Compressions & Clearing Trade Support
- London, England, United Kingdom
- Temporary, Full time
- Trevose Partners Limited
- 09 Jan 19
The role falls within the Compressions and Clearing team and reports to the Credit / Compressions & Clearing Trade Support manager
Compression & Clearing
The team is primarily engaged in CDS and IRD Clearing & Compressions controls and support and recently became involved in supporting FX Compressions. The team is also responsible for a range of IRD related controls which directly result in the daily mitigation of risk through various checks and reconciliation reporting. The team works closely with Business Management and IT departments in setting out new business initiatives such as enhanced Margin and clearing related workflows.
The activities carried out by the team mean that they perform a vital role in reducing the Banks’ balance sheet and Counterparty Risk profile, and to ensure that the bank is operating within the new MiFid and market regulatory requirements.
Mandatory clearing deals due to EMIR, CFTC etc are cleared and escalated when necessary.
Multilateral (Vendor) Compressions – Running CDS, FX & Rates cycles. The team is responsible for managing the process from signup to execution, working with Front and Back offices to establish correct stock of trades for tear-up, and PV calculation to ensure the final result is risk neutral.
Central Counterparty Processing – Handling of SOD and intraday margin calls and ensuring all processes, reports and reconciliations are carried out in a timely manner.
CCP Compressions – Credit & Rates. Managing the whole process, liaising with Rates Front Office where required. Credit is handled solely within the team as part of the backloading cycle.
CDS Clearing – Back-loading trades into the CCP on a weekly basis for clearing to ICE / LCH and intraday clearing.
CCP Margin Payments – Responsible for SOD and intraday margin calls, and ensuring all processes, reports and reconciliations are carried out in a timely manner. The team is also responsible for the onboarding of new CCPs accounts, for example new CCPs or established CCPs going live with client clearing or new products.
IRD Portfolio Reassignments - Large scale Migration of traders stock from old to new portfolio, this task has been essential to the centralization of trades into HUB portfolio’s for increased efficiency during compression workflows.
SKILLS AND QUALIFICATIONS
Expert in systems and business domain
Expert on the process and best practices for conducting requirements practices in the organisation
Positive and dynamic attitude to complying with deadlines and objectives.
High degree of interest in product and process issues affecting the department.
Effective time management and ability to prioritise workload and escalate issues to management.
Have strong interpersonal / communication skills.
The candidate must display a very professional attitude and be willing to work long hours if the workload is high.
Motivation and Commitment
Technical Business Knowledge
Controls and Production
Analytical and Organisational skills