At a Glance
- Tasks: Execute and support trades in a fast-paced banking environment.
- Company: Dynamic city-based banking institution with a focus on innovation.
- Benefits: Competitive salary, career growth, and opportunities to work with cutting-edge financial products.
- Other info: Collaborative culture with opportunities to participate in exciting projects.
- Why this job: Join a team that drives impactful trading operations and enhances your finance skills.
- Qualifications: 5+ years in trade support and strong knowledge of financial products required.
The predicted salary is between 60000 - 84000 £ per year.
A City based banking institution are recruiting within trade support for International Rates Trading. The successful candidate will be accountable for the execution of trades and to develop and maintain working relationships with Capital Markets Trading & Sales, Product Operations.
Overview
- Accountable for the execution of assigned on-desk trade support activities in a timely, accurate and efficient basis.
- Book, validate and amend trades, affirm and allocate trades in Markitwire, Calypso and TOMs.
- Review trade discrepancies and investigation.
- Perform trade and position reconciliations. Investigate PnL and booking issues.
- Brokerage checks and any other adhoc requests by trading desk.
- Support the resolution of exceptions, escalating to management as required.
- Support the introduction of new products or processes and new technologies that are in line with Business Partner initiatives participating in the analysis, testing and implementation activities.
- Participate in various stakeholder forums (Project Delivery/ Technology/ Regulatory/ Risk) in support of Rates Trade Support activities.
- Identify potential risk situations within the scope of Rates Trade Support activities, escalating to management as required.
- Identify opportunities to improve the operational effectiveness of assigned day-to-day Rates Trade Support activities.
- Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support.
Experience Required
- 5+ years experience supporting rates or structured interest rates trading desk.
- University Degree in related discipline.
- Strong knowledge and understanding of a range of financial products including interest rate swaps, inflation swaps, cross currency swaps, bonds, futures, options, fras etc including structured rates products.
- Expert knowledge of Markitwire and Calypso, extensive experience in building non-standard trades including modelling trades in Calypso and Markitwire for pricing.
- Knowledge of OIS compounding rate calculation to aid rate discrepancy investigation.
- Ability to calculate swap notional given risk and tenor.
- Familiarity with trade pricing including asset swaps, butterflies, spreads etc to sanity check broker trades.
- Experience of trade compressions and the processing of compressions including risk checks.
- Experience of SwapAgent.
- Good understanding of the drivers of PnL and risk with experience of EOD flash / trader blotter checks.
Senior Middle Office - Interest Rate Derivatives in City of London employer: MW Recruitment Limited
As a leading City-based bank, we pride ourselves on fostering a dynamic and inclusive work environment that empowers our employees to thrive. Our Compliance Advisory team plays a crucial role in ensuring regulatory adherence while supporting the business's commercial objectives, offering ample opportunities for professional growth and development. With a strong emphasis on collaboration and innovation, we provide our employees with the tools and resources they need to succeed in a fast-paced Capital Markets setting.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Middle Office - Interest Rate Derivatives in City of London
✨Network Like a Pro
Get out there and connect with people in the industry! Attend events, join online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can land you that dream job.
✨Ace the Interview
Prepare for your interviews by researching the company and the role inside out. We recommend practising common interview questions and even doing mock interviews with friends. Show them you’re not just a fit for the role, but also a great addition to their team!
✨Follow Up
After your interview, don’t forget to send a thank-you email! It’s a simple gesture that shows your appreciation and keeps you fresh in their minds. We believe this can make a big difference in how they perceive you as a candidate.
✨Apply Through Our Website
When you find a role that excites you, apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we’re always looking for passionate individuals to join our team, so don’t hesitate!
We think you need these skills to ace Senior Middle Office - Interest Rate Derivatives in City of London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Middle Office role. Highlight your experience with interest rate derivatives and any relevant tools like Markitwire and Calypso. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about trade support and how your background makes you a perfect fit for our team. Keep it concise but impactful – we love a good story!
Showcase Your Experience:When detailing your experience, focus on specific achievements related to trade execution and reconciliation. We’re keen to see how you've tackled challenges in previous roles, so don’t hold back on the details!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy – just a few clicks and you’re done!
How to prepare for a job interview at MW Recruitment Limited
✨Know Your Financial Products
Make sure you brush up on your knowledge of financial products, especially interest rate derivatives like swaps and options. Be ready to discuss how these products work and their implications in trading scenarios.
✨Familiarise Yourself with Key Tools
Since the role requires expertise in Markitwire and Calypso, take some time to get comfortable with these platforms. If possible, try to find tutorials or practice environments to demonstrate your proficiency during the interview.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills, especially around trade discrepancies and reconciliations. Think of examples from your past experience where you successfully resolved issues or improved processes.
✨Showcase Your Communication Skills
As you'll be working closely with various stakeholders, it's crucial to demonstrate your ability to communicate effectively. Prepare to discuss how you've built relationships in previous roles and how you handle customer service challenges.
