Specialist- Derivatives

JOB PURPOSE:

To ensure that all Derivatives related transactions executed by the Global Markets department are successfully matched validated confirmed and settled within the agreed timeframes in the appropriate systems. To ensure that all life cycle events are captured booked and instructed accurately.  To monitor all breaks derived from the reconciliation report to resolve them and to escalate where necessary.

Products handled by Derivatives team include:

        IRS / Structured IRS

        Asset Swaps

        Cross Currency Swaps

        FX Options

        FX Structures

        Exchange Traded Futures & Options

        TARF / TARN

        Total Return Swaps

        Credit Default Swaps

        Duel Currency Deposits

        Commodity Options Swaps & Spreads 

        Equity Options

        Swaptions

        Cap / Floors / FRA

        PRS

        Private Equity

        Margin Trading

Job Context

• Staff must be accountable for accurate and timely Validation Confirmation Matching & Settlement of all Derivatives traded by Global Markets team.
• Staff must make informed and educated decisions about how to deal with the problems encountered and must be aware of when it is necessary to escalate issues to management.
• Staff will be required to regularly communicate interact and problem solve with the Banks Global Markets clients who are sophisticated investors so its imperative they are professional knowledgeable and take ownership of any issues whilst ensuring the client is kept informed at all times. 
• Staff will be required to service the Operational requirements for various international FAB offices specifically but not limited to London Hong Kong Singapore Labuan Oman and Cayman Islands.
• Staff should be aware of and adhere to any regulations as defined by the jurisdiction in operation.

The Validation & Confirmation of Global Market trades:

• Ensure all Derivative transactions executed by the Global Markets trading team are validated within the agreed turnaround time within Murex.
• Ensure correct interpretation of trade recaps relation to complex trade booking structure and liaise effectively with Global Markets (GM) and its enablement partners
• Collaborate with the Legal team to address clientspecific requirements including Negative affirmations changes in ISDA language and requests for 2021 vs 2006 ISDA definitions
• Islamic Derivatives interpret Shariah guidelines and align them with current processes while engaging in dialogue with Shariah specialists from GM and Compliance
• Private Equity: Identify and distinguish among different transactions associated with private equity such as capital calls distributions permanent and temporary capital returns and management fees
• Show a strong understanding of carbon markets especially in relation to carbon operations and recognize the differences between compliance and voluntary markets. Be knowledgeable about the relevant ISDA definitions for European Union Allowances (EUA) and the confirmation templates for Voluntary Carbon Credits (VCC)
• Ensure all trade confirmations are sent to the Counterparties within the agreed turnaround time.
• Follow up with any Counterparties who we have not received a confirmation from.
• Track all confirmations that have not been signed and returned and escalate.
• Report any booking discrepancies found between the trade recap or affirmation system and Murex to Global Markets in a timely fashion.
• Act as a key enabler in managing activities alongside Compliance and Market Risk teams to ensure the accurate determination of closing prices particularly for OTC and ETD transactions
• Coordinate effectively with stakeholders including clearing brokers clearing houses market risk teams Murex IT and Global Market traders to facilitate trade compression and blended netting
• Ensure adherence to trade reporting regulations for CB UAE HKMA MAS MiFID and others

The Settlements of the Global Market trades:

• Ensure all settlements booked in Murex are agreed with the counterparty via the presettlement procedure before the agreed value date.
• Ensure complex settlements involving multiple cash flows including funding performance and discounting risk free rate) with initial exchanges in local currencies are processed correctly on or before value date
• Ensure all settlements are processed on or before value date & to the correct SSIs.
• Follow up with the Counterparties for any non receipts.
• Help in resolving all reconciliation issues. 

General:

• Report & highlight all risk factors identified.
• Strict adherence to the bank Policies & Procedures
• Support the department in business development projects where requested
• Ensure that all processes are documented in the relevant SOP and that they are kept up to date.
• Ensure all KRIs reports are updated daily.
• Ensure that all reporting requirements are adhered to. 

Qualifications :

Minimum Qualification

• Bachelors degree in Business Accounting or related discipline.

Minimum Experience

• 5 years relevant experience in the banking sector with at least 2 years in similar positions of progressively increasing responsibilities in an Operations function.

Remote Work :

No

Employment Type :

Fulltime