Junior Portfolio Manager, Associate

Join the team at JPMorgan that is  responsible for dynamically hedging the firm’s $8 billion Mortgage Servicing Rights (MSR) using linear and non-linear rate products as well as mortgage products. .

As a Junior Portfolio Manager, Associate on the Chief Investment Office Mortgage Servicing Right Hedging Team, You will be responsible for devising and executing hedging strategies for the firms MSR assets.

 

The CIO (Chief Investment Office) Mortgage Servicing Right (MSR) hedging team within TCIO is looking for an associate in its New York City office. The team is responsible for dynamically hedging the firm’s $8 billion Mortgage Servicing Rights (MSR) using linear and non-linear rate products as well as mortgage products. The team works closely with Chase Mortgage Bank to understand MSR asset’s sensitivity to input assumptions and formulate/execute efficient hedging strategies regarding longer term trends.

 

The Treasury and Chief Investment Office (TCIO) at JPMorgan Chase & Co. is responsible for firm wide asset and liability management for one of the world’s largest global financial institutions with more than $3.9tn in assets and liabilities, including more than $2.4tn in deposits. 

TCIO is responsible for developing and executing the firm’s capital, balance sheet, liquidity and funding strategy. TCIO oversees a ~$665 billion global investment securities portfolio used to manage the firm’s interest rate and currency exposure. 

 

Job Responsibilities:

• Develop and maintain analytics related to the hedging of the MSR asset using various rate, volatility and mortgage related hedging products
• Support senior portfolio managers to formulate and execute hedging strategies in interest rate and mortgage related products
• Analyze macroeconomic developments and summarize key trends to senior portfolio managers
• Build and maintain relationships with sell-side counterparties to develop market insights and compile useful research
• Work with business partners across different lines of businesses on collaborative projects

 

Required Qualifications, Skills, and Capabilities: 

• Minimum of 3 years’ experience in related field
• Bachelor’s degree required
• Strong quantitative and analytical skills are required (Visual Basics for Applications (VBA) is required
• Ability to comprehend complex quantitative models and capacity to adopt models in response to market conditions
• Detail- oriented and able to work independently in a fast-paced, results driven environment
• Project management skills – lead development for multiple projects simultaneously, while providing timely project status report to managers and coworkers
• You must have excellent verbal communication skills and be able to convey both market analysis and results from quantitative analysis concisely to senior portfolio managers
• Ability to collaborate well with others in a team environment
• Strong interest in macro environment, economics, and markets
• Basic understanding of fixed income concepts including interest rate products or MBS (Mortgage Back Security) products  

 

Preferred Qualifications, Skills, and Capabilities:

• Python knowledge is highly preferred
• Understanding of options and option Greeks is helpful but not required

JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary determined based on the role, experience, skill set, and location. For those in eligible roles, we offer discretionary incentive compensation which may be awarded in recognition of firm performance and individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

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 co