Emea Xva/cross Asset Solution, Risk and Pnl Middle

2 weeks ago

London, United Kingdom eFinancialCareers Full time

The EMEA Middle Office team belongs to the EMEA CIB Operations team, which covers Middle Office (Trade & Sales Support), Transaction Reporting, Settlement, and Client Onboarding.
The Middle office team works closely with Front Office (Sales & trading teams), and our partners from other support functions e.g. Settlements / Client Onboarding teams on a daily basis. The role requires making sure all activities are booked in a timely manner,performing trade enrichment where necessary, ready for good settlement.
There is a strong focus on risk reporting and PnL explanations on vanilla and complex products, with a constant and close interaction with our front Office partners.
The role also includes working closely with Finance, Compliance, Risk teams, Client Money, COO Teams and other Operations and global Middle Office teams regularly.
The Middle Office Function is a control function, and it is imperative that all team members' work in a controlled manner to manage risk and follow procedures. We are a function that is very sensitive to Operational Risk and Audit. Answering accurately to internal(from Internal Audit or other control functions) or external (from regulators) regulatory inquiries is a key part of the function
They will also work with Technology and other Middle Office teams globally on global projects and process improvements and cover other MO teams (London mostly) when required.
(Note: In addition to these functions team members may be required to carry out other duties to support the Business/Firm)
- Provide full trade support cover for all traders/sales teams in a controlled manner by following all MO procedures
- Good knowledge on Fixed income derivatives: Rates swap / CDS / FX and also FX option and Rates Swaptions
- Intra-day Risk and P&L reporting, investigation of discrepancies between reported and posted P&L.
- Trade capture of in-scope derivatives for XVA Risk and NPV, lifecycle maintenance and production of PnL and Risk impacts on daytrades
- Trade Capture of hedge trades executed by the desk to manage market risk associated with the XVA business
- Production and review of Start of Day Market Risk for Trading to risk manage from and generate PnL attribution from at End of Day
- End of Day PnL production and attribution on portfolio, result validation with Traders, and investigation of discrepancies
- Ownership of operational controls on XVA portfolio and corresponding reconciliations
- Key Partner to other control and operations functions including Market Risk Oversight, Enterprise Capital Risk Management, Finance and Technology
- Project leadership on transformational work in XVA space to meet business needs, and changing regulatory requirements
- Understanding of Market Linked Notes and SPV Repack booking process
- Act as the link between business requirements and technology solutions.
- Participation in system upgrades / testing
- Liaise with Risk and Product Control Departments to resolve any discrepancies between Middle Office and other reports produced elsewhere
- Have a high level of attention to detail to ensure all trades checked before verified on trade date.
- Ability to work with team members and business partners across the bank
- Contact teams internally or externally (ie the client) to solve in a timely manner any break or issue that may appear on a trade
- Monitoring of daily trading exception reports
- Resolution of trade queries
- Run, analyze and solve breaks of front to back reconciliations
- Work closely with Settlements/Payments functions
- Project work/Ad hoc management requests
- Enhancement of the control framework around the daily processes.
- Maintenance and enhancement of governance documents (e.g. Process flows and procedures).
- Fact finding for any issue and help escalation to Management
- Ensure all Initiatives are captured on the teams BOW and is updated.
- Team player and must show flexibility for working early morning or late shifts.

**Skills/Experience Required**:

- Previous experience of working in XVA or Exotic rates/credit as Middle Office or PCG role
- Knowledge on systems Calypso, Catalyst will help
- They must be analytical with strong verbal and written communication skills.
- Understanding of trade lifecycle across the Rates and FX, Credit (CDS) and Cash products (bonds)
- Ability to work across multiple regions.
- Must have advance Excel skills and coding skills (VBA/ Python) experience
- Confident and the ability to work under pressure of a trading floor and deliver on strict deadlines
- Good interpersonal and networking skills to help close out issues.
- Experience of change management.
- High level of attention to detail
- The ability to operate and enhance the team to work in a highly controlled manner and ensuring all processes/procedures are documented
- Proactive and the ability to take ownership and lead initiatives/projects to close
- Team Player with good communication skills and demonstrate a high level of transparency towards working as one strong team

**We Value Diversity**
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountablefor execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and complianceobligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk deci

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