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Fixed Income Operation Trade Control Analyst – US Mortgage Trading

Charlotte, North Carolina

Job Description:

FDCO Overview
The Fixed Income, Currency and Commodities (FICC) & Derivative Core Operations (FDCO) team perform end to end trade control, confirmation and settlements processes across FICC businesses and provides utility OTC derivative confirmation and settlement services for non FICC businesses.
Within FDCO, the teams provide multiple services such as FICC trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.

Job Description:

Summary

Responsible for managing the trade-capture workflow for the US Mortgage Trading Desk, with a focus on Mortgage Index derivatives, and related hedge products. Trade Control responsibilities include, but are not limited to, performing initial review of trade bookings; working with trading and sales to resolve discrepancies and ensuring proper flow into the system of record; facilitating monthly life cycle credit events and scheduled trade compressions; Perform reconciliation of trade positions and tasks associated with end-of-day controls. In addition, the role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, the role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.

Position Description: 

  • Work in a fast-paced environment with direct communications with Trading Desk and Sales
  • Monitor workflow in the primary trade capture system, as well as system of record
  • Apply independent judgment and discretion when resolving trade discrepancies to ensure that the correct risk is always reflected in Front-Office Trading system and Back Office Risk Systems
  • Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trade capture system, eg. Booking errors leading to fee discrepancies.
  • Primary point of contact for the Front Office, Operations, and Finance on matters of significance
  • Understand various idiosyncrasies and convention of Mortgage Indices in order to provide expeditious support
  • Ensure internal risk positions are appropriately reflected to mitigate any risk to the firm’s capital
  • Ensure initial trade bookings, trade amendments, allocations and novations occur in a timely manner to meet Real Time Reporting requirements
  • Ensure trade bookings are compliant within existing regulatory frameworks such as Volcker CFTR, Swaps Push-Out, and UMR
  • Responsible for global connectivity and communication with counterparts across various Line-of-Business to ensure consistency and alignment to target Control Standards within Trade Control

Basic Qualifications:

  • Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market
  • Excellent Excel reporting-related skills
  • Detail-oriented to operation trade flow, data entry, and data reconciliation
  • Ability to liaise across multiple functional teams to resolve issues
  • Ability to operate autonomously without direct supervision
  • Ability to quickly analyze and make decisions in the event of a problem
  • Ability to quickly grasp new industry practices and create/document new processes
  • Strong organizational skills and ability to effectively prioritize multiple tasks

Desired Qualifications:

  • 1 - 3 years of experience in the trade support and middle office space
  • Knowledge of financial processing systems
  • Understanding of the “Best Practices” and back-to-front product flow to manage Operational Risk
  • Relevant industry product knowledge
  • Proactive thought leadership to identify and deliver process improvements and efficiencies
  • Knowledge of industry regulatory frameworks such as Volcker Reporting and DTCC Real-Time Reporting

Other Qualification

∙ Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market
∙ Excellent Excel reporting-related skills

∙ Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
∙ Excels in working among diverse viewpoints to determine the best path forward
∙ Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner
∙ Commitment to challenging the status quo and promoting positive change.
∙ Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
∙ Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Job Band:

H6

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

FDCO Overview
The Fixed Income, Currency and Commodities (FICC) & Derivative Core Operations (FDCO) team perform end to end trade control, confirmation and settlements processes across FICC businesses and provides utility OTC derivative confirmation and settlement services for non FICC businesses.
Within FDCO, the teams provide multiple services such as FICC trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.

Job Description:

Summary

Responsible for managing the trade-capture workflow for the US Mortgage Trading Desk, with a focus on Mortgage Index derivatives, and related hedge products. Trade Control responsibilities include, but are not limited to, performing initial review of trade bookings; working with trading and sales to resolve discrepancies and ensuring proper flow into the system of record; facilitating monthly life cycle credit events and scheduled trade compressions; Perform reconciliation of trade positions and tasks associated with end-of-day controls. In addition, the role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, the role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.

Position Description: 

  • Work in a fast-paced environment with direct communications with Trading Desk and Sales
  • Monitor workflow in the primary trade capture system, as well as system of record
  • Apply independent judgment and discretion when resolving trade discrepancies to ensure that the correct risk is always reflected in Front-Office Trading system and Back Office Risk Systems
  • Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trade capture system, eg. Booking errors leading to fee discrepancies.
  • Primary point of contact for the Front Office, Operations, and Finance on matters of significance
  • Understand various idiosyncrasies and convention of Mortgage Indices in order to provide expeditious support
  • Ensure internal risk positions are appropriately reflected to mitigate any risk to the firm’s capital
  • Ensure initial trade bookings, trade amendments, allocations and novations occur in a timely manner to meet Real Time Reporting requirements
  • Ensure trade bookings are compliant within existing regulatory frameworks such as Volcker CFTR, Swaps Push-Out, and UMR
  • Responsible for global connectivity and communication with counterparts across various Line-of-Business to ensure consistency and alignment to target Control Standards within Trade Control

Basic Qualifications:

  • Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market
  • Excellent Excel reporting-related skills
  • Detail-oriented to operation trade flow, data entry, and data reconciliation
  • Ability to liaise across multiple functional teams to resolve issues
  • Ability to operate autonomously without direct supervision
  • Ability to quickly analyze and make decisions in the event of a problem
  • Ability to quickly grasp new industry practices and create/document new processes
  • Strong organizational skills and ability to effectively prioritize multiple tasks

Desired Qualifications:

  • 1 - 3 years of experience in the trade support and middle office space
  • Knowledge of financial processing systems
  • Understanding of the “Best Practices” and back-to-front product flow to manage Operational Risk
  • Relevant industry product knowledge
  • Proactive thought leadership to identify and deliver process improvements and efficiencies
  • Knowledge of industry regulatory frameworks such as Volcker Reporting and DTCC Real-Time Reporting

Other Qualification

∙ Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market
∙ Excellent Excel reporting-related skills

∙ Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
∙ Excels in working among diverse viewpoints to determine the best path forward
∙ Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner
∙ Commitment to challenging the status quo and promoting positive change.
∙ Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
∙ Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21080388

Band: H6

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Autumn Barlow Huitt

Referral Bonus:

0

Street Address

Primary Location:
200 N College St, NC, Charlotte, 28255