Breaks Management Analyst - Listed Derivatives Clearing

Job description

Environment

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like “hard work” and “dedication” together with “community” and “respect” has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.

Descripotion of Business Line:

Breaks Management Analyst working in the European Clearing Centre (ECC), in the listed derivatives clearing area, with the main focus being on Breaks Management mainly on European Exchanges but also on offshore markets cleared by our Newedge affiliates- Working in a high volume environment, the emphasis is on total quality clearing ensuring all downstream impacts are kept to an absolute minimum and the service to the client is second to none.

Mission

Summary:

• Swift and accurate resolution of internal reconciliation breaks between SGNUK and CCP's.
• Swift and accurate resolution of trade breaks between SGNUK and Clients.
• Completion of Position management for SGNUK on CCP.

Responsibilities:

• The role will be within SG Newedge UK (‘SGNUK') Listed Derivatives back office, concentrating specifically on European exchanges where SGNUK holds General Clearing membership: LME, ICE Europe, EUREX, NASDAQ OMX, EDX, IDEM, MATIF, MONEP, BELFOX, AEX, Lisbon, MEFF (via Altura Markets),
• The role will be within SGNUK Listed derivatives operations, main focus on break investigations and resolutions on all European Exchanges, but will also include offshore markets queries resolution.
• Following procedures and checklists as defined by manager.
• The role will encompass the resolution of breaks from reconciliations and Client reported breaks and requires a meticulous approach / dealing with trade discrepancies of that particular market / territory.
• To complete root cause analysis on breaks so to identify why the breaks occur and then work with the other department to resolve going forward.
• The role will involve processing all closeouts on European exchanges and some exchange reporting.
• Working in a team of 6 people, with specific shifts arrangements (needs coverage between 7am until 7pm), and will sit alongside the Reconciliations, LD Clearing and Deliveries departments.
• Liaison with exchanges, internal departments – including clearing, middle office, IT and client service areas.
• Escalation of all issues, concerning unresolved breaks both trades and financial, plus also in concern to requests for guidance concerning a particular task or procedure.
• Resolving trade breaks and kerb trades ensuring all exposure for SG is kept to an absolute minimum.
• Complete root cause analysis and report findings
• Completing checklists in a timely fashion and performing functions according to procedures.
• Understanding of impact on clients and downstream departments, minimising impact of resolution failures on these groups.

Delegated responsibilities

• Only tasks defined in teams SOP will be delegated.

Evolution

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Societe Generale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.

Desired profile

Profile

Competencies and work experience:
• Experience in a derivative clearing department, preferably T0 clearing and/or Breaks Management.
• Sound knowledge of Futures and Options
• An understanding of back office processing systems and middleware.
• Good problem solving skills
• Keen to learn, inquisitive nature, meticulous, motivated individual.
• Good team skills to work part of growing team
• Familiar with Microsoft Excel.
• Familiar with Microsoft Word.
• Familiar with Lotus notes and Internet browsers.
• Familiar with GMI.
• Knowledge of listed derivative systems such as Clearvision

Education:
Minimum UK GCSE or equivalent.