Team Leader - Listed Derivative Reconciliation

PRIMARY OBJECTIVES:

- Supervising the completion of reconciliations and resolution of breaks within UK listed derivative operations area.

- Ensuring checklist and procedures are completed by all within team, extensively dealing with reconciliations and trade discrepancies of that particular market / territory.

- Ensuring all critical events are completed in a timely fashion so that deadlines are not missed, ensuring queries of reconciliation breaks are investigated with priority and escalated if necessary.

- Working as part of an operations team around - back office, clearing team and deliveries.

- Strong liaison with exchanges, internal departments - including clearing, middle office, IT and client service areas.

MAJOR ACCOUNTABILITIES/PRINCIPAL RESPONSIBILITIES:

Geographical span: UK

DUTIES:

- Ensuring the timely receipt of both Exchange Files and Sub Ledger Files into the BrokRecs Database.

- Understanding of the detail delivered within the relevant Exchange Files and how these are absorbed into the Reconciliation Processes.

- Understanding the Products traded on each Exchange in order to articulate breaks to the correct stakeholders for resolution.

- Root cause analysis and resolution of underlying manual or failed processes within the Reconciliations Databases

- Understanding the structure of departments for your Stakeholders and the team leads / SME's responsible within those teams for break management resolution.

- Understanding the criticality of completing one reconciliation before another reconciliation, due to Exchange deadlines and internal stakeholder deadlines.

- Being the first point of contact / escalation for the above functions and monitoring to ensure they are comprehensively and professionally performed.

- Ensuring accurate completion of reconciliations and proving out reasons for differences rather than accepting solutions therefore ensuring reconciliation is accurate.

- Providing help and coaching to other team members to raise knowledge levels, ensure consistency, accuracy and keep exposure to an absolute minimum. Issues identified should be escalated as per procedure.

- Ensuring checklist are completed by each team member in a timely fashion.

- Trade discrepancies have to be followed up in a timely manner, and the continual monitoring of longevity of breaks with a view to escalation where necessary.

- Understanding of impacts on clients and downstream departments, minimizing impact of resolution failures on these groups.

- Help to deliver vision and strategy for department to team as per direction from Manager.

- Additional reasonable task as per delegation from management.

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.

SUPERVISION DUTIES:

- Supervision of a team of approximately 3 to 4 reconciliation analysts.

- Establish an environment that promotes respect for the individual employee and adhered to policies and guidelines of the company.

- Work with HR to recruit staff with correct level of expertise and competencies.

- Manage the performance of your team ensuring staff have clear preset objectives and get regular feedback on their performance. Ensure performance appraisals are conducted in line with the firm's policy and standards.

- Provide leadership, direction, advice and guidance to the team, thus maintaining high levels of integrity, motivation and morale.

- Maintain staff competence by ensuring that staff skills and knowledge gaps are met with appropriate training and development, so they are able to perform to their maximum capability and fulfil their potential.

- Initiate actions to further improve your own and the team's skills and performance.

KEY SKILL AREAS & KNOWLEDGE REQUIRED:

- Minimum 3 - 5 years experience in futures and options and knowledge of mechanics of back office.

- Few years- experience necessary in reconciliations.

- Understanding the straight through processing systems, back office books and records processing systems.

- A strong understanding of products and processes on non European exchanges including methods of clearing, give up processes, processing restrictions and opportunities, available data for STP processing via flat files, API and others.

- Strong reconciliations knowledge with basic accountancy understanding.

- Experience in position maintenance, position transfers, closeouts.

- Skills within Excel plus Access.

GOOD TO HAVE SKILLS:

- Experience with clearing against European exchanges + clearing screens - TRS, C21, EUREX, OMNET, IDEM, as well as the use of exchange GUI- s, there should be detailed understanding of the different formats of exchange reports received.

- Previous experience of Clearvision and GMI.

- Experience in handling option exercise, abandons and processing of assignments.

- Experience in workings of listed derivatives in other zones.

- Experience in workings of other asset classes.

BEHAVIOURAL COMPETENCY REQUIRED:

- Detailed thinker

- Team communicator

- Team spirit

- Decision making

- Self motivation

- Taking ownership

FUNCTIONAL RELATIONSHIPS:

INTERNAL: Middle Office, Clearing, Information technology (ITEC), Back office, Client service areas