US-CTS-DRS-Banking Operations Staff - Interest Rate Derivatives Middle Office – Analyst Contractor Role

Deloitte US | Deloitte Transactions and Business Analytics LLP

New York, New York, United States

Position Summary

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Interest Rate Derivatives Middle Office – Analyst 

Global Markets Division – FICC Operations

Responsibilities/Duties:

OUR IMPACT

Operations is a dynamic, multi-faceted division that partners with all areas of the firm to deliver banking, sales and trading and asset management capabilities to clients around the globe. Alongside this integral service delivery role, Operations provides essential risk management and control, preserving and enhancing the firm’s assets and its reputation. Behind every trade executed, every new product launched, every market entered, and every transaction completed is an Operations team that develops the foundational processes and controls that make our business flow.  

Within Global Markets Divisional Operations, the Interest Rate Product Sales and Trading Services team provides risk management by facilitating the intraday processing and exception management of trade breaks both internally and externally for Interest Rate Derivatives. Various operational reconciliations are performed on trade date and post trade date to ensure successful trade flow and books and records balancing. Additionally, the team works closely with legal, compliance and other federation teams to interpret and implement key operational controls to support various Dodd Frank regulations such as Mandatory Clearing, Mandatory SEF execution clearing. The team also executes various projects aimed at gaining operational efficiency.  

The team works closely with team members across regional offices in London and Asia to facilitate the above functions. The team supports a cross section of products ranging from highly complex structured transactions to more vanilla cleared Interest Rate Derivatives. 

YOUR IMPACT  

There is a wealth of knowledge to be gained from the markets, events and products covered by Interest Rate Derivatives on a day-to-day basis, along with a unique opportunity to interact heavily with various businesses and operational units across the firm. The candidate will work directly with institutional clients, sales & trading desks, technology and other business partners to offer best in class client service, solve complex problems and influence change. This is a great opportunity for an analytical/client service individual to utilize their professional skills by controlling risks and driving efficiencies in a fast paced environment.

 

CAREER DEVELOPMENT OPPORTUNITY 

This role provides a fantastic opportunity to broaden product and market expertise and to develop management skills across a broad range of topics. This role also provides substantial exposure to senior stakeholders, offering excellent opportunities for career progression. The firm provides a range of development tools including courses and a formal Feedback 360+ review process to enhance management effectiveness and equip individuals to progress in their careers. The candidate will be required to demonstrate strong product, industry, and technical knowledge in order to facilitate the transaction flow and to anticipate and avoid potential trade problems. This position requires a high degree of communication with traders and salespeople in a fast paced setting and ongoing interaction with other Operations teams, Compliance, Credit, and Technology to resolve issues arising from trade execution, client queries, and new business. In addition, we are looking for a strong candidate that can help to drive workflow improvement across the organization. 

DESIRED SKILLS & EXPERIENCE  

We are searching for an experienced Operations professional to join the Interest Rate Derivative business unit in New York. 

Responsibilities include: 

Communications – 

  • Identify key objectives for the organization and offer strategic vision and innovative ideas
  • Articulate issues clearly and communicate effectively with all levels of the organization (analyst to managing director)
  • Understand complex situations and communicate with senior leadership ‘in the moment,’ offering opinions and solutions
  • Demonstrate great interpersonal skills and ability to develop strong relationships with key stakeholders both inside and outside of Operations
  • Share credit with others and create opportunities for others to build relationships with and present to key stakeholders

Functional & Technical Expertise -- 

  • Leverage deep technical operational expertise to drive strategic change across the front to back of the function and across the global organization
  • Possess robust financial industry knowledge and experience and takes initiative to broaden skill sets
  • Exhibit strong analytical skills with an ability to understand complex workflows and provide day-to-day issue resolution
  • Deliver consistently in spite of multiple demands through effective time management, prioritization and delegation

Innovation – 

  • Partner in the definition, review, and execution of the FICC Operations Strategy
  • Enhance the control environment through business intelligence-related initiatives to increase scalability, adapt to regulatory changes and deliver creative solutions to clients
  • Proven track record as an agent of delivery and change, challenging existing processes to evolve businesses and industry to align with Operation’s Strategic objectives
  • Create a culture of innovation whereby teams proactively investigate how they may be able to leverage new or alternative technologies and working practices

 

Client Focus – 

  • Identify client needs and optimize operational efficiency by offering innovative and tangible solutions
  • Effectively handle difficult requests and build trusting, long-term relationships with clients 
  • Balance priorities of ensuring optimal outcomes for clients and simultaneously pursuing the firm’s interests
  • Coach others actively on the importance of client focus and how to apply it in in day to day roles

Risk Management – 

  • Partner with global management team to provide effective oversight of key Interest Rate Derivatives functions 
  • Challenge existing risk and control framework and the status quo to further reinforce the control environment 
  • Proven ability to effectively manage operational risks and develop control enhancements
  • Understand and articulates firm wide risk impact of business decisions
  • Provide guidance and advice from a risk and control perspective to ensure the proper remediation of risk arising from new products, business, migrations, etc.

Qualifications:

Preferred Qualifications

  • Prior experience working in an Interest Rate Middle Office team or other adjacent operations team relating to Interest rates. Individuals who have Middle office experience in other products may be considered.
  • Sees the big picture and keeps current with emerging business, economic and market trends. 
  • Works intensely towards extremely challenging goals and persists in the face of obstacles and setbacks
  • Strong team player who collaborates readily with others within and across teams
  • Encourages other team members to participate and contribute, and acknowledges others' contributions
  • Forward-thinker who anticipates questions, plans for contingencies, and identifies clear objectives
  • Improves current processes and develops creative solutions that are grounded in reality and have practical value
  • Influences outcomes by taking a position on issues and presenting sound, persuasive rationale for ideas

Work you'll do

Expected Work Schedule

Approximate hours per week

About Deloitte

Our inclusive culture empowers our people to be who they are, contribute their unique perspectives, and make a difference individually and collectively. It makes Deloitte one of the most rewarding places to work. 

As used in this posting, “Deloitte” means Deloitte Transactions and Business Analytics LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

Requisition code: 131680