Rates & Credit Clearing SME (AVP)
My client a leading investment bank is currently offering a new exciting opportunity for a high calibre individual to join their Transaction Management Group (TMG). This part of the business is a dedicated function established within Markets to manage the transaction integrity in terms of efficiency and control.
The TMG Middle Office team provides a full and dedicated support to the business, as a part of trade execution. The nature of this support requires strong multi-faceted individuals who are able to understand the lifecycles of the products traded, the systems and reporting mechanisms required to enable full control of the business. Our clients are a mixture of banks, corporate, retail and hedge funds. Service lines within TMG Middle Office include:
• Delta Rates, Credit FX/MM
• NLT, Non-Core Ops Cross Product Optimisation
• Investor Products Equity Derivatives
• Structured Products
• Risk Control Solutions
The Role
The team needs a strong individual with a solid understanding of the Credit and Rates Derivatives products supported and the front-to-back lifecycle events that occur on the products.
Specifically the individual will take a lead focus on ensuring we keep up with Clearing related industry initiatives including Mandatory Clearing (DF/EMIR), new CCP offerings, and new product offerings from existing CCPs.
Actively contribute to the industry change agenda and ensure we provide feedback in Working Group forums, working closely with Change Management to ensure Technology deliver any necessary infrastructure improvements.
The individual will be required to establish close working relationships at all levels with Front Office, Support Staff (e.g. Trading, Sales, CEM, Finance, Market Risk, Legal IT), external counterparty and clients. As such they will need to show strong communication skills and a desire to provide first class customer service.
In addition, it is vital that the individual is focussed and committed to maintaining a strong control environment.
Essential Experience:
•Specific business knowledge technical knowledge required:
•Good understanding of the Credit and Rates clearing and compression processes including all relevant derivatives and hedging products that are booked into the bank’s core Risk Management System. The products covered are FRA, IRS, IRS-B, OIS, X-CCY, CAP, FLR, SO-P/R and CDS.
•Understanding of risk and PL for Credit and Rates.
•Have a good knowledge of the front to back Operations process (including the key elements of confirmations and settlements as well as funding) and facilitate issue resolution across teams.
•Understand the key elements of other infrastructure groups i.e. Finance, Market risk, CEM, Operational risk, Legal and Compliance and recognise the impact of the actions of the MO on these areas.
•Understanding of CCP margin management, counterparty exposure management and capital requirements.
•Must be fluent with MarkitWire, and being able to understand the importance and impact of MarkitWire eligible trades to the In House Systems and to our customers.
•Clear and concise communication.
•Knowledge of Excel and Access Databases not essential but a plus.
Candidate Profile:
•Demonstrate ability to ask probing questions in order to gather relevant information to resolve issues / ensure robust controls are maintained.
•Have the ability to think tactically and strategically in regards to how industry initiatives and developments will affect the bank.
•Be prepared to listen to the thoughts of others, but where appropriate, defend a view of a situation and use clear communication and logic in the light of differing opinions to find a resolution.
•To be aware of the importance of escalation to management and Front Office for issues and problems that will occur throughout the day.
•Actively look for opportunities to design operational improvements, consult, collaborate and implement with the wider organisation.
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