Specialist: Derivatives Clearing (Contract)

Isilumko Staffing; South Africa; On-site; ZAR 400,000 - 600,000; Full time

Job summary

Isilumko Staffing is seeking a Derivatives Clearing Specialist to manage client queries and oversee financial risk within the JSE trading platform. You’ll be responsible for ensuring daily settlements, monitoring client exposure, and engaging with stakeholders effectively.

The position requires a strong background in financial markets, with a minimum National Diploma and experience in risk management. This role is crucial for supporting offshore clients and maintaining market integrity.

Qualifications

• 3-4 years' experience in Financial Markets and/or Derivatives Markets.
• 1-2 years' experience in Risk Management ensuring risk mitigants are applied.
• Knowledge of Corporate Banking and transactional products.

Responsibilities

• Manage client queries and provide client service.
• Perform daily cash settlements and transfer instructions.
• Engage with clients and stakeholders for effective operation.

Skills

Client service and query management

Risk management

Settlement of daily JSE margin calls

Monitoring client exposure

Clearing of products across markets

Education

National Diploma in Financial Markets

Degree in Business Commerce, Business Management, or Economics

Tools

Derivatives trading platforms

Job description

Overview

Job Description: Our primary service offering to clients is to clear, settle and report on Exchange Traded Derivative contracts traded on the JSE platform. Derivatives Clearing Specialists are responsible for:

Responsibilities

• Client service and query management
• Risk management
• Settlement of daily JSE margin calls
• Monitoring of client exposure against available funds
• Clearing and understanding of products across different markets
• Commodity Derivatives
• Equity Derivatives
• Interest Rate and Currency Derivatives
• Acceptance and allocation of derivative trades from interdealer brokers on behalf of offshore clients
• Shift rotation according to different market closing times
• Operational duties as described in more detail below
• Process daily cash settlements and transfer instructions
• Engagement with clients and stakeholders
• Balancing the daily JSE derivatives clearing markets and electronic reporting
• Reconciliation of daily trade data
• Position and deal management
• On boarding of clients
• Reconcile internal Derivatives Clearing cash account (house account)
• Month end processes
• Attend and resolve client queries, requests and instructions
• Prepare payment for physical deliveries on commodity market and email notices to clients

Qualifications

• Minimum qualification: National Diploma in Financial Markets
• Preferred qualification: Degree in Business Commerce Business Management or Economics or relevant qualification

Other Preferred qualifications, certifications or professional memberships

• South African Institute of Financial Markets (SAIFM)
• Introduction to Financial Markets Regulation and Ethics of South African Financial Markets
• The Derivatives Market
• The Equity Market
• The Bond Market
• The South African Foreign Exchange Market
• The South African Money Markets
• Agricultural Products Dealers Exam Internal Training

Experience

• Corporate Banking (Transactional Products and Services) 3-4 years’ experience in Financial Markets and/or Derivatives Markets
• Risk Management (Transactional Products and Services)1-2 years’ experience in understanding client exposures and ensuring risk mitigants are adequately applied, failing which appropriate action required to manage collateral deficits

Preferred Experience

• Corporate Banking, 3-4 years in relative market experience specific to derivative markets offered by the JSE, general understanding and operationally driven