Salary and Benefits: £55,000 – 75,000 (subject to experience) + asset management bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays (pro-rated), plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more!

Reporting to: Middle Office Derivative Manager

Job Type: Permanent

Number of roles available: 2

Location: This role will be based in our Edinburgh offices, with time spent between home and the office, and some travel between our Phoenix offices. You can read more about Phoenix Flex here.

Please note, you will be notified about the status of your application, post - 1st October 2024.

We are pleased to announce an incredible opportunity to join us here at Phoenix Group as a Derivative Operations Specialist join our Middle Office team, part of the Asset Management function.

Who are we?

We want to be the best place that any of our 6,600 colleagues have ever worked.

We’re the UK’s largest long-term savings and retirement business. We offer a range of products across our market-leading brands, Standard Life, SunLife, Phoenix Life and ReAssure. Around 1 in 5 people in the UK has a pension with us. We’re a FTSE 100 organisation that is tackling key issues such as transitioning our portfolio to net zero by 2050, and we’re not done yet.

Context

Middle Office is a key support function for the Asset Management Front Office. It has wide ranging accountability ensuring operational control of investment activities, supporting the Group and AM governance framework, and delivery of investment reporting.

The role involves coordination of post trade lifecycle management across Phoenix Group entities for derivative products. Dedicated product support for the various Front Office functions, primarily the ALM team on trade execution, confirmation and post trade activities. Additionally, supporting Portfolio Implementation and Manager Oversight on a day-to-day basis, providing key operational input and guidance. A key focus will be on ensuring accurate and timely derivative data is stored through internal systems requiring coordination and direction of activities amongst internal functions and key outsourced service providers. In particular, the role will require continued build out and support in overseeing services provided by BlackRock Solutions via the Aladdin suite of products.

This role will suit an experienced SME, providing active participation on process improvement and operating model enhancements to achieve industry leading systems and controls across asset and fund classes. In the same SME capacity, participate in functional integration of legacy Phoenix risk carriers across procedures and platforms.

Key Responsibilities

Derivatives Oversight – Ensuring that derivative operational activities are completed and providing ownership to resolve any outstanding issues.
Derivative Data – Ensuring that derivative trades are correctly captured in internal systems.
Live Cycle Management – Performing middle office control on direct derivative trading. (confirms, income and resolving trade flow issues)
Onboarding
New Systems – Working with our third-party providers to onboard new system capability and set up internal processes to utilise the tools available.
Become the SME support in the new instrument onboarding process.
Risk and Control – Developing processes and procedures to make sure our derivative operations are functioning within our policy standards.
Regulatory - Supporting the business in meeting regulatory requirements.
Integration - As key SME, support integration of new business lines emanating from closed book acquisitions, open book, and BPA activity
The role interacts frequently with the following parties:
Internal Functions: Markets & Products, Portfolio Implementation, AM Manager Oversight, Middle Office, Cash Management, Investment Operations, Risk Management, & InVista Development Team
External Parties: External Portfolio Managers, Third Party administrators, Platform Service Providers, Custodians, Clearing Brokers & Trading Counterparties.

What are we looking for?

Personal Attributes & Skills

Diligent working style with attention to detail and high standards for quality
Excellent analytical and problem-solving skills with holistic financial thinking
Excellent organisational and project management skills
Very good skills in preparing well structured, clean, consistent and client focussed presentations and management information reports
Agility and vision to adapt processes in an ever-changing environment
Good communication skills, with the ability to collaborate across a wide range of stakeholders and maintaining effective relationships
Self-starter and independent worker with strong sense of ownership, capable of delivering, driving and shaping results and to meet deadlines under pressure
Proficient use of MS Excel, Word, PowerPoint and ideally the Aladdin platform

Experience

Experience in financial services industry
Experience of managing Derivative products from a middle office or back office perspective
Understanding of pre trade governance – strategy / investment guidelines / mandates
Trading activity – execution and trade capture
Operational activity – trade enrichment / validation, confirms, transaction reporting, settlement, reconciliations
External services – custodian / clearing broker / trade counterparty interactions
Regulatory considerations e.g. EMIR / TCF / Conduct of Business Rules

Knowledge

Knowledge of the trade lifecycle of derivatives including derivative documentation (ISDA/CSA and central clearing agreements)
Functional knowledge of end to end investment management technology / operating models, and downstream consumers / value chain
Strong knowledge across investment products inc. complex derivative structures
Practical experience with business transformation projects, such as onboarding of investment managers, products (cash and derivatives, potentially structured products) or portfolio restructurings

We want to hire the whole version of you.

We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you.

If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.

Find out more about #LifeAtPhoenix

Guide for Candidates: thephoenixgroup.pagetiger.com/guideforcandidates
Find or get answers from our colleagues: www.thephoenixgroup.com/careers/talk-to-us

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Operations jobs in Edinburgh

Derivative Operations Specialist, Asset Management