Derivative Trade Support Supervisor, Assistant Vice

2 weeks ago

London, United Kingdom State Street Full time

Who we are looking for

Why this role is important to us

The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS’ tools help our clients make better investment choices and act on growth opportunities.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for

As Derivative Trade Support Supervisor, Assistant Vice President you will
- Supervise all aspects of the OTC Derivative trade processing function, ensuring that all key controls are completed and any issues are appropriately escalated.
- Mitigate State Street exposure risk through active management of the accurate trade booking and confirmation of all OTC Derivative asset classes
- Management and monitoring of KRI’s/KPI’s on a day to day basis.
- Work in conjunction and strengthen relationship with Investments, Valuations and Pricing teams to identify root causes of trade booking issues and queries and look to make changes where appropriate.
- Ensure all cash movements are booked/authorised by the team in Quasar, ensuring cash is released in time to meet settlement deadlines. Escalating any aged breaks to brokers/custodians and working towards a resolution.
- Management of cash settlement fails by communicating with counterparts to achieve settlement in a timely manner and escalating where appropriate.
- Regularly review and ensure any changes/improvement to processes are recorded in the team procedures.
- Proactively identify processes/opportunities within the team that can benefit from cross-regional coverage. Demonstrate analytical, problem solving and business process re-engineering capability by ensuring that implementation is managed in an optimal fashion in conjunction with offshore locations.
- Contribute to developing the cross-regional relationship between State Street offices.
- Challenge existing processes and look to make improvements to deliver efficiency savings and strengthen the control framework.
- Contribute to the departments long term strategic initiatives and undertake testing when required
- Contribute to new business initiatives and fund launches, ensuring the DTS team are adequately prepared for go-live.
- Ensure the team is adequately resourced and coverage maintained at all times
- Carry out regular 121’s, team meetings and performance reviews to ensure information is cascaded throughout the team and any performance issues are addressed.
- Foster a work environment that is conducive to the retention of a skilled and effective workforce
- Establish strong relationships and work in conjunction with Investment Operations, Custodians, Brokers and Counterparts.

What we value

These skills will help you succeed in this role
- Strong understanding of:

- Key OTC derivative lifecycle processes e.g. trade booking/ confirmation/settlements/reconciliation
- OTC Derivative Rates & Credit products
- Markitwire/DTCC Electronic confirmation platforms
- OTC Clearing processes
- Previous experience of supervisory responsibilities
- Ability to work to strict deadlines
- Proactive approach to work with a focus on improving processes and key controls
- Good written and verbal communication skills
- Team player who is flexible in their approach to work

Education & Preferred Qualifications
- 2:1 Degree or equivalent.
- Previous use of Lombard Oberon/LineData Beauchamp/TLM/Quasar/Swift Alliance
- Understanding of industry initiatives
- Understanding of Regulatory reporting requirements EMIR/MiFid

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

State Street is an equal opportunity and affirmative action employer.

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