TRS Operations SME (Calypso)

G MASS Consulting; Greater London; On-site; GBP 90,000 - 130,000; Full time

Benefits offered by this job

6-month contract

Job summary

G MASS Consulting is working with a leading global financial services organisation to identify an experienced Total Return Swaps (TRS) Operations SME to support the establishment and ongoing operation of a new in-house TRS capability.

The role requires hands-on delivery to define the operating model, establish robust processes, and run the function once live, bridging between operations, technology and business stakeholders.

Qualifications

• Strong experience in Total Return Swaps / Equity Derivatives Operations.
• Proven experience managing or supporting BAU TRS operations.
• Hands-on experience working with Calypso.
• Strong understanding of front-to-back derivatives processes.

Responsibilities

• Establish and operationalise an in-house TRS operations function.
• Define the target operating model, workflows, controls, and governance for TRS activity.
• Provide SME expertise across the full TRS lifecycle: trade capture, settlements, lifecycle events, reconciliations, cash flows, collateral, and exception management.
• Translate business requirements into practical operational processes within the Calypso environment.
• Collaborate with technology teams and implementation partners to ensure platform supports operational needs.
• Create and maintain operating procedures, process documentation and control frameworks.
• Support transition away from the current outsourced model.
• Take ownership of BAU TRS operations once established, ensuring processes run smoothly and issues are managed.

Skills

TRS operations

Equity derivatives

Calypso

Tools

Calypso

Job description

G MASS Consulting is working with a leading global financial services organisation to identify an experienced Total Return Swaps (TRS) Operations SME to support the establishment and ongoing operation of a new in-house TRS capability.

Our client is standing up new capability, and working with an external managed model. They are looking for a hands-on TRS specialist who can help define the operating model, establish robust processes, and play a key role in running the function once live.

This is not a purely project-based role. The successful candidate will be responsible for helping build the foundations of the TRS operating model, whilst also supporting the day-to-day BAU operations and acting as a key SME within the function.

The Role

As the TRS Operations SME, you will support the transition of TRS activity into an internal operating model, combining process design, operational expertise, and hands-on delivery.

You will work across operations, technology, and business stakeholders to ensure TRS processes are designed effectively, implemented successfully, and supported operationally.

Key responsibilities will include:

• Helping establish and operationalise an in-house TRS operations function
• Defining the target operating model, workflows, controls, and governance required to support TRS activity
• Providing SME expertise across the full TRS lifecycle, including trade capture, settlements, lifecycle events, reconciliations, cash flows, collateral, and exception management
• Translating business requirements into practical operational processes within the Calypso environment
• Working with technology teams and implementation partners to ensure the platform supports operational needs
• Creating and maintaining operating procedures, process documentation, and control frameworks
• Supporting the transition away from the current outsourced model
• Taking ownership of BAU TRS operations once established, ensuring processes run effectively and issues are managed appropriately
• Acting as the point of expertise for operational queries, process improvements, and ongoing enhancements

Requirements

• Strong experience within Total Return Swaps / Equity Derivatives Operations
• Proven experience managing or supporting BAU TRS operations
• Hands-on experience working with Calypso
• Strong understanding of front-to-back derivatives processes
• Experience defining, improving, or implementing operational processes
• Ability to work across business and technology teams
• A practical, delivery-focused mindset with the ability to move between process design and execution

Desirable Experience

• Experience bringing outsourced operations in-house
• Experience working within brokerage, banking, or capital markets environments
• Previous involvement in operational transformation or platform implementation activity

Benefits

Initial 6-month contract, with view for further extension.

Salary to be discussed.