Derivatives Middle office Operations – Rates Desk Support
- London, Greater London (GBR)
- £467 - £599 Per Day
- 12 Months
- Start date: ASAP
- Ref: HSBCJP00039222
- interest rate derivative
- front office
- process improvement
- operations
- risk management
- back office
- stp
- settlements
Derivatives Middle office Operations - Rates Desk Support
Location - London, Canary Wharf/Remote
Rate - £467/Day PAYE or £599/Day Umbrella
Start date - ASAP
Contract - 12 months
This role is within the Middle office trade support function within Derivative Operations and is located in Canary Wharf, London. 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 teams' 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.
- Experience in booking Interest rate Derivatives is essential, along with using Marketwire and Summit.
- Background from Tier 1/Tier 2 Bank also 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
- Experience of trade capture into Summit and Markitwire
- 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 focussed 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 lifecycle 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 workflow
- Lead process improvements - recognize inefficiencies or gaps, recommend improvements and help implement new processes.
- Advanced Excel skills and knowledge of SQL would be highly beneficial but not essential.
Impact on the Business/Function
- Creating and leveraging strong working relationships, front to back, regionally and globally, to optimize 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.
