Rates Exotics and Hybrids Middle Office Senior Associate

Join our Rates Exotics & Hybrids Middle Office team-drive risk control, PnL analysis, and support complex trading operations!

As a Rates Exotics and Hybrids Middle Office Senior Associate in the Rates Exotics and Hybrids Middle Office team you will provide first-line support for the Rates trading business and act as a key point of contact for numerous downstream groups. You will ensure the accurate capture of the business' transactions, systematically managing product complexity, report on the subsequent risks resulting from these transactions, and present attributed PnL 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
• PnL: Understanding of trading PnL 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
• 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

ABOUT US

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world's most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. Visit our FAQs for more information about requesting an accommodation.

ABOUT THE TEAM

J.P. Morgan's Commercial & Investment Bank is a global leader across banking, markets, securities services and payments. Corporations, governments and institutions throughout the world entrust us with their business in more than 100 countries. The Commercial & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.

Client-provided location(s): London, United Kingdom

Job ID: JPMorgan-210670103

Employment Type: FULL_TIME

Posted: 2025-09-30T19:40:35