Description
Trade Control Analyst - Interest Rate Derivatives
12 month contract
Chester
My High profile banking client requires an accomplished Trade Control Analyst with experience of Interest rates and/or Derivative products. This will be on an initial 12 month contract based from their Chester offices.
Job Description
Perform a Trade Control function in our Business Initiatives team, supporting the Global Rates and Currencies business. Utilising an understanding of products traded, including Interest Rate Swaps, Options, FRA's, Caps, Floors, Cross Currency Swaps and FX to support the Global Rates Business in driving its operational goals for the year. This is likely to include Brexit related novation activity, Inter-Affiliate Trade Reduction, Clearing cycles and compressions, amongst other items. Responsibility for the entire trade life cycle of trades, including (but not limited to): Trade Validation, Trade Maintenance, system reconciliation, client & management reporting and break resolution.
Responsibilities
Work closely with the Trading Desk to support the Global Rates and Currencies business in a team focused on delivering on some of the business' biggest priorities across our global team.
Key team objectives:
- Brexit Related Novation Activity - migrating client trades between UK and European Entities based on client need.
- Inter Affiliate Trade Reduction - Working with Front Office to reduce the volumes of internal trades in the books and records.
- CCP Clearing Packages - Working with Front Office to reduce our bilateral risk by clearing bilateral trades to CCP's
- Ad Hoc Business requests - Process ad hoc requests from our Global Business including system migrations, Portfolio Moves and testing of systemic releases amongst other items.
- Candidate will also perform core Trade Control Responsibilities such as -
- Trade Validation - Timely and accurate management of trade capture process to ensure all trades are booked according to terms of underlying agreement in both Front Office and down-stream applications
- Provide support to assigned trading desks - Support the Trading desk across all Trade Control functions in a timely and accurate manner
- Ongoing Trade maintenance - Manage trade life cycle events & perform trade amendments to correct incorrect positions.
- Investigate and resolve breaks - Work closely with Front Office and Operation teams to resolve breaks (eg. Cash, Collateral, Valuations, Documentation etc)
- Production of daily reports - Distribute Daily reports to the Trading desk, business partners and Senior Management (requiring a high level of attention to detail)
- Resolving client issues - Working with Sales and Client Management teams to ensure that client issues are addressed and resolved.
- Trade Compression events - Manage Compression events such as Trioptima to reduce our bilateral and CCP trade counts, working with Front Office to execute successfully.
- Resolve queries - Investigate any issues raised to the team, liaising with Front Office, Back Office and/or the client as necessary.
Requirements
- Required: Strong Product knowledge on Derivative products, preferably Interest Rate products.
- Experience in industry, within a relevant role (preferably within operations in a Trade Control/Middle Office Role).
- Excellent understanding of risk and control - able to identify risks and control gaps and confident to raise issues.
- Excellent organisational skills with the ability to prioritise daily workload whilst working accurately under pressure
- Strong communication and negotiation skills and the ability to build relationships across all levels of seniority
- Proven analytical skills including data reconciliation and interpretation
- A strong numerical mind set with excellent attention to detail and accuracy
- Previous experience in dealing with internal and external clients
- Ability to rapidly learn and understand new tasks presented and quickly commit to memory in a high volume environment
- Logical approach to problem solving - taking ownership and offering practical solutions
- Ability to identify and deliver process improvements
- Competence in excel (inc formulas) and outlook
- Flexibility to work outside of core hours (including bank holiday and/or weekend work).
Preferred
- Specific SME experience in Interest Rate Products in a Trade Control/Middle Office environment.
- Advanced Excel/Database skills (inc Macros).
- Experienced knowledge of CFTC/EMIR/MIFID regulations.
N.B. This particular client requires that, if you are not a British Citizen, you must hold an EU Passport, Tier 1 Visa/HSMP, Dependency Visa, or Ancestry Visa for this particular vacancy or have Permanent Residency status in the UK - please specify in your response which of these you have.
Only suitable candidates need apply. If you have not received a response within a 48 hour period, please assume that you have been unsuccessful on this occasion.