Job description Posted 30 November 2021

EM Rates Middle Office Control

£300/day PAYE - £384/day Umbrella


12 Months

Our financial services client is currently seeking a Emerging Markets MO Control to join their team due to additional workload within the department. This role is within the Middle Office Control team within Emerging Markets Middle. The team is responsible for the operational support of EM Rates transactions.
The purpose of this role is to provide support to the EM Rates business for accurate trade capture & trade validation of trades into a variety of systems. The incumbent also provides Operations ownership of the entire structure(s), which often span multiple products and asset classes. Functions include trade capture, intersystem reconciliations, exception queue monitoring and direct Operational support & trade oversight to trading and sales teams.
This role requires pro-active engagement with internal and external, where applicable, stakeholders, both regionally and globally, strong communication skills, plus the ability to independently identify efficiency / STP opportunities. It also requires the individual to have an awareness of the Industry/Regulatory improvements within Emerging markets, and how that may impact the day-to-day processes. The role requires strong partnership with the business. EM Rates has recently realigned into the GFX organisational structure and the Middle Office Control team will look to work closely to merge with the EM Rates Desk support role to form a more traditional Middle office support structure in line with other FX teams within this Line of business, so an exciting opportunity lies ahead for forward thinking individuals that have a good team work ethic.

Key Responsibilities:

·        Understanding the booking requirements of EM Rates products that are traded

·        Understanding multiple systems and regulatory initiatives and their impact on HSBC front to back.

·        Conducting regular spot checks and getting involved in the fixing process.

·        Identify and assess risks and issues to the Business and escalate appropriately

·        Improve efficiency by performing regular reviews of existing processes

·        Identify change opportunities and make time to push initiatives through to fruition 

·        The role is based in London within MSS Global Markets Reporting in to the Head of FX Cash Middle Office

·        The team support the EM Rates business to provide Operation support for accurate trade support functions.

·        The role will require strong connectivity with the global front office, middle office and operations teams so excellent communication and influencing skills are key

·        Strong OTC Derivatives product background is required, with a sense of urgency and ability to work unsupervised and under pressure to strict deadlines.

·        Demonstrate awareness of the Operational Risk associated with the role and act in a manner that takes account of operational risk considerations of the Bank. Communicate and propose implementation of risk remediation items that you feel are not addressed within the current Operational process.

·        Maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

·        Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.


Key Requirements:


·        Good product knowledge for EM IRD derivatives business

·        Strong background in, Rates and Emerging Market products (Confirmation, Middle Office, settlements etc…)

·        Experience in a reconciliation role

·        Ability to pick up new processes quickly

·        Lateral thinking to identify improvements in processes

·        Clear communication skills

·        Ability to effectively prioritise

·        Outgoing and engaging individual

·        Strong focus on root cause analysis with the aim of driving process improvement

·        Good partnership skills

·        Enthusiastic outlook with a willingness to be part of a forward thinking team


If you think you are up for the task and feel you meet the above criteria or interested to hear more information, please contact me on