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Trading Back Office Manager

Employer
COFCO International
Location
Porto (PT)
Salary
To be negotiate
Closing date
Apr 1, 2019

View more

Job Function
Commodities
Industry Sector
Manufacturing
Employment Type
Full Time

JOB PURPOSE

COFCO International requires a Manager for its newly created Back office function. The incumbent will be responsible for the entire Global Trading Back Office Operations of our International Trading business. The Manager will be responsible for the successful global implementation of this department and manage a team of 5-7 employees based in Porto. The Trading Back Office will have responsibility for the full trade life cycle, reconciling all daily physical and derivatives trades. The Manager will need to ensure that all trades adhere to trade lifecycle policy and a good working relationship with relevant Global Heads and external counterparties will be essential to ensure its success.


RESPONSABILITIES

 

  • Under the direction of the Group Head of Business Control; the Head of Back Office will set the strategy and policy for the trade lifecycle;
  • The seasoned manager will recruit, train and manage the Trading Back Office team, approximately 5-7 employees;
  • Be autonomous in working with relevant Trading Desk Heads and Managing Directors across the globe to ensure the trade lifecycle policy is built into the day to day physical and derivative trading;
  • Set a high standard of performance, values and policy;
  • Establish measurement and dashboard reports for the Board’s review and deal directly with any queries and comments;
  • As COFCO International continues its growth trading strategy additional tasks and responsibilities could be added
  • The scope of the trade lifecycle consists of, but not limited to:

Derivate Trades:

        

    • Daily reconciliation of broker fees and exchange fees

    • Liaise with clearing brokers/exchanges to resolve breaks

    • Monthly reconciliation and settlements process for fees and rebates

    • Margin Management - Margin Call Validation

    • Expiry Alerts and Exchange Spot Period Alerts

    • Maintenance of account structure, opening and closing of subaccounts

    • Creation/deletions of traders in exchanges and brokers systems

    • Acts as point of contact for documentary requirements of derivatives brokers

    • Manage Give Up Agreements

 

Physical Trades:

 

    • Daily Reconciliation of Trade Entry with Broker Confirmation or Counterparty Trade Recap

    • Daily Reconciliation Intercompany Trades

    • Liaise with the responsible teams to resolve breaks

    • Administration of confirmation (storage on network)

    • Calculation of “day one” p&l and escalation

             

 

REQUIREMENTS

 

    • Bachelor’s degree or equivalent in Finance, Accounting, Business Administration, Supply Chain or International Trade (Import/export)

    • Fluent in both written and spoken English (other language is a plus)

    • 5-10 years’ experience in a similar position ideally from the Banking or Trading industry

    • Experience in processes, control and setting highly quality standards   

    • Project management of establishing new processes and controls within a global organisation
    • Management of a team, setting measurable targets and motivating to achieve high standards
    • Very good communication skills
    • Proactive and hands on
    • Excellent time management
    • Great attention to detail
    • Willing to find root cause if discrepancies arise
    • Able to liaise with multiple stakeholders and deal with various tasks simultaneously in an ever changing and challenging environment  

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