Description
Overview
Financial Markets Middle Office was set up in 2016 to deliver first class trade support, business enablement and accurate/timely trade representation to meet obligations to clients, counterparties and regulators. We are product and process subject matter experts aligned to the Global Financial Markets business providing follow the Sun support, a continuous improvement mindset and industry connectivity.
Key Middle Office principles:
- Business alignment/Product expertise: Product specialists who understand business priorities and strategy, define optimal solutions leveraging industry leading facilities and influence behaviour through countenance
- Connect: Build bridges across the bank to simplify current operating model, create efficiencies and identify new opportunities
- Leadership and Market presence: Own your domain and influence product evolution, define internal standards and shape future utilities through selective industry positioning
Risk Manager: Define the standard to effectively control the T-0 business day; understand regulations, key trends, and external incidents; voice opinions and concerns; protect the bank
Role Responsibilities:
- European Union Benchmark Regulation (EBR) was introduced due to concerns about the accuracy and integrity of indices used as benchmarks in financial markets, following the LIBOR fixing incidents. The regulation implements and builds upon the global standards set out in the IOSCO Principles for Financial Benchmarks, which were published in July 2013. The regulations have impacts to those who provide, contribute and reference in scope benchmarks.
- Support for EBR Project in terms of requirement gathering, testing, co-ordination with Front Office and downstream teams, implementation and monitoring and resolution of any associated issues.
- Support for Rates and FX Trading and Sales Desks - including support for FX, FXO, MM products and Rates Derivatives.
- Own query remediation, trade life-cycling and other day-to-day processing, ensuring timely escalation, in order to minimise risk
- Understand the FX trade life cycle from front to back and be the subject matter expert and go-to person for the core systems processing
- Drive continuous improvement and innovate:
- Partner with Technology to deliver transformation
- Work with FO to identify booking model improvements and drive efficiency
- Face of Operations to Sales and Trading Desks locally - primary point of contact:
- Insulate FM from post execution processing/queries, represent Operations functions
- Build team profile with the Front Office
- Stakeholder engagement, 2-way flow of information - Trusted Advisor
- New business enablement and solutions, partner to deliver strategic FM initiatives
- Constantly seek opportunities to improve global consistency, work closely with the Hubs (GBS) and other regions to close gaps and standardise processes.
- Communicate with clients to solve immediate day to day issues with transactions as well as understand their longer terms needs to shape business decisions in Operations
- Build strong relationship with Hub teams (TCG) to facilitate efficient communications and speedy resolutions of issues:
- Identify and close knowledge gaps within the Hubs through hands on training
- Daily KPI monitoring vs SLA
- Engage with industry bodies and vendors to identify opportunities to enhances processes and systems and drive efficiency
- Be the subject matter expert for MIS, cost-per-trade, touch points per trade - drive their evolution and identify areas to proactively add value through improved data
- Be aware of, and strive to reduce, vendor costs
- Operations representation for external/internal and regulator scheduled audits:
- Ensure Audit points are addressed within time lines
- Achieve regulatory compliance and future proof the Middle Office model through a strong understanding of current rules and anticipation of upcoming regulations
- Adherence to Ops Risk Framework standards of implementation and process management:
- Continuous review of procedures and booking model
Regulatory & Business Conduct
- Display exemplary conduct and live by the Group's Values and Code of Conduct.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Required Experience:
- Subject matter expert in Rates & FX products in terms of product characteristics, risk, market data and P&L:
- FX, IRS, CCS, Basis Swaps, Structured Rates Derivatives and Futures
- Additionally, knowledge of MM products would be beneficial
- Minimum 3 years Financial Markets experience ideally from a top tier bank
- Understanding of front to back process and systems flows
Required Skills:
- Analytical and process improvement mindset
- Strong inter-personal skills:
- Confident communicator able to adapt style to Front Office and offshore colleagues
- Ability to influence demanding individuals
- Impact and gravitas to drive meetings with senior Ops and FO management
- Demonstrate strong teamwork and values mindset
- Thrive on working in fast paced environment while maintaining attention to detail
- Fast learner with the ability to think out of the box and provide solutions
- Knowledge of Murex 2.11 and 3.1. FX Connect and Sabre preferable
- Proficient in Excel (pivots, lookups and basic VBA an advantage)