Structured Rates Middle Office

London  ‐ Onsite
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Keywords

Description

The Structured Rates MO team is part of the wider Structured Products team within GMBS. The team work directly with the Exotic Rates and Vanilla Options trading desks and are responsible for the control and support of the business. Reviewing and reconcilling all trading activity to ensure that trades are booked accurately and reported in accordance with internal and regulatory timelines.  The team is central to all activity relating to the trading desks that it supports and therefore interacts regularly with a wide network of internal departments including, trading, structuring and sales, all other Ops teams, Product Control, MVG, Quants and Risk Management.

Role description:

This role sits within the Structured Rates Middle Office which is part of EMEA Structured Products team within GMBS.  This Middle Office provides the trade management and first-line support for Exotic Rates trading and structuring desks. Tasks include deal review, life cycle management, query resolution, reconciliations and the production of the T0 Flash P&L.

The Structured Rates business trades a full suite of complex Interest Rate trades and strategies (range accruals, steepeners, snowballs etc) and associated hedging activity (futures, swaps, swaptions,  etc).

The Middle Office works closely with the Front Office and all other support functions to enable the business to grow in a controlled environment. 

The Middle Office,

  • confirms the accuracy of trade bookings, which in turn ensures accuracy of risk and P&L
  • plays central role in managing the front to back trade flow
  • manages the full life cycle of trades
  • creates the daily Flash P&L and P&L attribution
  • resolves booking issues and cash breaks
  • is responsible to the desk for all aspects of Operations

Key objectives critical to success:

  • The successful candidate will be required to understand Exotic products, booking process, basic valuation models and downstream interaction with confirmation and settlement systems
  • Reconcile Front Office trade booking (Totoro) against the term sheet and/or blotter
  • Manage trade life cycle incorporating call events & triggers, structured note issuance and complex cashflow management
  • Work closely with all the support functions (documentation, settlements, valuations, collateral management, etc) to provide full operational support to the Front Office
  • Proactively look for ways to improve processes and systems and close control gaps.
  • Work across departments and regions to co-ordinate and deliver  process  and system enhancements
  • Produce T0 P&L Flash, including P&L attribution (new business, edits, Greeks) and provide commentary
  • Create and review daily trading activity reports

Skills, experience, qualifications and knowledge required:

Skills & Experience - Required:

  • Proactive in investigating and resolving issues
  • Proactive in looking for ways to improve processes and controls
  • Control mindset and good understanding of Operational risks
  • Ability to manage own time and responsibilities
  • Strong Excel skills

Skills & Experience - Desired:

  • Advanced Excel (VBA/macro)
  • Project management skills

Knowledge - Required:

  • Good Exotic Derivative knowledge, preferably Rates, including bookings & documentation
  • Knowledge of the controls required throughout trade life cycle

Knowledge - Desired:

  • Strong Derivative knowledge - any asset class
Start date
ASAP
From
Resource Solutions - Nomura
Published at
18.06.2014
Project ID:
727787
Contract type
Freelance
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