Description
Structured Rated Middle Office £250-£300The Structured Rates MO 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 reconciling 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.
Role description:
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