The Fixed Income, Currency and Commodities (FICC) & Derivative Core Operations (FDCO) team perform end to end trade control, confirmation and settlements processes across FICC businesses and provides utility OTC derivative confirmation & settlement services for non FICC businesses. Within FDCO, the teams provide multiple services such as FICC trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.
FDCO organization (formerly known as Middle Office Trade Support) is seeking a qualified individual to support the trade-control workflow for the Central Funding Desk (CFD) within Global CPM (Counterparty Portfolio Management) Business, with a focus on Structured Notes and related hedge products. The CFD desk is responsible for the issuance & risk management of the bank’s Structured Notes portfolio.
The CFD desk issues structured notes with underlying exposure across multiple asset classes – Equities, Credit, FX, Rates, and Commodities. The role of a Trade Control professional supporting this business primarily consists of: assisting the business with trade bookings of complex derivative products across multiple trade capture systems, understanding trade capture risk and underlying drivers of PnL, enhancing current support infrastructure, and performing reconciliation between front-office risk systems & back-office sub-ledgers. The role works closely with multiple business partners, including Front Office, Market Risk, Technology, Finance, & Compliance.
The desired candidate should possess an operational understanding of derivatives products. These would include Structured Notes, IR Swaps, Swaptions, FX Options, Equity Futures etc. The candidate must have excellent MS Excel skills (especially those related to reporting and data validation) and must be an excellent written and verbal communicator. The role is fast-paced and often has simultaneous competing priorities and as such, the applicant must be able to properly prioritize their time and be comfortable in a fast-paced work environment.
The role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. An associate in this role is an escalation point for the various downstream operation teams and support partners on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes. Required Skills:
(Must have these skills to be minimally qualified)
- 3+ years of experience in Middle Office / Trade Control / Trading Assistant / Fixed Income Operations.
- Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market, and time series modeling.
- 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
- Must be client focused with proven track record of excellent communications and interpersonal skills with the ability to present to an audience
- Ability to successfully navigate and connect within a matrix work environment
- Must be self-motivated and able to work independently
- Must be able to operate successfully in a fast paced environment
- Macro/VBA Knowledge
- Experience in supporting rates, FX, and credit derivative trading
- Knowledge of financial processing systems and accounting
- Understanding of the “Best Practices” and front-to-back transaction 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
- Knowledge of Operational Risk, Finance interaction, Risk & PnL support
- 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.