8866-Market Control-MIddle Office(HE) (closed)

Jersey City, NJ
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Job Description

Overall Purpose of Job:

Primary responsibility is to manage the middle office operations related to Stable Value Fund Wrap Business.

Utilize industry experience in Asset/Value Fund Wraps (Stable Value Fund Wraps), and major Asset/Value Fund Managers. in directing and managing the day to day middle office functions related to the maintenance of SVF wrap contracts .

Ensure that all services, operations, reporting requirements and all related interdepartmental downstream processes effectively satisfy applicable customers, organizational and/or regulatory requirements

Thoroughly understand the processing system.

Requires ability to rapidly take-over a fast paced position to accurately and efficiently service the banks Stable Value Fund Wrap business.

Will plan, develop, administer, and coordinate all the group's functions, projects, and services. Responsible for cross-training and motivating staff including (a) goal setting and (b) performance measurement and improvement.

This position requires a thorough knowledge of operations, its related operating systems, and in GAAP accounting. Knowledge of, and/or experience in Stable Value Fund businesses [or Capital Markets] in the United States is required.

Microsoft Office Suites knowledge, Access, VBA, V-look up, Pivot tables, Macros

Supervise, manage and maintain that the below operational functions are met within the prescribed time line as well as meet Middle Office policy and procedures:

     

  1. Manage PnL Reconciliation Controls:

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  1. PnL reconciliation and reporting: Daily PnL Sub-ledger to Ledger reconciliation

    2.  

     

  2. Identify and resolve breaks

    3.  

     

  3. Escalate and communicate identified breaks

    4.  

     

  4. Monitor and manage iMarks PnL and Risk related functions

    5.  

     

  1. Deal management and maintenance:

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  1. Perform Crediting Rate Reset Fixing: Approve within the system the Crediting Rate Reset fixing generated by the Valuation Tool

    2.  

     

  2. Closing Price upload/Market Data Snap

    3.  

     

  3. Static Data set-up and inputs

    4.  

     

  1. Manage and monitor all other reporting requirements:

    2.  

     

  1. Prepare daily and monthly PnL and risk activity reports for senior management.

    2.  

     

  2. Monitor and manage iMarks PnL and Risk related functions

    3.  

     

  1. Establish Controls and Procedures per market industry standards

    2.  

     

  1. Write manuals and procedure

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  2. Oversee the revision and implementation of procedures and/or routines, supporting local and or Head Office policy objectives.

    3.  

Identify and implement programs, projects, and tactics, providing the means and metrics for achieving the planned results.

When applicable:

     

  • Personnel Management which includes: (a) selection and placement of newly hired staff members and (b) direct oversight of the training & development, performance evaluation, and disciplinary processes.

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  • Performance Management which includes: (a) establishing standards of performance (b) measuring current performance and comparing it against established standards and (c) identifying and implementing corrective measures to narrow the gap between planned and actual performance.

1) Knowledge and direct experience in the Stable Value Fund Wrap business in a middle office or a back-office capacity with a major financial institution

(2) 5 10 years experience in an middle office operational area, with supervisory responsibilities

(3) Knowledge of Accounting & Asset Value Fund Business

(4) Basic knowledge of derivatives

 

1) College graduate

(2) Securities, Banking or Stable Value Fund background

(3) Knowledge of Microsoft Office, Access, V look-ups, VBA, Pivot tables