The Treasury/Chief Investment Office (T/CIO) is responsible for Firm-wide asset and liability management, including:
- Aggregating and managing the interest rate risk of the firm’s four main lines of business (LOBs), primarily through a ~$300 billion global investment securities portfolio.
- Managing the firm’s funding and liabilities through ~$250 billion in long-term debt and other funding sources, and managing nearly $400 billion of short term cash deployment activities.
- Aggregating and managing the firm’s liquidity risk, including deploying the firm's excess liquidity. Also responsible for compliance with both internal and regulatory liquidity requirements.
- Aggregating and managing the firm’s structural foreign exchange risk.
- Risk managing Mortgage Servicing Rights (MSR) on behalf of the Mortgage Bank.
- Managing the ~$14 billion company-sponsored retirement plan.
Because it sits at the very center of the firm, T/CIO directly influences the composition of the Firm’s balance sheet as well the activities of its four main lines of business: Asset Management (AM), Commercial Banking (CB), Corporate & Investment Bank (CIB) and Consumer & Community Banking (CCB).
The execution middle office provides transaction analysis, P&L and risk, and project support to the T/CIO desks which execute transactions and manage resulting positions:
- Portfolio Management. This desk manages the Firm’s investment portfolio, which includes a wide range of fixed income products including corporate bonds, asset- and mortgage-backed securities, municipal bonds, and government securities. It also includes the MSR Hedging group, who utilize a variety of interest rate derivatives (options and swaps) and fixed income products to manage the complex market risks generated by the Bank's mortgage servicing activities.
- Funding. This team manages the implementation of the firm’s funding plan, including multiple forms of long-term debt issuance in all major currencies. It also manages the firm’s short-term cash across both developed and emerging markets using a variety of products, including foreign exchange swaps, repurchase agreements and money markets.
Working as a key member of the Middle Office Trade Support team supporting T/CIO's North America activity, you will be responsible to ensure the business’s dynamic environment is well supported and properly controlled. Due to the constant evolution of business and regulatory initiatives, your role will necessitate your involvement in daily processes as well as special projects. You will work closely with Portfolio Managers to fully understand business drivers and support requirements, as well as colleagues within settlement, financial control, market risk, interest rate risk, liquidity risk, and technology.
A qualified candidate will possess a financial mindset, an appreciation for complex system flows and the controls necessary to ensure their accuracy, an aptitude for root/cause analysis, demonstrated people management skills, and an overriding eagerness to exhibit leadership and drive.
Key Team Responsibilities:
- Keenly understand all transaction flows and controls pertinent to the disparate set of products in the T/CIO portfolio. Whether directly responsible or managing via service level, ensure control processes operate effectively to quickly highlight potential issues in the lifecycle management of positions.
- Address issues as they arise as a matter of urgency. Escalate issues as necessary and distill key messages for management consumption.
- As a means to uncover and address opportunities for improvement or operational deficiencies, perform thorough/extensive root cause analysis.
- Perform extensive review of the T/CIO executed activity to ensure compliance against policies, procedures and regulations. Serve as the central contact for front office supervisory review, surveillance and compliance-related matters.
- Work actively with the funding front office to ensure critical collateral movements and funding flows are successfully settled and represented in the Firm’s risk systems.
- Develop and maintain key metrics to indicate health of individual processes.
- Prepare ad hoc analyses to provide historical context, support business arguments, and/or ensure accuracy of results.
- Identify opportunities and drive the development of technology to support business flows.
- Generate test cases and execute user acceptance testing to ensure new technology delivers and functions as expected.
- In support of business initiatives, participate in global working groups with colleagues from other disciples or other regions. Deliver substantive and meaningful contribution to group’s work product.
- Build and maintain strong business, operations and technology relationships.
- Participate within a strong team of professionals who are fully trained, engaged and contributing to the health of the business.
- Strong analytical skills to understand a diverse set of sophisticated cross-asset products and complex end-to-end workflow
- Detail-oriented with a strong control mindset and experience in reconciliation across multiple systems
- Keen attention to detail and a methodical approach to problem solving
- Effective organization and communication skills
- Ability to multi-task & prioritize in a fast-paced environment
- Strong interest in process improvement, automation, and system enhancement
- Extensive financial instrument product knowledge
- Ability to self-motivate, drive urgently and deliver with fine attention to detail