Assistant Vice President, Derivatives Trade Support Specialist

Job Description

Please visit our website for more information - mufgemea.com.The Operations division is core to all of MUFGs business activities. With employees based in London, New York and Hong Kong, the function consists of five pillars Middle Office, Business Management,Transaction Processing, Clearing and Settlement, and Operational Control. A diverse product range is covered including Equities, FX, Fixed Income, and Derivatives.The division has a wide range of responsibilities including oversight of the business and ourability to achieve strategic goals via our change program; interface to the business, customer, branch and agent network; managing the processing lifecycle for trades and transactions from the single touch, single entry items through to the complex, multi-entrytrades; providing a shared service/utility function by receiving the output of Transaction Processing and executing the cash and/or clearing of processed transactions; independent control function ensuring Transaction Processing and Clearing & Settlement Servicesexecute appropriate controls to mitigate regulatory and operational risks. Operations also plays an instrumental role in business development and the introduction of new products and marketsNUMBER OF DIRECT REPORTS 0MAIN PURPOSE OF THE ROLE The opportunityis 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 vanillaand 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 vitalintermediary 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 candidatewill 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 routinesacross 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 interactionwith 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 experiencein flow products.KEY RESPONSIBILITIES In this role, you will be responsible for Derivatives Trade Support across MUFGs banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of boththe 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 andtimely 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 Ensure accuracyof 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 consistentand 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 efficienttrade support WORK EXPERIENCE Essential: Middle Office, Trading Assistant or Product Control experience in flow or exotic derivatives SKILLS AND EXPERIENCE Functional / Technical Competencies: Essential: Multi-asset experience supporting flow and exotic derivativeproducts either in a trade support or product control capacity A strong understanding of different asset classes particularly rates, credit and FX derivatives and complex booking methodologies Good understanding of Confirmations and ISDA documentation Strongunderstanding 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 definitionsGood 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 flowsand 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 fromtrade bookings Education / Qualifications: Essential: Bachelor or Masters Degree in a technical or appropriate field of study (Economics, Mathematics, Finance, Engineering, etc.) PERSONAL REQUIREMENTS Strong technical ability - marrying exemplary productknowledge 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 inclear 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 continge