Broker Control Manager

Employer
IG Group
Location
Kraków, Poland
Salary
Competitive
Posted
Aug 14, 2019
Closes
Aug 23, 2019
Ref
6308382
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Job Description

General Role description:

The Middle Office Manager reports to the Head of Financial Operations. The role manages the Broker Control team which is responsible for performing a number of critical operational finance processes which ensure that:
  • IG's books and records accurately reflect client and broker trading and end of day positions
  • all transactions in financial instruments and hedging activities are reconciled and controlled
  • broker balances are accurate and all margin payments and recalls processed timely
  • liquidity is effectively managed across banks and brokers


Stakeholders:
  • Reports to the Head of Financial Operations
  • Cooperates closely with Cash Control, Revenue Control and Financial Control in Krakow
  • Regular interactions with Dealing Desks, Treasury, Finance Change and Corporate Actions teams located in London
  • Works with Corporate functions like Risk, Compliance and Internal Audit in their second and third line of defence role
  • External relationships with third party Brokers, Custodians and Banks


Key Accountabilities:
  • Ensure that broker balances including daily margin payments and recalls are secured, including day to day relationship management with brokers
  • Daily reporting of bank and broker balances and exposures
  • Oversight of daily and monthly broker trade, position and ledger reconciliations
  • Managing the timely investigation and resolution of all breaks including engaging with teams outside finance as necessary
  • Coordination of data streams across teams and key controls ensuring completeness and accuracy of data
  • Proactively manage open IT incidents ensuring that issues are fixed and have the right priority
  • Preparation of regular and ad hoc MI for top management across pillars to update on current status
  • Responsibility for identifying key operational and regulatory risks and controls
  • Ownership and maintenance of process documents and manuals for all control and processes within the remit of this role
  • Identifying improvement projects for the team and coordinating projects implementation with Head of Finance Change
  • Proactively supporting change initiatives within the wider organisation e.g. acquisitions, new entities, new products, new brokers
  • Staying in close relations to the business to understand its current and future production and expectations to be able to deliver best middle office service to the business


Management Responsibilities:
  • Managing processes and controls of the Broker Control team located in Krakow
  • Managing performance, efficiency and effectiveness of the team including overtime
  • Developing the knowledge and experience of people within the team under control including ensuring adequate coverage and cross training of all processes
  • Team development and leadership, resource planning and management, recruitment and succession planning of direct team


Person Specification:

Experience

Essential:
  • 6 years working experience with financial markets, financial instruments and banking and brokers environment
  • 3 years experience in managing teams and processes and building strong relationships throughout a business
  • Experience of working in an international Group and building relationships with stakeholders in other countries
  • Strong people and process manager
  • Process development and improvement
  • Understanding of financial markets and financial instruments (Equity, Futures, Options, Fixed Income, FX, Derivatives)
  • Hands on; attention to detail; meeting regular deadlines; taking ownership of assigned responsibilities; strong team ethos
  • Ability to adapt to a rapidly changing environment
  • Strong Microsoft Excel skills


Qualifications

Essential:
  • University degree in Finance, Financial Markets, Financial Management

Desirable:
  • A post-graduate qualification, for example a CFA, CIMA, or ACCA


Interpersonal Skills

Essential:
  • Fluent English speaker
  • Excellent communication skills, both written and verbal
  • Ability to work unsupervised, showing initiative in identifying problems and posing solutions
  • Ability to manage people of various grades (Team Leaders, Analysts)
  • Strong relationship building skills


Number of openings
1