Emea Xva/cross Asset Solution, Risk and Pnl Middle - London, United Kingdom - WELLS FARGO BANK

WELLS FARGO BANK

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

The EMEA Middle Office team belongs to the EMEA CIB Operations team, which covers Middle Office (Trade & Sales Support), Transaction Reporting, Settlement, and Client Onboarding.

The Middle office team works closely with Front Office (Sales & trading teams), and our partners from other support functions e.g.

Settlements / Client Onboarding teams on a daily basis.

The role requires making sure all activities are booked in a timely manner, performing trade enrichment where necessary, ready for good settlement.

There is a strong focus on risk reporting and PnL explanations on vanilla and complex products, with a constant and close interaction with our front Office partners.

The role also includes working closely with Finance, Compliance, Risk teams, Client Money, COO Teams and other Operations and global Middle Office teams regularly.

The Middle Office Function is a control function, and it is imperative that all team members' work in a controlled manner to manage risk and follow procedures.

We are a function that is very sensitive to Operational Risk and Audit. Answering accurately to internal (from Internal Audit or other control functions) or external (from regulators) regulatory inquiries is a key part of the function

They will also work with Technology and other Middle Office teams globally on global projects and process improvements and cover other MO teams (London mostly) when required.

(Note:
In addition to these functions team members may be required to carry out other duties to support the Business/Firm)

Provide full trade support cover for all traders/sales teams in a controlled manner by following all MO procedures
Good knowledge on Fixed income derivatives: Rates swap / CDS / FX and also FX option and Rates Swaptions
Intraday Risk and P&L reporting, investigation of discrepancies between reported and posted P&L.
Trade capture of inscope derivatives for XVA Risk and NPV, lifecycle maintenance and production of PnL and Risk impacts on daytrades
Trade Capture of hedge trades executed by the desk to manage market risk associated with the XVA business
Production and review of Start of Day Market Risk for Trading to risk manage from and generate PnL attribution from at End of Day
End of Day PnL production and attribution on portfolio, result validation with Traders, and investigation of discrepancies
Ownership of operational controls on XVA portfolio and corresponding reconciliations
Key Partner to other control and operations functions including Market Risk Oversight, Enterprise Capital Risk Management, Finance and Technology
Project leadership on transformational work in XVA space to meet business needs, and changing regulatory requirements
Understanding of Market Linked Notes and SPV Repack booking process
Act as the link between business requirements and technology solutions.
Participation in system upgrades / testing
Liaise with Risk and Product Control Departments to resolve any discrepancies between Middle Office and other reports produced elsewhere
Have a high level of attention to detail to ensure all trades checked before verified on trade date.
Ability to work with team members and business partners across the bank
Contact teams internally or externally (ie the client) to solve in a timely manner any break or issue that may appear on a trade
Monitoring of daily trading exception reports
Resolution of trade queries
Run, analyze and solve breaks of front to back reconciliations
Work closely with Settlements/Payments functions
Project work/Ad hoc management requests
Enhancement of the control framework around the daily processes.
Maintenance and enhancement of governance documents (e.g. Process flows and procedures).
Fact finding for any issue and help escalation to Management
Ensure all Initiatives are captured on the teams BOW and is updated.
Team player and must show flexibility for working early morning or late shifts.

Skills/Experience Required:

Previous experience of working in XVA or Exotic rates/credit as Middle Office or PCG role
Knowledge on systems Calypso, Catalyst will help
They must be analytical with strong verbal and written communication skills.
Understanding of trade lifecycle across the Rates and FX, Credit (CDS) and Cash products (bonds)
Ability to work across multiple regions.
Must have advance Excel skills and coding skills (VBA/ Python) experience
Confident and the ability to work under pressure of a trading floor and deliver on strict deadlines
Good interpersonal and networking skills to help close out issues.
Experience of change management.
High level of attention to detail
The ability to operate and enhance the team to work in a highly controlled manner and ensuring all processes/procedures are documented
Proactive and the ability to take ownership and lead initiatives/projects to close
Team Player with good communication skills and demonstrate a high level of transparency tow