Listed Derivatives Middle Office Client Services

Permanent contract|Chicago|Banking Operations

Listed Derivatives Middle Office Client Services

Chicago, United States Permanent contract Banking Operations

Responsibilities

Client Facing Middle Office main responsibilities and tasks:

  • First point of contact for clients regarding all operational queries for Listed Derivatives and FX activity. This includes but is not limited to queries on trades and position management, client reporting, commissions and fees, regulatory topics and any ad-hoc queries that may arise in the course of clients activity with SG. Cash and collateral management will be handled directly by the MTR CCR team, although middle office will be involved if the client requires escalation in this area
  • Monitor and communicate with clients all trade life cycle events, e.g. allocations, breaks, transfers, expiry/market intentions until resolution.
  • Co-ordinate upcoming expiries with clients to ensure full client intentions are known leading up to expiry, and then managing the delivery process in conjunction with the LCR deliveries team
  • Proactively keep track of physically delivered products at expiration; liaise with Deliveries teams to ensure positions are accurately reported at the CCP.
  • Manage client queries pertaining to trade life cycle and position reporting
  • Ensure all execution only activity is correctly captured in execution tool (currently UBIX) 
  • As the operational point of contact for clients and the face of SG to the client in most instances, ultimate responsibility for the satisfaction and perception the client has of SG operations
  • Control client booking in relevant product databases versus external clearing houses/systems
  • Monitor of key end of day controls to ensure that all risk are managed for that days activity and that items are either resolved or pose no risk. If risk exists to escalate as required

These end of day controls will include

  • All client allocations received and processed
  • Review of what is left in suspense accounts
  • Aged and SG executed trade breaks
  • Fully understand booking rules and their impact on risk to firm during trade lifecycle

Post-execution allocation of all listed derivative transactions

  • Proactively contact Brokerage Desks / Trading Assistants / Client Trade Support groups throughout the day to ensure bunched order allocations are received prior to the clearing house cut-off times  
  • Monitor & accept give-in trades from other FCM’s for clearing accounts
  • Ensure the end-of-day accuracy and consistency of positions and valuations across all listed markets.
  • Preform client check outs to reduce T+N impact. As needed follow up with internal and external counterparties to resolve issues on topday rather than T+1
  • Maintain accurate static data between clearing systems to allow straight-through-processing
  • Develop action plans for recurring incidents, prepare post-mortems as required
  • Identify / analyse / rectify issues related to the flow of information and data into the relevant systems
  • Alert Market Specialists of recurring allocation / booking issues which result from mapping or clearing system set-ups.
  • Identify and resolve daily trade breaks and escalate as needed.
  • Process transfers and LME novation’s ensuring all approvals have been received and exchange requirements have been followed
  • Responsible for operational client onboarding including introducing the client to the operational process (including reporting and the portal), and completing of onboarding checklist to ensure the clients are securely onboarded in all systems
  • Continuous interaction with clients to improve their experience with SG, partnering with clients on process improvements (SG and client side) and automations where possible
  • Understand all standard client reporting and the ability to extract and schedule these. 
  • Full understanding of the client reporting portal Pulse, able to navigate the portal and onboard clients to the portal where necessary
  • Interact and support the SG front office through participation in forums such as business committees, client onboarding discussions and ongoing client profitability analysis
  • Perform internal controls (GPS and Morse) in order to manage the key risk areas identified with specific checks created
  • Continuous monitoring of key KPI to ensure that risks are being controlled appropriately and that trends are identified and worked on (market, client or process specific trends)
  • Monitor operational risks (e.g. exceptions follow-up, pending trades, top day/historical). Ensure key risk items have been tracked, monitored and resolved daily.
  • To participate in (or lead where applicable) any projects that impact the ETD product to either improve performance/efficiency, improve the service to clients or meet regulatory obligations
  • Participate in Global and Regional communities to share best practices

Profile required

  • Excellent interpersonal skills; able to communicate convincingly at all levels within the bank
  • Attention to detail and promote a think outside the box mentality
  • Strong written documentation abilities
  • Coordination skills (across and between the teams in OPER and the business)
  • Understanding of investment banking market activities
  • Compliant with confidentiality requirements
  • Self-Motivated - Ability to work autonomously and be responsible for following matters through to completion
  • Solution-focused, service-oriented and proactive
  • Team player, open to share knowledge
  • Possess a strong risk culture and reliable professional conduct
  • Always have a client centric approach 

Technical Competencies

  • Knowledge of Microsoft Office Suite, with a heavy emphasis on Excel (pivot tables, functions, etc…)
  • Expertise of listed derivatives clearing workflow from trade execution to settlement
  • FIS GMI
  • FIS ClearVision
  • Knowledge of exchange GUI’s and SG internal systems (beneficial, not essential)

Business insight

The CFM team handles middle and back office functions for the (PSC) business lines, which include prime services, commodity clearing and global execution services.
The CFM team manages the operational, administrative, financial market processing, and clearing for over 80 exchanges globally. The team is held to the highest of standards, ensuring the client requirements are prioritized equally against market exposure.  In addition, the CFM team guarantees the control and security of transaction processing in accordance with current financial legislation.

  • The execution and clearing controls of all operations performed by FO and clients
  • The first level of control on operations and "quality" certification
  • Customer Relationship Management, KYC, and all support during the life cycle of client trading activity
  • Keep clients informed of all regulatory changes impacting operations

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, sexual or gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 21000HXV
Entity: SG AMERICAS OPERATIONAL SECURITIES
Starting date: 2021/07/26
Publication date: 2021/06/07
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