Middle Office Representative

International Volunteer Program|Chicago|IT (Information Technology)

Middle Office Representative

Chicago, United States International Volunteer Program IT (Information Technology)

Responsibilities

Responsibilities

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 and all support during the life cycle of client trading activity
  • Keep clients informed of all regulatory changes impacting operations

During your VIE mission you will be in charge of these responsibilities :

  • 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 during client’s activity with SG
  • Communicate with clients all trade life cycle events, e.g. allocations, breaks, transfers, expiry/market intentions until resolution.
  • Gathering intentions for upcoming expiries from clients to ensure full client intentions are known leading up to expiry.
  • Follow global procedures to proactively keep track of physically delivered products at expiration; liaise with Deliveries teams to ensure positions are accurately reported at the CCP.
  • Preform client queries pertaining to trade life cycle and position reporting
  • Ensure all execution only activity is correctly captured in execution tool (currently UBIX) 
  • Act 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
  • Preform key end of day controls to ensure that all risks are managed for that day’s 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
  • Understand booking rules and their impact on risk to firm during trade lifecycle
  • Process Post-execution allocations 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  
  • 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 top day 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 ensuring all approvals have been received and exchange requirements have been followed
  • Participate in the  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)
  • To participate in (or lead where applicable) any projects that impact the exchange traded derivative products 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

Profile

  • Graduate from a Master Degree 
  • Minimum 1 year(s) of experience (Client Service, Trade Support) in dealing with trade breaks, exchange reconciliations, or similar Middle Office experience within a similar financial institution and client facing
  • 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)

To facilitate the examination of your application by our English-speaking managers, we thank you for applying in English.

The VIE assignment in a nutshell

This VIE in Chicago is to begin as soon as possible but you need to plan 3 months between your application date and the beginning of your VIE assignment. It will last 18 months.

The VIE is a specific contract, under Business France’s eligibility criteria, opened to candidates under 28 and from the member states of the European Economic Space.

Please see Civiweb www.civiweb.com, in order to have more details regarding your financial indemnities.

We would like to draw your attention to the fact there that your VIE mission could potentially get postponed, depending on the evolution of the health crisis and subjects to the decision made by the Crisis and Support Centre of the Ministry of Europe and Foreign Affairs (MEAE). In addition, the selected candidate will only be paid upon confirmation from Business France and arrival in the country of assignment.

Why join us

As soon as you arrive, you will be integrated into our teams and will learn every day alongside our experts, who will support you in your tasks. Gradually, you will become more independent in your projects, making this experience a real career accelerator. You will also discover all the diversity of our businesses, in a sector that is constantly evolving and innovating.

At the end of your VIE, various opportunities could be offered to you, in France and abroad.

Business insight

At Societe Generale, we are convinced that people are drivers of change, and that the world of tomorrow will be shaped by all their initiatives, from the smallest to the most ambitious. 
Whether you’re joining us for a period of months, years or your entire career, together we can have a positive impact on the future. Creating, daring, innovating and taking action are part of our DNA. 
If you too want to be directly involved, grow in a stimulating and caring environment, feel useful on a daily basis and develop or strengthen your expertise, you will feel right at home with us!

Still hesitating? 
You should know that our employees can dedicate several days per year to solidarity actions during their working hours, including sponsoring people struggling with their orientation or professional integration, participating in the financial education of young apprentices, and sharing their skills with charities. There are many ways to get involved.

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, 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: 22000LMC
Entity: SG CIB
Starting date: immediate
Publication date: 2022/11/15
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