We are looking for a Middle Office Officer to join the Middle Office team within the Middle and Back Office division. The selected candidate will help monitor, check, and process transactions from our three Front Offices (Investment, Funding, and Lending). The selected candidate will report to the Head of Middle and Back Office and Portfolio Performance.
The European Stability Mechanism (“ESM”) is the permanent crisis resolution mechanism for euro area countries. In the context of the current Covid-19 crisis, the ESM has established a precautionary credit line as one important element in the joint European response to the pandemic. During the euro crisis, it launched six financial assistance programmes in five countries, providing financial support, monitoring repayment capacity, and engaging with partner institutions for programme design. As part of its mandated activities, the ESM issues euro-denominated debt and has a large global investor base. The ESM recently received an expanded mandate from European leaders, which it will implement in the months and years ahead. The ESM will act as the backstop to the Single Resolution Fund (SRF) and play a stronger role in financial stability risk analysis and the design of policy measures in programmes, jointly with the European Commission.
The ESM is a unique place to work with around 220 individuals committed to making a difference to the future of the euro area. It recruits talented professionals of all nationalities from both the private and public sector.
KEY ACCOUNTABILITIES
- Validate trades logged into financial software before sending them to the Back Office(s) for settlement:
- Check the completeness and correctness of transactions booked by the Front Office, including collateral movements;
- Ensure that limits and internal guidelines are respected;
- Support the rest of the team in organising Middle Office activity so that financial operations in the system are in line with orders or specifications from the Funding, Lending, and Investment divisions.
- Manage Murex Data:
- Manage static and market data required for the execution of transactions and collateral movements. This includes, for example, the set-up and maintenance of counterparty, instrument, and calendar data, the assurance of correct prices, curves, and indices, the set-up of limits and of lending contracts hierarchy, as well as the entry and maintenance of CSA static data.
- Perform reporting activities:
- Ensure timely and accurate availability of portfolio valuation information to produce reports for management;
- Report in a timely manner to the Head of division and Risk team on any breach of investment guidelines, operational risk issues, or limit transgressions.
- Take part in the initiatives that aim at further developing the ESM in line with its annual strategic objectives, such as, for example, the implementation of new instruments, tools, and systems:
- Assist with the business case definition;
- Define and test requirements;
- Validate the translation of business requirements into information technology (IT)specifications;
- Work in close collaboration with relevant internal and external stakeholders to deliver project objectives.
- Contribute to other activities:
- Develop and maintain processes, procedures, and the financial software environment to ensure safe recording and adequate checks on financial operations;
- Monitor operational risk with relevant internal risk staff (identification of risks, definition of adequate control processes, follow-up of incident database and possible action plans);
- Review lending documentation;
- Automation of manual processes and workflows.
KEY BACKGROUND & EXPERIENCE
- University degree or equivalent, preferably in finance, banking, or economics
- Minimum 1 year of relevant experience, including processing financial instruments in a middle office function or in financial data analysis
- Good understanding of financial products, including valuation, with an emphasis on fixed income and related derivatives
- Programming skills in VBA or any other programming language are desired
- Experience in using the IT systems that are prevalent in banking and/or trading and/or portfolio management, including position management and order management, in an asset management environment is an asset
- Experience with Murex is an asset
- Experience in collateral management is an asset
- Previous experience in process automation via IT solutions is an asset
- Professional risk management or investment analyst qualification is an asset
- Fluency in English is required; any other additional language is an asset
KEY COMPETENCIES
- Reliability and flexibility
- Teamwork and collaboration
- Self organised, including attention to detail
- Communication and interpersonal skills
- Risk awareness and management
Contract duration: Two-year fixed term contract
The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation or disability. To further enhance the diversity of our workforce, we particularly encourage women to apply.
this job offer is not open for applications
