VP - Income & Expense - Clearing Ops - IB

VP - Income & Expense - Clearing Operations

A leading global investment bank is looking to hire a VP for their Income & Expense team in the clearing operations group.

Job Summary & Responsibilities

- Operations is a dynamic, multi-faceted division that partners with all areas of the firm to deliver banking, sales and trading and asset management capabilities to clients around the world. Alongside this vital service delivery role, Operations provides essential risk management and control, preserving and enhancing the firm’s assets and its reputation.

- Operations span all product lines and markets, serving as internal business partners who develop the processes and controls, and help to specify the systems that deliver accuracy, timeliness and integrity to our business.

BUSINESS UNIT OVERVIEW

- Clearing Operations provides clearing, execution and custody services for all major trading products across 75 exchanges. Our goal is to deliver superior client service, broad product offering and scalable technology to our global client base and franchise trading businesses, while minimizing operational risk. Our clients include hedge funds, asset managers, governments, corporates, broker dealers, franchise traders, other professional investors and market markers.

- Clearing Operations is made up of the following groups: Execution and Clearing, Listed Derivatives, Prime Brokerage and Client Clearing Services

- Critical to our success is our ability to define solutions and lead change across the operational infrastructure by leveraging a global team of team of talented professionals, Listed Derivatives are organized across following 4 functional areas:

Income & Expense (I&E):

- I & E manage key functions critical to controlling processes that have a direct impact on sales revenue. This includes the set up and maintenance of commission, interest & the management of complex tiered memberships across our Exchanges & the impact to associated fees.

Trade Management Group (TMG):

- TMG ensures timely and accurate front-to-end trade process through trade match, allocation, reconciliation, clearing, and various event managements such as corporate actions and expiry of all Futures & Options activities executed on each of the major Listed Derivative exchanges globally. While interacting with various parties such as trading, sales, client service, operations, clients, and exchanges and clearing houses, TMG helps firm and clients to manage risk exposed across all different markets and products. Through the ‘Passing of the book’ model TMG is able leverage its global footprint to provide the firm’s clients & Prop desks with near 24 hour coverage.

Account Management Group (AMG):

- AMG is responsible for ensuring all margin is covered on a daily basis for all futures clients and they are the main point of contact for clients executing and clearing Listed Derivatives. Client interactions include settlements of margin and collateral, resolving cash, trade and commission breaks, expiring contract notifications, Goldman 360 demos, and reconciling foreign exchange transactions. AMG partners with Client Relationship Management to offer strategic clearing solutions for clients.

Control Group:

- LD Control is responsible for managing our T+1 exchange-facing process. This includes margin management, reconciliation of trades, position and cash between the firm’s books and records and our exchanges, clearing houses and brokers, and the critical regulatory process of reconciliation of our open interest. Control also conducts intercompany reconciliations, and margin management, as well as internal reconciliations between our positions-keeping system (GMI / GEMINI) and the firm’s sub-ledgers. Control also has responsibility for the accuracy of our Client Money segregation, and the daily calculation of balances at “good segregation locations”.

We currently have an opening in the Income & Expense Group (I&E)

RESPONSIBILIITES

- The Individual is responsible for processing all standard and many non-standard transactions within a process. The focus of the role is to ensure the accuracy and quality of work and appropriately escalating any unresolved issues to more senior management.

- The Individual typically researches and troubleshoots many problems independently and is expected to take the initiative to identify opportunities for process improvements within their area of expertise. They must develop an understanding of the inter-operability between the processes they work on and other processes in the department.

Specifically the responsibilities of the role will involve:

- Processing, controlling, confirming and settling the firm’s and our client’s transactions to a high quality standard as well as internally generated transactions necessary to conduct business.

- Contributing to the development of the methods to improve processes and controls.

- Obtaining sound understanding of a wide range of financial products and markets as well as broad knowledge of our systems, with emphasis on life cycle, market practices and regulations.

- Responding promptly to client and counterparty inquiries, committing to deliverables as well as undertaking ad hoc investigation and analysis, where this is appropriate.

- Complying with internal controls, policies and procedures and regularly reviewing and updating procedures and training documentation.

- Strong understanding of risk and control mindset

- Excellent interpersonal skills with the ability to interact across management levels and global teams/regions

- Effective leadership style and ability to lead people and projects across the global.

Basic Qualifications

- Demonstrates ability to independently troubleshoot and resolve most common problems that arise.

- Minimum 7 years of experience

- Bachelor’s degree

Preferred Qualifications

- Possesses a good understanding of client types, relevant markets, products, processes, regulations and systems required to achieve business objectives.

- Demonstrates an in-depth understanding of the economics (e.g. cost, workload, …) that underlie transactions or processes being performed.

- Possesses excellent communication skills.

- Proactively seeks and undertakes appropriate training to further enhance client / market / industry knowledge.

INTERPERSONAL TRAITS

- Capability to prioritise and make decision in a fast-paced environment.

- Energetic team player, able to work well inside a group.

- Flexible individual, able to be learn quickly.

Interested candidates can mail their updated resume to nikita.r@vnvconsulting.com