Our Middle Office Team directly supports our Traders by performing trade reconciliation and control while continuously improving these processes. Supporting our growing trading operations, the Middle Office Team not only monitors and tracks our trading positions, but also continuously seeks opportunities to improve our systems and methods for doing so, in order to catch inefficiencies sooner and more accurately. The Middle Office Team obtains knowledge about procedures and processes and actively shares knowledge of new developments with colleagues internally as well as with our Trading and Risk teams globally.
A Day in the Life
Every morning we will start with the reconciliation of the (cash) positions. All traders want to know if they have a position break which they should be aware of before the opening at 9:00 a.m. as they need to know the breaks before the market opens and they start trading.
During the day, we will inform the traders about the risks they are facing with the exchange trades while also performing our day to day Mid office tasks: reconciliations of previous day PNL, Cash reporting, Checks for BUY in Risks, Chasing counterparties for important settlements; answering questions from traders/ clearers/ counterparties; position management; making bookings; amending wrong bookings etc. At the end of every day we will make sure that all trades have been sent out to our clearers. There is always something to do when you are working in Mid Office - never a dull moment!
Operational support for our traders, following up on and checking executed transactions;
Identify position- and transaction-differences on the basis of various reports, research and resolves these issues
Position, price and P&L reconciliation
Manage trade breaks, settlement issues, fails, etc.
Identifies possible delivery problems as a result of executed trades (overdues) and possible delivery obligations (buy in), discusses possible solutions with traders, and works with Risk Management team where necessary.
Tracking and reconciling commissions and fees for traders
Analyse the costs charged by the clearing broker(s) and reports the outcome
Maintains relationships with clearing brokers, issuers and brokers.
Book OTC trades
Monitor corporate actions
Suggest improvements to current processes:
Execute where possible
Define more complex projects for our Development Team and provide feedback
3 to 5 years of experience in a similar role
Bachelor Degree in Business, Economics or related field
Basic knowledge of financial products and markets with an affinity for Trading;
Proficiency in Excel, VBA and SQL is required
Ability to work independently and responsibly, though within company policies and guiding principles;
Excellent communication skills;
A proactive, assertive, and flexible personality;
Passionate about working in a fast paced environment