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Analyst, Middle Office

Posted: 8 Sep 2020 Closes: 22 Sep 2020
London, GB Competitive
Fixed term & Part time EBR_17844

Purpose of Job:

The Middle Office team supports the following activities in EBRD:
  • Daily Collateral margining of the Bank's derivatives portfolios; this is for mitigating counterparty credit risk the Bank has with our trading partners (both global investment banks and smaller counterparties from the countries of operation);
  • Market data management of the Bank's systems supporting Treasury and Banking transactions for valuation and risk management purposes;
  • Trade capture of all basic Treasury transactions to ensure the integrity of the Bank's trading positions;

The analyst role will be focused on providing operational support on the trade capture and collateral management aspect of the team's work. The role interacts daily with the Trading desks, Treasury Quants, IT, Accounting, Risk and Operations to provide expertise, analytical and technical support.

Backgrounds:

The Middle Office (MO) team within OSM:
  • Supports the framework and analytics used in the bank's collateral management and investigates collateral valuation discrepancy reviews.
  • Ensures correct representation of complex transactions in the banks trading systems and resolves problems encountered with P+L, cash-flow projections, settlement and market risk exposures.
  • Manages market data subscription processes to ensure the integrity of intraday market data in the Bank's systems and uses analytic techniques to review data quality.
  • Maintains a central role in the scoping, implementation and testing of upgrades to the Bank's core systems on behalf of OSM and to an extent Treasury. These core systems include Summit, MDR, Numerix and TAG.
  • Supports/undertakes the development of data processing and reviewing tools.
  • As subject area experts, supports bank-wide projects/initiatives such as the Libor Transition Project.
  • Continuous improvement through technology and process optimisation is a core aspect of Middle Office's work.

Facts and Scale:
  • Team is product owner for the banks collateral management system and associated processes. This system manages roughly USD 1.5 billion of daily derivatives exposure and commensurate securities/cash collateral holdings.
  • Team is product and operational owner of the bank's market data repository system which captures 60,000 market data points every 15 min through running 2,500 scheduled tasks.
  • The team has pivotal role in supporting Front and Back office departments in trade capture, market data and trade valuations.

Accountabilities and Responsibilities:
  • The Analyst works closely with the other members of the Middle Office team to provide analytical support on Treasury, daily P&L and trade valuation issues (predominately IR derivatives).
  • The Analyst supports the accurate representation of all Treasury transactions in the Bank's valuation systems (Summit) using analytic techniques to identify anomalies. This is of high importance towards supporting the bank's revenue generation and managing associated risks.
  • The Analyst supports the daily monitoring the bank's Market Data system in coordination with senior members of the team and troubleshoots problems here. This system is a router of market data to the Risk and Treasury valuation systems and so critical for managing the bank's exposure.
  • The Analyst supports the daily margining of the bank's Collateral Management system in coordination with senior members of the team.

Knowledge Skills/Experience
  • University degree in Mathematics, Finance, Computing or science-based disciplines
  • Strong interpersonal and communication skills in the English language, both written and spoken.
  • Knowledge in derivatives, fixed income and FX markets and valuation methods/paradigms.
  • Must have good Excel knowledge, coding skills such as Python/SQL beneficial.

Challenges:

The key challenge for this role is to ensure product control for Treasury transactions, and accuracy in the representation of trades and market data, in core systems as these are critical to the correct calculation of P+L, valuations, risk exposures and collateral management.

Diversity is one of the Bank's core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. As an inclusive employer, we promote flexible working.

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