Posted on Mar 23, 2021 by Harvey Nash IT Recruitment Switzerland
For our client in Zurich we are searching for Operations Analyst for 8 months project
Job Title: Operations Analyst
Starting from: beginning of May 2021
Overview of business area or project:
FX/MM TV&C and Position Keeping area is responsible for processing Foreign Exchange (FX) and Money Market (MM) transaction in Operations/Back Office systems, and is responsible for providing FX rates to other internal bank application. This includes various tasks from monitoring pending transaction (order enrichment), processing cancel &correction to various controls in order to keep front and Back Office systems in sync.
As part of the.IBOR Transition project, the "FX/MM TV&C and Position Keeping" area has to support a manual workaround until the strategic automated booking solution is in place. The manual workaround will include a) booking of loans in Ops system based on data extract from Trading system, b) processing of various life cycle events in Ops systems based on data extract from Trading system, c) generating client confirmation, d) performing control tasks to keep trading and Back Office systems in sync.
*IBOR Transition project.
The transition away from Inter-bank Offered Rates (IBORs) and related benchmarks is considered one of the most significant changes in financial markets in recent years. Global efforts are underway to phase out IBORs as interest rate benchmarks and replace them with alternative 'risk-free' rates (ARRs).
- Book transactions - enter MM trades (Loans) into Operations systems based on data extract from Front Office system
- Lifecycle events - generate correct interest accruals and interest payments in Operations systems based on data extract from Front Office system
- Client confirmation - import trade data into Client Confirmation system to generate client confirmation
- Reconcile transactions (FOBO) - compare trade representation in Front Office (FO) and Back Office (BO) systems and arrange necessary action in case of mismatch (eg cancel and rebooking)
Overview of the department/team:
The FX/MM TV&C and Position Keeping team is a team of 10 located in Switzerland and consists of a wide variety of backgrounds and personalities. Our work environment is professional and friendly. We aim to fully integrate contractors into our team in all aspects.
Challenges Contractor will be facing in this role:
Considering the manual workaround with all its manual steps, the main challenge will be to keep manual errors to a minimum. Highest workload expected at month ends in order to guarantee correct figures being reported to Financial Accounting.
Essentials Skills and Qualifications:
- Banking Operations experience minimum 3 years of experience
- Sense of responsibility, ability to get things done within deadlines
- German and English speaking
Candidate Value Proposition:
Our Client offers an interesting opportunity to be part of the transition away from Inter-bank Offered Rates (IBORs) and go-live of new Money Market products that are based on the new Alternative Reference Rates.