Derivatives Operations Support - Associate

Mizuho; England; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A financial services company in the United Kingdom is seeking a Middle Office professional to ensure trade accuracy for various derivative products. Responsibilities include monitoring exceptions, completing reconciliations, and ensuring compliance with regulatory standards. The ideal candidate has strong knowledge of derivative flows and prior experience in an investment banking environment. This role offers a competitive salary, hybrid working opportunities, and attractive perks such as a non-contributory pension and 27 days' annual leave.

Benefits

Competitive starting salary, plus discretionary bonus

Non-contributory pension

27 days’ annual leave

Core working hours

Hybrid working

Virtual GP

Wellbeing benefits

Qualifications

• SME knowledge of Derivative products, including cleared and bilateral swaps, Swaptions.
• Experience supporting cleared flows via brokers or direct memberships of CCPs.
• Strong understanding of front-to-back Derivative flows, from trade booking to settlement.

Responsibilities

• Monitor and resolve exceptions in trade reconciliation.
• Manage trade flow exceptions, escalating aged items.
• Complete system reconciliations and escalate unresolved items.

Skills

SME knowledge of Derivative products

Experience with brokers or CCPs

Strong understanding of front-to-back Derivative flows

Ability to work under tight deadlines

Risk identification and control

Experience in Investment Bank

Continuous improvement mindset

Tools

Murex

ION

Markitwire

Duco

Trading Venues (Bloomberg, Tradeweb)

Job description

Profile Summary

To provide Middle Office support to the Derivative business, ensuring trade accuracy and completeness in front-to-back systems. Cleared & bi-lateral products supported include IR Swaps, FRAs, FX Swaps, NDFs, CDS, TRS and Convertible Bond Options. Working within a team of 5 people.

Duties And Responsibilities

• Monitoring & resolving exceptions generated in Murex (OSP) & Optic intra-day reconciliation ensuring trade flow completeness / accuracy.
• Timely management of these exceptions in trade flow, with appropriate escalation for aged items.
• Responsible for completion of system reconciliations, break resolution and escalation of any unresolved items.
• Monitoring both the TradeServ and Markitwire affirmation platforms to ensure data is captured and confirmed accurately.
• Timely response to Front Office enquires and clearing issues.
• Responsible for cleared trade flow managing clearing status through direct / in-direct CCP relationships ensuring trade / positions are aligned to internal systems.
• Support the business with Compressions, reducing portfolios managing processing through tri-optima or via clearing broker relationships.
• Allocation of ASCOT trades in Front Arena and associated tasks. Ensuring trades are accurately represented in Murex.
• Execution of OTC ISDA Confirmation both incoming and drafting process adhering to internal and external driven targets.
• KRI and Risk Reporting, ensuring our metrics capture Key Risk Indicators and elevate emerging risks appropriately.
• Assist with the evolution of the Derivatives Support function, evaluate the go-forward operating model and enable new business initiatives.
• Work closely with technology, establish required system enhancements, drive prioritisation and plan / manage change for the function, raising required JIRAs and following changes through to delivery.
• Contribute towards simplifying any complex, inefficient processes and show demonstrable improvement.
• Ensure the regulatory responsibilities are understood with processes and controls established to ensure compliance.
• Clear and timely escalation of any issues to management, ensuring any risks are fully understood.

Role Experience

Qualifications, Skills and Experience

• The role requires SME knowledge of Derivative products, including cleared & bilateral swaps, Swaptions, CDS, CDS Index Options & ASCOTs.
• Experience in supporting cleared flows via brokers or direct memberships of CCPs.
• Strong understanding of front-to-back Derivative flows, from trade booking to life-cycle management and settlement.
• Able to be flexible and work to tight deadlines but maintain the very highest standards.
• Identify risks, ensuring robust control environment and high operating standards.
• Equivalent experience at an Investment Bank, working in a Derivative Middle Office capacity.
• Experience in delivering continuous improvement in a Middle Office function, improving control environment and efficiency.

Technical Experience

• Knowledge of Derivative products, including TRS, CDS, Swaps, NDF, FRAs & Convertible Bond Options and associated processes, controls & regulation.
• Exposure to Murex Middle / Back Office, ION, Markitwire, Duco.
• Worked with Trading Venues, such as Bloomberg, Tradeweb.
• Good understanding of cleared trades processing, including JSCC, Eurex and LCH.
• Front to back understanding of Derivative Trade Flow, including Trade Capture, Confirmation, Settlements, Compression and Valuations.

What Mizuho Can Offer You

Here at Mizuho, there are fantastic progression opportunities and clear paths to promotion. We will give you ample opportunity to affect change and to help grow our business.

In addition to the great opportunity outlined above we are also currently able to offer :

• Competitive starting salary, plus discretionary bonus
• Non-contributory pension
• 27 days’ annual leave
• Core working hours
• Hybrid working - office and home based
• Virtual GP
• Wellbeing benefits, including Mental Health Allies and First Aiders
• For applicable roles only

At Mizuho, we embrace flexible ways of working when the role permits. We offer different working arrangements like part-time, job-sharing and hybrid (office and home) working. Our purpose-led culture and global infrastructure help us connect, collaborate, and work together in agile ways to meet all our business needs.

We are committed to supporting equality and diversity, and seek to create a workplace that is fully inclusive. We welcome applications from all sections of the community that we operate in and from all ethnic backgrounds, sexual orientation, beliefs, gender identities and disabilities.

If you require more information about our equal opportunities policy or wish to discuss any accessibility requirements or reasonable adjustments please contact the recruitment team – [e-mail] and we will be happy to help.