Derivatives Middle office Operations – Rates Desk Support
- London, Greater London (GBR)
- £247 - £315 Per Day
- 12 Months
- Start date: ASAP
- 2 positions available
- Ref: HSBCJP00038176
- interest rate derivative
- front office
- operations
- stp
- back office
- settlements
- process improvements
- valuations
Job description
Posted 03 September 2021
Derivatives Middle office Operations – Rates Desk Support
Location – London/Remote
Rate – Up to £247 PAYE or Umbrella £315
Start date – ASAP
Contract – 12 months (Potential for contract extension)
The team is primarily responsible for the trade capture and support of all Interest Rate Derivative transactions.
Functions include:
- Trade capture support for Trading and Sales team
- Risk management
- Life cycle event processing
- Compressions and package processing
- Query management
- The Business support may change in line with future restructuring either operationally or business driven.
- This role requires pro-active engagement with internal and external stakeholders, both regionally and globally. This includes interactions with a variety of team's front to back.
- Strong communication skills, ability to work in a pressurised environment and treat all stakeholders with equal respect is essential.
- The role also requires the individual to have an awareness of the Industry/Regulatory improvements within the Derivatives market, and how that may impact the day-to-day processes.
- The ability to independently identify efficiency / STP opportunities is also a key requirement.
- A strong risk focus and maintaining a robust control environment is essential.
Knowledge & Experience / Qualifications
- Excellent Product knowledge of IRS is required
- Front to back understanding of Trade Flow, including Trade Capture, Confirmation, Settlements, Compression and Valuations
- Having the ability to adapt to a constantly changing environment and the ability to problem solve
- Excellent written and oral communication skills with a focus on attention to detail and ability to prioritise appropriately, work under pressure and unsupervised.
- Prior and current understanding and experience of regulatory initiatives and programmes of change at an industry level.
- Control foccused with strong awareness of Operational risk, supporting the front to back office.
- Strong focus on root cause analysis with the aim of driving process improvement
- Becoming the main point of contact for trade life cycle related queries from infrastructure partners such as Trading, Sales, Operations, Product Control and Market Risk; ensuring a good working relationship is established across all these teams
- Working with wider front to back teams to improve break and query work flow
- Lead process improvements - recognise inefficiencies or gaps, recommend improvements and help implement new processes
- Advanced Excel skills and knowledge of SQL would be highly beneficial but not essential.
- Experience of trade capture in Markitwire, SUMIT experience and or Vendor Compression from a trade support or trade analyst role
Impact on the Business/Function
- Creating and leveraging strong working relationships, front to back, regionally and globally, to optimise processes and improve levels of STP, including development of Best Practices with Front Office where appropriate.
- Drive the identification and progression of continuous improvement initiatives to improve processes, working with line management and Change Management and Technology.
- Ability to identify risks and issues and escalate appropriately.
- Work within the Operational capability’s framework and The Bank’s values.
- Provide excellent client service both internally and externally.
