Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a leading franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 36 offices worldwide, the Group has over 1,800 employees across Europe, Asia and America.
For more information visit www.marex.com
Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights and analytics.
The FX & IRS Middle Office serves the OTC FX, IRS and Metals business at MF. There are two main functions that are supported, these are the London-based FX, bullion business and the Chicago based FX business. Structured FX & Rates business, which is based in London, Dubai, & Milan. We also have Interest Rate Swaps (IRS) trading desk in London.
This role provides full and comprehensive support to the FX, Bullion & Interest Rate Swap (IRS) Traders plus Sales members of staff on a global basis, whilst ensuring the control and regulation aspects of the function are adhered to at all times.
Responsibilities:
General:
- Work to ensure proper global coverage around the clock, including Bank Holidays
- To maintain a good relationship and be aware of requirements of front office staff
- To maintain a good relationship between the team and all other Marex Spectron teams on a global basis
- To constantly review and improve processes to ensure that business flows are efficient and accurate
- To provide customer assistance relating to FX/IRS accounts & assist sales with business development
- To act as a single point of contact for all Audit / Compliance queries that come into the FX / IRS Middle Office
- Working closely with Clients, Banks and Prime Brokers with daily issues to ensure optimal communication and workflow between both parties and to assist with any enquiries that may arise
- To work closely with the Finance and Treasury departments on a daily basis to ensure a smooth workflow of payments and ongoing system integration into the GL
- Responsible for ensuring the global middle office team completes all duties and procedures
- Ensuring compliance with the company’s regulatory requirements under the FCA
- Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
- Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values.
- At all times complying with the FCA’s Code of Conduct
- To ensure that you are fully aware of and adhere to internal policies that relate to you, your role or any other activities for which you have any level of responsibility
- To report any breaches of policy to Compliance and/ or your supervisor as required
- To escalate risk events immediately
- To provide input to risk management processes, as required.
Agency FX & Bullion Middle Office:
- Daily trade support to FX & Bullion trading desks.
- Monitor cash flow blotters and resolve any issues
- Complete TomNext process to ensure customer positions are rolled correctly
- Convert customer residual balances
- Deal checks with customers
- Investigate and clear outstanding trades with Prime Broker
- Process daily option events
- Process daily NDF Fixing Events
- Ensure clients receive accurate Statements
- Compile and distribute various MIS information relating to P&L and client information
- Input of bullion trades into system (FSS)
- Management of system static data
- Creation and checking of regulatory reports
Structured FX & IRS Middle Office:
- To work closely with Sernova’s Operational teams.
- Provide answers to clients or internal/external stakeholders questions. Able to prioritize & escalate if answer is unknown.
- Margin Settlement between affiliates & clients resulting from IRS business.
- Process daily Coupon payments and any other settlements resulting from Structured FX Desk
- Monitor and process daily Option events & Rates coupons.
- Monitor daily IRS Trading and investigate with trading desk any issues.
Settlements Area:
- Agree netting with Counterparties, Prime Brokers & Clients
- Agree and manage DVP clients pay and receives
- Settlement Investigations
Skills and Experience:
- Experience of FX, Bullion markets & Interest Rate Swaps.
- Understanding of trade flow and processes of FX middle office
- Understanding of the FX/Option Life Cycle and resolve any anomaly on-route (Static Mapping & connectivity issues.)
- Understanding of Bullion Averaging
- Problem solving and analytical skills
- Excellent communication and influencing skills,
- Ability to develop and maintain relationships with internal and external customers
- MS Office skills, Knowledge in Python would be desirable but not essential
- A meticulous eye for detail
- The ability to work effectively under pressure in a busy environment
- Customer focused
- Enthusiastic team player: - respects and values the opinions of others
- Communicates well and assists others by sharing knowledge, delegation and experience
- Demonstrates flexibility and adaptability to changes in the environment
- Has the ability to make decisions based on facts and data
- Committed to continuous improvement
Competencies:
- French Speaker would be desirable but not essential
- Excellent verbal and written communication skills
- A collaborative team player, approachable, self-efficient and influences a positive work environment
- Demonstrates curiosity
- Resilient in a challenging, fast-paced environment
- Excels at building relationships, networking and influencing others
- Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness
If you’re forging a career in this area and are looking for your next step, get in touch!
Marex is fully committed to being an inclusive employer and providing an inclusive and accessible recruitment process for all. We will provide reasonable adjustments to remove any disadvantage to you being considered for this role. We value the differences that a diverse workforce brings to the company. We welcome applications from candidates returning to the workforce. Also, Marex is committed to avoiding circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.
If you would like to receive any information in a different way or would like us to do anything differently to help you, please include it in your application.
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What We Do
We are a diversified global financial services platform, connecting clients to global energy, metals, agricultural and financial markets. Across our businesses we provide critical high value-add services in Market Making, Execution and Clearing, Hedging and Investment Solutions, Price Discovery and Data & Advisory.
We have a leading franchise in many major metals, energy and agricultural products, executing around 38 million trades and clearing over 193 million contracts in 2021.
The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 22 offices worldwide, the Group has over 1,100 employees across Europe, Asia and America.
State-of-the-art electronic and voice broking services facilitate all types of trading strategies. This is backed by decades of experience, with Marex emphasising intellectual knowledge and insight, alongside access to extensive data sets and the latest analytical tools.
In addition to its core operations, Marex's scale and expertise in commodity derivatives, as well as physical products, has enabled it to respond to client demand and offer services for financial futures & options and foreign exchange.
