Listed Derivatives Reconciliation

Job description

PRIMARY OBJECTIVES:

The purpose of this position is to ensure Newedge has reconciled for all North American & Foreign exchanges. Any Daily assignments have run and Client Services Teams have been notified before the floor opening. Advise Regulatory Reporting Team of any breaks related to open interest reporting.

Working within Operations Control team, Regulatory reporting team, Foreign Affiliates for domestic markets, Trading desks, Clearing Services Dept. Clearing Dept, Client Serves Dept., Chicago Clearing Firms, Delivery department NY & Chg, NUSA Treasury.

MAJOR ACCOUNTABILITIES/PRINCIPAL RESPONSIBILITIES:



Geographical span: NA

DUTIES:

· Balance OTE and positions for domestic markets using Brokrec balancing tool. These markets include the following exchanges CME, CBOT, NYMEX, COMEX, ICEUS, ELX, VIX, ONECHICAGO, MGEX, Sequestered Products and IRS.
· Balance OTE and positions for foreign markets using Brokrecs and AMR.
· Resolve trade breaks- liaise with foreign affiliate or carrying broker, internal departments and other firms to resolve discrepancies.
· Position management - maintain accurate open positions in clearing accounts at affiliates or carrying brokers.
· Reconcile Execution accounts.
· Distribute and maintain balancing reports in AMR.
· Liaise with Finance department regarding cash breaks.
· Relay adjustments/exercise/assignment, to SME / Chicago Breaks Analyst in a timely manner so they may inform clients and customer services.
· Work with SME / Break Management team to resolve trade breaks and working with exchanges, internal departments and other firms to resolve discrepancies.
· Work with the Regulatory Reporting team on Open interest reporting /position management.
· Work with SME / Breaks Manage on any T+3 breaks so they are escalated and reported to management.
· Work with SME / Breaks Analyst to resolve pending allocations on exchange portal from execution account breaks.
· Store all reconciliation and exchange documents in shared drive.
· Assist with any testing required for reconciliation
· Document Storage

OPERATIONAL RISK & REGULATORY RESPONSIBILITY:

· Responsibility of ensuring that you are fully aware of and adhere to internal policies that relate to you, your business or other businesses for which you have any level of responsibility. It is your responsibility to ensure compliance with operational risk requirements (e.g. golden rules, security policies and regulatory requirements)
· Responsibility for managing, controlling, preparing and escalating risk within the scope of your position.
· Responsibility for reading, understanding and complying with the company's conduct, standards and corresponding regulations. You will be notified of changes to policies in a timely manner through announcements / intranet updates.
· Act with integrity and due skill, care and diligence in carrying out your duties. Your action should always be able to satisfy high standards of scrutiny.
· Observe proper standards of market conduct. Responsibility to ensure that you take reasonable steps to be fully aware of, understand and fully comply with all regulatory requirements and from all regulatory bodies that are applicable to your business.

KEY SKILL AREAS & KNOWLEDGE REQUIRED:

· Minimum 1 – 3 years experience in derivative reconciliations.
· Sound knowledge of futures and options and mechanics of back office.
· Understanding of back office processing systems and middleware.
· Experience in reconciling against clearing agents - either affiliates or carrying brokers.
· Experience in reconciling against clearing agents - either affiliates or carrying brokers on non European markets.
· Familiar with common desktop applications such as Microsoft excel, word, Outlook and internet browsers.
· Meticulous, discipline and possess good working attitude.
· Able to handle work pressures and adhered to deadlines.
· Able to work in non-standard working hours.
· Good problem solving skills.
· Keen to learn, inquisitive nature, meticulous and motivated individual.
· Good team skills to work part of growing team and good communication skills.

BEHAVIOURAL COMPETENCY REQUIRED:

· Detailed thinker
· Team communicator
· Team spirit
· Decision making
· Self motivation
· Taking ownership