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Middle Office Desk Support London/ Hybrid£612.16 per Day12 Month Contract - Possible extensions, ideally permanent.Our client are currently seeking experienced Middle Office Desk Support to join their team in the London office/remote working, this contract will be for 12 months with a review to be

extended or made permanent.
The ideal candidate will need to have experience within Interest rate derivatives in Middle Office Management. Experience from middle office/ direct booking/ desk junior/ trade assistant/ sales assistant/ sales support would be ideal, if you have experience from these areas please apply.

Role Purpose
This role is within the Rates & Credit Derivatives Trade and Position Management function within MSS Operations and is located in Canary Wharf, London.
The opening is within the G10 Rates sub-team which is primarily responsible for the trade capture and life cycle management of all G10 Interest Rate Derivative transactions.
Functions include:

• Timely Trade Capture for Trading and Sales team,


• Real time risk management,


• Trade Data enrichment and repair


• Life cycle event processing,


• Compressions and package processing


• Query management

The team is also:

• Escalation point for Operations teams onshore and offshore.


• Escalation point for Operational issues for FO Business Management, Trading and Sales teams.

This role demands the individual deliver a high level of service. This requires:

• Pro-active engagement with internal and external stakeholders, both regionally and globally.


• Liaison with a variety of teams’ front to back to ensure timely responses to queries & swift resolution of issues.


• Strong communication skills, ability to multi task and work in a pressurised environment and treat all stakeholders with equal respect is essential.


• The individual to have an awareness of the Industry/Regulatory improvements within the Derivatives market, and how that may impact the day-to-day processes.


• A strong risk focus and maintaining a robust control environment.


• The ability to independently identify and drive process improvements, operational robustness and reduce risk


• providing oversight of key operational risk indicators and ensuring appropriate escalation to both sales, trading and operations management where required


• Strong engagement with Technology & Change teams on short/medium terms initiatives, as well as strategic programs.

Principal Accountabilities:
Key activities and decision making areas
Impact on the Business/Function
Creating and leveraging strong working relationships, front to back, regionally and globally, to optimize processes and improve levels of STP, including development of Best Practices with Front Office where appropriate;

• Drive the identification and progression of continuous improvement initiatives to improve processes, working with line management and Change Management and Technology;


• Ability to identify risks and issues and escalate appropriately;


• Work within the Operational capabilities framework and values.


• Provide excellent client service both internally and externally.


• Manage day to day relationship with front to back teams, escalating issues as appropriate and working collaboratively to improve processes and the overall control environment.

Customers / Stakeholders
Front Office, Middle Office, Operations Management, Global Operations Processing and Client service Teams (HUBS and GSC’s), Change, IT, OCRM, External Counterparts, Industry Counterparts, BRCM

Leadership & Teamwork

• Strong team working skills, ability to work closely with and influence a broad range of stakeholders.


• Work cohesively across functional areas and regions and help to strengthen the culture of co-operation.


• Self motivated & organised. Provides clear direction and give justification for decisions made ensuring knowledge is shared and transferred to all team members.

Operational Effectiveness & Control

• Controls (both process and project) are key to meeting respective targets. Equally critical to understand BAU processes to ensure control framework is suitably positioned to meet regulatory or industry requirements


• Promptly raise control and process issues with line management, attend weekly controls meetings and provide appropriate feedback on daily KPIs & KRIs


• Working closely alongside Technology and Operations to ensure successful delivery, communicating effectively with the business via governance meetings.


• Ensuring adherence to FIM / Controls

Major Challenges

• Working in a changing environment with the global teams in the face of increased regulatory framework and targets, and multiple significant industry & internal initiatives.


• Ability to embrace change and drive improvement.


• A proactive and hands on approach to both high level initiatives as well as day to day processing.


• Minimize operational losses and ensure root cause is understood and appropriate action taken to prevent re-occurrence and all issues are escalated appropriately.


• Understanding multiple systems and regulatory initiatives and their impact on front to back.


• Meet demands of new business and processes via the NPDD and TAP process.


• Improve efficiency and/or controls through regular review of existing processes and refine were appropriate.


• Maintaining control of the global booking model to ensure accurate and timely risk capture of client trades and all associated back to back bookings.

Role Context

• The team is dedicated to supporting the G10 Rates Trading and Sales business to provide Middle office support to ensure accurate trade capture & life cycle event management.


• The role will require strong connectivity with the global front office and global operations teams so excellent prioritisation, communication and influencing skills are key as the middle office team are the main point of contact for all booking related queries.


• A good Rates Middle office product background is required, with a sense of urgency and ability to multi task, work unsupervised and under pressure to strict deadlines.


• A strong working relationship with global peers is essential to ensure a consistent operating model is followed.

Management of Risk
The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Observation of Internal Controls

• Maintains internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.


• Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

Knowledge & Experience / Qualifications

• Excellent Product knowledge of IRS is required


• Front to back understanding of Trade Flow, including Trade Capture, Confirmation, Settlements, Compression, reconciliations and Valuations


• Experience of real time risk trade capture into Summit or Markitwire


• Having the ability to adapt to a constantly changing environment and the ability to problem solve


• Excellent written and oral communication skills


• Attention to detail and ability to prioritise appropriately, work under pressure and unsupervised.


• Prior and current understanding and experience of regulatory initatives and programmes of change at an industry level.


• Control focussed with strong awareness of Operational risk, supporting the front to back process.


• Strong focus on root cause analysis with the aim of driving process improvement


• Becoming the main point of contact for trade lifecycle related queries from infrastructure partners such as Trading


• Sales, Operations, Product Control and Market Risk; ensuring a good working relationship is established across all these teams


• Working with wider front to back teams to improve break and query workflow


• Lead process improvements - recognize inefficiencies or gaps, recommend improvements and help implement new processes


• Strong team working skills


• Relevant experience of dealing with senior Front Office stakeholders, preferably from a trading floor environment would be preferential


• Advanced Excel skills and knowledge of SQL would be highly beneficial but not essential.

Job ID IDIBU-21552