Thread regarding JPMorgan Chase & Co. layoffs

Be careful with Chase

I tried a contract job as a pricing analyst there.

Was suppose to be a 6 month contract with a potential to perm.

I lasted two months.

Why.

It was a new client that just arrived at JPM.

40 people on team.

I worked on money market pricing.

3 feeds 8 am 12 pm 3 pm

1st two feeds no problem along with various other tasks.

What I was informed was if all trades were booked by two pm any and all securities should flow through to pricing vendor.

Nope.

Instead, you had to do a vendor scrape, look to see what the vendor priced, make sure that the scrape did not read after 3pm for any and all securities (if so, you had to go to vendor website to verify 3pm price) If a security did not have vendor coverage look at when the security trade settles, see how many days the security is out until maturity, maybe you could use a cost price or maybe you would have to reach out to a client for coverage. Once completed, you would do 2 excel v look ups . One for vendor coverage. One for cost pricing. Load the prices up. Oh wait one minute, the cost frices are not going to interface because you need to establish a fair value client cost source code. Load up the cost prices again with the correct fair value code. Hopefully you have given everything for to a reviewer in order to meet a service deliverable time. Being 58 years old and dong this for 2 months I was missing way too many service deliveries at 3 PM. The individuals were nice over there(those that would actually talk to a contract worker which out of a team of 40 maybe 10 did) But I have no idea what their expectation was of an individual that had not worked full time since July 2012 and in between then only a 3 month contract job in 2014-2015. And why send a contract employee to a a welcome to JP Morgan seminar? Nothing that was said in that 4 hour window I had access to. Even made attempts for on line training Excel, but there was no this how we do JP Morgan classroom training in the city I was working in

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Any idea of departments an timeframe ?

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Yes layoffs 2018 are coming!

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You could be there five years and they pull this c r a p cause no one knows what they’re doing and if they go they’re saving their own a r s s

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All banks

Do this

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