Trade Management Manager - Belfast
MCS Group are recruiting for two Trade Management Managers for ETD and NGU trade teams on behalf of our global Financial Services client transitioning two teams to Belfast.
Our client provides industry leading analysis and insights to market conditions by combining a wealth of knowledge and cutting-edge products; giving consumer confidence, enhancing investment and contributing to economic growth.
Known for their honesty, integrity and excellence in their customer experience this is a new exciting opportunity for Belfast.
The Trade Management (TM) team process transactions for the Name Give Up (NGU) business as well as Listed Futures: Exchanged Traded Derivatives (ETD). This role will be supporting the Trade Management Exchange Traded Derivatives business.
The ETD TM team oversee the Exchange Traded Derivatives (ETD) clearing mainly covering the Financial, Energy & Commodity contracts via a combination of their own memberships (exchanges such as ICE, Eurex, Euronext, LME etc) or via clearers memberships. They operate an execution only model, whereby we execute trades on the exchanges and then 'give-up' the trades to clients. Their main function is to ensure all trades are taken by the clients (so clients are clear of positions in their books) and to monitor any margin calls and reconcile the bank accounts.
The NGU TM team process the flows for NGU business (primarily Rates & FX) where they arrange a trade between two clients together rather than settling the trade(large interest rate swaps, FX products etc).
As the successful Trade Management Manager you will be responsible for the following duties:
- Supporting the establishment and build out of a new function in Belfast and then subsequently working with colleagues in London on knowledge transfer and service migration;
- Managing, motivating and leading the Trade Management team to ensure that:
- Trades arrive from front office trade capture systems into the TM systems in a timely manner
- All trades are managed efficiently including delivery of trades to clients, reporting venues, or clearing houses/exchanges, as appropriate
- Provide oversight of various external systems/platforms;
- Monitor trade flows;
- Undertake intra-day/month actions to ensure that trades are processed, reconciled & invoiced correctly;
- Ensuring the department remain up-to-date and in compliance with all regulations and requirements affecting the Trade Management Department;
- Undertake UAT and general testing of systems and processes as and when they change, including out of hours support as required, to support the checkout of weekend system upgrades;
- Performing the 'give-up' of trades across multiple exchanges with various local nuances & clearing times;
- Setting up Client Static data at our clearers as well as internal Middle office and Billing systems;
- Ensure Give up Agreements are in place for all counterparties traded with;
- Extensive interaction with our clients, clearers and brokers to ensure timely pick up of trades;
- Intraday Cash Management and Collateralisation;
- Performing reconciliations for all cash accounts with our clearers;
- Review ETD trading on a daily basis to ensure the company has a flat book, escalating residual balances.
The successful Trade Management Manager will have the following characteristics:
- A broad base of financial services operations knowledge and experience;
- Strong, demonstrable experience of effectively managing a Trade Management team within a capital markets or financial services operations environment;
- Strong proven experience in the management of a team;
- Experienced in building and establishing teams;
- Proven experience in identifying, implementing and ensuring successful process improvements.
As the successful Trade Management Manager you will receive the following:
- Market leading remuneration package + extensive benefits;
- 23 days & 10 stats holidays;
- The opportunity to join a brand-new team/company in Belfast with career progression opportunities;
- Joining a warm, friendly, sociable working environment.
To speak in absolute confidence about this opportunity please send an up to date CV via the link provided or contact Matthew Woods, Specialist Consultant at MCS Group 028 9023 5456
Even if this position is not right for you, we may have others that are. Please visit MCS Group to view a wide selection of our current jobs www.mcsgroup.jobs
Experience: 0 yrs