Derivative Services Confirmations Manager, ETD & OTC

Derivative Services Confirmations Manager, ETD & OTC

London, United Kingdom

Job Description

Who we’re looking for

The Derivative Services Team is responsible for ensuring the effective management, monitoring, and control of derivative operations within the firm. This includes working with our resource partners, ensuring compliance with internal policies, industry standards, and regulatory requirements, and supporting the smooth execution of derivative transactions across all asset classes. The team acts as the first line of defence for operational risk management in derivatives, providing assurance to senior management and investment teams that processes are efficient, accurate, and well-controlled.

The team will be responsible for daily delivery of defined operational processes and the oversight of operations performed by external resource teams. All team members will be expected to be multi-skilled and be able to cover across the responsibilities to provide operational resiliency and coverage.

About Us

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions. We aim to provide excellent investment performance to clients through active management. We serve a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.

Established in 1804, we have around 5,500 people across 36 global locations. Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies.

The base

We moved into our new HQ in the City of London in 2018. We’re close to our clients, in the heart of the UK’s financial centre and we have everything we need to work flexibly.

What you’ll do

Leadership of the ETD, OTC Clearing and Confirmations team with accountability for operational performance and delivery of the team and resource partners.

Responsible for overall management and development of staff within the team.

Managing team members performance; conducting 1:1s, appraisals and enforcing group policies.

Oversee the daily operational activities performed by resource partners including quality checking of the Confirmations process across all OTC products ensuring transactions are confirmed within the appropriate timelines.

Quality checking of the ETD process by ensuring all transactions are given up to the clearing brokers on time, that margin payments are agreed and paid on time and checking that the correct fees have been applied in IBOR.

Quality checking of the OTC Cleared process by ensuring all transactions are cleared on time, that margin payments are agreed and paid on time and that client reporting is completed accurately.

Work proactively to resolve BAU issues including reconciliation breaks by coordinating timely resolution of complex exceptions and ensuring appropriate stakeholder updates.

Provide clear, accurate and actionableservice level reporting from department controls, MI and stakeholder feedback to measure the team’s performance against KPI benchmarks and service level expectations.

• Aspire to a culture ofright-first-timeexecution and end-to-end ownership, ensuring issues are captured, escalated appropriately and driven through to closure.
• Perform intra-day controls and review of key risk indicators and exceptions, taking prompt action to mitigate risk, record risk events and prevent issues reoccurring.
• Identify, prioritise and implementtactical process and control improvements.
• Support strategic projects and change activity by providing operational input (requirements, process mapping, control impacts, testing/UAT and readiness) and helping embed new ways of working.

Champion the need to deliver positive change and continual improvement for the business, by actively embracing new technologies and ways of working.

• Build and maintain strong working relationships with stakeholders, clients and service providers, supporting an effective operating rhythm and clear communications.
• Support maintenance of procedures, controls and evidence to remain risk minimal and audit-ready; assist with closure of audit actions and follow-up of remedial activity.
• Motivate and train others in the team to in cross skilling, building both their technical and interpersonal skillsets, and to deliver first class service

Review exception reports and elevate issues in a timely manner.

Participate in incident management, root-cause analysis, and remediation tracking.

Ensure all errors are reported in a timely manner and recorded in the appropriate systems.

Contribute to continuous process improvement and automation initiatives.

The knowledge, experience and qualifications you need

Strong understanding of OTC derivative products including swaps, options, forwards and Repo.

• Previous trade processing experience gained within a derivative trade support team and the associated support functions

Knowledge of end-to-end derivative trade lifecycle and operational processes.

The role is organised within a well-established framework. However, the role holder, is expected to play an active part in improving day-to-day procedures and how the work is to be tackled.

Responsible for planning own workload typically against a backdrop of changing priorities and / or external events for a day ahead.

• Strong problem-solving skills and the ability to communicate complex issues in concise actionable elements

Is required to make routine judgments in situations that are understood and uncontentious. Expected to seek assistance for anything complex or out of the ordinary.

Supportive of team members with a willingness to share your knowledge

The knowledge, experience and qualifications that’ll help

• Experience with confirmation drafting and processing.

Experience of risk, change and project management

• A solid track record of delivering service improvements such as risk reduction and business efficiencies

Wider experience in Asset Management and understanding of the end-to-end asset lifecycle and familiar with ISDA language and standards

Awareness of the risks associated within derivative operations with a proactive approach to preventative measures.

• Strong understanding of operational risks and control frameworks;

Numerical skills and the ability to monitor and produce high quality MIS, and naturally perform root cause analysis;

Experience of working with Aladdin would be advantageous

We Recognise Potential, Whoever You Are

Our purpose is to deliver excellent investment performance to clients through active management. We believe diverse perspectives and an inclusive culture help us make better decisions and achieve better outcomes for our clients. That's why inclusion is a strategic priority for us, and we are an equal opportunities employer. You are welcome here, regardless of your age, disability, gender identity, religious beliefs, sexual orientation, socio-economic background, or any other protected characteristic.

We will consider flexible working arrangements for all roles and provide reasonable accommodations to support applicants and employees, including those with neurodiversity, disability, or physical and mental health needs. For more information, please visit our FAQs.

About Us

We're a global investment manager. We help institutions, intermediaries and individuals around the world invest money to meet their goals, fulfil their ambitions, and prepare for the future.

We have around 6,000 people on six continents. And we've been around for over 200 years, but keep adapting as society and technology changes. What doesn't change is our commitment to helping our clients, and society, prosper.

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