Structured Credit Trading Assistant
The main function of the role is to provide important controls to ensure that PL generation and risk is accurately captured. The successful candidate will be liaising with Trading, Sales, Legal, Product Control and Operations departments so that the trade is correctly booked in the risk system.
The TA is the conduit for all post execution information flow to other operational departments, Life Cycle Management, Query Resolution and provides daily PL Validation. The candidate will also work with IT and management to improve systems and processes and incorporate the latest industry initiatives and best practices.
Key Responsibilities
Trade Capture to the firms Risk systems for Correlation and Exotics products such as Bespoke CSO’s, Index, Tranches, CDS and Exotics and hedging instruments.
Maintain and update Structured Derivative transactions: Substitutions, Trading accounts, Credit Events, Unwinds and buy back of CLN’s.
Calculation of structured notes rates fixing and coupons to be paid and other issuance of payment instructions.
Liaise with Product Control and risk management to explain daily PL moves.
End-of-day risk reconciliation, ensuring risk is accurate for the next business day.
Managing the End-of-day unconfirmed and unmatched report, ensuring that all trades are confirmed.
T+1 Reconciliation, ensuring that all T+1 reports are viewed and cleared.
Review daily risk control reports and check lists.
Post Trade Date maintenance of trades, and reporting of amendment PL to Product Control team and Front
Office.
Ensure Desk and Middle Office activities comply with internal policies and Regulatory authorities.
Work with Technology to improve trade capture, through STP initiatives and regulatory requirement.
Person Requirements
Candidates must have worked within a Trade Support or Trade Assistant role previously covering Credit Derivatives
A detailed understanding of OTC Credit Derivatives (e.g. CDS, CSO, Bespoke Tranche, Asset Swaps) and other Exotics products such as CLN, FTD, CPPI.
Derivatives experience required from a Trading Assistant function or Middle Office environment.
Strong communication, written, analytical, attention to details and organisational skills
Able to work under pressure, with the ability to prioritise tasks rapidly according to risk.
Strong understanding of PL and risk of Derivative instruments.
Operates in a control environment ; ensures daily risk is mitigated and looks to actively close control gaps.
Strong proficiency in advanced Excel.
Awareness of market risk conventions, and rules surrounding execution and settlement of Credit events.
Understanding of audit control processes and how they relate to the Middle Office control environment.
Able to interpret risk measures and discuss with the Trading desk.
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