Broker Control Manager
- Employer
- IG Group
- Location
- Kraków, Poland
- Salary
- Competitive
- Closing date
- Aug 23, 2019
View more
- Job Function
- Accounting/Audit/Tax
- Industry Sector
- Finance - General
- Employment Type
- Full Time
- Education
- Bachelors
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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:
Stakeholders:
Key Accountabilities:
Management Responsibilities:
Person Specification:
Experience
Essential:
Qualifications
Essential:
Desirable:
Interpersonal Skills
Essential:
Number of openings
1
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
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