Equities Drafting Analyst
The officer will be in charge of handling OTC confirmations drafting and execution liaising on a daily basis with sales, trading, front office support and legal team. The selected candidate will be in charge of liaising with external clients on a daily basis to ensure the good execution of all confirmations of its own portfolio.
Its Primary responsibilities are :
- To perform day-to-day trade confirmation drafting
- To follow up any discrepancies with all the related stakeholders such as Trading, Sales, Operations & external counterparties, to ensure all can be tackled within a timely manner.
The team works closely with other Trade Support teams and Trading to ensure timely communication for any breaks identified, and with worldwide legal teams to produce accurate confirmations in line with BNPP elections and with ISDA standards.
Also in the light of EMIR regulation, the target is to match all confirmations within one day.
To draft confirmations with counterparts for wide range of Products including Vanilla Options, Equities Swaps, Variance Swaps, Knock-out Forwards, exotic swaps, exotic options etc.
- To perform final verification of the trade economics before sending the final confirmation to counterparts
- To support secondary events during the product life cycle such as Novation, Early Termination, etc.
- To closely comply with EMIR, FED and Dodd-Franck regulation
- To chase external counterparties when it is needed, to follow up any type of amendments requests
Continuous Control & Improvement:
To update confirmation templates according to Legal, Sales, & Trading requests or due to resolution of financial/legal issues
- To participate in Industrial Forums such as ISDA Working Group meetings to keep updates for ISDA confirmation templates, and follow up on other Industrial initiatives such as Dodd Frank Act, EMIR, etc.
- To closely monitor the trade volumes and outstanding confirmations and escalate issues/concerns to the line managers
- Contribute to the Permanent Control framework
Participate to global projects related to any Documentation processes improvements.
Participate to the automation/improvement of the auto-drafting
Active follow up on updating procedures of Documentation processes.
Strong Equity derivatives products knowledge including the front to back workflows, product event management
Strong knowledge about ISDA and confirmations processing
Strong knowledge about EMIR and Dodd-Franck requirements
Strong MS and programming skills (VBA, Excel, Access) would be a significant plus.
Organized & good resistance to stress: drafting on the fly, matching on T+1, complying with EMIR regulation is a daily mandatory constraint. Being able to absorb important volume of confirmation to draft
Attention to detail: the confirmation is the ultimate document which bind the bank with the counterparty, 100% correct is non-negotiable
Innovation and initiatives (Think “outside the box”): Demonstrate willingness to constantly improve the status quo. Understand well the processes in place and evaluate if needed, alternative options to do things better with a cost - benefits / ROI approach.
Being able to bring out-of-the box solutions to continuously improve dispatch and execution timeline
Self-discipline & autonomy: Each team member has its own portfolio of clients, which need to be managed efficiently. Ability to work on its own with little supervision.
Adaptability & Change Management: Ability to easily adapt to new situations (new booking systems, new products, new activities to manage…) as this is a constant changing environment
Strong Client Focus: Client is at the center of all our concerns. All team members are in touch on daily basis with clients from its portfolio. The balance between EMIR regulation and client’s satisfaction is a constant challenge. Being able to implement a strong and effective relationship with counterparties, in order to meet as much as possible regulatory requirements
Escalation & Reporting process: all team members need to closely follow escalation rules in place with all different stakeholders. This is only thanks the strictly compliance to those rules that we can achieve EMIR targets. Being able to efficiently raise to manager issues encountered on a daily basis, even if those are not forecasted in existing processes