Fixed Income Derivatives Middle Office Associate

Location: London, United Kingdom
Rate: Competitive
Job Type: Contract, Full time
 

Job description:

The Fixed Income Derivatives Middle Office supports the Credit, Rates, Mortgage and Structured desks. Full Middle Office support role for Fixed Income Derivatives desks

Key responsibilities:

  • Provide a high standard of support and control for the Fixed Income Derivatives trading desks (including rates, credit, mortgages and structured desks) for a range of products including, IRS (Fixed/Float, Basis, Inflation, OIS, Caps, Floors, CMS, FRAs), CDS (Single Name and Itraxx) and FX trades (XCCY Swaps, FX Swaps, Forwards and Options).
  • Resolve any issues related to MarkitWire, Ice-Link, SEF or DTCC for bilateral or cleared trades in a timely manner and work closely with clearing brokers to resolve any positional breaks
  • Ensure all issues or potential issues are highlighted to management in a timely basis.  Report all potential compliance issues to management
  • Regulatory – Become fully versed in all regulatory requirements pertaining to Fixed Income Derivatives covering, but not limited to, Dodd-Frank, EMIR and mifid Transaction Reporting.  Awareness of CASS rules is also important.
  • Process re-engineering – continue to review and question the validity of processes and functions within the team to ascertain whether processes should be automated in current form, or re-engineered.  Question whether old processes are still required
  • Build relationships with desks and clients.  In particular, become the “go to” person for all desk queries
  • Product Knowledge – continue to increase understanding of Fixed Income Derivatives products, from operational processes through to risk and P&L attributes.  Additionally, a solid understanding of Calypso and ISDA/OTC Confirmation documentation is a must.
  • Produce high-quality, value-added reporting to management

  • The employee will make decisions, with oversight of daily issues and will escalate to department manager according to size and cost of issue

  • Work with MO management to develop future strategy for trading support impacting both MO and other business stakeholders

  • Drive the direction of MIS and control within the Fixed Income Derivatives and work closely with colleagues in Operations Control and the US Derivatives Middle Office
  • Produce and send out coupon fixings as our role as calculation agent
  • Production of daily P&L flash
  • Communication (both written and verbal) with both internal departments and counterparties, including settlement amounts
  • Investigation of processes and resolution of issues with maximum cost efficiency
  • Establish good working relationship with trading desks and various internal stakeholders including product control, settlements, collateral management, legal and compliance

Daily tasks include:

  • Daily reconciliations of trading activity from front to back, resolving trade and position breaks
  • Oversee and direct processing of daily trade flow and trade query resolution
  • FCA, Dodd-Frank and EMIR Transaction Reporting
  • Preparation of monthly client valuations
  • Produce and send out coupon fixings as our role as calculation agent
  • Production of daily P&L flash
  • Communication (both written and verbal) with both internal departments and counterparties, including settlement amounts
  • Investigation of processes and resolution of issues with maximum cost efficiency
  • Establish good working relationship with trading desks and various internal stakeholders including product control, settlements, collateral management, legal and compliance
  • The employee will make decisions, with oversight of daily issues and will escalate to department manager according to size and cost of issue
  • Work with MO management to develop future strategy for trading support impacting both MO and other business stakeholders
  • Drive the direction of MIS and control within the Fixed Income Derivatives and work closely with colleagues in Operations Control and the US Derivatives Middle Office
  • Produce high-quality, value-added reporting to management

Required Skills & Qualifications:

  • The following skills and experience are required for this role:
  • Solid knowledge of Fixed Income Derivative Flow and Structured Products essential
  • Motivated and accountable self-starter who is results-driven
  • Team player who responds well to a high-pressure environment
  • Excellent verbal and written communication
  • Risk and Control focused
  • Ability to quickly grasp issues and resolve in a timely manner
  • Extensive experience in Fixed Income Derivatives a must

To apply please email your CV to the following consultant:  

Cameron Howard
cameron.howard@trevosepartner.com
020 3763 3912