Drafting and Confirmations for FX Derivatives
Salary £41,000 - £49,000 per annum
Consultant Tom Andrew
Date posted 23 July 2018 2018-07-232018-09-21 banking UK Robert Walters United Kingdom
This role is an opportunity for a Drafting and Confrimations expert to put their FX Derivatives knowledge to good use. You will need to be able to demonstrate; the Drafting of "off template" trades, use of Time Structures, examples of working with counterparties, Murex expert, F This role is at a company that prides itself as one of the best Financial Institutions to work for in the UK and is a fantastic opportunity for an experienced candidate.
Title FX Derivatives Confirmations, Assistant Manager
Division Commercial Banking | Delivery | Markets Operations & Trade Services
We’re motivated by a clear purpose; to help Britain prosper. Across the Group, our colleagues are passionate about making a difference to customers, businesses and communities. Our Commercial Banking division has a rich heritage of supporting businesses and the economic prosperity of the nation, primarily focused on UK businesses and those with strong links to the UK. We provide customers with the support they need to help them grow, manage risk and improve efficiency. We continue to invest in our relationship teams and deepen our product expertise to ensure we deliver first class service. Our Derivatives Confirmations Team is responsible for the accurate and timely drafting of outgoing Confirmations, the chasing and checking of incoming Confirmations and the investigation of any discrepancies or customer queries for FX, Commodity, Interest Rate & Inflation and Equity Derivatives across Commercial Banking and Group Corporate Treasury businesses.
• Are you a FX Derivatives expert?
• Do you have great Confirmations experience and ISDA fluent?
If yes, then we're looking for you! Working as part the Markets Operations Derivatives Confirmations Team, you'll be responsible for the drafting, affirmation, chasing and execution of trade Confirmations for all the relevant products and business areas you support. In this role you'll complete work within agreed time lines.
This will include:
• Chasing all outstanding confirmations
• Confirming verbal affirmation within the agreed timelines
• Ensure all drafting is performed by T+1 or escalated accordingly
• Ensure all outstanding comments is updated in the correct format
• Attend regular meetings with Confirmations Management to discuss progress and highlight any issues or concerns
• Ensure policies and procedures are adhered to and kept up to date in line with business and regulatory requirements
Key skills/knowledge/experience you'll bring:
• Deep understanding of ISDA Framework and familiarity with the ISDA Definitions, specifically the FX Definitions
• Extensive experience of drafting (and checking) structured FX Derivative Confirmations – other asset classes helpful
• Excellent product knowledge – in particular the ability to grasp complicated structures/payoffs and draft “off template”
• Must be accurate and pay attention to detail
• Excellent analytical and problem solving skills
• Familiar with the derivative product lifecycle, with specific reference to FX derivatives
• Dedicated in looking for control gaps and improvements to existing processes and procedures
• Ability to liaise with relevant partners – i.e. FO / Legal / Compliance with confidence
• A strong teammate
• Knowledge of current market practice within the derivatives industry including the EMIR timely confirmation and Dodd Frank confirmation requirements
• Use of Murex (essential) and Summit (advantageous) risk systems
• Use of Xceptor as a Confirmations platform / Thunderhead as a Confirmation generation platform
Competencies & Capabilities:
• Proven management & supervisory skills
• Highly knowledgeable of the controls and risks associated with this function
• Customer excellence – looking at processes and ensure the customer experience is always at the heart of everything you do
• Planning & organising – handling workload is key to ensure all tasks are completed by the end of day
• Risk, compliance and regulatory management – confirmations is a key SOX and audit control to mitigate risk for the bank. It is also part of the new regulatory framework so you'll help with meeting new additional requirements
• Confident communication (verbal/written) and excellent interpersonal skills
• Strong influencing skills
We're dedicated to giving you opportunities and support to develop you both professionally and personally to optimise your potential. As a new colleague, you’ll join us on our journey to build a 21st century bank that reflects modern Britain, and craft an inclusive culture where all colleagues feel welcomed and valued. We're committed to building a workforce which reflects the diversity of the customers and communities we serve, and to building an inclusive environment where all our colleagues can be themselves and succeed on merit. We support the principles of agile working and are happy to consider flexible working arrangements. We're an equal opportunity employer and deeply value diversity within our organisation. Together we make it possible.
As well as a competitive salary, this role offers: - Flex cash sum - 28 days holiday (plus bank holidays) - A total reward package that offers discounted lifestyle, financial and protection benefits you can tailor to suit your lifestyle