Job Information
MUFG Assistant Vice President, Derivative Confirmations SME in London, United Kingdom
Do you want your voice heard and your actions to count?
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 160,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.
Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
MUFG (Mitsubishi UFJ Financial Group) is one of the world's leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in over 50 countries including the Americas, Europe, the Middle East and Africa, Asia and Oceania, and East Asia. The group has over 150,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
As one of the top financial groups globally with a vison to be the world's most trusted, we want to attract, nurture and retain the most talented individuals in the market. The size and range of MUFG's global business creates opportunities for our employees to stretch themselves and reap the rewards, whilst our common values, to behave with integrity and responsibility, and to build a culture which is fair, transparent, and honest, underpin everything that we do.We aim to be the financial partner of choice for our clients, whatever their requirements, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. The group’s operating companies include, but are not limited to, Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking (Japan's leading trust bank), Mitsubishi UFJ Securities Holdings (one of Japan's largest securities firms), and MUFG Americas Holdings.
Please visit our website for more information - mufgemea.com.
The Operations division is core to all of MUFG’s business activities. With employees based in London, New York and Hong Kong, the function consists of five pillars Middle Office, Business Management, Transaction Processing, Clearing and Settlement, and Operational Control. A diverse product range is covered including Equities, FX, Fixed Income, and Derivatives.
The division has a wide range of responsibilities including oversight of the business and our ability to achieve strategic goals via our change program; interface to the business, customer, branch and agent network; managing the processing lifecycle for trades and transactions from the single touch, single entry items through to the complex, multi-entry trades; providing a shared service/utility function by receiving the output of Transaction Processing and executing the cash and/or clearing of processed transactions; independent control function ensuring Transaction Processing and Clearing & Settlement Services execute appropriate controls to mitigate regulatory and operational risks. Operations also plays an instrumental role in business development and the introduction of new products and markets
MAIN PURPOSE OF THE ROLE
The Confirmation team provide support to MUFG Bank, MUFG Securities EMEA plc and MUFG Securities (Europe) N.V., Sales and Trading groups, facilitating accurate and timely confirmation of all (non-electronic platform) OTC Derivatives, as well as providing pre and post trade technical guidance and expertise with regards to interpretation and drafting of templates and pre-trade confirmations.
The team acts as an important link between the Front Office, market counterparts and Legal Dept. and is key to ensuring transactions are accurately confirmed, matching both economic intention as well as trade bookings.
The role demands a high level of external client focus in order to efficiently satisfy their diverse range of requirements and provide a service which out performs our immediate competitors.
The role demands attention to detail and the ability to perform a diverse multitude of pre and post trade execution tasks to support our internal and external client needs and requires strong derivative knowledge, technical expertise and understanding of the relevant ISDA/FBF/DRV definitions and a clear understanding of front to back transaction workflows and their associated controls.
KEY RESPONSIBILITIES
Dispatch and execution of confirmations for OTC derivative transactions, in accordance with applicable regulatory deadlines.
Affirmation, chasing and validation of counterparty confirmations, ensuring all details are correspond to the details specified in the risk booking system as well as, any supplemental trade information sources.
Investigation, tracking and resolution of client queries and outstanding confirmation issues.
Point of contact both internally and externally, providing expertise and guidance concerning all confirmation queries.
Pre-trade drafting, negotiation and review of confirmations with clients/external counsel, working closely with Front Office and Legal Department to agree confirm templates prior to trade execution.
To ensure systems accurately reflect the correct confirmation status.
To ensure that management are kept informed of all major issues
To learn applicable ISDA/FBF/DRV Definitions and to continue development of product knowledge.
To liaise with traders, legal, other members of operations and counterparties as and when necessary in order to resolve outstanding issues thoroughly and efficiently.
To assist other members of the documentation group when necessary.
To assist with ad-hoc projects when necessary.
Build relationships throughout MUFG to establish a peer network, gather relevant information and help to ensure effective inter-departmental collaboration.
Operate as product specialist providing subject matter expertise where required.
WORK EXPERIENCE
Essential:
Extensive hands on experience of drafting and/or matching derivative confirmations
Extensive experience of client interaction – chasing, affirmation, negotiation and query resolution
Extensive knowledge of all derivative assets classes, specifically equity, structured rates and FX, with ability to draft bespoke language for non-standard products, in line with the applicable ISDA Definitions
Preferred:
Track record in creating efficiencies and streamlining processes and systems
Good working knowledge of Regulatory environment – Dodd Frank, EMIR, including Timely Confirmation Deadlines
Knowledge of FBF/DRV Definitions and templates for derivatives
Experience of MCA negotiation, preferably for equity derivative products.
SKILLS AND EXPERIENCE
Functional / Technical Competencies:
Essential
Wide knowledge base covering Equity, Interest Rate, FX, Inflation and Credit Derivatives, both vanilla and structured products.
Excellent understanding and knowledge of the ISDA Definitions for all asset classes.
Excellent understanding of Operational Risk and Control
Excellent communication skills
Excellent Microsoft Office skills, including strong Excel knowledge
Preferred:
Understanding and knowledge of FBF/DRV/CMOF Definitions advantageous.
Experience of DTCC DSMatch and SWIFT MT305 electronic message platforms
Murex knowledge
Education / Qualifications:
Essential
- Bachelor or Master’s Degree in a technical or appropriate field of study (Economics, Mathematics, Finance, Engineering, etc.)
PERSONAL REQUIREMENTS
Excellent communication skills
Results driven, with a strong sense of accountability
A proactive, motivated approach.
The ability to operate with urgency and prioritise work accordingly
Strong decision making skills, the ability to demonstrate sound judgement
A structured and logical approach to work
Strong problem solving skills
A creative and innovative approach to work
Excellent interpersonal skills
The ability to manage large workloads and tight deadlines
Excellent attention to detail and accuracy
A calm approach, with the ability to perform well in a pressurised environment
Strong numerical skills
Excellent Microsoft Office skills
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.
At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative. They reflect who we are, who we want to be and what we expect from one another. We are excited to see you take the next step in exploring a career with us and encourage you to spend more time reviewing them!
Our Culture Principles
Client Centric
People Focused
Listen Up. Speak Up.
Innovate & Simplify
Own & Execute