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Middle Office Derivatives Analyst, Asset Management

Phoenix Group

Salary and Benefits: £35,000 - £45,000 (subject to experience) + bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays (pro-rated), plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more! 

Job Type: Permanent, full time

Hiring Manager: Middle Office Derivative Manager

Location: This role will be based in our Edinburgh office, with time spent working in the office and at home. There will be some opportunity to travel to other Phoenix office locations. Please read about Phoenix Flex here

We are pleased to announce an exciting new career opportunity for a Middle Office Derivatives Analyst, to join our Asset Management COO team. 

Who are we?

We want to be the best place that any of our 6,800 colleagues have ever worked.

We’re the UK’s largest long-term savings and retirement business. We offer our 12 million customers products across our market-leading brands, including Standard Life, SunLife and ReAssure, with c.£259 billion of assets under administration. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet. 

Context

Middle Office is a key support function for the Asset Management Front Office. It has wide ranging accountability ensuring operational control of investment activities, supporting the Group and AM governance framework, and delivery of investment reporting.

This is a key role in the team which involves coordination of post trade lifecycle management across Phoenix Group entities for derivative products. Dedicated product support for the various Front Office functions, primarily the ALM (Asset Liability Management) team on trade execution, confirmation, and post trade activities. Additionally, this role will be integral in supporting Portfolio Implementation and Manager Oversight on a day-to-day basis, providing key operational input and guidance. 

A key focus of the role will be to ensure accurate and timely derivative data is stored through internal systems requiring coordination and direction of activities amongst internal functions and key outsourced service providers. In particular, the role will require continued build out and support in overseeing services provided by BlackRock Solutions via the Aladdin suite of products.

This role will offer a great learning opportunity, exposure to asset management, and career progression into an experienced SME, providing active participation on process improvement and operating model enhancements to achieve industry leading systems and controls across asset and fund classes. 

In the same SME capacity, the Derivatives Analyst will participate in functional integration of legacy Phoenix risk carriers across procedures and platforms.

Key responsibilities

  • Derivatives Oversight – Ensuring that derivative operational activities are completed and providing ownership to resolve any outstanding issues.
  • Derivative Data – Ensuring that derivative trades are correctly captured in internal systems.
  • Live Cycle Management – Performing middle office control on direct derivative trading. (confirms, income and resolving trade flow issues)
  • Onboarding New Systems – Working with our third-party providers to onboard new system capability and set up internal processes to utilise the tools available.
  • Risk and Control – Developing processes and procedures to make sure our derivative operations are functioning within our policy standards.
  • Supporting the business in meeting regulatory requirements.
  • SME support in the new instrument onboarding process.
  • Managing key relationships / interfaces;
  • Internal Functions: Markets & Products, Portfolio Implementation, AM Manager Oversight, Middle Office, Cash Management, Investment Operations, Risk Management, & InVista Development Team
  • External Parties: External Portfolio Managers, Third Party administrators, Platform Service Providers, Custodians, Clearing Brokers & Trading Counterparties. 

What we’re looking for

Personal Attributes & Skills

  • Diligent working style with attention to detail and high standards for quality
  • Excellent analytical and problem-solving skills with holistic financial thinking
  • Excellent organisational and project management skills
  • Skilled in preparing well structured, clean, consistent and client focussed presentations and management information reports 
  • Agility and vision to adapt processes in an ever-changing environment 
  • Good communication skills, with the ability to collaborate across a wide range of stakeholders and maintaining effective relationships
  • Self-starter and independent worker with strong sense of ownership, capable of delivering, driving and shaping results and to meet deadlines under pressure
  • Proficient use of MS Excel, Word, PowerPoint and ideally the Aladdin platform

Knowledge

  • Knowledge of the trade lifecycle of derivatives including derivative documentation (ISDA/CSA and central clearing agreements)
  • Functional knowledge of end to end investment management technology / operating models, and downstream consumers / value chain
  • Knowledge across investment products including complex derivative structures
  • Practical experience with business transformation projects, such as onboarding of investment managers, products (cash and derivatives, potentially structured products) or portfolio restructurings 

Experience

  • Experience in financial services industry
  • Experience of managing Derivative products from a middle office or back office perspective 
  • Understanding of pre-trade governance: strategy / investment guidelines / mandates
  • Trading activity – execution and trade capture
  • Operational activity – trade enrichment / validation, confirms, transaction reporting, settlement, reconciliations
  • External services – custodian / clearing broker / trade counterparty interactions
  • Regulatory considerations e.g. EMIR / TCF / Conduct of Business Rules

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you. 

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best. 

Find out more about #LifeAtPhoenix 

  • Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates 
  • Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us

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Confirmed 12 hours ago. Posted a month ago.

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