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Basic Purpose of Job:
Fixed Income and Derivatives Portfolio Administration provides operational investment support to the Portfolio Managers within SSgA. Reporting to the Head of Fixed Income Portfolio Administration you will be responsible for our OTC Derivatives Team.
The functions of the team would include but not be limited to:
• Daily Valuation of the OTC Positions. Maintenance of valuation models.
• Daily Position and Market Value Reconciliations. Investigation of any exceptions.
• Collateral Management. Understanding of CSA required.
• Trade Confirmation. ISDA Documentation. Markit Wire / Markit SERV (DS Match)
• OTC Lifecycle Event processing and related settlements.
• Verification Fund Valuations. NAV Reconciliations.
• Performance calculation and query resolution.
• Investigating and resolving queries from Counterparties, Clients, Performance Analysts, Reconcilers and Portfolio Managers.
The functions of the role would include but not be limited to:
• Completing daily work where required.
• Oversight of daily processes and functions of the team.
• Identifying opportunities and implementation to enhance the current processes and procedures to strengthen SSgA's controls and minimize risk.
• New product and fund support - developing operational processes and controls to implement new products and strategies.
• Initiating and managing system developments and enhancement
• Keeping abreast of OTC market developments.
• Management functions for example goal setting and performance review.
Products Traded include Credit Default Swaps, Interest Rate Swaps(including Inflation Linked), Basis Swaps, Asset Swaps, Total Return Swaps, Equity Options. The volume of derivatives traded is relatively small but the deals are often less vanilla structures which require a solid understanding of the OTC market.
Key external interactions will be with counterparties, fund administrators, custodians and other third party providers. Internally interactions would be with fund managers, traders, compliance, risk, trade support, legal, technology, and client administration.
Job Requirements:
Education and Experience
• OTC Operations experience gained from an investment bank, hedge fund, or fund administrator.
• Degree qualified or equivalent with a financial or analytical discipline preferred.
• Product Experience Desirable: Bonds, Equity, FX spot and forwards, Exchange Traded Futures and Options, Interest Rate Swaps, Currency Swaps, Credit Default Swaps, CDO's, Total Return Swaps, Swaptions, High Yield Debt, Convertible Bonds, Repurchase Agreements.
• Exposure to inflation linked products an advantage.
Skills/ Knowledge
• Proactive. Willing to assume responsibility and take ownership of tasks assigned.
• Ability to prioritize multiple responsibilities to meet internal and external deadlines.
• Supervisory or Management Experience.
• Analytically minded with strong problem solving skills
• Recent experience within OTC Operations function.
• Experience or a solid understanding of OTC Valuation.
• Performance measurement experience useful.
• Ability to build strong relationships with both internal and external clients.
• Exposure to Sungard Front Arena, Markit, and Bloomberg an advantage.
• Strong MS Windows applications, specifically Excel.
Manager - OTC Derivatives Portfolio Administration (London, Canary Wharf)
Basic Purpose of Job:
Fixed Income and Derivatives Portfolio Administration provides operational investment support to the Portfolio Managers within SSgA. Reporting to the Head of Fixed Income Portfolio Administration you will be responsible for our OTC Derivatives Team.
State Street is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $16.4 trillion in assets under custody and administration,* and $1.6 trillion under management*, State Street operates in 27 countries and more than 100 geographic markets worldwide.
*As of June 2009
The functions of the team would include but not be limited to:
• Daily Valuation of the OTC Positions. Maintenance of valuation models.
• Daily Position and Market Value Reconciliations. Investigation of any exceptions.
• Collateral Management. Understanding of CSA required.
• Trade Confirmation. ISDA Documentation. Markit Wire / Markit SERV (DS Match)
• OTC Lifecycle Event processing and related settlements.
• Verification Fund Valuations. NAV Reconciliations.
• Performance calculation and query resolution.
• Investigating and resolving queries from Counterparties, Clients, Performance Analysts, Reconcilers and Portfolio Managers.
The functions of the role would include but not be limited to:
• Completing daily work where required.
• Oversight of daily processes and functions of the team.
• Identifying opportunities and implementation to enhance the current processes and procedures to strengthen SSgA's controls and minimize risk.
• New product and fund support - developing operational processes and controls to implement new products and strategies.
• Initiating and managing system developments and enhancement
• Keeping abreast of OTC market developments.
• Management functions for example goal setting and performance review.
Products Traded include Credit Default Swaps, Interest Rate Swaps(including Inflation Linked), Basis Swaps, Asset Swaps, Total Return Swaps, Equity Options. The volume of derivatives traded is relatively small but the deals are often less vanilla structures which require a solid understanding of the OTC market.
Key external interactions will be with counterparties, fund administrators, custodians and other third party providers. Internally interactions would be with fund managers, traders, compliance, risk, trade support, legal, technology, and client administration.
Job Requirements:
Education and Experience
• OTC Operations experience gained from an investment bank, hedge fund, or fund administrator.
• Degree qualified or equivalent with a financial or analytical discipline preferred.
• Product Experience Desirable: Bonds, Equity, FX spot and forwards, Exchange Traded Futures and Options, Interest Rate Swaps, Currency Swaps, Credit Default Swaps, CDO's, Total Return Swaps, Swaptions, High Yield Debt, Convertible Bonds, Repurchase Agreements.
• Exposure to inflation linked products an advantage.
Skills/ Knowledge
• Proactive. Willing to assume responsibility and take ownership of tasks assigned.
• Ability to prioritize multiple responsibilities to meet internal and external deadlines.
• Supervisory or Management Experience.
• Analytically minded with strong problem solving skills
• Recent experience within OTC Operations function.
• Experience or a solid understanding of OTC Valuation.
• Performance measurement experience useful.
• Ability to build strong relationships with both internal and external clients.
• Exposure to Sungard Front Arena, Markit, and Bloomberg an advantage.
• Strong MS Windows applications, specifically Excel.
We at SSgA offer our customers the highest possible standards of service and fully support the Financial Services Authority initiative of 'Treating Customers Fairly'.
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