Trade Support Manager
Millennium Management, LLC Buckingham, United Kingdom
Job Function Summary
Reporting to the Head of EMEA Middle Office, the ideal candidate will function as a manager within a fast-paced, deadline-driven, high-volume, and high-pressure environment. As a senior member of the Trade Capture Operations team, the candidate will serve as the primary escalation point for all trade capture matters involving internal stakeholders and executive brokers. The Middle Office (MO) Trade Capture Manager will oversee a team of eight Specialists, ensuring timely and accurate trade capture and affirmation to support Portfolio Managers (PMs) and other internal teams.
As a principal contact across various asset classes, including Interest Rate Derivatives, Credit, Bonds/Repo, Equity Derivatives, FX, and Futures, the candidate must gain a thorough understanding of all front-to-back business flows to ensure smooth operations and effective risk management. Responsibilities include maintaining the overall operational control framework through detailed review of KPIs and KRIs, and adhering to the firm's policies and protocols.
The position demands strong organizational and communication skills, keen attention to detail, and the ability to manage business relationships while meeting tight deadlines. The candidate should have a solid understanding and appreciation of trading, risk, P&L, compliance, and financial regulation. Additionally, the candidate is expected to manage and motivate the team while also being ready and willing to step in and assist with BAU activities when necessary.
Principal Responsibilities
The MO Trade Capture team consists of eight employees whose primary responsibilities include:
* Assisting with the onboarding of new products, as well as new PMs and trading groups, onto the MLP platform.
* Liaise with external funds and their administrators to onboard them onto the MLP platform.
* Ensuring the MO provides a timely, high-standard level of service to stakeholders, supporting the business with ever-changing initiatives and demands.
* Managing PM relationships and ensuring timely resolution of queries from PM teams and counterparties via multiple communication channels (Email, BBG, Slack, Symphony, Webex, Skype).
* Collaborating with PMs and internal teams to automate and streamline processes, reducing operational risk and increasing the efficiency of trade capture.
* Monitoring and promptly clearing trade exceptions generated by new executions, ensuring all trades are booked and breaks are resolved on time to minimize risk impact.
* Working with both onshore and offshore teams, and counterparties to match and resolve economic breaks for a range of asset classes.
* Ensuring that risks on all trades or products that do not go through an electronic platform are addressed and mitigated.
* Providing support on T+1 to remediate any issues from the previous day, ensuring timely communication to impacted parties.
* Escalating process failures or potential issues that could create erroneous P&L events to the line manager, operational risk team, and wider management team.
* Operating a 'follow the sun' model, ensuring clear handover of tasks and responsibilities to each region.
* Managing expiries, coupon blending and trade compression activities, and addressing P&L issues as they arise.
* Identifying and documenting process weaknesses, implementing remediation initiatives, securing stakeholder buy-in, managing end-to-end project planning and delivery, proactively assessing and documenting risks, proposing process and control improvements, and keeping the Operational Risk department informed of any findings.
Qualifications/Skills Required
* Minimum of 10 years of experience in a middle office or trade support role within financial services.
* Proven experience in managing a team and handling high-volume, high-pressure environments, with the ability to motivate and develop less experienced personnel.
* Strong understanding of financial products and asset classes, including Interest Rate Derivatives, Credit, Bonds/Repo, Equity, FX, and Futures.
* Equity derivatives is an expanding business and any prior experience would be an advantage.
* Familiarity with industry-standard systems such as MarkitWire, Markit Trade Manager, ICE, Bloomberg, Imagine, and Murex is beneficial.
* Exceptional communication and interpersonal skills, with the ability to manage relationships with internal stakeholders, portfolio managers, and counterparties. Daily interaction with senior stakeholders across the firm is required.
* Excellent organizational and time-management skills, with the ability to prioritize tasks and meet tight deadlines in a high-paced working environment.
* Strong analytical and problem-solving abilities, with a strong sense of ownership and keen attention to detail.
* Proven ability to automate and streamline processes to enhance efficiency and reduce risk. Skilled in project management, including planning, stakeholder engagement, and delivering remediation initiatives. Coding skills are beneficial but not required.
* Ability to strike a balance between working autonomously and collaborating as part of a team, managing project deliveries alongside BAU requirements.
#J-18808-Ljbffr