Middle Office/Credit Derivative Specialist

Middle Office/Credit Derivative Specialist

BCforward is currently seeking a highly motivated "Middle Office/Credit Derivative Specialist" for an opportunity in US - NEW YORK, NY 10036

Position Title: Middle Office/Credit Derivative Specialist

Location: NEW YORK, NY 10036

Job Posting Expected Start Date: 04/28/2025

(Please note this is the target date and is subject to change. BCforward will send official notice ahead of a confirmed start date.

Expected Duration: 6 Months with possibility of extension

Job Type: 40 hours work week

Pay Rate: $50.00/hr - $54.00/hr on W2

Job Description

Summary
Responsible for managing the trade-capture workflow for the US Mortgage Trading Desk, with a focus on Derivatives, and related hedge products. Trade Control responsibilities include, but are not limited to, performing initial review of trade bookings; working with trading and sales to resolve discrepancies and ensuring proper flow into the system of record; facilitating monthly life cycle credit events and scheduled trade compressions; Perform reconciliation of trade positions and tasks associated with end-of-day controls. In addition, the role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, the role is an escalation point for the various Operations Teams, and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.
Position Description:
* Work in a fast-paced environment with direct communications with Trading Desk and Sales
* Monitor workflow in the primary trade capture system, as well as system of record
* Apply independent judgment and discretion when resolving trade discrepancies to ensure that the correct risk is always reflected in Front-Office Trading system and Back Office Risk Systems
* Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trade capture system, eg. Booking errors leading to fee discrepancies.
* Primary point of contact for the Front Office, Operations, and Finance on matters of significance
* Understand various idiosyncrasies and convention of Mortgage Indices in order to provide expeditious support
* Ensure internal risk positions are appropriately reflected to mitigate any risk to the firms capital
* Ensure initial trade bookings, trade amendments, allocations and novations occur in a timely manner to meet Real Time Reporting requirements
* Ensure trade bookings are compliant within existing regulatory frameworks such as Volcker CFTR, Swaps Push-Out, and UMR
* Responsible for global connectivity and communication with counterparts across various Line-of-Business to ensure consistency and alignment to target Control Standards within Trade Control
Basic Qualifications:
* Solid understanding of basic financial concepts such as time value of money, interest rate, mark-to-market
* Excellent Excel reporting-related skills
* Detail-oriented to operation trade flow, data entry, and data reconciliation
* Ability to liaise across multiple functional teams to resolve issues
* Ability to operate autonomously without direct supervision
* Ability to quickly analyze and make decisions in the event of a problem
* Ability to quickly grasp new industry practices and create/document new processes
* Strong organizational skills and ability to effectively prioritize multiple tasks
Desired Qualifications:
* 1 - 2 years of experience in the trade support and middle office space
* Knowledge of financial processing systems
* Understanding of the Best Practices and back-to-front product flow to manage Operational Risk
* Relevant industry product knowledge
* Proactive thought leadership to identify and deliver process improvements and efficiencies
* Knowledge of industry regulatory frameworks such as Volcker Reporting and DTCC Real-Time Reporting

Benefits:

BCforward offers all eligible employees a comprehensive benefits package including, but not limited to major medical, HSA, dental, vision, employer-provided group life, voluntary life insurance, short-term disability, long-term disability, and 401k.

About BCforward:

Founded in 1998 on the idea that industry leaders needed a professional service, and workforce management expert, to fuel the development and execution of core business and technology strategies, BCforward is a Black-owned firm providing unique solutions supporting value capture and digital product delivery needs for organizations around the world. Headquartered in Indianapolis, IN with an Offshore Development Center in Hyderabad, India, BCforward's 6,000 consultants support more than 225 clients globally.

BCforward champions the power of human potential to help companies transform, accelerate, and scale. Guided by our core values of People-Centric, Optimism, Excellence, Diversity, and Accountability, our professionals have helped our clients achieve their strategic goals for more than 25 years. Our strong culture and clear values have enabled BCforward to become a market leader and best in class place to work.

BCforward is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against based on disability.

To learn more about how BCforward collects and uses personal information as part of the recruiting process, view our Privacy Notice and CCPA Addendum. As part of the recruitment process, we may ask for you to disclose and provide us with various categories of personal information, including identifiers, professional information, commercial information, education information, and other related information. BCforward will only use this information to complete the recruitment process.

This posting is not an offer of employment. All applicants applying for positions in the United States must be legally authorized to work in the United States. The submission of intentionally false or fraudulent information in response to this posting may render the applicant ineligible for the position. Any subsequent offer of employment will be considered employment at-will regardless of the anticipated assignment duration.

Interested candidates please send resume in Word format Please reference job code 238516 when responding to this ad.