Clearing Analyst

JR United Kingdom; London; On-site; GBP 45,000 - 75,000; Full time

Job description

Working as a member of the EMEA Financial Operations team, the successful candidate will play a key role in the day-to-day functions across various teams within Clearing Operations and will also be involved in a wide variety of projects and process enhancements. The products covered are diverse, with a primary focus on metals; however, the role also includes coverage of oil derivatives, European power and gas, emissions, and FX.

Responsibilities:

• Act as the team’s LME and metals expert, engaging both internally and externally with stakeholders to lead the processing of various lifecycle events.
• Support the wider clearing team in processing non-metals products.
• Complete intra-day and end-of-day (EOD) controls to ensure all processes are running smoothly and that all trades are correctly feeding from the source to the books and records system.
• Demonstrate experience and knowledge of brokerage and broker rate agreements.
• Respond to ad hoc requests from Middle Office/desks regarding positions and broker setup requests.
• Exchange/CCP and broker reconciliations.
• Understand and report listed options and futures expiries to the trading desks and Middle Office, ensuring awareness of risks associated with expiry processes on expiry day.
• Review KPIs daily to ensure aged items and outstanding issues are resolved in a timely manner.
• Ensure that all risk items are prioritized and escalated as appropriate.
• Work closely with multiple teams within the organization and across multiple locations (IT, Credit, Scheduling, Trading, Middle Office, Trade Finance).
• Maintain a good level of understanding of MiFID II regulations to ensure proper monitoring of MiFID obligations.
• Present business cases for self-driven initiatives and projects to senior management.
• Perform any other tasks as directed by your line manager.
• Analyze and develop team procedures in line with market requirements.
• Set up new entities on exchanges and with clearing brokers.
• Manage the transfer of positions across clearing brokers, clearing accounts, and exchanges, representing both internally and externally on exchange/clearing broker platforms.

Requirements:

• The ideal candidate will have 3+ years of experience in either clearing/listed derivatives operations or commodities operations, with a focus on metals.
• In-depth experience with LME exchange; exposure to COMEX and SHFE would be an advantage.
• Experience with LME trade booking, fees, deliveries, warrants, sifting, and other lifecycle events.
• Experience in the clearing/listed derivatives space and daily interactions with clearing participants.
• Strong derivatives product knowledge, including an understanding of the trade lifecycle of cleared/futures trades.
• Knowledge of other exchanges such as CME, EEX, or ICE would be advantageous but is not required.
• Prior exposure to, and understanding of, CCP and clearing broker margin calls.
• Ability to work independently without direct supervision while also collaborating effectively on team projects.
• Experience in the physical commodities market would be advantageous but is not required.

Skills:

• A positive approach to problem-solving.
• Excellent numerical skills and a strong attention to detail, accuracy, and quality.
• Ability to work under pressure and manage multiple priorities effectively.
• Confidence in one’s abilities.
• Strong analytical skills.
• Ability to work both independently and as part of a team.
• Effective communication skills at all levels of the organization.