Manager - OTC Confirmation - BFSI

Looking out for candidate who is currently into Confirmation of OTC or Trade Products and carried an experience of 6+ yeats into the same. Should be currently into managerial role for almost a year.

Daily Role:

Govern daily tasks/ processes

Drafting, Reviewing, Verification of trade queues and Validation of daily trade feeds

Assist in publishing daily/ weekly/ monthly MIS in time

Maintaining Green KRIs/ FED targets

Review & strengthen controls for the processes managed out of Powai

Building relationships with businesses and counterparties to ensure that there is effective escalation

Ensuring timely escalations within the Operations groups and Middle Offices to ensure prompt resolution of exceptions

Understand needs and sensitivities of internal and external clients and proactively ensures these are met

Ensure iCheck List is updated for all daily tasks performed

The candidate should have a good working knowledge of Vanilla Options, Exotic options and Structured products

Knowledge around derivatives products and market terminologies

Conversant with ISDA standards & definitions

Business Unit Overview:

OTC Derivatives Confirmations:

The OTC Derivatives Confirmations group is responsible for the Affirmation, Drafting, Chasing, Indexing and Execution of Confirmations arising from the OTC trading of financial derivatives, in line with International Swaps and Derivatives Association (ISDA) regulations. The group aims to execute confirmations in line with the FED Targets to minimise firm operational risk for all open trades.

The group covers both Structured and Vanilla trading volumes across Equities, Fixed Income and Credit for Europe and Japan.

Verbal Affirmations:

In this process, team verifies the core economics of a trade between Counterparties/ clients via email / telephone to mitigate the risk for the firm. Team is also responsible to timely identify/ raise any disputes/ DK/unrecognised trades to respective front office/ middle office for appropriate query resolution. Follow-back with respective counterparties/ clients to update/ resolve identified disputes.

FED mandate is to affirm all trades within T+5 business days.

Drafting Confirmations:

This activity involves drafting all paper eligible trade confirmations as per ISDA Standards & Guidelines & send to counterparties/ clients. All these legal trade confirmations drafted needs to be in line with front office system bookings. To ensure each confirmation is drafted accurately, we have - Four Eye Checking' in place as a control function in this process.

Team is also responsible to timely identify/ raise any disputes as per Best Market Practices/ Client Specifics for each trade bookings to respective front office/ middle office for appropriate query resolution.

FED mandate is to draft & sent out all paper eligible trade confirmations to counterparties/ clients within:

- T+5 business days for Vanilla trades

- T+10 business days for Structured trades