Associate – Derivative Middle Office

3 days ago

London Area, United Kingdom Trevose Partners Full time

Profile Summary

My client, a leading global financial institution, is seeking an Associate to join their Derivative Middle Office team. The successful candidate will support a broad range of cleared and bilateral derivative products—including IR Swaps, FRAs, FX Swaps, NDFs, CDS, TRS and Convertible Bond Options—ensuring accuracy, control and end-to-end trade processing. This position sits within a highly collaborative team of five.

Key Responsibilities

  • Monitor and resolve exceptions generated through intra-day reconciliations in systems such as Murex (OSP) and Optic, ensuring complete and accurate trade flow.
  • Manage, track and escalate aged items and unresolved breaks as appropriate.
  • Complete system reconciliations, oversee break resolution, and escalate outstanding items to management.
  • Monitor affirmation platforms (e.g., TradeServ, Markitwire) to ensure accurate capture and confirmation of data.
  • Respond to Front Office queries and clearing issues in a timely manner.
  • Oversee cleared trade flow across direct and indirect CCP relationships, ensuring alignment with internal systems.
  • Support portfolio compressions via triOptima or clearing broker relationships.
  • Allocate ASCOT trades in Front Arena and ensure accurate representation in Murex.
  • Execute OTC ISDA Confirmations (incoming and drafting), meeting internal and external timelines.
  • Produce KRI and risk reporting, escalating emerging risks where necessary.
  • Contribute to the ongoing development of the Derivatives Support function and operating model.
  • Partner closely with technology teams to define enhancements, raise JIRAs, and manage change initiatives.
  • Identify and implement process improvements to simplify workflows and strengthen controls.
  • Ensure full compliance with regulatory obligations and maintain robust processes and controls.
  • Escalate issues promptly, ensuring risks are clearly communicated.

Qualifications, Skills & Experience

  • Strong SME knowledge of derivative products, including cleared/bilateral swaps, Swaptions, CDS, CDS Index Options and ASCOTs.
  • Experience supporting cleared flows via brokers or CCP memberships.
  • Deep understanding of front-to-back derivative trade flow, from capture through settlement.
  • Ability to work under pressure while maintaining high standards.
  • Strong risk awareness and commitment to robust control environments.
  • Background in an investment bank within a Derivative Middle Office role.
  • Demonstrated continuous improvement experience within a Middle Office function.

Technical Skills

  • Solid understanding of TRS, CDS, Swaps, NDFs, FRAs and Convertible Bond Options, along with associated processes and regulatory requirements.
  • Experience with systems such as Murex, ION, Markitwire and Duco.
  • Familiarity with trading venues (e.g., Bloomberg, Tradeweb).
  • Strong knowledge of cleared trade processing across CCPs such as JSCC, Eurex and LCH.
  • Full front-to-back understanding of trade capture, confirmation, settlement, compression and valuation processes.

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