Senior Commodity Clearing Analyst

Richard James Recruitment Specialists Ltd; Greater London; On-site; GBP 70,000 - 110,000; Full time

Job summary

Richard James Recruitment Specialists Ltd is partnering with a global energy and commodity trading group to recruit a senior Commodity Clearing Analyst for the EMEA Financial Operations team in London. The role covers day-to-day clearing operations across multiple asset classes including oil derivatives, European Power & Gas, metals and FX, with involvement in projects and process improvements.

You will handle intra-day and EOD controls, broker and CCP reconciliations, and provide reporting on

Qualifications

• 5+ years in clearing operations within commodities.
• Experience with oil derivatives, European Power & Gas, and metals.
• Strong knowledge of CCPs, clearing brokers, and trade lifecycle.
• Familiarity with MiFID II reporting requirements.
• Ability to work independently and lead cross-team initiatives.

Responsibilities

• Complete intra-day and end-of-day controls to ensure trades feed to books.
• Manage broker rate agreements and broker setups.
• Respond to ad-hoc requests from Middle Office/desks.
• Perform exchange/CCP and broker reconciliations.
• Report futures expiries and assess expiry day risks.
• Review KPIs to resolve aged items.
• Highlight and escalate risks as needed.
• Collaborate with IT, Credit, Scheduling, Trading, MO, Trade Finance.
• Understand MiFID II requirements and monitor obligations.
• Present business cases for projects to senior management.
• Set up new entities on exchanges and clearing brokers.
• Transfer positions across clearing brokers/exchanges.

Skills

Clearing operations experience

Derivatives product knowledge

MiFID II knowledge

Risk system monitoring

Project ownership

Tools

Openlink/ENDUR

Amphora

ICE Credit Management

ICE Clearing Admin

Job description

Our client is a global energy & commodity trading group; recognised as one of the most exciting and commercially driven Commodity Trading houses in the industry!

Due to team expansion, we are partnering with our client to source an experienced Commodity Clearing Analyst, who will be a senior member in the EMEA Financial Operations team.

The successful candidate will play a key role in the day-to-day functions across the various teams within Clearing Operations as well as being involved in a wide variety of projects and process enhancements. Products covered are varied and include primarily (but not restricted to) oil derivatives, European Power & Gas, Metals and FX.

RESPONSIBILITIES:

• Completing intra-day and EOD controls to ensure all processes are running and all trades are feeding from source to books and records system.
• Experience and knowledge of Brokerage and Broker rate agreements.
• Responding to ad-hoc requests from Middle Office/ desks regarding positions, broker setup requests.
• Exchange/CCP & Broker Reconciliations
• Understanding and reporting listed options and futures expiries to the trading desks and middle office. Being aware of risks around the expiry processes on expiry day.
• Review KPI's on a daily basis to ensure aged items and outstanding issues are resolved in a timely manner
• Ensure that all risk items are prioritized and escalated where appropriate
• Working closely with multiple teams within the organisation and in multiple locations (IT, Credit, Scheduling, Trading, MO, Trade Finance)
• Regulation - Good level of understanding within the MiFID II space to ensure correct monitoring of MiFID obligations.
• To present business cases for self-driven or otherwise, initiatives and projects to senior management.
• Any other tasks as directed by your line manager
• Analyse and develop team procedures in line with market requirements
• Setting up of new entities on exchanges and with clearing brokers
• Transfer of positions across clearing brokers, clearing accounts and exchanges, represented both internally as well as on exchange/clearing broker.

EXPERIENCE REQUIRED:

• Ideal candidate will have 5+ years' experience ideally in clearing operations and Commodities
• Previous exposure to Oil derivatives, European Power & Gas and Metals is a must
• Extensive and proven experience of the Clearing/ Listed Derivatives world and daily interactions with clearing participants.
• Strong derivatives product knowledge, including knowledge of the trade lifecycle of Cleared/Futures trades.
• Good knowledge of various exchanges such as CME and ICE.
• Prior exposure to, and understanding of, CCP and Clearing broker margin call
• Strong system skills (Openlink/ENDUR, Amphora, ICE Credit Management, ICE Clearing Admin)
• Experience of monitoring workflow by reliance on Risk Systems.
• Able to work independently without direct supervision but also happy in working as a team on projects
• Committed to seeing issues through until they are resolved. Also has demonstration of seeking out potential gaps, efficiency savings in processes.
• Project ownership and delivery experience to all levels of management/ seniority
• Conduct due diligence for research projects and investigations of a specialized nature as requested by senior management and external auditors.
• Prior exposure to the setting up of new traders/ clearing accounts on exchanges
• Experience in regulatory reporting requirements such as CFTC Large Trader, ICE GCM, MiFID II is desirable.
• Experience of the commodities physical market would be advantageous.