Mesarete Capital is a London based Emerging Market Credit Investment Manager launched in 2021. We have 30 staff in total across our existing hedge fund business and new private credit launch, 6 of those are based in New York and the rest are in our central London office on Golden Square. We are looking for a new team member to join the team in London to work under the existing Head of Treasury.
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The role
This will essentially be a new role under the Head of Treasury, as until now we have just had a single person covering all the treasury responsibilities across the business. We are looking for someone who can learn the ropes and ultimately independently operate the core day to day aspects of the role, enabling our Head of Treasury to further leverage their time as the business continues to grow. In the role we would expect you to continue your own growth at the same time.
Treasury at Mesarete broadly encompasses cash and collateral management – including oversight of the fund admin for their part in the process – and financing and FX hedging for the trading portfolio and any non USD share classes. We operate primarily in liquid EM credit markets, which can be quite nuanced from a financing perspective, and building good relationships with our counterparties (repo/fx brokers/ISDA counterparties, prime brokers) is also a key skill and core requirement. Part of the non-investment team, the treasury function works across departments including with the investment team (PMs and analysts) on a day to day basis so ability to collaborate and be a team player across the board is important. It is important for the candidate to understand that whilst there is a large markets part to the role, it is underpinned by processing and administrative tasks that complete the Treasury responsibility. Accuracy and attention to detail are key and the ability to continually reassess your work and look to enhance process and controls as you go along. This role is full-time office based in London.
Core responsibilities of the Treasury Function
1.Manage cash liquidity of the funds to ensure free cash is within the fund parameters. Financing the portfolio predominantly through repo transactions. Active management of the shorts book to enable the full expression of trade theses. Find routes of efficient funding through axes and negotiations across the dealers. Build and maintain relationships with key financing counterparties. Support the PM’s and Analyst team in their financing enquiries and share colour of the relevant credits. Manage the full lifecycle of repo trades including rolls, rerates and position changes.
2.Act as approver of daily margin requirements for agreements with the PB, clearing houses and bilateral counterparties. Work with the fund admin to refine the process and maintain stringent controls. Ensure disputes are handled appropriately to reach a timely resolution.
3.Monitoring and executing FX funding and hedging transactions for securities and share classes. Understand the details of share class return differentials driven by hedging costs. Manage currency balances across the funds and accounts.
4.Review investor flows and manage the cashflows in the portfolio management system. Understand the fee mechanics to correctly reflect cashflows in the PMS through month-end/year-end processes.
5.Partner with internal functions to carry out a range of critical daily tasks and strategic projects. These may include the launch of new products, navigating regulatory requirements, system upgrades and reviewing trading documentation.
About you
- Good understanding of hedge fund treasury workflows ie with 2 to 5 years relevant experience.
- Familiarity with fixed income markets, preferably in EM and Financing.
- Numerically strong with analytical mindset to work through complex challenges and ability to multitask without compromising quality.
- Team player able to collaborate with all stakeholders and peers.
- Organised, strong attention to detail and willingness to leave no stone unturned.
- Clear communicator and able to work with composure in pressured situations.
- Experience in executing market trades in the relevant products.
- Understanding of FX hedging practices and the use of FX products.
- Knowledge of margining under ISDA/GMRA contracts and cleared derivatives.
- Experience working with prime brokers, fund admins and other hedge fund service providers.
- Strong Excel, SQL and basic coding skills.
- Experience with trading/risk management platforms.
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