OTC Client Clearing BA - London - £650-700pd
A leading global investment bank is looking to recruit an experienced Business Analyst to join a high profile OTC client clearing project. The chosen candidate will be based in London and will be accountable for taking ownership for one or more processes and products. The role will support the OTC Client Clearing Project Manager and team.
The project is part of a global programme to build an OTC derivatives client clearing broker function. The nature of this new business area is heavily dependent on new rules, regulations and market structure resulting from the US Dodd-Frank Act legislation, due to take effect later in 2011. However many aspects of these changes are unclear and yet to be defined. In addition, it is necessary to make changes to the clients organizational structure to support this new function, which will meet with inertia and potentially with resistance. The challenge will be to gain cooperation from all stakeholders.
There is also a larger programme running in New York to meet all other aspects of the Dodd-Frank Act and the OTC Client Clearing project overlaps in places with this programme and will need to interact with it. There are likely to be priority conflicts as the DFA programme generally needs to ensure continuation of current business while the OTC Client Clearing programme will be perceived to be a new business initiative and therefore a lesser priority in an environment of limited resources, tight budgets and tight, externally defined, timeframe.
Responsibilities:
Actively support the OTC CC Project Manager, the project team and their business partners to successfully deliver the OTC Client Clearing service
Communicate with stakeholders to identify needs and evaluate alternative business solutions in conjunction with project management
Define logical and innovative solutions to complex problems
Translate stakehholder requirements into highly specified structured project briefs
Work closely with stakeholders, developers, architects and a variety of end users to ensure technical compatibility and user satisfaction
Maintain full and up-to-date understanding of the business strategy, current practices and system capabilities
Manage expectations of the systems users and the business functions when proposed system enhancements have to stand the scrutiny of cost/benefits analysis and justifications
Present proposals to clients
Initiate and maintain relationships with key stakeholders and business contacts
Create test scenario’s and manage the test execution in integrated system tests
Develop expert-level understanding of major local systems
Ensure compliance with all relevant internal instructions (FIMs, GSMs, circulars), internal control standards and external regulatory requirements, including the management of operational risk and adherence to the Group’s standards of ethical behaviour
Skills/Experience/Qualifications:
Knowledge and understanding of OTC derivatives operations - specifically Interest Rate Swaps (IRS) and Credit Default Swaps (CDS)
Ability to analyse and document operations workflows
Understanding of margining and collateral management
Understanding of credit risk management
Understanding of liquidity calculations and management
Ability to work in a fast-paced, team-orientated environment and execute multiple concurrent assignments effectively
Strong collaboration and relationship management skills, specifically with the business stakeholders
Good commercial orientation, appreciating the business usage of solutions
Strong influencing and negotiating skills
A strong level of analysis experience
Have an excellent knowledge of the project lifecycle
Strong analytical, problem-solving and organisational skills
Ability to handle multiple tasks and follow them through to resolution accurately and in a timely manner
Excellent communication skills, both oral and written; i.e. thorough application and metadata documentation skills
Ideal, but not essential experience:
Experience of working in a similar project to set up an OTC derivative clearing broker function for another investment bank
Experience of use and/or interfacing with MarkitWire and/or other trade affirmation platforms
Experience gained working for another Prime Broker provider
Experience gained working in conjunction with or for a Clearing House (e.g. LCH, ICE, CME)
For more information or to apply for this role, please send your details to: OLG140799