Our Client is a global energy & commodity trading group, with offices worldwide in over 45 countries.
Working as part of the Financial Operations team the successful candidate will be responsible for Trade Confirmation of all confirmable deals within acceptable deadlines, in line with business transaction procedures, covering a variety of products including oil derivatives, European Power & Gas, Metals and FX. The role will also involve project work outside of BAU in order to enhance various systems and processes.
- Ensure that all generated confirmations are dispatched in a timely manner
- Drafting of confirmations from scratch
- Ensure that all in-bound broker and counterparty confirmations are checked against GE records on the day of receipt.
- Ensure that all checked confirmations are updated as being received on the confirmation tracking list on the day of receipt.
- Ensure that all "out trades" (whether internal or 3rd party error) are recorded on the appropriate spreadsheet and that an incident report is written up and circulated to Middle Office Management as appropriate.
- Ensure that all outstanding confirmations are chased on a regular basis and in a manner that can be evidenced.
- Understanding of REMIT to ensure correct monitoring of REMIT trade submission exception
- Ensure that all risk items are prioritized:
- Where no confirmation has been received from either party for brokered trades.
- Where no counterparty confirmation has been received for unbrokered trades.
- Where positions have an in the money market to market value.
- To be in a position to demonstrate /detail actions taken on all unconfirmed positions to allow Middle Office Management to accurately assess risk and to escalate situations with The Front Office as appropriate and accurately brief executive management to relevant exposure.
- Production of daily confirmation MIS, with analysis of mismatch issues.
- Any other tasks as directed by your line manager.
- Establish key relationships with other counterparties & brokers to facilitate the resolution of confirmation issues
- Analyse and develop team procedures in line with market requirements
- Setup and maintain instrument and market static data
- Current work-based confirmations experience is essential.
- Extensive and proven experience of drafting confirmations from scratch
- Excellent numerical skills
- Strong system skills (Openlink/Endur, eConfirm, EFETNET, Morcom, FXALL)
- Previous exposure to Oil derivatives, European Power & Gas and Metals is a must
- Strong derivatives product knowledge
- Experience of monitoring work flow by reliance on Risk Systems.
- Able to work independently without direct supervision but also happy in working as a team on projects.
- Committed to seeing issues through until they are resolved.
- Conduct due diligence for research projects and investigations of a specialized nature as requested by senior management and external auditors
- Financial Operations
- Oil derivatives
- Power & Gas