MW Recruitment Limited
Senior Middle Office - Interest Rate Derivatives
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Trade Support – International Rates Trading (City-based Banking Institution)
The successful candidate will be accountable for the execution of trades and the development and maintenance of working relationships with Capital Markets Trading & Sales, Product Operations.
Overview
- Accountable for the execution of assigned on-desk trade support activities in a timely, accurate, and efficient manner.
- Book, validate, and amend trades, affirm trades and allocate trades in Markitwire, Calypso, and TOMs.
- Review trade discrepancies and investigations.
- Perform trade and position reconciliations, investigate PnL and booking issues, and brokerage checks. Handle any other ad hoc requests from the trading desk.
- Support the resolution of exceptions, escalating to management as required.
- Support the introduction of new products, processes, and technologies aligned with Business Partner initiatives, participating in analysis, testing, and implementation activities.
- Participate in various stakeholder forums (e.g., Project Delivery, Technology, Regulatory, Risk) in support of Rates Trade Support activities.
- Identify potential risk situations within Rates Trade Support, escalating to management as required.
- Identify opportunities to improve the operational effectiveness of assigned day-to-day Rates Trade Support activities.
- Deliver exceptional customer service through responsive, accurate, consistent, knowledgeable, and available support.
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Experience Required
- 5+ years experience supporting a rates or structured interest rates trading desk.
- University degree in a related discipline.
- Strong knowledge of a range of financial products, including:
- Interest rate swaps
- Inflation swaps
- Cross-currency swaps
- Bonds
- Futures
- Options
- FRAs (Forward Rate Agreements), etc.
- Structured rates products.
- Expert knowledge of Markitwire and Calypso, with extensive experience in building non-standard trades, including:
- Modelling trades in Calypso and Markitwire for pricing.
- Knowledge of OIS compounding rate calculations to assist with rate discrepancy investigations.
- Ability to calculate swap notional based on risk and tenor.
- Familiarity with trade pricing, including:
- Asset swaps
- Butterflies
- Spreads.
- Experience in trade compressions and processing compressions, including risk checks.
- Experience with SwapAgent.
- Good understanding of PnL and risk drivers, with experience in:
- EOD flash/trader blotter checks.
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