Operations Specialist
Position Category: Operations
Position Title: Operations Specialist - MarkitWire Interest Rate Derivative Trade Support Group
Job Level: Associate
Location: United Kingdom - London
Education Required: Refer to Position Description
Position Description:
The role is within the MarkitWire Interest Rate Derivative Trade Support Group which currently consists of four members who are responsible for all interest rate derivatives that are confirmed via MarkitWire. The product range is extensive and ranges from both vanilla and complex interest rate products. The wider Trade Support Group, in which the MarkitWire team sits, has a mix of experience and is a fantastic area for someone to be exposed to a very steep learning curve and gives all individuals the opportunity to develop a meaningful career within Operations. Although it is not essential, it is preferable that the candidate has a good understanding of interest rate derivative products. Attention to detail is paramount along with diligence and quick escalation.
As a member of the MarkitWire Interest Rate Derivative Trade Support Group you will be working closely with the Front Office to provide the first level of control for the Interest Rate Derivative trading desks.
Products covered include all interest rate products confirmed on MarkitWire. These included interest rate swaps, cross currency swaps, swaptions, caps/ floors and inflations swaps.
You will be ensuring that all trades are booked and electronically confirmed as intended by checking the trading system verses the MarkitWire and liaising with the broker or direct with the sales force or counterpart. You will be responsible for ensuring current controls are enforced, initiating new controls and building STP as you see fit to protect our franchise.
You will be the intermediary between the Trader and other areas of the Bank. Controllers, settlements and confirmations areas will all come to you to discuss issues.
You will act as guardian for the Bank and you will monitor the integrity of the Firm's risk by ensuring the Firm is compliant with FED targets and that documentation risk is minimised.
You will be responsible for ensuring current controls are enforced, as well as liaising with IT and the Projects Group to initiate new controls and build improved infrastructure to increase both efficiency and control.
Skills Required:
- Degree or equivalent educated
- You will be responsible for offering the first line of defence for the trading desk's franchise risk and risk in ensuring that the trade bookings are correctly reflected in both front and back office systems and tie out with the counterpart.
- You will need diplomacy and accuracy in dealing with focus clients, brokers and sales people.
- You will be able to speak with confidence and knowledge to counterparts describing when necessary the MarkitWire confirmation process pertaining to vanilla and complex transactions.
- A high degree of accuracy and a willingness to learn new products is essential. This role is constantly changing and a willingness to adapt to new initiatives and put forward your own ideas is of paramount importance. An understanding of how trading on different entities can affect the Firm's balance sheet will demonstrate a depth of knowledge.
- Knowledge of derivative products and confirmation/ settlement processes is desirable but training will be given on the job.
- Daily deadlines are inflexible and the candidate should be organised to ensure the team meet all deadlines. The role requires the sharing and discussing of knowledge and information between the trading, sales, settlements and confirmations groups
- The pace of the desk demands that you complete each task quickly and accurately. You will be protecting our franchise and dealing with millions of dollars at risk. The ability to organise your time and complete each task on time will be a key factor in determining your suitability for the role.
- You will be in constant communication with the front office, clients and many departments within the bank. You should be accurate, knowledgeable and professional in all dealings with whomever you may meet.
- You will work closely with your peers and you will need to share knowledge and act as a team player to get the most out of this role.
Skills Desired:
Fast leaner who is an excellent communicator and has a high attention to detail.
Good product knowledge of interest rate derivatives is preferable.
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential.
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