Exotic Rates Derivatives PnL Trade Validation - VP
other jobs eFinancial Careers
Added before 1 hours
- England,London,City of London
- full-time
- Competitive salary
Job Description:
Within Product Control, Derivatives Trade Validation teams ensure an independent control of operations and are responsible to ensure the correct representation of products and trades between the trade capture in systems and reference documentation or Controls
The team is responsible for the monitoring of transactions flows from FO to Post Trade systems and the validation of trade representation from Primary Trade Capture through all life Cycle events.
It ensures that derivatives transactions registered in the books under CIB ITO’s mandate match the commitment taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or the contractual agreements. The main covered processes for these transactions include booking, validation, transaction event related follow-up validation through a secure framework.
Job purpose
This role is within Exotic Rates Derivatives Trade Validation in Product Control, reporting to the Global Head of Macro and Credit Derivatives Trade Validation based in London. It will be integral to the role to work closely with the Sales & Trading teams, Back Offices, Other Middle Offices, DRIVE and project teams globally.
Perimeter mandate:
• Booking validation of Exotic Rates Derivatives trades at inception and during their lifecycle.
• Amendments responsibility as per the Amend & Cancel policy
• Implementation of transversal controls complying with new Regulatory constraints
• Implementation of transversal controls on booking for derivatives and process improvements.
• Definition and implementation of remediation plan following potential incidents
Key responsibilities
Performance Management
• Ensure that progress against objectives for all reporting staff is reviewed
• Coordinate with operational managers the training requirements for individuals and teams and develop training frameworks adapted to Trade Validation teams in partnership with Learning & Development. Train and nurture new joiners to the team(s) by setting clear training programs.
• Contribute to the development of individuals within Exotic Rates Derivatives Trade Validation teams, through coaching, mentoring and internal mobility
Controls & Oversight
* Ensure the robustness of the control framework to ensure the appropriate management of operational risks.
* Ensure OPC / Risk-ORC reporting is effected thoughtfully and comprehensively
* Regularly follow up on any audit finding and implement corrective action as necessary
• Oversight of global production activities
o Regional and Global KPI/KRI analysis and risk identification in coordination with locations, business & other potential stakeholders. Challenge situation by identifying, designing and deploying missing KPI/KRI
o Assess and track incidents having impacts on the overall process and define / monitor related action plans.
o Responsible to identify gaps between client needs versus existing Ops set-up & processes and define any required remediation.
o Functional escalation contact for queries related to global Exotic Rates Derivatives perimeter
o Leadership of SMEs globally on functional topics
• Identifying and implementing process improvements
o Review initiatives related to process reengineering and automation of existing processes
o Review standard vs non-standard process, challenge non-standard processes & design relevant control framework
o Review Business requirements for IT developments
o Centralize & prioritize OPS IT requirements on platforms used by the teams
o Review the delivery of efficiencies within the global Exotic Rates Derivatives perimeter
o Review the working procedures globally in conjunction with offshore teams and SMEs
o Identify and reduce the operational risks by proposing pragmatic solutions to enhance F2B processes
o Contribute to the training of SMEs locally and globally. Knowledge transfer of new and existing activities to the offshore team
o Identify enhancements to key processes and controls.
o Design a plan to prioritize and implement identified enhancements.
• Point of Contact for internal/external stakeholders
o Manage communication channels with managers
o Contribute and represent Ops on new business Activities
o Contribute to the review of the Target Operating Model between Regions, Hubs and Territories taking into account efficiency, capacity management and resilience
o Contribute on transversal projects coordinated by Projects teams (Drive, P&C, IT...) esp. around IT architecture (system migrations)
o Manage ’medium’ sized Operations projects and interventions to improve the Operations service provision to the business and/ or acts as a key resource in large-scale projects
• Efficiency & Transformation
o Contribute with senior management to the definition and implementation of the transformation strategy for Trade Validation teams
o Work with various Trade Validation teams across the globe to identify potential for harmonisation and realization of the Banks objectives
o Ensure timely and effective delivery of projects and initiatives for Exotic Rates Derivatives Trade Validation teams
Requirements
* Professional qualification required with expert technical knowledge and experience in systems and business domain on the Exotic Rates perimeter F2B chain
* Significant experience in projects: Migration & Transformation
* Broad experience working in control functions within an investment bank
* High degree of knowledge in product and process issues affecting the department
* Strong focus on accuracy and attention to detailEffective time management and ability to prioritise workload and escalate issues to management.
* Good working knowledge of company-wide policies, procedures, regulations and legislation
* Experienced at managing internal and external relationships at all levels (including senior), and capable at working with them to understand requirements and define appropriate solutions.
* Strong people management skills and an ability to work with individuals to set individual objectives and manage performance to ensure their delivery.
* Excellent analytical skills with the ability to translate technical concepts and provide specialist guidance and advice to others and have the ability and willingness to get into the detail to find solutions
The team is responsible for the monitoring of transactions flows from FO to Post Trade systems and the validation of trade representation from Primary Trade Capture through all life Cycle events.
It ensures that derivatives transactions registered in the books under CIB ITO’s mandate match the commitment taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or the contractual agreements. The main covered processes for these transactions include booking, validation, transaction event related follow-up validation through a secure framework.
Job purpose
This role is within Exotic Rates Derivatives Trade Validation in Product Control, reporting to the Global Head of Macro and Credit Derivatives Trade Validation based in London. It will be integral to the role to work closely with the Sales & Trading teams, Back Offices, Other Middle Offices, DRIVE and project teams globally.
Perimeter mandate:
• Booking validation of Exotic Rates Derivatives trades at inception and during their lifecycle.
• Amendments responsibility as per the Amend & Cancel policy
• Implementation of transversal controls complying with new Regulatory constraints
• Implementation of transversal controls on booking for derivatives and process improvements.
• Definition and implementation of remediation plan following potential incidents
Key responsibilities
Performance Management
• Ensure that progress against objectives for all reporting staff is reviewed
• Coordinate with operational managers the training requirements for individuals and teams and develop training frameworks adapted to Trade Validation teams in partnership with Learning & Development. Train and nurture new joiners to the team(s) by setting clear training programs.
• Contribute to the development of individuals within Exotic Rates Derivatives Trade Validation teams, through coaching, mentoring and internal mobility
Controls & Oversight
* Ensure the robustness of the control framework to ensure the appropriate management of operational risks.
* Ensure OPC / Risk-ORC reporting is effected thoughtfully and comprehensively
* Regularly follow up on any audit finding and implement corrective action as necessary
• Oversight of global production activities
o Regional and Global KPI/KRI analysis and risk identification in coordination with locations, business & other potential stakeholders. Challenge situation by identifying, designing and deploying missing KPI/KRI
o Assess and track incidents having impacts on the overall process and define / monitor related action plans.
o Responsible to identify gaps between client needs versus existing Ops set-up & processes and define any required remediation.
o Functional escalation contact for queries related to global Exotic Rates Derivatives perimeter
o Leadership of SMEs globally on functional topics
• Identifying and implementing process improvements
o Review initiatives related to process reengineering and automation of existing processes
o Review standard vs non-standard process, challenge non-standard processes & design relevant control framework
o Review Business requirements for IT developments
o Centralize & prioritize OPS IT requirements on platforms used by the teams
o Review the delivery of efficiencies within the global Exotic Rates Derivatives perimeter
o Review the working procedures globally in conjunction with offshore teams and SMEs
o Identify and reduce the operational risks by proposing pragmatic solutions to enhance F2B processes
o Contribute to the training of SMEs locally and globally. Knowledge transfer of new and existing activities to the offshore team
o Identify enhancements to key processes and controls.
o Design a plan to prioritize and implement identified enhancements.
• Point of Contact for internal/external stakeholders
o Manage communication channels with managers
o Contribute and represent Ops on new business Activities
o Contribute to the review of the Target Operating Model between Regions, Hubs and Territories taking into account efficiency, capacity management and resilience
o Contribute on transversal projects coordinated by Projects teams (Drive, P&C, IT...) esp. around IT architecture (system migrations)
o Manage ’medium’ sized Operations projects and interventions to improve the Operations service provision to the business and/ or acts as a key resource in large-scale projects
• Efficiency & Transformation
o Contribute with senior management to the definition and implementation of the transformation strategy for Trade Validation teams
o Work with various Trade Validation teams across the globe to identify potential for harmonisation and realization of the Banks objectives
o Ensure timely and effective delivery of projects and initiatives for Exotic Rates Derivatives Trade Validation teams
Requirements
* Professional qualification required with expert technical knowledge and experience in systems and business domain on the Exotic Rates perimeter F2B chain
* Significant experience in projects: Migration & Transformation
* Broad experience working in control functions within an investment bank
* High degree of knowledge in product and process issues affecting the department
* Strong focus on accuracy and attention to detailEffective time management and ability to prioritise workload and escalate issues to management.
* Good working knowledge of company-wide policies, procedures, regulations and legislation
* Experienced at managing internal and external relationships at all levels (including senior), and capable at working with them to understand requirements and define appropriate solutions.
* Strong people management skills and an ability to work with individuals to set individual objectives and manage performance to ensure their delivery.
* Excellent analytical skills with the ability to translate technical concepts and provide specialist guidance and advice to others and have the ability and willingness to get into the detail to find solutions
Job number 1837257
metapel
Company Details:
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