On-Hand Experience in Pre-Management of Cash Equity Trades / Fails Management

Abstract

My summer internship at JP Morgan Chase & Co began on 3rd May, 2021. I was selected as a part of the Corporate Analyst Development Program (CADP) and assigned in the Corporate and Investment Banking (CIB) Line of Business. The internship started with the induction and orientation where we were informed about the policies and work culture at JPMC through a series of interesting modules and tasks to be accomplished within our workspace systems. It was a smooth onboarding experience. In the second week I was assigned in the Pre-matching and settlement team and introduced to my manager, buddy and other team mates. We were given training sessions on using and accessing the systems on a daily basis. My profile was to understand trade flows and the flow of systems between Front Office (FO) and Middle Office (MO) and the Back Office (BO), gain on-hand experience of Pre-matching cash equity trades, learning to use software applications (Middle Office and Back Office systems) and understanding Fails management (Prioritization, Escalation and Exceptions). This report is divided in three sections. The first section covers the profile of the organization. This section is divided into three sub-parts- Information about the company that includes the company details, products and services offered, financial performance, competitors, recent developments, business segments and business principles among other topics, Company Analysis, wherein I have included the SWOT analysis, Porter’s 5 forces analysis and PESTEL analysis and finally Industry Analysis that includes a brief overview of the industry, major players, emerging trends and the impact of covid-19 on the Banking and Financial services industry. The second section of the report covers the work done in the organization which includes the project description, tasks accomplished in phases, important concepts learnt, key challenges faced, work culture and power equations at JPMC among other topics. And finally, the last section of the report covers the Observations and Learnings during my internship at JPMC.