Flow Rates Middle Office Analyst recruitment
About Us
RBS is a leading global investment bank with 6 global trading hubs - 4 of which are located in Asia Pacific (Tokyo, Hong Kong, Singapore and Sydney). Project Unicorn is a global programme which will enable the transfer of assets and liabilities from RBS NV to RBS plc. Unicorn is significantly complex in APAC with business spanning approximately 150 legal entities and 9 countries. APAC Unicorn Programme requires strong leadership to deliver the transfer of branch assets and subsidiaries in Indonesia and Thailand in 2012.
Description
Individuals are required to establish close working relationships across Asia Pacific and London with colleagues in other Operations teams, as well as with Front Office staff. Excellent technical knowledge and communication skills are therefore key to success in the role along with the ability to innovate and implement change
The nature of this support requires strong multi-faceted individuals who are able to understand the lifecycles of the products traded and the systems and reporting mechanisms required enabling full control and accurate and appropriate information to be supplied. This role is to support the Australia G11 Delta Rates Business. Business As Usual Middle Office Support is what this role requires.
- Interest Rate derivatives – IRS, Cross currency swap, interest rate future, FRAs, Bond Options, Swaptions, cap/floor, FX, OIS and structured derivatives
- Monitoring and compiling/running position reports
- Running Reconciliations of trades.
- Monitor risk and risk movements via position reports
- Preparing Flash PL for traders
- Liaison with Operations regarding amends.
- Liaison with Product Control regarding valuations (PL, decomp. and explanation) and processes they run for the desk.
- Trade validations and corrections
- Investigation of daily PL discrepancies and reconciliation issues.
- Investigating Cancel and amendments activity
- Ensure all activity generated for relevant product line by the Front Office is processed effectively.
- Provide operational support for the Debt Markets Trading Desks.
- Development and maintenance of professional relationships across Front Office and Infrastructure
- Provide support to other members of Middle Office when needed
- Cross train on other roles being performed by Middle Office to ensure that cover is available across the team
- Support any key Project Deliverables for Flow Rates Middle Office eg. Delta Trader Rollouts, Trade Novations/Integration workflow, Sales Workflow, PnL Toolkit, Tri-optima and any other Clearing Initiatives like LCH and CME rollout
- Understand and performs validation of all relevant derivatives and hedging products.
- Need to establish a good understanding of the Delta Rates Business and each process is interlinked with each other
- Understanding the cash flows of the business, understanding OCP and how the cash are being funded on a daily basis.
- Understand System PL process and basic PL decomposition for products and systems used.
- Understanding of the front to back Operations process to include the key elements of confirmations and settlements.
- Understand the key elements of other infrastructure groups i.e. Finance, Market risk, Credit risk, Operational risk, Legal, Tax and Compliance.
- Ensure appreciation of different support requirements for Traders, Salespersons, and Structuring teams.
- Close liaison with the trading floor to ensure the timely and efficient resolution of trader queries. Seen as valued advisor and technical expert.
- Work closely with other Operation functions and other infrastructure groups to support a ‘one team approach’. Seen as a centre of excellence and pivotal communicator.
- Support and enhance external customer relationships
- Clear and concise communication with all support teams to ensure the timely and efficient dissemination of information and the resolution of queries arising.
- Ability to ask probing questions to gather information.
- Where appropriate, ability to maintain own position and use logic in the light of differing views.
- Provide support to Operations in overseas offices as required
- Support and aid the development of frequent MIS reporting capabilities. This is to assist performance measurement, cost effectiveness and ensure appropriate timely escalation.
- Ensure timely validation and affirmation of all trades in the business
- Ensure all reconciliations and reports in the area are complete and signed off on a timely basis e.g. internal deals, exercise reports, swapsclear, Finesse and expiry reports.
- Assist in Trade Novations, buyouts, fee bookings with NPV checks and rebooking where required.
- Monitoring of Markitwire matching status for trades and exception handling
- Responsible for the integrity of all curve data, underlying assets, trade booking, trade maintenance and appropriate reconciliations.
- Reconciliation of system PL to flash PL on a T0 basis
- Completion of EOD process including completeness and reconciliation checks.
- Maintenance and development of the control environment to minimise losses by eradicating errors and avoiding reputational risk.
- Observe trading patterns and behaviour to the support business and to help identify/escalate potential fraudulent or unusual trading activity.
- Contributor to the documentation of all new products or structures relating to the area (including NPAPs)
Essential:
- Strong Operations or Finance experience in Vanilla Interest Rate Derivatives
- Self motivated with good interpersonal skills
- Able to identify and resolve issues with minimum supervision
- Creative and reliable
- Able to work under pressure and meet deadlines
- Team Player
- PC literate and preferably proficient in Excel, Microsoft Word and MS Access •
- An understanding of the front to back Operations process e.g. cash flows, confirmations, finance.
Desirable:
- Product Scope to include : IRS, X-CCY Swap, OIS, FRAs, Swaptions, Range Accruals, Call/Put, Caps/Floors, Bond Options, Amortizing Swaps IRS.
- Preferably skilled in Derivatives Processing Systems (for example GDS), GFX, Ecoweb
- Good understanding of Hedging Tools covering FX, NDFs, Options
- An understanding of P/L decomposition
We offer an excellent total compensation package, learning and development opportunities and a flexible benefit programme designed to help you manage and balance your own work-life priorities. Interested candidates please click on "Apply Online" to submit your application.