Description
Our client is committed to making a real difference to financial services in South Africa and other emerging markets. We have global reach on the ground in 19 countries outside Africa with distribution capabilities in the world's leading financial centres - New York, London and Hong Kong. We provide commercial and investment banking services to large corporates, financial institutions and international counterparties, focused on emerging markets across the world with particular capabilities in debt capital markets and commodities.
Division Summary
The aim of the Confirmations team is to provide a first class professional service to our internal and external clients ensuring the creation, tracking and matching of confirmations is of the highest quality and complies with industry standards. Additionally, we continuously strive to maintain robust and scalable solutions to support increased volumes from the Front Office whilst delivering efficiencies.
Prime purpose of this role
The Confirmations team is responsible for the timely and accurate dispatch, affirmation and execution of all OTC Derivative and Securities trade confirmations in accordance with the Bank's Confirmation policy. Through existing STP and manual workflow processes, the role is part of a team of 6 people with exposure to all OTC Derivative asset classes - Rates, Credit, Equity, FX and Commodities. S/he incumbent must demonstrate high levels of attention to detail, be results-focused and be capable of delivering in a high-pressured environment. The role will require a self-motivated individual who will bring energy and enthusiasm to the function and be capable of quickly developing a strong partnership with colleagues and peers alike.
Main Responsibilities
Processing/generation of outgoing confirmations through existing STP and manual workflow processes, whilst ensuring compliance with ISDA Definitions and EMTA guidelines.
Initial affirmation of all OTC transactions.
Chasing for the receipt of outstanding inbound confirmations/documentation.
Review/check and approve all incoming trade documentation.
Ensure that the Group Inbox and Right Fax queues are managed daily to ensure that all emails are responded to in a timely manner and inbound faxes matched appropriately.
Ensure all appropriate risk reports are created and actioned accordingly on a daily basis.
Pro-active and timely escalation and resolution of trade disputes/discrepancies through the necessary Trading, Operations and Legal functional areas.
Risk Management. Ensure that the functional key risk indicators (KRIs) are kept within agreed tolerances in line with the Confirmations policy. Escalate, chase and report outstanding documentation as required.
Ensure that the team procedures are kept up to date - review and update where necessary on a quarterly basis.
Assist and cover for other members of the team where necessary - cross training, role rotation, holiday cover etc.
As required, participate in end user project work through ongoing tactical and strategic change initiatives.
Build and maintain good relationships with key stakeholders across Operations, Front Office, Legal, Risk, Compliance and IT.
Keeping abreast of industry initiatives and cascading this information to team members and management as required.
General administrative duties as required
Experience/Qualifications Required
Previous experience working within a Confirmations function
A good understanding of OTC Derivative products and industry best practices and standards, including ISDA definitions.
An understanding of Fixed Income and Equities is desirable but not essential.
A working knowledge of the DTCC confirmations matching platform for Credit Derivatives.
Good working knowledge of the Thunderhead confirmations platform would be advantageous.
Qualifications
A relevant degree would be advantageous, although not a pre-requisite if the candidate has the appropriate level of experience to meet the above requirements.
Competencies include
- Business Management
- Results Orientation
- Business expertise and Development
- Enabling change
- Specialist skills
- Risk Management
- Working Collaboratively