Credit Trade Support - European Investment Bank

The role fall within the GMO Credit / Compressions & Clearing Trade Support

Credit Flow products

The trade support ensures that Credit Flow transactions registered in the books under CIB ITO's mandate match the commitment taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or the contractual agreements. The main covered processes for these transactions include booking, validation, transaction event related follow-up validation through a secure framework.

The trade support is accountable for:

• Transaction events follow-up and validation during the whole lifecycle of the deal;
• Applying and respect the A/C CIB Policy;
• Implementing the relevant controls ensuring the accuracy of the transactions on the official books & records systems;

Credit Structured products

Product Control ensures the “Trade support” functions in terms of trade capture (or amend/cancel) and trade validation where the process cannot be considered as flow and product oriented for Exotic products.

• Coordinates operations and other functions in the set-up of new complex montage and during their lifecycle in order to ensure
  • Proper settlement of the operations vis a vis the client
  • Proper calculation of the economic P&L
  • Compliance with accounting rules
  • Proper production of the accounting in relation with Finance

• Ensures the booking validation of exotic products (booked with FOCUS FLEX) vs Term sheet, legal or similar documentation at inception and during their lifecycle.

• Accountable for the independent validation of the booking at deal inception, or during the lifecycle. (Except in some cases where no “template” or pre-defined guidelines exist, GRM is responsible for this validation)
• Responsible for amendments (where the application of the amend/cancel policy defines that operations are in charge of it) and for getting FO validation. Amendments can be due to trade life cycle or to error corrections.
• In particular accountable for the control of the valuation models used for exotic products, per guidelines validated with the business and GRM.

CREDIT TRADE SUPPORT RESPONSIBILITIES

• Management of flow of new trades and amendments from Front Office system (FOCUS) to Back Office system (Murex), manually booking and amending in Murex where necessary.
• Reconciliation between Front Office systems and Back Office system, checking Present Value are in line.
• Working with Middle Office P&L and confirmations teams to reduce operational risk and maintain highest levels of support for each portfolio.
• Build and maintain good working relationships with other internal clients such as legal, marketers, trading & back office.
• Ensure accurate and timely processing of rebooking initiatives, migrations
• Oversee all reconciliations and reports in the area and investigations are completed on a timely basis.
• Dealing with queries from back-office, marketers and clients, relating to booking discrepancies.
• Provide cover for other members of the Trade Support team when necessary, ability to flex between teams depending on daily volume and demand.
• Management of Options
• Contribute to the implementation of new system functionalities and raise IT requirements for bug fixing or system enhancements when possible.
• Participate in Transversal projects.
• Co-ordinate the processing of Credit Events.

SKILLS AND QUALIFICATIONS

• Positive and dynamic attitude to complying with deadlines and objectives.
• High degree of interest in product and process issues affecting the department.
• Effective time management and ability to prioritise workload and escalate issues to management.
• Have strong interpersonal / communication skills.
• The candidate must display a very professional attitude and be willing to work long hours if the workload is high.

PRODUCTS

• Credit flow
• Credit structured

CORE COMPETENCIES

• Team Spirit
• Communication
• Motivation and Commitment
• Controls and Production
• Results Orientation
• Analytical and Organisational skills

If you wish to apply for this role please send your CV through to charlie.paddock@investigo.co.uk