Senior Associate
RBC
Toronto, ON-
Number of positions available : 1
- Salary To be discussed
- Published on June 28th, 2024
-
Starting date : 1 position to fill as soon as possible
Description
Job Summary
Job Description
What is the opportunity?
This role mitigates Legal, Operational and Economic risk associated with derivatives transactions and includes providing supervision to the Confirmation Analysts. You will ensures that quality service is provided and that the Bank is represented in a professional manner at all times.
What will you do?
Draft and review ISDA confirmations covering plain vanilla and structured OTC derivative transactions and those of other asset classes, as necessary, and directly negotiate terms with counterparties
Protect the Banks integrity and reduce risk of loss by ensuring that all Derivative transactions completed are valid deals and correct with respect to financial details and all other relevant binding details; promptly notifying traders and management of missing or erroneous trades
Develop and maintain an understanding of ISDA definitions & any applicable supplements related to derivatives transactions. Ensure that documentation complies with ISDA and current market practice to prevent, detect, and eliminate the potential for risk and liability to the firm
Perform daily review to ensure all confirmations are drafted, dispatched and executed in accordance with procedures, Standing Orders and regulatory guidelines (e.g. CFTC & ESMA)
Act as escalation contact for aging outstanding trades / issues.Further escalate as necessary to Sales / Trading, Credit Risk and Senior Management
Work with Sales / Trading regarding issues arising from the booking of transactions, initiate recommendations to reduce errors
Liaise as necessary with Management, Legal, Documentation and FO regarding new and non-standard confirmation templates and new client requests. Ensure proper documentation of all approved templates and applicable operational procedures
Monitor counterparty set up process to ensure appropriate controls are in place to mitigate risk of setting up clients where KYC and due diligence is not yet completed
Provide effective supervision and leadership to the Confirmation Analysts
Assist Management with the development and cross-training Confirmation Analysts to ensure adequate coverage of functions is maintained, especially during time of high volumes and/or staffing changes
Work with Management to establish appropriate and attainable goals for Confirmation Analysts and provide feedback on their performance
Review processes to ensure the adequacy and effectiveness of controls
Update procedures as required to mitigate risk / improve efficiency and ensure staff members are in compliance
Perform UAT testing for system upgrades / enhancements
Act as back up for all team members
What you need to succeed?
Post-Secondary education or equivalent
7 10 years of prior relevant experience.
Good knowledge of ISDA documentation definitions and the complexity of Derivatives transactions
Good knowledge of Derivatives Products in general, standard market practices and trading terminology
Good familiarity with the various processes involves in confirmation as well as support systems.
Excellent verbal and written communication skills
Demonstrate the ability to lead a cohesive team charged with effectively balancing the customer experience while managing operational and reputational risk.
Detail-oriented, strong time management and organization skills
Self-motivation, initiative, good attention to detail & high level of numeracy.
Analytical abilities and able to be pro-active to foresee potential problems.
The ability to adapt coaching and leadership style to staff
Whats in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
Leaders who support your development through coaching and managing opportunities
Work in a dynamic, collaborative, progressive, and high-performing team
Opportunities to do challenging work
Flexible work/life balance options
Job Skills
Customer Service, Customer Service Management, Decision Making, Interpersonal Relationship Management, Investment Performance Measurement, Operational Delivery, Process Improvements, Risk Management, Time Management, Treasury ManagementAdditional Job Details
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Inclusion and Equal Opportunity Employment
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