CIB DPS Network Management – Cash Network Manager – Executive Director – New York
J.P. Morgan's Cash Network Management (CNM) team is a global function within Digital & Platform Services (DPS), responsible for managing the Firm's payment network. These critical providers include cash-related Financial Market Infrastructures (payment systems, central counterparties, and check clearing systems) and Agent Banks (cash correspondent, partner, and clearing banks).
CNM has three central objectives.
- GOVERNANCE The team aligns with the Firm's Third Party Oversight (TPO) program to select, maintain and exit Financial Market Infrastructures (FMIs) and Agent Banks. This contributes to the Firm's regulatory requirement to manage critical third parties.
- SERVICE DELIVERY The team delivers Cash Network products and services to the business based on a shared vision and strategy. This includes traditional as well as cutting-edge payments innovations. From the business perspective, the Cash Network Manager must understand their market portfolio, track and evaluate market developments, and represent the Firm's business and clients in market or industry discussions.
- NETWORK OPTIMIZATION The team procures, manages, and oversees various aspects of the Firm's FMIs' and Agent Banks' memberships and relationships. The team streamlines processes for cost and payment performance management and works with third-party providers to improve service delivery. This includes managing day-to-day escalations and creating sustainable solutions to set JPM's network apart from the competition.
In the Americas, the Cash Network Manager is responsible for FMI and Agent Bank portfolios across the region, working with multiple internal teams to meet key deliverables. Roles and Responsibilities:
- Review internally-generated Cash Network FMI and Agent Bank governance reports per an established due diligence schedule.
- Identify Cash Network risks and issues and lead remediation efforts to manage network risk.
- Own Cash Network FMI and Agent Bank portfolio, managing the external interfaces for escalations and strategic discussions.
- Oversee the regional team responsible for negotiating contracts, fee schedules, and service level agreements with providers.
- Manage JPM's cash-related spend with FMIs and Agent Banks.
- Lead interaction with internal businesses (Treasury Services, Markets, etc.) to align strategy and deliver network capabilities to support key business priorities.
- Lead internal crisis management responses when market events or outages impact JPM's ability to process payments though its network.
- Participate in global projects and/or information gathering to support the business when it relies on an FMI or Agent Bank for service delivery.
- Lead Request for Information (RFIs) and Request for Proposals (RFPs) to assess and select new Agent Banks or services in the Americas.
- Guide the business to ensure relevant requirements are met when engaging new FMIs/Agent Banks, or when buying new services from existing Cash Network providers.
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. Further information about J.P. Morgan is available at www.jpmorgan.com .
- Proven expertise managing high performing teams
- Strong stakeholder management, influencing and negotiation skills
- Excellent written and verbal communication skills
- Cash Network Management or buying experience
- Technical skills in Treasury Services Product, Sales or Operations highly beneficial
- Knowledge of cash clearing systems and agent banks