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EMEA Lead - OTC Derivative Confirmation and Settlements

Chester, , United Kingdom

Job Description:

Job Title: EMEA Lead - OTC Derivative Confirmation and Settlements

Corporate Title: Director   

Location: Chester

Role Description:

  • The FX and Commodities Operations and OTC Derivative Confirmation and Settlement (FCO & DCS) 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 FCO & DCS, the teams provide multiple services such as FX and Commodities trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.
  • This role provides global oversight in managing the FX and OTC Derivatives (Fixed Income) Settlement operations function.
  • The function carries a high level of regulatory risk, monetary exposure, and loss potential due to transaction size and daily production windows, which can impact client relationships.
  • Decisions have significant impact affecting multiple operations functions, product lines and client relationships. Serves as an escalation point to resolve broad and complex operational
  • Develops and implements procedures to enhance group productivity and efficiency.  Manages business change and workflow coordination. Manages daily activities ensuring adherence to deadlines, quality standards, procedures, and regulatory requirements.
  • Represents the global function with key stakeholder meetings including:  Interactions with senior operations management, Front Office Trading & COO’s, stakeholder support units (OCRM, OR&C, Change, Compliance, Audit, Finance, Credit, Technology, etc.), as well as developing and managing key client and external relationships.

Responsibilities

Responsible for assisting in process governance, strategic planning, reporting, and forecasting operational performance in connection with client service, compensation decisioning, talent planning and development, and performance management at a senior level.

Responsible for decisions related to process authorization, staffing and employee development.

  • EMEA Regional Leader with oversight of the Global FX (Confirmation and Settlements) and OTC Fixed Income Derivatives (Settlements) function
  • Global Cross-Functional liaison / relationship manager for clients and internal stakeholders
  • Drives strategic agenda across asset classes including: Team integration and Global Functional Design Model
  • Assists in delivery of a combined FX and OTC Derivatives platinum strategy that extends in partnership with the OTC Derivatives Equities servicing and Global Documentation functions, for Platinum Clients and Tier 1 clients
  • Coordination and delegation of workflow across large scale team
  • Process Owner and Operational Risk Manager that actively governs analyzes KPI’s and KRI’s within risk framework for sustainability and control
  • Strives to optimize and improve operational performance and service provided to our clients
  • Settlement verification of high value notional for Multiple Asset Classes: FX, OTC Derivatives (Rates, Credit, LCT) as needed
  • Escalation point-of-contact for clients and stakeholders for FX and OTC Derivatives (Rates, Credit, LCT)
  • Assist with problem resolution and root cause analysis
  • Leadership, coaching and development of team members

The Team:

Requires broad business knowledge, thorough knowledge of operations support management and expertise in FX and OTC Derivative product area(s) gained through increasingly more responsible management positions in operations. This employee may also be responsible for managing initiatives of significant scope and scale.

We are seeking a team player who provides sound senior leadership and is an active contributor who will question and challenge everything, drive innovation and refuse to accept the status quo. An individual hungry for a challenge and willing to learn and interact across a diverse range of stakeholders. A keen understanding of how to define the meaning of Risk Appetite, is continuously risk aware with a keen eye on controls, while overlaying with commercial viability. Ability to communicate at all levels and an understanding of the value of being able to ‘bring your audience with you’. Ability to present ideas and data well, while placing content and delivery over form.

Core Skills:

  • Someone wanting to join a team where delivery, innovation and team spirit are held in the highest regard. Focused on delivering for our clients and helping the team reach its fullest potential. 
  • Supports inclusivity and allyship for all.
  • 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
  • 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"

Bank of America:

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunity employer and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications, and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Job Band:

H4

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: EMEA Lead - OTC Derivative Confirmation and Settlements

Corporate Title: Director   

Location: Chester

Role Description:

  • The FX and Commodities Operations and OTC Derivative Confirmation and Settlement (FCO & DCS) 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 FCO & DCS, the teams provide multiple services such as FX and Commodities trade control, Foreign Exchange (FX) electronic matching and settlement, Over the Counter (OTC) derivative confirmation and settlement, and commodities operations.
  • This role provides global oversight in managing the FX and OTC Derivatives (Fixed Income) Settlement operations function.
  • The function carries a high level of regulatory risk, monetary exposure, and loss potential due to transaction size and daily production windows, which can impact client relationships.
  • Decisions have significant impact affecting multiple operations functions, product lines and client relationships. Serves as an escalation point to resolve broad and complex operational
  • Develops and implements procedures to enhance group productivity and efficiency.  Manages business change and workflow coordination. Manages daily activities ensuring adherence to deadlines, quality standards, procedures, and regulatory requirements.
  • Represents the global function with key stakeholder meetings including:  Interactions with senior operations management, Front Office Trading & COO’s, stakeholder support units (OCRM, OR&C, Change, Compliance, Audit, Finance, Credit, Technology, etc.), as well as developing and managing key client and external relationships.

Responsibilities

Responsible for assisting in process governance, strategic planning, reporting, and forecasting operational performance in connection with client service, compensation decisioning, talent planning and development, and performance management at a senior level.

Responsible for decisions related to process authorization, staffing and employee development.

  • EMEA Regional Leader with oversight of the Global FX (Confirmation and Settlements) and OTC Fixed Income Derivatives (Settlements) function
  • Global Cross-Functional liaison / relationship manager for clients and internal stakeholders
  • Drives strategic agenda across asset classes including: Team integration and Global Functional Design Model
  • Assists in delivery of a combined FX and OTC Derivatives platinum strategy that extends in partnership with the OTC Derivatives Equities servicing and Global Documentation functions, for Platinum Clients and Tier 1 clients
  • Coordination and delegation of workflow across large scale team
  • Process Owner and Operational Risk Manager that actively governs analyzes KPI’s and KRI’s within risk framework for sustainability and control
  • Strives to optimize and improve operational performance and service provided to our clients
  • Settlement verification of high value notional for Multiple Asset Classes: FX, OTC Derivatives (Rates, Credit, LCT) as needed
  • Escalation point-of-contact for clients and stakeholders for FX and OTC Derivatives (Rates, Credit, LCT)
  • Assist with problem resolution and root cause analysis
  • Leadership, coaching and development of team members

The Team:

Requires broad business knowledge, thorough knowledge of operations support management and expertise in FX and OTC Derivative product area(s) gained through increasingly more responsible management positions in operations. This employee may also be responsible for managing initiatives of significant scope and scale.

We are seeking a team player who provides sound senior leadership and is an active contributor who will question and challenge everything, drive innovation and refuse to accept the status quo. An individual hungry for a challenge and willing to learn and interact across a diverse range of stakeholders. A keen understanding of how to define the meaning of Risk Appetite, is continuously risk aware with a keen eye on controls, while overlaying with commercial viability. Ability to communicate at all levels and an understanding of the value of being able to ‘bring your audience with you’. Ability to present ideas and data well, while placing content and delivery over form.

Core Skills:

  • Someone wanting to join a team where delivery, innovation and team spirit are held in the highest regard. Focused on delivering for our clients and helping the team reach its fullest potential. 
  • Supports inclusivity and allyship for all.
  • 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
  • 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"

Bank of America:

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunity employer and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications, and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Learn more about this role

Full time

JR-22075272

Band: H4

Manages People:

Manager:

Talent Acquisition Contact:

Katie Whitehead

Referral Bonus:

0

Street Address

Primary Location:
Herons Way, Chester, CH4 9FE