Trading Operations Specialist
Market Job Description Responsible for supporting the funding and hedging role of the WFBI Treasury desk across a range of products – Repos / Bonds / Derivatives / FX / MM. Responsibilities may include minimising financial losses by identifying and resolving trade capture errors, reconciling trade activity between system of record and any trade-related documentation, ensuring all trade activity is confirmed with counterparties and drafting, as needed, trade confirmations, amendments and terminations. Research and resolve trade issues, breaks and disputes. Requires in-depth knowledge of financial products (securities and/or OTC derivatives); good knowledge of fixed income markets: understanding of trade settlement workflow controls and the effects of operational breakdowns; and a sound understanding of the full front to back process within a trading environment.
Market Job Description – Main function of the job
- The main role of the WFBI Middle Office is to provide trade support to the Front Office Treasury desk, as well as to control the position keeping, valuation & profitability for WFBI Dublin’s books.
- The Middle Office team also works closely with Risk, Finance, Compliance and various departments in the US & London offices including Operations on a daily basis. They aid in the production of risk and P&L reports for Management and they also work with technology and other Middle Office teams globally on projects and process improvements.
- Provides trade support to the Treasury desk for all products including but not limited to Interest Rate Swaps, Cross Currency Swaps, Money Market Trades including Repos / Reverse Repos and Foreign Exchange.
- Assist in resolving trade discrepancies caused from trade failures, booking errors, breaks etc.
- Ensure all deadlines are met, all exceptions in the trade flow are investigated and satisfactorily resolved in a timely manner.
- Knowledge & Experience with regard to EMIR & Volcker reporting
- Sound understanding of accounting logic with regards to cash entries and GL feeds.
- Be capable of making appropriate decisions in line with critical deadlines, high value trades and sensitive clients.
- Become a subject matter expert and apply in-depth knowledge to add value to operational procedures and other improvement procedures.
- Compliant with all operational and regulatory controls and procedures.
- Capable of owning and delivering UAT for specific system enhancements, ensuring scripts and testing are accurately completed prior to release in the production environment.
- Build strong relationships across the business with the relevant teams including regular communication with the Front Office.
- Ability to self-motivate and self-manage personal development in line with goals and personal development plan – take personal responsibility for own performance.
- Ability to work well within a team, meet targets and interact with a wide range of people including senior management.
Market Skills and Certifications Experience Required
- Candidates must have a strong academic background and proven experience in similar roles within Operations / Middle Office departments of financial institutions.
- The candidate should have advanced knowledge of Microsoft Suite, excel and access in particular as well as being systems orientated in general.
- Must be analytical with strong verbal and written communication skills.
- Ability to escalate appropriately, make informed assessments of issues and suggest corrective actions.
- The candidate should possess outstanding problem solving skills, a high focus on attention to detail, be deadline orientated and be productive under pressure.
- Experience in trade booking & accounting systems which includes: Globus T24, Flexcube, ITFT, Calypso, Blackrock Aladdin, Simcorp Dimension, Opics, Bloomberg as well as general Financial Services systems.
Wells Fargo team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. As a Wells Fargo team member, you are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
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