CIB - Stock Borrow Loan EMEA Trader Assistant - Associate
Location: Greater London
Job Type: Full time
The Stock Borrow Loan (SBL) and Collateral Management Group (CMG) desks are part of the Equity Finance Business within the Corporate and Investment Bank. As a desk they undertake various trade structures ranging from short coverage, financing, conduit lending and the facilitation of longer-term non-standard structured deals. To support this they borrow stock from counterparties based globally and flow this stock through multiple legal entities onto the relevant risk entity. The Stock Borrow Loan Middle office's main function is to facilitate and control the end to end life cycle of Equity Borrow / Loan activity for the investment bank in EMEA. Liaison with external counterparties & traders on a day-to-day basis is the key to success. Trade support and collateral (cash and stock) management are the main functions of the team along with the control and clearance of all exceptions and cash flows that the trade lifecycle creates
As a trader Assistant, will be responsible for understanding the various trade structures and flows, look to accurately capture all trade transactions and execute on various trade bookings and amendments, with an overall governance of trade fail activity, and ensuring relevant controls are performed
- Provide close support to the trading desk, understanding the various trade flows and look at continuous ways to improve operational support
- Build an in-depth understanding of all trading structures from both a financial and operational perspective.
- Timely and accurate execution of trade bookings, across recalls, Corporate Actions, returns and various inceptions and amends in trades lifecycle
- Governance and oversight of the SBL fail activity, and constantly performing root cause analysis with support teams to better improve the fail landscape
- Understand the SBL regulatory environment and ensure we are compliant through the team’s processes
- Understanding of vendor services, and maximising the usage of these as well as driving the performance of their product offerings
- Work closely with operations functions and infrastructure groups to support a ‘one team approach’
- Responsible for ensuring all controls are diligently performed and signed off on a timely basis.
- Clear and concise communication with all support teams to ensure the timely and efficient resolution of queries.
- Operate as a point of escalation for any internal or external queries and complex queries
- Assist in driving the change agenda, in both initiatives that benefit the team directly as well as wider teams/department
- Participate in industry and client meetings in order to better improve the client experience.
- Assist in leading the partnership with the trading desk in understanding their strategic objectives and then analysing what is needed operationally to support that
- Attend senior management meetings, to cover off on teams KRI and KPI metrics, aswell as looking to help drive the team and department forward on the people agenda, through such areas as employee engagement and D&I initiatives.
- Work with the team to identify areas for improvement and look at self-solve solutions and other automation opportunities for process improvement.
- Build relationships with other stakeholders that may include, technology, product development, other operational areas, legal, risk etc
- Provide advice and support to help the team and the individuals in it to execute against the department and team goals, working with and coordinating across a variety of departments to help achieve this.
- Be able to identify gaps in information and processes and analyse these to resolve problems and issues
- Participate and contribute to the various strategic initiatives, to keep improving and evolving processes and business architecture
This role requires a wide variety of strengths and capabilities, including:
- Understand the SBL product and all the relevant trading structures and flows
- Complete knowledge of the front to back Operations process (including the key elements such as confirmations, settlements, and regulatory reporting) and facilitate issue resolution across teams, may be a subject matter expert in a number of these areas
- Understand the key elements of other infrastructure groups (i.e. Finance, Market risk, Credit risk, Operational risk, Legal, Collateral, etc.) and recognize the impact of the actions of the Trader assistant team on these areas
- Experience of leading teams would be a plus
- Must have clear communication skills and an ability to use these to work collaboratively, explain, and challenge, as appropriate
- Good manager of stakeholders
- Attention to details and sense of ownership
- Great team player able to work in a pressurized and changing environment
- Organised and able to prioritise, able to successfully manage that trade-off between speed of execution and attention to detail
- Possess strong analytical and numerical skills
- Strong problem solving, control, and project management skills
- Strong technical skills, especially in Excel (experience with Alteryx / Tableau a plus)
- Evidence of strong leadership qualities, such as influencing, employee engagement, risk management