CIB Operations – Asia Bullion Physical Operations - Singapore

  • Competitive
  • Singapore Singapore Singapore SG
  • Permanent, Full time
  • J.P. Morgan
  • 21 Aug 18 2018-08-21

CIB Operations – Asia Bullion Physical Operations - Singapore

Job Description:
CIB Operations - Global Commodities Physical Bullion Operations -Singapore

Business Overview:
About J.P. Morgan Chase & Co.
J.P. Morgan is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. Information about J.P. Morgan is available at www.jpmorganchase.com

About J.P. Morgan's Corporate & Investment Bank
J.P. Morgan's Corporate & Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.

About J.P. Morgan's Global Commodities & Physical precious metal
Global Commodities is a leading market maker in the precious metal OTC markets and provides physical as well as the conventional metal clearing services.
Physical precious metal services we provide to the market include:
• JPM Physical vaulting across 4 major global locations
• Wholesale Physical Bullion
• Consignment Agreements in India, China, Hong Kong and Thailand
• Confidential & secure transportation of precious metals.
• Refining and Recasting services
• Location swaps
• Numismatic Services
• Custodian for ETF precious metal products
JPMC has a strong Asia presence in Physical Bullion operating out of multiple global vaulting centres. The Asia desk supports physical trading in main locations such as India, China, Thailand, Hong Kong and Singapore, and won the Best Overseas Bullion Supplier for consecutive 3 years at the India International Gold Conference.
We also offer clients precious metal clearing services for precious metal transactions within the major loco London market and at other global settlement locations. Participants in the precious metal markets hold unallocated and allocated precious metal accounts with either JPMC or one of 5 other investment banks that through the London Precious Metals Clearing Ltd manage the London precious metal clearing process.
JPMC has a long heritage of providing precious metal services and currently holds a 45 % market share of the London Clearing, transacting up to 5,000 transactions per day. The London clearing transacts approx $ 40 bn value in metal transfers each day on behalf of participants in the London market.

Team/Key Responsibilities:
• Scheduling global logistics of bullion in line with global inventory and trading strategy
• Maximise business P&L through negotiation of shipping and storage tariffs with key logistics partners
• Effective upward communication and partnership with Global management team in London
• Reporting for Credit, Insurance, asset values by location
• Global liquidity management
• Coordinating client physical receipts and deliveries of physical to/from JPM and 3 rd party vaults
• Perform key reconciliations for inventory, both system to system and to 3rd party partners.
• Contribute to strategic delivery of target state physical operations system, working closely with the commodities projects/tech teams
• Month end reporting and reconciliations
Qualifications Key Skills / Experience:
• Expected to be able to work under pressure in a fast paced environment for extended periods and meet deadlines.
• Need to demonstrate first class client service skills.
• Maintain and develop excellent relationships with external clients and third party vendors globally
• Partner effectively internally with traders, sales desks and other departments.
• Strong accounting / numeric skills
• Strong communication skills
• Be flexible and adaptable in working hours
• MIS preparation and distribution.
• Operate in a highly controlled environment which requires constant re-evaluation of processes.
• Adherence standard operating procedures and check lists.
• Systems development, UAT and implementations.