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Derivative Trade Support, Officer

State Street Corporation
London, United Kingdom
Closing date
May 27, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Who we are looking for
The role of the Derivative Trade Support SME is to proactively contribute to the support and delivery of a comprehensive customer-focused service in support of derivative post-trade activity. To deliver high quality solutions, defining and implementing technical excellence, innovation and application as well as enhancing the control framework and contribute to change projects.
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 Derivative Trade Support, Officer you will
  • To proactively support the post trade execution of OTC instruments, including confirmation, settlement and cash movements, investigation and resolution of any resultant trade issues or transaction entry into portfolio administration systems.
  • Liaise with executing brokers, clearing brokers, custodians, middleware vendors, fund managers on a daily basis to ensure the effective administration of derivative transactions, maintaining internal and external relationships.
  • Initiate/participate in change projects to enhance the control framework for all trade processing tasks in the team, mitigate risks and close internal/external audit points.
  • Liaise with Brokers, Trade Capture and Middleware Vendors, Global Clearers, DCM's to determine and maintain best practice and market initiatives.
  • Have an end to end understanding of team's tasks and how they relate and impact to all processes; ensuring improved ways of working are constantly identified. Proactively and continuously examine and evaluate departmental processes and procedures to ensure best practice is followed. Resolving complex problems/issues, advising staff involved in resolving them.
  • Acting as point of escalation for issues/conflicts and ensuring resolution through own knowledge.
  • Maintain detailed knowledge of platform operation processes and system; perform a continuous review of team procedures, policies and systems. Recommend and lead the creation and automation of operational processes and procedures to ensure continuous improvement.
  • Keep up to date with market, regulatory and business changes relating to the work of the department/State Street.
  • Assist department and IT to define requirements, developing innovative system or process solutions where gaps identified.
  • Understanding of key operational risk and performance indicators, including involvement in operational control meetings.
  • Work collaboratively with supervisor/manager fostering credibility and influence towards developing a reputation of operational excellence across the firm, share best practise with peers, creating an awareness of issues throughout the department.
  • Challenge the status quo and question existing process, workflow and operating models to reveal their underlying purpose. Realign the current to the future state and implement new only when necessary.

What we value
These skills will help you succeed in this role
  • Detailed OTC/ETD technical product knowledge
  • Robust technical knowledge and experience in Derivative Trade Support workflows and process with detailed understanding of the front to back lifecycle of derivative trade processing e.g. trade booking/ confirmation/settlements/reconciliation
    • OTC Derivative Rates & Credit products
    • Markitwire/DTCC Electronic confirmation platforms
    • OTC Clearing processes
    • Futures and Options
  • Demonstrate a good understanding of the Asset Management Industry, technologies and regulation
  • An understanding of full front to back trade flows to incorporate processes outside of direct remit, such as; collateral management practises/terminology, fund accounting, valuations and pricing.
  • Proven experience (4 years minimum) within a derivatives trade processing function, at an SME level.
  • Strong process controls awareness.
  • Excellent organisation, analytical and problem solving skills.
  • Ability to work autonomously or collaboratively, an ability to be highly organised and set priorities.
  • Excellent communication skills both verbally and written, with an ability to successfully articulate issues clearly and robustly, with the ability to communicate at all levels.
  • Experience of working in an Agile environment

Education & Preferred Qualifications
  • Educated to A-level or equivalent
  • Degree or equivalent desirable
  • CFA/IMC qualifications

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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