Operations Specialist - Futures

Job Function Summary

The Operations Specialist role will support trading activity of portfolio managers trading listed Futures and Options on Futures.  The role will primarily focus on clearing & reconciliation, with primary responsibilities targeted towards US exchange (CME/CBT) trade clearance, trade booking, and lifecycle/event management of futures/future option trades and positions.  The candidate should have subject matter expertise in the intricacies of futures clearing, exchange clearing systems, the management of lifecycle events related to futures/options on futures for US (CME/CBT) exchanges, and management/booking of EFRP & Block trades at the exchange.  The candidate should be open to working during off-hour shifts.  Some late nights and weekends are required.

Principal Responsibilities

• Oversee trade clearance of futures/options on futures on US Exchanges; with primary focus on CME/CBT markets
• Liaise with Executing Brokers and clearing firms for break resolution on T0/T1.  Resolve out-trades and breaks with opposing firms.  Default and suspense trade management of trades and positions
• Set-up/maintenance of accounts, EB, & counterparty static in internal/external trading & clearing systems.  Ensure proper controls are in place to effectively manage trading and clearing risk
• Manage EFRP & Block trade submission, booking, and settlement at the exchange.  Ensure trades are properly booked in internal/external systems and follow all exchange/regulatory requirements
• Manage lifecycle events for the firm’s futures positions.  Notify PMs of early/contra option assignments & ensure positions are properly reflected in internal booking systems for these events
• Coordinate amongst various internal and external stakeholders, to efficiently and effectively maintain controls, mitigate risk, and resolve trade/position related issues
• Participate in ad-hoc projects/initiatives and work with colleagues across the firm to implement process changes/improvements
• Establish working relationships with trading teams in order to answer daily queries in a prompt and controlled manner

Qualifications/Skills Required

• Minimum 10+ years of relevant experience in Financial Services
• Experience in Clearing Operations at a Broker/Dealer and/or FCM
• Knowledge for Futures back-office clearing systems is a must.  GMI/FIS CD/Clearvision/CME Clearport/CME Direct/Front-End Clearing (FEC)/OCR
• Strong working knowledge of Microsoft Excel/Office.  Comfortable using Macros/Pivot & working with large data sets
• Strong communication and interpersonal skills
• Ability to implement and maintain new processes, procedures, and controls
• Fast learner with the ability to multi-task and work under pressure to meet strict deadlines

• Ability to work independently, with a strong attention to detail and ownership