Trade Support Lead – Commodities Market (Middle Office / FO Exposure) - LevelUp
7 days ago
London
Overall Purpose: • This role will provide Front Office level support for Commodities Markets division for a Corporate & Investment Banking organisation based in the City of London., • Adherence to the organisations internal policies and regulatory requirements framing the business activity., • Provide support to Commodities Markets Traders in securing the booking, positions and inherent risks of their books., • Be the back-up cover in relation to supporting all range of commodity underlying within the Trade Support group., • The scope can be extended to specific situations where applicable, including other business lines or geographical locations. Main Responsibilities: • Provide hand-on leadership in the day to day running flow of production; strive for excellence in the operational processes., • Promote a strong and reactive performance culture within the Trade Support production chain., • Develop strong relationships with the Front Office desks., • Ensure the best quality of service is delivered to the Trade Support clients, i.e. Front Office Traders, Sales whilst ensuring that internal frameworks and policies are adhered to., • Communicate efficiently and adequately to transversal departments and downstream chain., • Support new business line requirements and business initiatives; apply problem solving skills and agile contribution to the development of new solutions for daily production., • Participate and propose reinforcement of ad hoc controls and reconciliations that should be in place across products, with a strong focus in mitigating the operational risk factor. Ensure a good level of knowledge of the complete lifecycle of trades., • Communicate as well as coordinate with appropriate teams across the lifecycle stakeholders from FO to Product Control to BO, • Analyse, challenge, report and escalate appropriately potential issues. Mitigate operational risks., • Understanding and capacity to analyse transactions with associated hedging and risk representations Daily Production tasks, not restricted to & subject to evolve: • Ensures all trades within scope are in the system for correct p&I and risks on trade date., • First level of control of manually booked trades at inception (economic details, booking specificities, technicalities of system requirements), • Whilst Traders remain accountable for proper representation in the systems, assist FO in booking of trades when required following the roles & responsibilities matrix and embedded 4 eye checks through dedicated queues., • First point of entry and ownership of the analysis securing legitimacy for amendments/cancellations requests in relation to the Primary Economical Terms of the transactions. Challenge, measure the impacts, report, and action the amendments under Trader’s approvals., • Initiate workflow of approvals with other departments (e.g. Market risk & Quants) in relation to amendments not pertaining to primary economical terms (e.g. in relation to models & risks). On approval proceed to action amendments, measure impacts and report to traders., • Monitoring of product lifecycle events impacting the positions internally & externally when facing the Market & OTC clients (e.g. Future expiries, conditional payoffs, EOM deliverables)., • Post trade life cycle generations of events within scope (Option expiries monitoring, manual payoffs calculation & bookings), • Setup Markup/XVA controls with FO to ensure p&l accuracy., • Setup high level EOM mark to market controls ensuring client statements accuracy., • Setup cash balances monitoring of IM/VM consumption vs funding with FO, • Setup with FO basis risk control of unsecured vs secured discounting curves positions for closer monitoring & rebalancing/ with possible internal hedging., • Ad-hoc reporting e.g. Hit/Miss / CC reports., • Answer and liaise to punctual requests from transversal departments (e.g. Internal Audit, Compliance Control, Anti-Fraud, other GMO departments) Required Skills & Qualifications: • Good communication skills with Traders/Sales/IT/Management and team members., • High level of commitment, reactivity, reliability on support related issues., • Excellent autonomy with the systems, processes and decision taking frameworks., • Capacity to challenge Traders requests whilst maintain professional report., • Capacity to troubleshoot front office related issues and escalate situations of risk., • Commodities (Swaps Fixed/Float. Float/FLoat, Gas Formulas, Options, Futures, Physical, Warrants), • Fixed Income (IR, FX, MM), • Strong first level of financial approach: identification of trades with their associated hedge and risks, • Knowledge of trade life cycle for listed and OTC trades at inception and downstream levels, as well as impacts for Marple in terms of Market risks and official P&L publication., • Understanding of Front Office systems: SOPHIS / MUREX / SUMMIT and system Gateways interactions., • Advanced knowledge of Excel