Responsible for managing the trade-capture workflow for the US Mortgage Trading Desk, with a focus on Mortgage Index derivatives, and related hedge products. Trade Control responsibilities include, but are not limited to, performing initial review of trade bookings; working with trading and sales to resolve discrepancies and ensuring proper flow into the system of record; facilitating monthly life cycle credit events and scheduled trade compressions; Perform reconciliation of trade positions and tasks associated with end-of-day controls. In addition, the role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, the role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.
- Work in a fast-paced environment with direct communications with Trading Desk and Sales
- Monitor workflow in the primary trade capture system, as well as system of record
- Apply independent judgment and discretion when resolving trade discrepancies to ensure that the correct risk is always reflected in Front-Office Trading system and Back Office Risk Systems
- Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trade capture system, eg. Booking errors leading to fee discrepancies.
- Primary point of contact for the Front Office, Operations, and Finance on matters of significance
- Understand various idiosyncrasies and convention of Mortgage Indices in order to provide expeditious support
- Ensure internal risk positions are appropriately reflected to mitigate any risk to the firm’s capital
- Ensure initial trade bookings, trade amendments, allocations and novations occur in a timely manner to meet Real Time Reporting requirements
- Ensure trade bookings are compliant within existing regulatory frameworks such as Volcker CFTR, Swaps Push-Out, and UMR
- Responsible for global connectivity and communication with counterparts across various Line-of-Business to ensure consistency and alignment to target Control Standards within Trade Control
Required Skills: (Must have these skills to be minimally qualified)
- Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market
- Excellent Excel reporting-related skills
- Detail-oriented to operation trade flow, data entry, and data reconciliation
- Ability to liaise across multiple functional teams to resolve issues
- Ability to operate autonomously without direct supervision
- Ability to quickly analyze and make decisions in the event of a problem
- Ability to quickly grasp new industry practices and create/document new processes
- Strong organizational skills and ability to effectively prioritize multiple tasks
- 1 - 3 years of experience in the trade support and middle office space
- Knowledge of financial processing systems
- Understanding of the “Best Practices” and back-to-front product flow to manage Operational Risk
- Proactive thought leadership to identify and deliver process improvements and efficiencies
- Knowledge of industry regulatory frameworks such as Volcker Reporting and DTCC Real-Time Reporting
- Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
- Excels in working among diverse viewpoints to determine the best path forward.
- Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.
- Commitment to challenging the status quo and promoting positive change.
- Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
- Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.
Enterprise Role Overview:
Responsible for maintaining already developed Trade control processes, e.g., Trade booking, trade validation and ongoing trade maintenance and reporting. Requires product knowledge, knowledge of financial instruments accounting relevant to the area supported. Delivers support for new products and initiatives, provides analysis and KPI/MIS reporting. College degree (Bachelors or higher).
Required skills include:
expert Excel knowledge, financial products knowledge, ability to analyze, reconcile, and interpret large amounts of data, detail orientation, ability to manage multiple priorities and multi task, excellent time management and prioritization skills, with ability to meet tight deadlines, the ability and willingness to continuously learn on the job, technical fluency, with ability to learn new systems quickly, the ability to problem-solve and take ownership of process improvements, the ability to work in a team environment, the ability to adapt to and take ownership of change and excellent verbal and written communication skills with ability to communicate with various stakeholders.
Desired skills & knowledge include:
experience using Bloomberg, accounting knowledge, economics, business, mathematics, finance, accounting, or similar major. Desired experience includes Internship experience, have 2 to 3 years of experience in the Financial Services industry, experience in working with financial reports, and the ability to effectively manage difficult internal and external client situations. This job code is to be used for employees in Global Markets only.