Derivatives Operations Executive

2 months ago

London, United Kingdom Pontoon Remote Work Freelance Full time

Derivatives Operations Executive

5 Month Contract

London

Hybrid Working

Pontoon is an employment consultancy. We put expertise, energy, and enthusiasm into improving everyone's chance of being part of the workplace. We respect and appreciate people of all ethnicities, generations, religious beliefs, sexual orientations, gender identities and more. We do this by showcasing their talents, skills, and unique experience in an inclusive environment that helps them thrive.

We are happy to be recruiting for one of our high-profile Banking clients. They are currently looking for a Derivatives Operations Executive to join them for a contract which will run until the end of March 2025.

Role Purpose:

  • Plays a key role to ensure BAU and other daily team tasks are completed accurately, on time and to the expected standards in accordance with operational procedures. Escalates issues and challenges, reports routinely and updates management promptly.
  • Day to day processing of Derivatives trades, which includes confirmation and settlement of derivative products booked for all EMEA locations.
  • Ensure timely trade processing of Vanilla and Exotic FX Options, Interest Rate Swaps and Currency Swaps from Front Office trade capture systems to the respective accounting and payment system and General Ledger.

Role Responsibilities:

  • OAD Derivative Operations is a central processing hub responsible for a broad and complex suite of regulatory obligations and derivative products.
  • Provide support to Team Leader and deliver key services to front office stakeholders and outsourced locations in EMEA division.
  • Ensure derivative transactions are processed by the team in accordance with Head Office rules, regulatory obligations and local procedures.
  • Timely generation and completion of long form and ISDA trade confirmations, ensuring they are sent and countersigned by external customers.
  • Create, check and agree rate reset notices with external customers.
  • Process deals that have been cancelled and corrected by each office.
  • Check details of executed option trades.
  • Monitor modification queue in SAA, Montran and take appropriate action to ensure payments are released.
  • Input and prepare MT103's in SAA as and when necessary.
  • Monitor interface screens in TBO and take appropriate action to ensure process has been completed.
  • Monitor group email inboxes and query management ensuring all emails are managed in a timely manner.
  • Collaborates with and supports the team to meet customer needs, team objectives and ad hoc tasks within defined timeframes.

Knowledge, Skills & Experience Required:

  • Experience of derivatives settlements business to include Interest Rate Swaps, Cross currency swaps, Caps/Floors, Inflation swaps & FX Options.
  • Experience of drafting and matching derivative confirmations.
  • Understanding and knowledge of the ISDA Definitions for rates derivatives products.
  • Ability to draft bespoke language for non-standard products in line with the applicable ISDA Definitions.
  • Experience of client interaction- chasing, affirmation, negotiation and query resolution.
  • Understanding of payment formats and payment processing.
  • Good communication skills, with the ability to deal effectively at many levels.
  • Understanding of Operational Risk and Control.
  • Self motivated, energetic, flexible and collaborative.
  • Able to adapt to continually changing regulatory environment for derivatives business.
  • Able to prioritise day to day responsibilities.
  • Provide support to Team Leader for tactical process improvements
  • Being determined to continually challenge the status quo of existing processing methods whilst recognising the need to ensure control is maintained and customer experienced enhanced.
  • Able to effectively communicate.

Location:

This is a hybrid working role with a requirement to work from the clients London office 2/3 days a week.

Working hours:

Standard working hours with some flex where required.

If you feel that this is a role that would suit you then please apply today.

If you do not hear from us within 48 hours of your application, please assume that you have been unsuccessful on this occasion.

Pontoon Solutions are an equal opportunities company

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