STMF Middle Office Manager

STMF Middle Office provides a full and dedicated support to the Short Term and Financial Markets (STMF) business. The nature of this of support requires strong multi-faceted individuals who are able to understand the lifecycles of the products traded, the systems and reporting mechanisms required to enable full control of the business. STMF covers all forms of financing transactions from Money Markets and Treasury to Asset Liquidity Management and FX to ensure the smooth running of the banks cash management and liquidity. Our clients include hedge funds and banks.

The individual will be required to establish close working relationships at all levels with STMF Front Office and all Support areas. These will include, Credit Risk, Finance, Market Risk, Legal, IT, Settlements, and Confirmations - allowing for an integrated and proactive approach to the business' requirements.

Leadership qualities will be expected, and should be displayed as an example for others to follow. Detailed knowledge of the front to back processes required to maintain a stable and controlled trade environment will be a necessity, as ensuring that all audit and control points are addressed for both existing and new products will be a main responsibility

We are about to embark on a major investment spend to transform the TRS platform front to back for all asset classes including the Loan and Bond TRS business. You will be expected to be the primary face off for the STMF middle office assisting the project team in testing and delivering the new operating platform. Therefore previous project experience will be a major advantage.

As line Manager of the team, the individual must have sufficient managerial experience to ensure that this change in operating model has zero impact on client relations, efficiency, control standards, and can effectively manage people in more than one location

Essential Experience

Technical and Banking Knowledge
Ability to understand and book vanilla and Derivative products:
* Credit Default Swaps (CDS)
* Total Return Swaps (TRS - Loan and Bond)
* IRS
* Term Loan/Deposits

Ability to understand loan markets and products such as:
* Term Loans (prime and float)
* Letter of Credit
* Mezz - PIK
Thorough knowledge of cash bonds and repos and their settlement process:
* ABS
* Government
* Corporate
Good understanding of Docs
* ISDA
* GMRA
* LMA/LSTA
Knowledge of Collateral processes, Initial Margin, Variation Margin, general CSA
Knowledge in Accounting, able to easily identify impacts to P&L and Balance Sheet as a result of trading or bookings
Understand the key elements of other infrastructure groups i.e. Finance, Market risk, Credit risk, Operational risk, Legal, Tax and Compliance
Strong IT system skills, highly proficient in Excel

Control Function
* Business focus is on improved controls at every level
* Ensure timely validation and affirmation of all trades in the business
* Ensure all reconciliations and reports in the area are complete and signed off on a timely basis e.g. internal deals, exercise reports, and corporate actions
* Responsible for the integrity of underlying assets, trade booking, trade maintenance and appropriate reconciliations
* Completion of EOD process including completeness and reconciliation checks
* Maintenance and development of the control environment to minimise losses by eradicating errors and avoiding reputational risk
* Analyse trading patterns and behaviour to the support business and to help identify/escalate potential fraudulent or unusual trading activity

Trader Support and Customer Service
* Work closely with other Operation functions and other infrastructure groups to support a 'one team approach'. Seen as a centre of excellence and pivotal communicator
* Close liaison with external customer, need to enhance relationships, it's a service role and this is critical
* Ensure appreciation of different support requirements for Traders, Salespersons, and Structuring teams

Communication
* Strong requirement on building relationships with all areas of interest, all the more critical given the varying locations and lack of face to face interaction
* Build close and open working relation between EOC and LDN MO, daily interaction
* Clear and concise communication with all support teams to ensure the timely and efficient dissemination of information and the resolution of queries arising, particularly the Loans Admin Unit
* Ability to ask probing questions to gather information from a variety of sources and disseminate efficiently
* Where appropriate, ability to maintain own position and use logic in the light of differing views
* Provide support to Operations in overseas offices as required
* Support and aid the development of frequent MIS reporting capabilities. This is to assist performance measurement, cost effectiveness and ensure appropriate timely escalation.

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