Join our Rates Exotics & Hybrids Middle Office team—drive risk control, PnL analysis, and support complex trading operations!

As a Rates Exotics and Hybrids Middle Office Senior Associate in the Rates Exotics and Hybrids Middle Office team you will provide first-line support for the Rates trading business and act as a key point of contact for numerous downstream groups. You will ensure the accurate capture of the business’ transactions, systematically managing product complexity, report on the subsequent risks resulting from these transactions, and present attributed PnL to the desk on T.
 

Job responsibilities

Acts as the primary control over the accurate capture of the business’ transactions in the Risk Management System

Analyses and verifies Risk and P&L new for transactions traded during each day 

Monitors and manages trade events throughout the lifecycle of the transactions, e.g. option exercises, knock ins/outs,  refixing

Reviews legal documentation for accuracy vs. the Risk Management System booking

Liaises with Marketing support and downstream groups

Produces and validates daily P&L and Risk positions for the desks

Investigates and resolves P&L and Risk queries from Front Office

Creates and runs ad-hoc risk scenarios for the trading desk which can involve producing impact of parameter changes, hypothetical market situations, what if, worst case etc.
 Conducts stress testing scenarios for Trading and Market Risk
 Produces risk reports for use by Valuation Control Group (VCG)
 Produces Risk and P&L impact analysis for QR resulting from model or analytical changes
 

Required qualifications, capabilities, and skills

Product knowledge: Understanding of vanilla and complex fixed income products

Vanilla Products: FXOptions, IR Swaptions, Swaps, XCCY Swaps, Equity Options

Complex Products: Power Range Dual Currency Swaps/Notes (PRDC) is our main product

Risk: Understanding of the greeks

PnL: Understanding of trading PnL and key drivers

Understanding of risk types: Market, operational, settlement, credit, legal and reputational

Systems skills: Understanding of risk management and reporting systems, straight through processing, Excel/Access 

Problem solving: Developing and implementing solutions to often complex issues

Control: Understanding and implementing the control framework to mitigate risk through the transaction lifecycle

Projects: Assisting in the delivery of tactical and strategic systems / process solutions

Networking and the bank-wide perspective: Understanding the needs of other groups and the importance of relationship building through extensive interaction