New York City, NY
The position is within the Commodity Derivative Confirmation Drafting Team, responsible for drafting structured confirmation transactions and assisting in improving Confirmation systems.
Key responsibilities are:
• Drafting and second checking of commodities confirmations for Derivative Transactions under ISDA definitions (2006 and others), including the production of language for the confirmation of bespoke transactions.
• Reviewing the booking in the risk system to ensure the accurate capture of risk.
• Liaising with internal stakeholders in the course of confirming and executing transactions.
• Review and involvement in the improvement of the outgoing confirmation front-to-back process
• Supporting product innovation from a confirmations perspective. Testing system enhancements.
• Standardization and templatization of new products (in liaison with the industry).
• Dealing with and resolving queries from the Retrievals and Trade Support teams.
• Identification of areas with insufficient controls and involvement in implementing relevant changes.
• Involvement in ad hoc process improvement projects.
• Building and maintaining relationships with Sales and Trading, Legal, the Transaction Management Group incoming confirmations group and other internal clients.
• Aid other areas in the building and maintaining of relationships with Counterparties.
• Strong Risk Awareness and the ability to learn quickly and to understand and navigate new systems and processes to ensure guardianship is maintained. Should be able to leverage this attribute across other members of the team.
• A solid understanding of the process and risks associated with the confirmation of multiple Derivatives products and asset classes.
• Good knowledge of ISDA Definitions and the Commodity Derivative market/product suite as well as great accuracy and attention to detail are essential. Prior experience in handling complex products (Interest Rates, FX, Credit, Equities or Rates with preference for Commodity Derivatives).
• Good IT skills with proficiency in Microsoft Word/Excel and the ability to understand and negotiate new systems quickly.
• Ability to consider the impact of own and others actions on other teams/departments involved in the front-to-back confirmations process. Ability to push back on inappropriate requests.
• Ability to multitask and prioritize workload in a high intensity environment.
• Mature and professional individual able to communicate on all levels.
• Teamwork is of great importance where sharing information is key to achieving the team objectives.
• Should be able to train and supervise junior members of the team or outsourced consultants and work with their Manager to ensure they are effectively managed. Ability to assist in managing the daily workload within the team.
• Whilst experience of managing a team is not a requirement, the successful candidate should have leadership potential.
• Good mathematical skills and understanding of formulas would also be benefit.