Equity OTC confirmations_Executive Director_Operations_Mumbai

Primary Responsibilities

Scope and Purpose of the Role:

The role is within the Equity OTC Confirmation area, which is part of the broader Equity Derivatives group under the Derivations Operations umbrella

Specific Tasks:

• Generate ISDA compliant confirmations on OTC Equity trade executions
• Research and resolve documentation discrepancies through proactive communication with internal partners (legal, sales, trading) and external counterparties.
• Ensure accuracy and completeness of internal confirmation records versus electronic platforms
• Implement and maintain stringent process controls to mitigate firm and client risk.
• Understanding the end-to-end flow of the process and getting into contact with sales and trading, MO and settlement teams on a regular basis to resolve breaks raised by clients
• Data mining, business analysis, modeling/reporting, and documentation: preparation and compilation of daily/weekly/monthly metric dashboards to ensure thorough business analysis
• Collaborate with team members of all levels to complete daily tasks, share market and systems knowledge, create best practice methodologies and approaches for business analysis, issue follow up and escalation
• Develop relationships with internal clients (i.e., Traders, Trade Support, Legal, Onshore Drafting Teams) to understand the priorities of stakeholders to ensure that business needs are met, protect client confidentiality and address ad-hoc requests in a timely fashion.
• Knowledge of Equities product (Swaps + OTC options) is a must.
• Understanding of basic lifecycle of OTC products
• Answering detailed queries on specific products including Equity Swaps, OTC Options, Variance Swaps and Exotic Products like Autocalls, Accumulators, Cliquets, Dispersions
• Partner with technology, operations, sales and trading to lead projects using the Agile methodology to streamline existing functions and enable new business
• Manage performance management cycle for the team by conducting regular 1 to 1's with Team members to address the areas of career development, training, performance and business processing
• The role involves building and maintaining relationships with the regional OTC Middle Office Teams, the Business Unit, IT and other operational support areas to ensure that controls are maintained and trade documents are drafted, affirmed and executed in a timely manner.
• Training new recruits by providing adequate insights which enables smooth functioning of day-to-day activities and ensuring best practice is implemented as part of the Team's daily processing requirement.
• Design training plans for the team and periodically update SOPs with detailed process flows for adequate understanding.
• Govern the Weekly KRI's, KPI's, Depth Charts, Weekly Risk Metrics weekly and ensure home testing for critical Reps is completed monthly.

• Drafting Vanilla & Exotics OTC Derivative trade confirmations
• Timely submission and reconciling of transactions confirmed through electronic platforms including DTCC and SwapsWire.
• Issuing other critical client notifications such as corporate action events
• Liaising with our internal partners to ensure the firm's regulatory obligations are met
• Miscellaneous adhoc strategic initiatives including project work and metric creation / reporting

• Minimum of 10+ years Banking Operations or equivalent relevant industry experience with exposure to financial products
• Minimum of 6+ years of previous experience in confirmation drafting roles with exposure to trade life cycles, process flows and reconciliation with proven track record in managing and developing control functions.
• Strong Communication (Writing and Verbal) Skills. Effective interaction with others across departments and regions
• Knowledge of derivative products, settlement processes and Drafting systems (thunderhead) is preferable although training will be provided on the job
• Ability to think strategically and provide insight into how to improve existing business and technology processes
• Minimum bachelor's or master's degree.

• Strong working knowledge of ISDA definitions is essential
• Proven track record and understanding of operational risk
• Experience in negotiating with clients to resolve language discrepancies
• Strong ability to maintain risk and control while balancing client service
• Time management and an ability to multitask across line and project work
• Ability to deconstruct complex processes into their component parts
• Root cause analysis of reoccurring problems with ability to resolve
• Excellent verbal and written communication skills across all levels of the organization
• Ability to re-engineer existing procedures
• Common sense coupled with a strong analytical and logical approach
• Proactive and aggressive approach to risk management
• Ability to operate as a strong team player able to work efficiently & effectively against aggressive deadlines
• Ability to build strong working relationships with and influence internal partners including trade support, documentation and sales/trading
• Proven track record of Process Management.
• Project Management or implementation of global strategic improvements.