Role details

Associate - Trade Support (OTC Derivatives)

Chicago   •  Permanent

Bullet points

  • Leading financial services firm located in loop
  • Must have prior OTC derivative experience

About Our Client

Our client is a leading international financial services firm located in then downtown Chicago loop.

Job Description

  • Affirmation/Confirmation of all OTC trades on electronic platforms or on paper where required
  • Manage the settlement of swap cash flows associated with OTC products, including unwinds, quarterly fees, resets, and premiums
  • Assist in proper operational reflection of OTC trades
  • Review booking of corporate actions and dividends/coupons to ensure it affects the position and p/l properly
  • Efficiently identify and resolve transaction discrepancies between firm and swap counterparties. Liaison between trading desk, reconciliation and control group, and counterparties to resolve any economic discrepancies on trades in timely, efficient manner
  • Process all aspects of periodic resets for vanilla and exotic IRS, CDS, and Equity OTC products
  • Ensure timely receipt of OTC confirmations from trading counterparties
  • Ensure accuracy of transaction agreements and modifications
  • Work with IT in the development and enhancement of trade entry systems
  • Prioritize time accordingly to action trade breaks by end of day
  • Understand and process trade activity in accordance with established operations policies and procedures; understand and minimize risk associated with trade mismatches
  • Must be able to interact with coworkers and clients in a fast-paced trading environment.
  • Should be intellectually curious, intuitive, and trustworthy and have the highest ethical standards
  • Effectively address a number of internal and external audiences in a professional manner
  • Assist in the training of personal internationally
  • Perform other related duties as required

The Successful Applicant

  • Bachelors degree strongly preferred
  • Two plus years of experience in OTC structured and derivatives products operations including:
    • Experience with the settlement of OTC structured and derivatives products
    • Experience reviewing documentation for OTC structured and derivatives products
  • Proficiency with DS Match, MarkitWire/MarkitTradeManager, and eConfirm platforms preferred
  • Excellent people skills; ability to dynamically act as knowledgeable point of reference to co-workers domestically and internationally
  • Proficiency in Microsoft Word, Excel (ability to create macros)
  • Excellent math and analytical skills
  • Excellent written and oral communication skills
  • Strong organization skills, meticulous attention to detail.
  • Ability to handle multiple tasks under extremely time sensitive conditions
  • Understanding of the various transaction types within each asset class beyond 'vanilla' trades is preferred (e.g. for IRS understanding of caps, floors, swaptions, etc. and for CDS understanding of tranches, recovery swaps, ABS/X, etc.)
  • Understanding of established guidelines and documents published by ISDA is helpful
  • OTC Regulatory knowledge across Dodd Frank, EMIR, ASIC, MAS

What's on Offer

Competitive Base Salary + Bonus + Excellent Benefits

Apply for this job

Click the Apply or LinkedIn button below or contact Damon See quoting job reference 1210968
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