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Job Details
Derivatives Operations - SME (Contract)
Location: City of London Country: UK Rate: £400 - £600 per day + Umbrella/PAYE (Inside IR35)
Derivatives Operations - SME
A Leading Financial Services Business are looking to hire an experienced Derivatives Operations - SME
- * The role is an initial 12 month contract (scope to roll on)
- * It's a hybrid opportunity - (2 or 3 days in the office) - London based
- * The role is inside IR35 - paying between £400 - £600 per day via Umbrella or PAYE
Profile Summary
To provide Middle Office support to the Derivative business, ensuring trade accuracy and completeness in front-to-back systems. Cleared & bi-lateral products supported include IR Swaps, FRAs, FX Swaps, NDFs, CDS, TRS and Convertible Bond Options. Working within a team of 5 people.
Duties and Responsibilities
- Monitoring & resolving exceptions generated in Murex (OSP) & Optic intra-day reconciliation ensuring trade flow completeness/accuracy.
- Timely management of these exceptions in trade flow, with appropriate escalation for aged items.
- Responsible for completion of system reconciliations, break resolution and escalation of any unresolved items.
- Monitoring both the TradeServ and Markitwire affirmation platforms to ensure data is captured and confirmed accurately.
- Timely response to Front Office enquires and clearing issues.
- Responsible for cleared trade flow managing clearing status through direct/in-direct CCP relationships ensuring trade/positions are aligned to internal systems.
- Support the business with Compressions, reducing portfolios managing processing through tri-optima or via clearing broker relationships.
- Allocation of ASCOT trades in Front Arena and associated tasks. Ensuring trades are accurately represented in Murex.
- Execution of OTC ISDA Confirmation both incoming and drafting process adhering to internal and external driven targets.
- KRI and Risk Reporting, ensuring our metrics capture Key Risk Indicators and escalate emerging risks appropriately.
- Assist with the evolution of the Derivatives Support function, evaluate the go-forward operating model and enable new business initiatives.
- Work closely with technology, establish required system enhancements, drive prioritisation and plan/manage change for the function, raising required JIRAs and following changes through to delivery.
- Contribute towards simplifying any complex, inefficient processes and show demonstrable improvement.
- Ensure the regulatory responsibilities are understood with processes and controls established to ensure compliance.
Qualifications, Skills and Experience
Role Experience:
- The role requires SME knowledge of Derivative products, including cleared & bilateral swaps, Swaptions, CDS, CDS Index Options & ASCOTs.
- Experience in supporting cleared flows via brokers or direct memberships of CCPs.
- Strong understanding of front-to-back Derivative flows, from trade booking to life cycle management and settlement.
- Able to be flexible and work to tight deadlines but maintain the very highest standards.
- Identify risks, ensuring robust control environment and high operating standards.
- Equivalent experience at an Investment Bank, working in a Derivative Middle Office capacity.
- Experience in delivering continuous improvement in a Middle Office function, improving control environment and efficiency.
Technical Experience:
- Knowledge of Derivative products, including TRS, CDS, Swaps, NDF, FRAs & Convertible Bond Options and associated processes, controls & regulation.
- Exposure to Murex Middle/Back Office, ION, Markitwire, Duco.
- Worked with Trading Venues, such as Bloomberg, Tradeweb.
- Good understanding of cleared trades processing, including JSCC, Eurex and LCH.
Front to back understanding of Derivative Trade Flow, including Trade Capture, Confirmation, Settlements, Compression and Valuations.
Posted Date: 13 May 2024
Reference: JS-BBBH105079
Employment Business: Harvey Nash IT Recruitment UK
Contact: Thomas Ullyott