Structured Equity Derivatives Middle Office
Role Description:
The Middle Office:
- Confirms the accuracy of trade bookings, which in turn ensures accuracy of risk, PL and cash flows.
- Plays central role in managing the front to back trade flow.
- Monitors key event dates, and resolves booking issues and cash breaks.
- Creates the daily flash PL and PL attribution.
- Is responsible to the desk for all aspects of Operations.
The Middle Office provides trade management and first-line support for the Exotic Index, Single Stock, Structured Volatility, Funds and Corporate trading desks. Tasks include deal review, lifecycle management, query resolution, reconciliations and the production of the T0 PL flash.
The Structured Equity Derivative business trades a full suite of complex equity derived trades (Notes, bespoke ETFs, Option strategies, Swaps, Margin Loans) as well as vanilla hedging activity (Futures, Swaps, Bonds, FX, etc).
The Middle Office works closely with the Front Office and all other support groups and stakeholders to enable the business to grow in a controlled environment.
Skills, experience, qualifications and knowledge required:
The successful candidate will be required to:
- Understand Exotic products, their structuring and booking processes, basic valuation models and trade lifecycles.
- Perform timely and accurate trade capture at the desks request throughout the trading day.
- Reconcile Front Office trade bookings in risk against term sheets, recaps and/or blotters.
- Liaise closely with the trading desk to flag operational issues / risks, from aged unaffirmed trades, to potential duplicate bookings and risk system exception monitoring.
- Understand trade lifecycle management, incorporating call events triggers, structured note issuance and complex cash flow management.
- Have strong written and spoken communication skills, with the ability to calmly articulate themselves to internal and external clients in an often pressured and demanding atmosphere.
- Work across departments and regions to resolve breaks, i.e. booking discrepancies, cash breaks, etc.
- Proactively look for ways to improve our workflows and identify and close risks in our processes.
- Multitask and prioritise appropriately (demonstrating an understanding of different risks and their respective importance to the firm).
- Have a working knowledge of the evolving regulatory environment, from our existing responsibilities, to a grasp of the future demands on our business.
- Responsible for the oversight and communication of KRI data for the desk we support, including cancel and amend monitoring and late trade analysis.
Knowledge – Required:
- Good Exotic Derivative knowledge, including bookings documentation
- Knowledge of the controls required throughout trade lifecycles
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