Lead Mechanical Operator

Mars; City Of London; Hybrid; GBP 100,000 - 125,000; Full time

Job summary

A leading multinational organization in London seeks a skilled professional for derivatives support, managing trade flows and exceptions within the Middle Office. The role requires expertise in derivative products like swaps and CDS, alongside experience with clearing processes and strong analytical skills. Candidates must effectively handle tight deadlines and contribute to process improvements. This position offers a competitive salary with hybrid working options and comprehensive benefits package.

Benefits

Competitive starting salary

Discretionary bonus

Non-contributory pension

27 days' annual leave

Core working hours

Virtual GP

Wellbeing benefits

Qualifications

• SME knowledge of derivative products, including swaps and CDS.
• Experience in a Derivative Middle Office capacity.
• Experience in delivering continuous improvements in a Middle Office function.

Responsibilities

• Monitor and resolve exceptions in intra-day reconciliation.
• Manage trade flow and escalate aged items.
• Support business with Compressions to reduce processing.

Skills

Knowledge of derivative products

Experience in supporting cleared flows via brokers

Strong understanding of front-to-back derivative flows

Ability to work under tight deadlines

Identifying risks and ensuring control environments

Tools

Murex

ION

Markitwire

Bloomberg

Duco

Job description

Responsibilities

• Monitoring & resolving exceptions generated in Murex (OSP) & Optic intra-day reconciliation ensuring trade flow completeness and 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 enquiries and clearing issues.
• Responsible for cleared trade flow managing clearing status through direct / indirect CCP relationships ensuring trade and positions are aligned to internal systems.
• Support the business with Compressions, reducing portfolio 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 escalating 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.

Qualifications

• 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 while maintaining the very highest standards.
• Identify risks, ensuring a 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, settlement, compression and valuations.

Benefits

• 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).