FX Middle Office

Job Description
Job title: FX Middle Office (Mat Cover)
Job Type: Temporary (PAYE)
Contract Length: 15 Months
Department: Finance
Location: London
Company Overview
Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit

Department overview:
The FX Middle Office team is part of the wider Global Middle Office team within Finance. The team work directly with the FX trading desks and are responsible for the control and support of the business. Reviewing and reconcilling all trading activity to ensure that trades are booked accurately and reported in accordance with internal and regulatory timelines. The team is central to all activity relating to the trading desks that it supports and therefore interacts regularly with a wide network of internal departments including, trading, structuring and sales, all other Ops teams, Product Control, MVG, Quants and Risk Management.

Role description:
The team provides the trade management and first-line support for the FX trading, sales and structuring desks. Tasks include deal review, lifecycle management, query resolution, reconciliations and the production of the T0 Flash P&L.

The FX business trades a full suite of FX products and strategies, from vanilla through the more complex products (Forward volatility agreements, Dual Digitals, Average Rates, TARF, Structured Notes and Range Accruals) and associated hedging activity (futures, swaps, FX Spot. FX FWD, etc).

The Middle Office works closely with the Front Office and all other support functions to enable the business to grow in a controlled environment.

The Middle Office:

• Confirms the accuracy of trade bookings, which in turn ensures accuracy of risk and P&L
• Plays central role in managing the front to back trade flow
• Manages the full lifecycle of trades
• Creates the daily flash P&L and P&L attribution
• Resolves booking issues and cash breaks
• Responsible for all trade reconciliation and deal review
• Manage trade lifecycle incorporating call events & triggers, structured note issuance and complex cash flow management
• Work with management to maintain and develop a range of relationships across relevant trading businesses and corporate functions
• Work closely with all the support functions (documentation, settlements, valuations, collateral management, etc.) to provide full operational support to the Front Office
• Proactively work to improve processes and systems and close control gaps.
• Work across departments and regions to co-ordinate and deliver process and system enhancements
• Responsible for managing the production of T0 P&L Flash, including P&L attribution (new business, edits, Greeks) and provide commentary
• Involvement in producing all relevant reports and business controls

Skills, Experience, Qualifications And Knowledge Required

• Proactive in investigating and resolving issues
• Proactive and enthusiastic in managing and developing their own career
• Ability to work individually and as a team in delivering full range of Business Support Functions
• Experience in forming part of a wider team and helping to deliver strategic goals
• Track record in proactively working both in a team and independently to achieve results
• An understanding of what a Middle Office role with in Investment Bank will entail
• Strong control mind set and good understanding of Operational risk could entail
• Ability to manage own time and responsibilities
• Able to motivate and support team members while driving own career progression
• Confident in challenging existing practices
• Strong Excel skills
• Basic knowledge of vanilla FX products

Nomura competencies
Explore Insights & Vision

• Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions

• Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People

• Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability

• Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion

• Respect DEI, foster a culture of psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

Right to Work
The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the UK (who require a Tier 2 Skilled Worker visa) we can only employ them if we can provide evidence that this is a genuine vacancy for a qualified role.

Diversity & Inclusion
Nomura is an equal opportunity employer. We value diversity and are committed to ensuring we best reflect the diversity of the communities we serve creating an inclusive environment for all our employees. We welcome all applications and do not discriminate on the basis of age, disability, gender identity and gender expression, pregnancy and maternity, marriage and civil partnership, race, religion or belief, sex or sexual orientation.

If you require any assistance or reasonable adjustments due to a disability or long-term health condition, please do not hesitate to contact us.

Nomura is an Equal Opportunity Employer