Commodities Operations Support - New York, NY
Eclaro is looking for a Commodities Operations Specialist with both physical and financial commodities trade operations experience for a full time position with one of our banking clients in NYC.
This role has oversight for product management of Financial Market Commodity Operations.
· Ensure all prices which require fixing in NY working hours are done so in accordance with the fixing procedure and the product spec. Facilitate the build-out of automated fixings
· Ensure the timely checking of trades and subsequent validation/ pass back to Front Office. Target is validation of all trades on trade date and no operational losses
· Ensure all structured trades are booked following the agreed booking model and monitor all trade events and reporting requirements
· Assist IT to STP trades, including setting up auto validation rules and help develop reports to ensure trades are checked and validated on a priority basis, based on exceptions.
· Understand PNL derivation for all trades in order to facilitate the identification of incorrect trade details and enhance understanding of the trades being done. Use PNL Simulation Viewer to identify trade anomalies
· Perform timely reconciliation between internal trading systems
· Upload all source documents available at the time of trade validation into Filenet under the appropriate trade id
· Perform EOD control checks
· Participate in Projects
· Proactive in seeking regular assurance that areas of responsibility are performing to an acceptable risk and control standard
Market Knowledge: Awareness and understanding of the wider business, economic and market environment in which the firm operate. Excellent knowledge of Commodities products (Base and Precious Metals, Energy and Ags/ Softs) and main contracts traded. Must have experience of handling both OTC and exchange traded contracts with physical and financial settlement
Business Strategy and Model: Awareness and understanding of the firm's business strategy and model appropriate to the role
Risk Management and Control: The ability to identify, assess, monitor, control and mitigate risks to the firm. Also, an awareness and understanding of the main risks facing the firm and the role the individual plays in managing them
Financial Analysis and Control: The ability to interpret the financial behaviour of the products and instruments, identify key issues based on this information and put in place appropriate controls and measures.
Product Knowledge: Strong understanding of commodities products including Base Metals, Precious Metals, Structured Inventory Product, Energy. Financial and physical knowledge needed.
Process Management: In depth knowledge of the full end to end process management (Trade booking to trade settlement). This includes all the lifecycle events.
Operations Risk Management: Complete understanding of risks associated with operational processing, Client Static, Client On boarding (i.e. Due Diligence), Anti-Money Laundering and Sanctions processing
Equal Opportunity Employer: Eclaro values diversity and does not discriminate based on Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status.