Senior Analyst, Derivatives Confirmations, CA
City : TORONTO, Ontario, Canada
Category : Operations
Industry : Financial/Banking
Employer : RBC
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Job Title
Job Description
Protect the Bank’s integrity and reduce risk of loss by ensuring that all Derivative transactions completed are valid deals and correct with respect to financial details and all other relevant binding details; promptly notifying traders and management of missing or erroneous trades.
Develop and maintain an understanding of ISDA definitions & any applicable supplements related to derivatives transactions. Ensure that documentation complies with ISDA and current market practice to prevent, detect, and eliminate the potential for risk and liability to the firm.
Perform daily review to ensure all confirmations are drafted, dispatched and executed in accordance with procedures, Standing Orders and regulatory guidelines (e.g. CFTC & ESMA).
Act as escalation contact for aging outstanding trades / issues. Further escalate as necessary to Sales / Trading, Credit Risk and Senior Management.
Work with Sales / Trading regarding issues arising from the booking of transactions, initiate recommendations to reduce errors.
Liaise as necessary with Management, Legal, Documentation and FO regarding new and non-standard confirmation templates and new client requests. Ensure proper documentation of all approved templates and applicable operational procedures. Research source of commodity prices and the appropriate commodity description for new commodity products traded.
Monitor counterparty set up process to ensure appropriate controls are in place to mitigate risk of setting up clients where KYC and due diligence is not yet completed.
Provide effective supervision and leadership to the Confirmation Analysts.
Assist Management with the development and cross-training Confirmation Analysts to ensure adequate coverage of functions is maintained, especially during time of high volumes and/or staffing changes.
Work with Management to establish appropriate and attainable goals for Confirmation Analysts and provide feedback on their performance.
Maintain product and operational procedures on an on-going basis. Review processes to ensure the adequacy and effectiveness of controls. Update procedures as required to mitigate risk / improve efficiency and ensure staff members are in compliance.
Perform UAT testing for system upgrades / enhancements.
Act as back up for all team members.
Perform metrics reporting and action regulatory reporting obligations (LTR/OCR)
Skills
Good knowledge of commodity derivative transactions and strong understanding of the complexity of derivative transactions
Good knowledge of ISDA documentation definitions
Good knowledge of Derivatives Products in general, standard market practices, and trading terminology
Good familiarity with the various processes involves in confirmation as well as support systems.
Excellent verbal and written communication skills
Detail-oriented, strong time management and organization skills
Self-motivation, initiative, good attention to detail & high level of numeracy.
A good communicator, with an ability to be concise.
Analytical abilities and able to be pro-active to foresee potential problems
An ability to identify collaboration opportunities with our internal partners.
Team player
Job Summary
The primary focus of the role is to provide trade confirmation and static data coverage in order to mitigate legal, economic and operational risk between RBC and our counterparts. The Senior Analyst also provides supervision to the other Analysts within the team, ensuring that quality service is provided and that the Bank is represented in a professional manner at all times.
This role is part of the global Market Business and Client Services Derivatives Confirmation Group that covers asset classes including Commodities, Credit, Equities, FX, Loans, Rates, and any hybrids thereof.
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