Position Overview:
This role is responsible for conducting quality control reviews and internal audits of Middle Office operations & settlements to ensure adherence to regulatory requirements, internal policies and procedures, and best practices. You will review, identify, and assess risks associated with ops processes, evaluate the effectiveness of internal controls, conduct spot checks, and recommend improvements to mitigate identified risks and enhance process efficiency. We are looking to strengthen control mechanisms, mitigate potential risks, and enhance the overall integrity of our operational activities.
- Develop and execute quality control plans and internal audit programs for Middle Office functions, including trade processing, affirmation, settlement, reconciliation, and position management.
- Track and review the aged breaks.
- Conduct independent reviews and assessments of middle office processes, including trade data accuracy, completeness, and timeliness.
- Evaluate the design and effectiveness of internal controls over middle office operations, identifying potential weaknesses and recommending control enhancements.
- Assess compliance with relevant regulations, internal policies, and procedures, identifying and reporting any non-compliance issues.
- Analyze data and trends to identify potential risk areas and opportunities for process improvement.
- Prepare detailed audit reports outlining findings, recommendations, and action plans for remediation.
- Communicate audit findings and recommendations to relevant stakeholders, including management and senior leadership.
- Participate in the development and implementation of corrective action plans to address identified deficiencies.
- Stay abreast of regulatory changes, industry best practices, and emerging risks related to OTC Derivatives Middle Office operations.
Required Qualifications:
- Master’s degree in finance, Accounting, Risk Management, or a related field.
- Minimum 3-5 years of experience in quality control, internal audit, or risk management, preferably within the financial services industry.
- Strong understanding of OTC Derivatives markets and middle office operations with experience in NT-Omnium, Excel, MarkitWire, CTM, Traiana, NYFIX and Bloomberg.
- Solid knowledge of the trade life cycle, middle & back-office functions and proficiency in audit methodologies and risk assessment techniques.
- Excellent analytical and problem-solving skills.
- Strong communication and interpersonal skills, with the ability to effectively communicate findings and recommendations to various stakeholders.
- Proficiency in relevant software applications, including spreadsheets, data visualization tools, and audit management software.
- Strong attention to detail and a commitment to accuracy all while tracking operations activities to stay within TAT.
- Ability to Travel occasionally to other offices
Nice to Have:
- CIA, CFA or other relevant certifications are highly desirable.
- Knowledge of python and AI tools is desirable but not a must.
