Vice President/Assistant Vice President, Derivatives Trade Support

Please visit our website for more information – mufgemea.com.

Operations Markets & Securities Services is part of the Operations Office for EMEA that supports MUFG's core products and services including Banking (commercial/retail based payments, loans, derivatives, trade finance) and Securities (Derivatives, FX, Fixed Income, Equity etc.). The role of Operations Markets & Securities Services is to service the requirements of the firm's internal clients (Front Office, Trading Desks etc.) as well as manage external relationships (Brokers, Custodians etc.) and also has close ties with other support areas such as Legal, Compliance, and Risk.

NUMBER OF DIRECT REPORTS
0

MAIN PURPOSE OF THE ROLE

The opportunity is for an enthusiastic and intelligent individual to join the Middle Office Derivatives Trade Support team within Operations, responsible for providing control and support for multiple trading desks. The desks are engaged in pricing and trading of vanilla and structured derivative products across multiple assets classes including rates, equity, commodity, credit and FX.

The team provides trader support to facilitate the accurate and timely booking and post execution care of all trades executed. Acting as a vital intermediary between Trading, Sales, Structuring and various back office areas, the Derivatives Trade Support team has a pivotal role in BAU whilst contributing to the planning and development of new product offerings on a regular basis.

The successful candidate will spend time learning the day–to–day processes, interactions and many relationships managed by the team, helping to provide continuous development ideas and driving through required improvements. The role will focus on supporting flow derivative products, therefore a very strong understanding of the trading infrastructure, pricing inputs and lifecycle management mechanics of these products is critical. The position will require daily face off to the business, performing real time validation control routines across the platform, and running daily reconciliations to identify discrepancies and ensuring they are fully understood, explained and communicated to relevant stakeholders. A detailed understanding of the front to back process is essential since daily interaction with internal and external stakeholders is required to ensure relevant updates are processed in a timely manner.

This is a demanding role which requires the candidate to undertake a multitude of disciplines, and has existing multi–asset derivatives experience in flow products.

KEY RESPONSIBILITIES

In this role, you will be responsible for Derivatives Trade Support across MUFG's banking arm and securities business under a dual–hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business,

Responsibilities will include:

• Day to day accurate execution of processes, being a direct contributor to re–engineering or building of controls
• Liaising closely with Trading, Sales and Structuring to ensure accurate and timely bookings of trades
• Act as a key liaison between trading, other support functions and the counterparty
• Trade lifecycle management including T0 validation, fixings, coupon calculations, trigger monitoring, break clause and expiry monitoring
• Reconciliation of Derivatives transactions economics and processing Brokerage reconciliations/payments, ownership of relative accounts and production of MI reports.
• Completing Monthly and Quarterly attestations on the Brokerage accounts.
• Ensure accuracy of all components of new and existing trade bookings across multiple systems
• Fully understand the controls required to support the business through inter–system reconciliations
• Strict adherence to internal control and escalation protocol
• Maintain a consistent and robust control environment
• Contribute to continuous process improvements
• Development and testing of in–house systems
• Participate in strategic projects across multiple infrastructures
• Compose and maintain process manuals to ensure accurate and efficient trade support

WORK EXPERIENCE

Essential:

• Middle Office, Trading Assistant , Product Control and/or Brokerage SME experience in flow or exotic derivatives
  
  Beneficial:

• Experience in an Operations role (e.g. Settlements, Collateral, Trade Support, Ops Project Management) would also be beneficial

SKILLS AND EXPERIENCE
Functional / Technical Competencies:
Essential:

• A strong understanding of different asset classes particularly rates, credit and FX derivatives and complex booking methodologies
• Strong understanding of derivative products and payoff features including risk profile analysis.
• Strong understanding of the various lifecycle events and associated risks on these products
• Infrastructure knowledge of electronic trading platforms including MarkitWire, TradeWeb, Bloomberg TOMS, ICE Link, etc.
• Understanding and experience in clearing mechanics and compression optimization
• Understand the key elements of the front to back process flow including other infrastructure groups i.e. Market Risk, Credit Risk, Finance, Product Control, Legal, Compliance, etc.
• Financial Math knowledge
• Fundamentals of P&L substantiation
• Basic understanding of the term structure of projection/discount curves and swap pricing
• Appreciation of the Greeks
• Understanding of the ISDA swap definitions
• Good understanding of the regulatory reporting requirements in various jurisdictions
• Familiar with running robust reconciliations and controls
• Understanding of the lifecycle event management on both vanilla and structured products
• Understand the cash flows and dynamics of a banking business such as funding requirements and their importance
• Knowledge of collateral processes, Initial Margin, Variation Margin, general CSA familiarity
• Accounting knowledge, ability to identify impacts to P&L and Balance Sheet from trade bookings

Education / Qualifications:
Essential:

• Bachelor or Master's Degree in a technical or appropriate field of study (Economics, Mathematics, Finance, Engineering, etc.)

PERSONAL REQUIREMENTS

• Strong technical ability – marrying exemplary product knowledge with meticulous attention to detail and analytical skills
• Creates a culture of creativity and innovation – identify ways to improve processes and develop creative solutions
• Excellent communication skills – ability to communicate complex issues in clear and concise terms to a broad audience
• Responsible – highly motivated self–starter who takes ownership of a given process, executes it with due diligence and efficiency
• Problem solving and judgement – proactive, thinks ahead, plans for contingencies, anticipates questions from different perspectives, seeks alternative solutions and delineates clear objectives
• Excellent interpersonal skills – team focus, gives evidence of a strong collaborative working ethic
• Results driven, with a strong sense of accountability
• A proactive, motivated approach.
• The ability to operate with urgency and prioritise work accordingly
• Strong decision making skills, the ability to demonstrate sound judgement
• A creative and innovative approach to work together with structured and logical reasoning
• The ability to manage large workloads and tight deadlines
• A calm approach, with the ability to perform well in a pressurised environment
• Excellent Microsoft Office skills (Excel, VBA, Access)
• A confident approach, with the ability to provide clear direction to the team
• A strategic approach, with the ability to lead and motivate a team

PERFORMANCE AND DUTIES

The role holder will be assessed in accordance with their employing entity's performance framework and process with relevant input obtained from the dual hatting entity as relevant.

As duties and responsibilities change, the job description will be reviewed and emended in consultation with the role holder. The role holder will carry out other duties as are within the scope, spirit and purpose of the role as requested by their line manager or Department Head.

MANAGING CONFLICTS OF INTEREST

• The role holder will have responsibilities for both MUFG Bank and MUFG Securities EMEA plc.
• The role holder will be required to perform their duties and responsibilities on an entity neutral basis, without favour.
• The role holder is required to follow regulatory requirements applicable to ensure each business is appropriately supported and to maintain the legal entity integrity of each of MUFG Bank and MUS.
• Working terms are dictated by functional mandates, the terms of the Dual–Hat Arrangement Agreement in place between MUFG Bank and MUFG Securities EMEA plc and any other relevant agreements entered into between MUFG Bank and MUFG Securities EMEA plc.
• The role holder will have responsibility for identifying and resolving where there may be a difference or conflict in needs between MUFG Bank and MUFG Securities EMEA plc, escalating to their manager where required.
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