Derivatives Analyst

Derivatives Analyst

Location: London (Hybrid)

Salary: Competitive

Permanent

Derivatives Analyst | Operations | London, UK (Hybrid)

Team Overview

Sitting within the wider Operations business area, the Derivatives Operations team works closely with Portfolio Managers, providing post-trade support by ensuring executed trades are successfully captured, affirmed, collateralised, and reported.

Role Overview

The team is seeking a Derivatives Analyst to provide support to the Rates & Derivatives dealing desk managing BAU post-trade activities as well as change requests to support new business requirements. This involves oversight and monitoring of the outsourced middle- and back-office provider to ensure expected service levels are adhered to.

Key Responsibilities

• Oversight of all daily outsourced provider routines to ensure the service levels are as expected, e.g., daily c/p recs, clearing reports, collateral movement & cash balance reports, new trades, trade & settlement matching, contract affirmations.
• Work with and build on existing relationships with Custodians, outsourced providers and third-party investment service providers.
• Providing the Investment Operations team with daily sign-off of swaps positions and valuation reports oversight.
• Checking trade blotters match trading activity and front-office reconciliation reports.
• Reviewing monthly MI and attending Quarterly Service Reviews.
• Working with the Investment team and external trading counterparties in relation to swap novations and planning for intraday collateral exchanges for new business.
• Perform daily liquidity management processes, ensuring accurate and timely information is available for the Portfolio Managers.
• Look to review and improve all existing Derivative Operations procedures and processes where there is scope for improvement to efficiency, and opportunities to add value or reduce risk.

Experience, skills, and competencies required

• Knowledge of fixed income and derivative products used for hedging purposes, particularly gilts, corporate bonds, interest rate, inflation, cross-currency, total return and asset swaps, along with an understanding of the trade lifecycle (collateral, interest settlements, confirmations).
• An appreciation of legal, regulatory and industry requirements e.g., EMIR, SFTR, Solvency II.
• Strong operational experience with at least 3-4 years’ worth of relevant experience working in the finance industry.
• Have a sound understanding of financial asset groups and general operational processes (i.e., Fund Accounting, Settlements and general processes performed by a Custodian).
• Strong Excel, including VBA skills.
• Experience working on change initiatives alongside BAU processes.
• Practical understanding of derivatives valuation, including investigation of valuation discrepancies.