Derivatives Middle office Operations Desk - HSBCJP00038176

  • Job Reference: BBBH143721
  • Date Posted: 2 September 2021
  • Recruiter: Jefferson Wells
  • Location: City of London, London
  • Salary: £220 to £247 Per Day
  • Sector: Banking & Financial Services
  • Job Type: Full Time Flex
  • Work Hours: Full Time

Job Description

Job title - Derivatives Middle office Operations - Rates Desk Support

Location - London, Canary Wharf/Remote

Rate - Up to £247 PAYE or Umbrella £315

Start date - ASAP

Contract - 12 months

Our financial services client is currently seeking two Derivatives Middle office Operations - Rates Desk Support Specialists to join their team in the London office/remote working, this contract will initially be for 12 months.

This role is within the Middle office trade support function within Derivative Operations and is located in Canary Wharf, London.

The team is primarily responsible for the trade capture and support of all Interest Rate Derivative transactions.

Functions include:

Trade capture support for Trading and Sales team,

Risk management,

Life cycle event processing,

Compressions and package processing

Query management.

The Business support may change in line with future restructuring either operationally or business driven.

This role requires pro-active engagement with internal and external stakeholders, both regionally and globally. This includes interactions with a variety of team's front to back. Strong communication skills, ability to work in a pressurised environment and treat all stakeholders with equal respect is essential.
The role also requires the individual to have an awareness of the Industry/Regulatory improvements within the Derivatives market, and how that may impact the day-to-day processes.
The ability to independently identify efficiency / STP opportunities is also a key requirement.

A strong risk focus and maintaining a robust control environment is essential.

Knowledge & Experience / Qualifications

  • Excellent Product knowledge of IRS is required
  • Front to back understanding of Trade Flow, including Trade Capture, Confirmation, Settlements, Compression and Valuations
  • Experience of trade capture into Summit and Markitwire
  • Having the ability to adapt to a constantly changing environment and the ability to problem solve
  • Excellent written and oral communication skills with a focus on attention to detail and ability to prioritise appropriately, work under pressure and unsupervised.
  • Prior and current understanding and experience of regulatory initiatives and programmes of change at an industry level.
  • Control foccused with strong awareness of Operational risk, supporting the front to back office.
  • Strong focus on root cause analysis with the aim of driving process improvement
  • Becoming the main point of contact for trade life cycle related queries from infrastructure partners such as Trading
  • Sales, Operations, Product Control and Market Risk; ensuring a good working relationship is established across all these teams
  • Working with wider front to back teams to improve break and query work flow
  • Lead process improvements - recognise inefficiencies or gaps, recommend improvements and help implement new processes
  • Advanced Excel skills and knowledge of SQL would be highly beneficial but not essential.

Impact on the Business/Function

  • Creating and leveraging strong working relationships, front to back, regionally and globally, to optimise processes and improve levels of STP, including development of Best Practices with Front Office where appropriate.
  • Drive the identification and progression of continuous improvement initiatives to improve processes, working with line management and Change Management and Technology.
  • Ability to identify risks and issues and escalate appropriately.
  • Work within the Operational capability's framework and The Bank's values.
  • Provide excellent client service both internally and externally.

If you are relevant or interested, please contact me at