The Role
Manage options middle office operations including trade capture, settlements, reconciliations and support for equity and crypto options. Ensure efficient workflows and process improvements while collaborating with teams.
Summary Generated by Built In
It’s rare that a new asset class is born. Nevertheless, we’re witnessing exactly that with the rise of crypto. Over just the last few years, since Bitwise was founded, crypto has evolved from an embryonic $50B market to a growing $3T+ juggernaut. At Bitwise, we believe that crypto has reached a turning point, and is headed north of $10T over the next few years.
This is an exciting moment for Bitwise as a firm. For eight years, we have established a track record of excellence managing a broad suite of index and active solutions across ETFs, separately managed accounts, private funds, institutional staking, and hedge fund strategies. This year, we crossed $15B in client assets and are growing quickly. Thousands of financial advisors, family offices, and institutional investors partner with Bitwise to understand and access the opportunities in crypto. We are known for providing unparalleled client support through expert research and commentary, a nationwide client team of crypto specialists, and deep access to the crypto ecosystem.
Currently, Bitwise is a close-knit team of 100+ global professionals. Think of us as a mix of an asset manager and a tech start-up. We’re backed by some of the most accomplished investors in venture capital and veterans of the financial services world. We love working together, we love what we do, and we’re excited about what’s ahead.
We’re looking for an exceptional individual to join our team and take on important responsibilities to help Bitwise scale. Primary focus will be on Equity and Crypto Options Middle Office, responsible for derivative trade capture, trade confirmations, settlements, reconciliations and position life-cycle events within the firm’s options trading activities.
Experience covering all aspects of equity options is a must.
The role will also have exposure to equities, futures, digital assets and other products. You will report directly to the Head of Fund Operations and will work with our internal systems, portfolio managers, accounting team, service providers to continuously deliver excellence on the core of what we do: supporting our professionally managed crypto investment products. You will play a key role in supporting existing and new funds and in bringing novel, new and innovative products to market. There will be a lot to learn, a huge impact to be had, and some lifelong relationships to be built along the way.
Primary Responsibilities:
- Own and manage all aspects of option middle office lifecycle, including exercises and assignments, contras, trade affirmation, settlement and reconciliation
- Provide end-to-end support for equity and crypto options trades, from execution through clearing, settlement, and post-trade analyticsValidate, process and settle all life cycle events to ensure the integrity of the trade and positions
- Perform position and cash reconciliations
- Perform trade affirmation with counterparties to minimize risk
- Monitoring T+0 trade capture exceptions
- Processing option assignments, expiries and contras
- Collaborate with traders, operations teams, and tech teams to resolve trade breaks, confirm allocations, and ensure accurate position posting
- Ensure operational processes are fully documented, tested and adequately supported
- Assist with new product and new fund launches
- Build scalable workflows and processes with automation in mind
- Evaluate systems i.e. Traiana and NYFIX for potential fit and implementation
- Drive projects to increase efficiency and contribute to ongoing process improvements
Role Requirements:
- You have 3-10 years of options Middle/Back-office experience covering trade capture and processing, collateral, confirmations, settlements, cash, position and trade reconciliations.
- You have demonstrated proficiency in all types of options included Listed, FLEX, OTC, etc.
- You have proficiency in all calculations used to support options instruments.
- You have exceptional Excel skills and/or programming / automation skills: Proficiency in programming languages (language is irrelevant) with experience building out automated and scalable processes for position and trade reconciliation, break monitoring and alerting, and operational reporting workflows to reduce manual intervention and operational risk.
- You understand the relevant technology and applications that are required to excel in the role.
- You understand operational risk controls and regulatory requirements for options trading.
- You have a strong analytical mindset with the ability to identify operational inefficiencies, challenge existing processes both internally and with external partners, and drive continuous improvement initiatives.
- You are self-motivated, flexible, team-oriented with fresh ideas and thrive in a fast-paced, dynamic environment.
- You understand the importance and value of our team concept, where you establish long-lasting organizational relationships that will foster a productive work environment.
- You have strong written and verbal communication skills.
- You have the ability to juggle multiple priorities and responsibilities.
- You have a nose for identifying operational risk and surfacing issues, then solving them.
What We Offer:
- Compensation: $80,000-$100,000 salary
- Equity compensation as a component of all offers
- Health insurance, including dental and vision plans
- Health, Dependent Care, and Commuter Flexible Spending Accounts
- Paid Parental Leave
- Life insurance; short- and long-term disability plans
- Company funded 401(k) plan, no matching required
- Unlimited PTO
- 10 paid company-wide holidays
- Office spaces in San Francisco and New York
- Meals and snacks provided in the office
- Paid company cell phone
- Bitwise “Buddy” program (30-day new-hire success program)
- Annual birthday and anniversary gifts
- Company-wide events including the annual holiday party
- Internal Women of Bitwise group with fun events
Bitwise is an equal opportunity employer. We are committed to building a team of people with a variety of backgrounds, perspectives, and skills. It is the policy of Bitwise to ensure equal opportunity. All candidates are considered without regard to race, color, religion, national origin, age, sex, sexual orientation, gender identity, marital status, ancestry, physical or mental disability, veteran status, or any other legally protected characteristics.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
Top Skills
Excel
Nyfix
Programming Languages
Traiana
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The Company
What We Do
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers. As of May 7, 2021, Bitwise managed over $1.5 billion across an expanding suite of investment solutions. The firm is known for managing one of the largest crypto index funds (OTCQX: BITW), the first crypto industry ETF (NYSE: BITQ), and pioneering products spanning DeFi, Bitcoin, Ethereum as examples. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing—coming from firms including BlackRock, Blackstone, Facebook, and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron's, Bloomberg, and The Wall Street Journal.
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