Qualifications Key Skills / Experience Required
- Driving risk and control agenda to improve controls for time sensitive payment flows including escalation and contingency models
- Working with clearinghouses and CLS Bank as needed to support industry initiatives
- Monitoring client behavior regarding timely funding and working with TSMs to ensure funding is available prior to time-sensitive processing windows
The successful candidate for the role will ideally have strong communication skills, an attention to detail, a strong risk and control orientation and the ability to transform this knowledge and expertise into business results.
Competent understanding and/or previous experience in relation to one or more of the following products:
- High Value (wire) transfers, Fedwire, SWIFT MT202s
- Clearinghouse Settlement
- Securities services including custody, transfer agency and other funds services
- Working knowledge of the Treasury Services Operations, Technology, and Service model would be an advantage
- Development and documentation of all procedures, documentation, SLA's, client-facing materials and legal agreements
- Development of ongoing executive management communications
- Risk management and control remediation
Advanced proficiency is required as a minimum requirement for the following:
- Self-motivated and driven to achieve targets and deliverables
- Relationship building and influencing skills
- Communication skills - able to articulate / apply interpretation of metrics or business requirements across multiple business functions and at differing management levels
- Organisational skills and time management
- Presentation skills - written, visual, and verbal
- Leadership skills - able to bring multi-functional groups together to work towards a common goal
Product Management Primary Location
US-NY-New York-4 New York Plaza / 02324 Organization
NA TRANSACTION SERVICES Schedule
Full-time Job Type
Day Job Recruiter
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