Equity Derivative Trade Support, Associate (REF: 00054799) recruitment
1. Business
Role of Unit:
RBS Equities offers derivative products, securities finance and equity linked products, and structuring in core equities. There are approximately 1,250 Front Office members of staff in 24 different countries.
Products / Services:
- Equity Origination: Corporate Broking (RBS Hoare Govett), Equity Capital Markets, Equity-Linked ECM and Strategic Equity Solutions
- Cash Equities: Investment Research, Primary and Secondary Distribution to institutional and hedge fund clients, and Trading (including - - Delta 1 advanced executions services)
- Equity Derivatives: A wide variety of leading and innovative products Retail Distribution, corporate and institutional Sales and Trading
- Equity Financing Collateral Trading: Stock Lending, Financing Collateral Trading and Structured Equity Trading
Aims / Objectives:
To be a Top 5 Equities Derivatives house with a strong Core Equities platform and a leading Primary business to the Bank's chosen client base.
Specifically the Trading and Equity Derivatives business offers a wide variety of products to suit different investors’ market views and risk appetite. This includes approximately 30,000 products in 25 countries on multiple underlyings, in a variety of different wrappers, to cater for investors needs. The business consists of the following desks:
- Institutional Corporate Volatility: variance swaps, OTC and listed futures options, dividend swaps, dispersion, tailor-made and innovative flow product solutions, bespoke corporate derivative solutions, fundamental volatility based research
- Retail Volatility: leveraged instruments (warrants) and fully funded investment products (capital guaranteed notes and certificates) distributed through Stock Exchange Listing; internal network; and 3rd party brokers and private banks
- Certificates: public issuance and distribution of cross-asset class certificates and leveraged delta one access products
- Exotics: non-vanilla flow and highly bespoke structured products tailored to match clients’ market views and risk/reward profiles
- Dynamic Strategies: Capital protected structured product, that gives investors a chance at positive returns regardless of market condition and attempt to maximise the return relative to the risk taken – this can range from a long-only exposure with risk-management overlay to long and short high-frequency trading strategies
- Equity Linked: primary and secondary market-making function covering convertible bonds, exchangeable convertibles, mandatories and private structures such as pre-IPO convertible bonds.
- Fund Derivatives: customized equity CPPI and fund linked derivative products and solutions offered both in securitised and OTC form to retail, corporate and institutional clients
- Equity Delta1 Financing: is a one-stop-shop for a product suite with true global reach, encompassing portfolio and electronic execution, synthetic prime brokerage, market access, securities lending and corporate financing solutions. EDF provides some of the strongest custom solutions in the market place with a broad synthetic reach that includes single stock, basket, index and certificate products across all the major and emerging markets
2. Operations Team
GBM Operations operates in Europe, Asia Pacific and the Americas. We have a presence in more than 40 countries and over 3,000 members of staff globally.
The Global Equity Operations Team is approximately 400 in number. Operations support all Origination, Secondary Cash Equity, Equity Financing, and Securitised and OTC Equity Derivative business and are organised in the following functions:
- Transaction Management
- Equity Derivative Operations
- Security Operations
- Asset Serving Operations
- Reconciliations and Control
- Change Management
The teams are split across our London, HK, NY and Tokyo business centres with support from Operating Centres in UK (Newcastle-Under-Lyme Manchester), Singapore and Mumbai.
3. Role
Hong Kong Transaction Management team total approximately 25 people made up of desk aligned teams. The responsibilities of the team include Trading and Sales support for the different Equity Businesses as well as acting as an independent control function. The Equity Derivative Trade Support Group is responsible for Trade Affirmation, Position Keeping, Lifecycle Processing and Controls. These are the first line checks which ensure that trading are managing risk on Equity Derivative products consistent with the terms being confirmed to our counterparties.
The role provides a dedicated support to the Equity Derivative business, this support requires strong multi-faceted individuals who are able to understand the lifecycles of the products traded, the systems and the risk and controls required to protect the business.
The individual will be required to establish close working relationships, at all levels, with both Front Office and Support Staff (e.g. Credit, Finance, Market Risk, Legal IT) allowing for an integrated and proactive approach to the business requirements. Developing excellent technical knowledge and communication skills will be essential to success in the role along with the ability to identify process and change requirements
4. Responsibilities
Technical and Banking Knowledge
- Lifecycle management of Exotic and vanilla Equity Derivative trades
- An understanding of all equity products including derivatives and hedging products.
- Understand the Equity trading, sales, settlements and clearing
- Understanding of the front to back Operations process to include major elements of confirmations and settlements.
Control Function
- Complete EOD process ensuring all reconciliations and reports in the area are completed / signed off. (e.g. internal deals, exercise reports, corporate actions etc. are investigated and any discrepancies resolved).
- Validation and affirmation of all OTC trades.
- Responsible for the integrity of trade bookings due to amendments and trade maintenance.
- Monitor MIS / reconciliation reports to assist performance measurement, control and ensure appropriate timely escalation.
Trader Support and Customer Service
- Close liaison with the trading floor to ensure the timely and efficient resolution of trader queries. Seen as valued advisor and technical expert.
- Liaise with other Operation functions and other infrastructure groups to support a ‘one team approach’.
- Nurture a ‘can-do’ attitude to enhance external customer relationships
- Appreciation of different support requirements for Traders, Salespersons, and Structuring teams.
- Resolve all issues / queries in a timely and customer orientated fashion
Communication
- Clear and concise communication with all support teams through effective mediums.
- Ability to gather information from a broad range of sources and disseminate to the team.
- Provide support to Operations in overseas offices as required
Projects and improvements
- Responsible in assisting for developing new systems and promoting process solutions among the team where gaps are identified.
- New systems and regular releases require the individual to manage and be responsible for testing and the timely release of new functionality
- May be required to assist in project through its life cycle; ensuring functions work together to meet deadlines.
5. Personal Attributes
- Strong interpersonal and team skills
- Excellent written and oral communication skills in English
- Able to adapt to a rapidly changing working environment
- Confident and self assured
- Self motivated and quick learner
- Strong organisational skills
- Ability to work under pressure and to tight deadlines
- Ability to multi task
- Must be attentive to detail, proactive and flexible
In addition to financial benefits, we also offer a range of global career development opportunities, learning and development programmes and a flexible benefit scheme which can be tailored to suit your individual needs. All of which creates a truly flexible package to fit your changing needs and lifestyle.