Operations Transaction Processing Manager Associate

Job Description

Derivative Operations provides operational support across the CIB covering eight key product areas including FX, OTC Derivatives, Collateral Principal, 3rd Party Derivatives, Cleared Derivatives, Agency Collateral, Billing and CASS with ~1,900 employees. Services provided to our Businesses include: Transaction Processing, Confirmation, Settlement and Clearing, Collateral Management, Client Service, Invoicing and CASS Support Typical daily activity includes settling in excess of $217B via FX trading, leading a Markets OTC portfolio of 2.5M trades, servicing >200 3rd party clients, performing 10,000 margin calls, processing 470k cleared and intermediated trades and producing >9,000 invoicesThird Party Derivatives support four main OTC derivatives services: NAV Support instruction capture and processing client provided valuations / cash flows; reconcile to the fund manager Independent Valuations instruction capture, generate in-house/ source TPV valuations and cash flows; reconcile to the fund manager/ counterparties; standard reporting Middle Office same service as Independent Valuations plus confirmation/ settlement management Asset Verification As a utility to T&F, produce Independent Asset Verification of OTC/FFX & CFD tradesJob DescriptionCounterparty Reconciliation service is offered to clients including asset managers, pension funds and other institutional investors that are trading OTC derivatives as a component of their investment strategies. This service is also extended to hedge funds that are trading on OTC & ETD derivativesCounterparty reconciliation acts as secondary control check to the positions booked by Trade Capture & are responsible for ensuring the client s books and records captured within 3PDP risk management system i.e. DerivClear remain synchronized with counterparty data received in TriOptima & investigate various types of reconciliation breaks/exception.This will also include o Follow up with different brokers/vendor/client for timely resolution of reconciliation breaks/exception o Interaction with the client on weekly/fortnightly basis to discuss outstanding itemsSummary of ResponsibilitiesKey components of the role will be: Perform reconciliation between Broker / Counterparty vs Client to ensure the client books are in line with respective brokers Detailed investigation of the breaks Liaise with external clients and counterparties for breaks resolution Attend Client calls in presence of onshore team to discuss the status of the breaks resolution & any other client request / issues Liaise with internal team for breaks resolution Provide MIS reporting on break status Provide weekly KPI information to management Ensure team meet designated deadlines in line with internal SLAs Proactive & transparent communication to all stakeholders relating to delivery Provide comprehensive error reporting when such instances occur, and evidence action plan to ensure any identified gaps are closed Undertake root cause analysis of regular breaks Escalate issues to designated parties to agreed timescales Identify process improvements to contribute to best practiceSkills and Qualifications Previous experience of reconciliation Sound knowledge of basic accounting (ie. debits/ credits) Excellent communication, interaction and influencing skills Strong PC skills, particularly Excel An understanding of derivatives and fund accounting processes is a distinct advantage Knowledge of custody and settlement is an advantage A proactive approach to problem solving, taking ownership of issues and having the determination to follow things through Self motivated, innovative, methodical and analytical Good prioritization and time management Flexible approach to hours and task allocation Good knowledge of risk and controls,

Keyskills :
root cause analysishedge fundsmis reportingmiddle officepension fundsrisk managementfund accountingoperational support