Clearing Derivatives Operations Specialist

3 weeks ago

London, Greater London, United Kingdom Richard James Recruitment Specialists Ltd Full time

We are seeking a talented Commodity Cleared Derivatives Analyst to join our team at Richard James Recruitment Specialists Ltd.

As a key member of the EMEA Financial Operations team, this individual will play a crucial role in ensuring the smooth operation of clearing and settlement processes for various commodity derivatives.

Main Responsibilities:

  • Completing intra-day and EOD controls to guarantee all processes are running smoothly and all trades are accurately feeding from source to books and records system.
  • Developing and maintaining in-depth knowledge of brokerage and brokerage rate agreements.
  • Responding to ad-hoc requests from Middle Office/desks regarding positions, broker setup requests.
  • Performing Exchange/CCP & Broker Reconciliations.
  • Understanding and reporting listed options and futures expiries to the trading desks and middle office, with a keen awareness of risks around expiry processes on expiry day.
  • Reviewing KPIs daily to ensure aged items and outstanding issues are resolved in a timely manner.
  • Ensuring all risk items are prioritized and escalated where necessary.
  • Collaborating closely with multiple teams within the organisation and in multiple locations (IT, Credit, Scheduling, Trading, MO, Trade Finance).
  • Regulation - Possessing a good level of understanding within the MiFID II space to ensure correct monitoring of MiFID obligations.
  • Presenting business cases for self-driven or otherwise, initiatives and projects to senior management.
  • Performing any other tasks as directed by your line manager.
  • Analysing and developing team procedures in line with market requirements.
  • Setting up of new entities on exchanges and with clearing brokers.
  • Transferring positions across clearing brokers, clearing accounts and exchanges, represented both internally as well as on exchange/clearing broker.

Required Experience:

  • The ideal candidate will have 2+ years' experience in either clearing / listed derivatives operations or general commodities operations.
  • Experience of the Clearing/ Listed Derivatives world and daily interactions with clearing participants.
  • Strong derivatives product knowledge, including knowledge of the trade lifecycle of Cleared/Futures trades.
  • Good knowledge of various exchanges such as CME, EEX, LME or ICE.
  • Prior exposure to, and understanding of, CCP and Clearing broker margin call.
  • Good system skills (Openlink/ENDUR, Amphora, ICE Credit Management, ICE Clearing Admin, TLM, Excel).
  • Previous exposure to Oil derivatives, European Power & Gas and Metals.
  • Able to work independently without direct supervision but also happy in working as a team on projects.
  • Ideal but not a requirement, experience of the commodities physical market would be advantageous.

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