Structured Rates Middle Office – Associate

Delta Capita; Greater London; Hybrid; GBP 60,000 - 90,000; Full time

Job summary

Delta Capita in London seeks an Associate for the Structured Rates team within Global Middle Office (GMO) on a temporary contract. You will provide trade management and first-line support to Exotic Rates desks, collaborating with Front Office stakeholders to manage risk and deliver outcomes.

The role offers exposure to complex interest rate products and cross-functional controls across trading, risk, and operations, with a hybrid working setup in London.

Qualifications

• Strong knowledge of structured derivatives in at least one asset class.

Responsibilities

• Provide trade management and first-line support to Exotic Rates trading and structuring desks.
• Carry out structured deal reviews and manage lifecycle of bespoke and structured trades.
• Resolve queries and perform reconciliations promptly and accurately.
• Build and maintain understanding of bespoke and structured products traded and their controls.
• Produce the T0 flash P&L for the desks supported.
• Partner with Front Office, Risk, Finance, IT and Ops to implement and manage policies and controls across the structured products businesses.
• Understand, maintain and enhance processes across product and transaction lifecycle.
• Build and govern frameworks for bespoke and developing business lines.
• Build and own relationships with Front Office and stakeholders to support governance forums and growth.
• Strengthen relationships across GMO teams onshore and offshore to improve collaboration.
• Manage demand and prioritise to deliver CTB and RTB commitments.

Skills

Structured derivatives

Middle office experience

Stakeholder management

Communication skills

Python/SQL/Power BI (preferred)

Tools

Python

SQL

Alteryx

Power BI

Job description

Description

The Opportunity

A leading global investment bank is looking for an Associate to join the Structured Rates team within its Global Middle Office (GMO) in London on a temporary contract. You will provide trade management and first-line support to the Exotic Rates trading and structuring desks, working closely with experienced and senior Front Office stakeholders to manage risk and deliver the best outcomes for the business. The role offers broad exposure to complex interest rate products and to the many functions that support the structured products businesses.

About the Team

Global Middle Office controls and supports a broad range of trading desks and products. It is a dynamic, fast-paced and collaborative environment with direct exposure to senior management, and the function is committed to building a best-in-class support and control capability in London.

The Structured Rates Middle Office supports the Structured Rates, Vanilla Options and Quantitative Investment Strategies trading desks, which trade a full suite of complex interest rate trades and strategies. The team is central to all activity on these desks and works regularly with Trading, Structuring, Sales, other Operations teams, Product Control, Model Validation, Quantitative Analytics and Risk Management.

Requirements

Key Responsibilities

Trade Management and Lifecycle

Provide trade management and first-line support to the Exotic Rates trading and structuring desks.

Carry out structured deal reviews and manage the lifecycle of bespoke and structured trades.

Resolve queries and perform reconciliations promptly and accurately.

Build and maintain a deep understanding of the bespoke and structured products traded and their specific control and support requirements.

P&L and Reporting

Produce the T0 flash P&L for the desks supported.

Controls and Governance

Partner with Front Office, Risk, Finance, IT and Operations to make sure policies and controls are implemented and managed across the structured products businesses.

Understand, maintain and enhance processes, drawing on your knowledge of the product and transaction lifecycle.

Work with Front Office and other control functions to build control and governance frameworks for bespoke and developing business lines.

Stakeholders and Change

Build and own key relationships with Front Office and other stakeholders, contributing to stakeholder governance forums to support business innovation and growth.

Strengthen relationships across functions and with GMO teams onshore and offshore to build consensus and improve collaboration.

Manage demand and prioritise effectively to deliver on both change-the-bank (CTB) and run-the-bank (RTB) commitments.

Skills and Experience

• Strong knowledge of, and experience in, structured derivatives in at least one asset class, with the ability to understand complex financial products and structures.
• Experience in a middle office or equivalent control function.
• A deep understanding of investment banking products and processes, with a track record of process improvement and a high level of attention to detail.
• The ability to balance competing demands and think holistically about process change.
• Strong communication skills, with the ability to build relationships and challenge stakeholders appropriately.
• Agility and a willingness to adapt positively to changing priorities, with the ability to lead and inspire peers and direct reports.
• Comfortable in a hands-on, trader-facing role, providing close day-to-day support to the trading desks.
• Markit Wire experience, including agreeing trades bilaterally with clients and ensuring they are booked and fed into risk books promptly.
• Structured Rates experience across products such as swaptions, callable, callable notes and American options, particularly those with time-critical lifecycle events.
• A self-starter who can think quickly under pressure and contribute independently.

Preferred

• Knowledge of digital tools or programming languages such as Python, SQL, Alteryx or Power BI.

How We Work:

Delta Capita is an equal opportunity employer. We positively encourage applications from suitably qualified and eligible candidates regardless of age, colour, disability, national origin, ancestry, race, religion, gender, sexual orientation, gender identity and/or expression, veteran status, genetic information, or any other status protected by applicable law.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. If you require any reasonable adjustments through your interview process, please use the designated space within the application questionnaire.

This is a temporary contract position located in London with hybrid working. For this role a valid working permit for the UK is mandatory.

Expectations regarding hybrid working:

As we are a Service Provider and Consulting firm servicing clients, our policy for physically working from the office (which may be the clients' offices or our own offices depending on the client) aligns to what our clients' policies and expectations are and these vary. Most of our clients now require a minimum of 3 days per week in the office, 2 days from home, and accordingly this is also the minimum expectation that Delta Capita require. However, some of our clients have now moved up to 4 days and even 5 days in the office and we require candidates to be flexible to meet our client demands.

Who We Are:

Delta Capita Group is a global managed services, consulting, and solutions provider with a unique combination of experience in Financial Services and technology innovation capability. Our mission is to reinvent the financial services value chain providing technology based mutualised services for financial institutions for non-differentiating services.

Our 3 offerings are:

• Managed Services
• Consulting & Solutions
• Technology

To know more about Delta Capita and our culture click here: Working at DC - Delta Capita