At a Glance
- Tasks: Execute and support trades in a fast-paced banking environment, ensuring accuracy and efficiency.
- Company: Dynamic city-based banking institution with a focus on international rates trading.
- Benefits: Competitive salary, career development opportunities, and a collaborative work culture.
- Other info: Engage in innovative projects and enhance your skills in a supportive team environment.
- Why this job: Join a leading bank and make an impact in the exciting world of interest rate derivatives.
- Qualifications: 5+ years in trade support, strong financial product knowledge, and expertise in Markitwire and Calypso.
The predicted salary is between 48000 - 72000 £ 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 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 London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance world, especially those who work in trade support or related areas. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of interest rate derivatives and the tools mentioned in the job description, like Markitwire and Calypso. We want you to be able to talk confidently about your experience and how it relates to the role.
✨Tip Number 3
Showcase your problem-solving skills! Be ready to discuss specific examples where you've resolved trade discrepancies or improved operational effectiveness. This will demonstrate your value to potential employers.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Senior Middle Office - Interest Rate Derivatives in 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 systems 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 the perfect fit for our team. Mention specific experiences that relate to trade support and how you can contribute to our operational effectiveness.
Showcase Your Technical Skills:Don’t forget to highlight your technical know-how! If you've got experience with trade pricing, PnL drivers, or risk checks, make sure these are front and centre in your application. We love candidates who can hit the ground running!
Apply Through Our Website:We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy!
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. This will show that you’re not just familiar with the terms but can apply them practically.
✨Master the Tools of the Trade
Familiarise yourself with Markitwire and Calypso, as well as any other tools mentioned in the job description. If possible, practice using these platforms or similar ones. Being able to demonstrate your proficiency will give you a significant edge during the interview.
✨Prepare for Scenario-Based Questions
Expect questions that require you to think on your feet, such as how you would handle trade discrepancies or PnL issues. Prepare specific examples from your past experience where you successfully resolved similar situations. This will highlight your problem-solving skills and ability to work under pressure.
✨Showcase Your Teamwork Skills
Since the role involves working closely with various stakeholders, be prepared to discuss your experience in collaborative environments. Share examples of how you’ve built relationships with trading desks or product operations, and how you contributed to team success. This will demonstrate your ability to fit into their culture.
