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Senior OTC Pricing Analyst, Officer

State Street Corporation
London, United Kingdom
Closing date
Apr 25, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Who we are looking for
Do you have expertise in pricing / valuing OTC derivatives within Asset Management or Banking?
Are you analytical and have experience improving processes?
We have an exciting opportunity to join a dynamic team who own the pricing of all OTC derivatives held on behalf of a large client. Role best suited to an experienced derivative valuation SME who is looking to expand their understanding and knowledge of OTC derivatives.

The primary function of the Derivative Pricing Team is to ensure all OTC derivatives are accurately priced on a daily basis, in line with agreed valuation methodologies. This is a critical function which deals with all aspects of OTC derivative pricing, providing an efficient service to internal teams and external clients.

Why this role is important to us
The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS' tools help our clients make better investment choices and act on growth opportunities.
Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for
As Senior OTC Pricing Analyst, Officer you will
  • Gain a full understanding of all pricing processes, data sources, downstream delivery and associated procedures.
  • Ensure the calculation of all OTC trade MTMs are accurate, complete and in line with the CTD discounting approach.
  • To check that new business risk is accurately captured so that all derivative valuation platforms provide accurate pricing.
  • Independently price trades via Bloomberg in order to substantiate or challenge official valuations and investigate discrepancies and disputes with counterparties.
  • To proactively seek to improve and streamline existing processes and controls through tactical solutions.
  • To liaise with the collateral team and other operational areas to resolve queries and counterparty valuation disputes.
  • To communicate with, assist and advise Fund Accounting, Investment Risk, Global Operations and other stakeholders on derivative pricing queries.
  • To help produce monthly IPV, Management Information and assist in resolving pricing issues.
What we value
These skills will help you succeed in this role
  • Minimum 3 years experience within OTC derivative valuation / pricing / Product Control functions.
  • Excellent interpersonal and communication skills with the ability to relay information clearly and concisely in both written and verbal communications.
  • Experience in business analysis, process improvement or change management desirable.
  • Highly numerate ideally with experience in pricing vanilla interest rate and inflation derivative products.
  • An understanding of TRS, XCS, Zero Coupon Swaps or similar products desirable.
  • Advanced Excel essential with an understanding of VBA / macros desirable
  • Experience in valuing vanilla derivatives using Bloomberg desirable

Education & Preferred Qualifications
  • Educated to minimum degree level with CIMA, ACA or CFA qualifications an advantage. Part qualified sponsorship possible

Additional requirements
  • Driven, proactive self-starter who is also able to work collaboratively
  • Willingness to learn/ Aptitude for learning and developing
  • Self-motivated and able to work under own initiative

About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we're making our mark on the financial services industry. For more than two centuries, we've been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You'll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees' diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
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