• Negotiable
  • Newark, NJ, USA
  • Permanent, Full time
  • Standard Chartered Bank
  • 09 Oct 17

Exchange Traded Derivatives (ETD) Operations specialist

  • Location: Newark, NJ, USA
  • Salary: Negotiable
  • Job Type: Full time

Please view Job Description for details.

We're a leading international bank, with more than a 150-year history in some of the world's most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East.
With more than 1,100 branches and offices in 68 countries, we offer exciting and challenging international career opportunities.
  • This role is a key hire into the New York Operations team to deliver the operational requirements of the CME Self Clearing project and support the CME, ICE and LME Clearing operations and Middle Office Trade Support activities post go live.
  • The role will be the 1 st point of contact onshore for any operational issues and will be integral to achieving the banks ambition of becoming a self-clearing member of the CME (NYMEX, CBOT and COMEX).
  • Standard Chartered Bank (SCB) Information Technology & Operations (ITO) has a dedicated Financial Market Operations which supports the market clients and products within Corporate & Institutional Banking (C&IB). FM Operations has responsibility for the execution, control and continuous improvement of processes to support our Products & Clients. FMO has 3 distinct functions - Product Management, Regional/Country oversight and Processing Functions (Service Providers). This role has oversight for product management of Financial Market Commodity Operations including Futures, Listed and OTC Derivatives and Physical Commodities.

Key Roles and Responsibilities

Clearing Operations

* Maintenance of broker, contract, accounts in the banks systems to ensure STP trade flow
* Top Day Trade Monitoring and allocations for CME (NYMEX, COMEX, CBOT) and LME
* Monitoring Lifecyle events on TAS trades
* Trade and Position Reconciliation against the CME
* Front Office - Back Office (FOBO) Reconciliations
* Open interest management
* Managing intra-day cash margin calls
* Option Abandonment/Exercise
* Position Reporting to the exchange

Middle Office Trade Support

* Trade Validation (Inventory Financing and Commodity Derivatives)
* Ensure all trades are booked as per approved booking models.
* Be the 1st point of contact for all front office queries with regards trade booking/fixings
* Perform Present Value detective controls. Use PNL Simulation Viewer to identify trade anomalies. Analyse and resolve any trade errors.
* Ensure all prices which require fixing in NY working hours are done so in accordance with the fixing procedure and the product spec. Facilitate the build-out of automated fixings
* Perform timely reconciliation between internal trading systems

Additionally, each team member is expected to take a key role and proactive stance on new initiatives and projects to drive the business forward, including working closely with the exchanges to deliver new market services to SCB.
Key Stakeholders
  • Work in close synergy with the global ETD Clearing teams in London, Singapore and Kuala Lumpur and Middle Office in London, Singapore and India to resolve daily BAU issues and ensure processes are executed efficiently.
  • Support the trading desks by being responsive to any questions and challenge when necessary.
  • Work closely with Country and Group Operational Risk Functions to address control gaps or process weaknesses.
  • Support the Global Head of Commodity Operations and the Commodities COO office to execute the strategy of the Commodities Business.
  • Support both country and product compliance to ensure the function is compliant to all regulatory and exchange requirements

Qualifications and Skills

Systems Experience
FEC, PTMS, ACS, LME SMART, LME SELECT, Clearvision, UBIX, Murex 2.11, OPICS preferred
Process Experience
Strong understanding of post trade clearing processes on CME required. Strong or sound understanding of ICE and LME processes preferred.
Markets Experience
  • Strong understanding of Futures, Listed and OTC Derivaitives and Repo/financing structures.
  • Understand PNL derivation for all trades to facilitate the identification of incorrect trade details and enhance understanding of the trades being done.
  • In depth knowledge of the full end to end process management (Trade booking to trade settlement). This includes all the lifecycle events.

Product Experience
  • Strong understanding of commodities products including Base Metals, Precious Metals, Structured Inventory Product, Energy. Financial and physical knowledge needed.
  • Strong understanding of inventory finance of warrants/warehouse receipts/holding certificates preferred.