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EUROPEAN CONFIRMATIONS TEAM ANALYST, GLOBAL DERIVATIVES OPS
Our client is one of the world’s largest Money Managers, providing structured investment strategies such as indexing, risk-controlled active products and hedge funds to investors Worldwide. For over 35 years, it has been at the forefront of developing innovative investment ideas, applying science and technology to the investment process and currently employs over 3,000 people Globally and managing $1.8 trillion in assets.
The volume and breadth of derivatives traded across the Company are increasing at an exponential rate across the range of products and fund strategies offered to clients including both active and hedge fund products. The expanding coverage and complexity globally has necessitated the continued growth and development of the derivatives functions in order to effectively manage, support and control the business expansion.
Global Derivatives Operations
The Global Derivative Operations team plays a key role in the continued success of this business including supporting the continued business growth, managing the control environment and reducing risk, increasing efficiencies and strengthening relationships with our internal and external clients.
The Global team is responsible for the Middle Office and Operations functions supporting the Company’s business across all products and funds which trade a variety of derivatives. These cover all asset classes including credit, rates, inflation, and equity derivatives. Products traded include IRS, Swaptions, CDS, Index, Structured Credit, Inflation Swaps, Repo, TRS (on a variety of underlyings), FX variance and Equity Swaps across a range of G10 and emerging market currencies.
The team are looking for high-quality candidate(s) to join the team and help deliver on key operational goals including medium and longer-term change and strategic agenda and supporting the ambitious business plans in this area. You will be working as part of a growing Global team, and liaising closely with business product and trading groups, other operations and technology groups, legal, as well as external counterparts, custodians and prime brokers. This is an excellent opportunity to learn about the investment management and hedge fund business as well as derivative products and lifecycle management at the largest money-manager in the world.
Roles and Responsibilities
The Confirmations Analyst role is based in the UK. The role serves as a key point of contact for trade affirmation contracts, derivatives trading agreements, and post-trade execution dealer queries and dispute-resolution. In addition is covers management of counterparty relationships and serves as a liaison between those parties and portfolio management, hedge fund support, legal groups within both London and the USA.
The key roles and responsibilities to be performed by this individual are:
• Responsible for one or more counterparty relationships
• Chase counterparties for same day affirmation responses. Highlight queries and issues and resolve in a timely manner. Understanding the need for escalation where an affirmation response has not been received within a suitable timeframe
• Execution of OTC Derivative contracts and related trading documentation within narrowly prescribed timeframes
• Timely post-trade dispute-resolution with respect to disparities between the Company and counterparties. Liaising with FO, Counterparty FO, Legal, other OTC Derivative function areas etc to find resolution
• Maintaining BAU workflows and identifying priority areas for completion
• Tracking documentation and Affirmation progress
• Use of weekly Management Information Statistics to determine high priority actions, issues and escalation items
• Use of an electronic confirmations platform Swapswire
• Develop and maintain knowledge of derivative products, market practices, and regulations, in addition to the Company’s operation processes
• Consistent review of processes, models and procedures to suggest and implement tighter controls, automation and promote optimal operational efficiencies
• Highlight automation needs and implement process improvement
Experience and Skills required / to be developed
• OTC Derivatives Operations experience, with familiarity of ISDA master agreements and transaction confirmations preferred
• Knowledge of OTC Derivatives industry market practices and regulation preferred
• Working knowledge of OTC Derivative products, e.g. credit, rates, equity
• Ability to communicate effectively with traders and counterparties, using persuasiveness and knowledge to resolve issues
• Knowledge of Swapswire, DTCC & Calypso preferred
• Identifying high risk issues and escalating appropriately
• Excellent written and verbal communication skills
• Strong analytical skills with ability to synthesize information and summarize issues
• Willingness to learn and desire to develop an in-depth knowledge of derivatives, market practices and regulations, as well as shaping the Company’s approach to derivatives products processes
• Structured and organised approach with a strong attention to detail and diligent work ethic
• Takes initiative, is ambitious and looks to develop self, willingness to participate, positive attitude, flexible approach and excellent teamwork
• Understands needs and sensitivities of internal and external clients and proactively ensures these are met
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