Middle Office Administrator
MEDIOLANUM BANKING GROUP
The Mediolanum Banking Group is a leading Italian financial conglomerate listed on the Milan stock exchange and a constituent of the FTSEMIB index. It was founded in 1982 with the aim of delivering customized, value adding investment products and services to retail clients by means of an innovative, client centric, service orientated distribution model
Today the two basic components of Mediolanum’s early success, innovation and client service, are firmly embedded in the DNA of the organization and none more so than in Mediolanum’s Irish Operations which have developed over time to become the financial research and development centre for the Group, driving product and service innovation across its mutual funds, asset management and insurance businesses alike.
Established in Dublin since 1997, Mediolanum has a Fund Management Company, an Asset Management Company and a Life Insurance Company with each focused on the research, development, and discovery of innovative investment products and services, which it then delivers to its European retail client base through UCITS and Non UCITS mutual funds as well as unit linked life insurance products. These products are distributed primarily through the Group’s Banking entities and their Family Banker sales networks. The Irish Operations with almost 100 people also support our Group entity Gamax AG in Luxembourg which is growing its institutional business. Our people are continuously trying to effect change for advantage and we have created unique internal mechanisms to foster and develop IP initiatives in all aspects of our activities.
Our overall business has grown to now having c. €37.5 billion in assets under management.
When recruiting we are seeking persons who are creative and who want to innovate, and who can leverage on the pools of knowledge and skill available to us through many partnerships at a global level.
Middle Office serves as a control point between the Front Office (Trading Teams) and the External Counterparties (Brokers, Issuers). The primary purpose is to check that trade data coming from the Front Office corresponds with information being sent by the Counterparty. Once the trade data is verified, the Middle Office communicates the trade to the external Back Offices and performs various regulatory reporting tasks that arise from EMIR & MiFID. Middle Office acts as point of reference for queries relating to Trade Events, Trade Documentation, Reporting and Reconciliations amongst others.
Duties will include, but not limited to the following
- Match trades from Trading team to Counterparty Confirms and Instruct trades to Back offices
- Investigate Failing trades
- Reconciliations – to different parties including but not limited to Custodian and Counterparties
- EMIR trade reporting to ESMA via a Trade Repository
- DTCC monitoring of daily warning reports and Delegated reporting
- Trade Reporting to Central Bank
- Netting of FX trades
- Check back Office Bookings on the NAV
- Create/maintain Static Data
- Provide assistance for New account set up
- Monitor the securities lending activities to ensure lending agents are in line with expected lending tolerances and regulations including but not limited to controls on Security Lending
- Collateral Monitoring
- Monitor and update EMIR related agreements with counterparts and trade repositories
- Coupon Calculation
- Swap Obligations
Skills / competencies
- Quick Learner and Assertive individual who can act follow instructions and act independently when appropriate.
- Organised individual who can self manage multiple priorities, routine work and urgent issues as they arise. The ideal candidate is focused on resolving issues quickly.
- Individual who can perform well under Pressure and Time Constraints
Qualifications and Experience
- 3-5 years in Middle Office environment with a knowledge of trade matching (Equities, Fixed Income, FX, Listed Derivatives, etc), settlement, failing trades and Transaction reporting
- Must have knowledge of Trade Matching and Settlements, OTC derivatives (Options, Swaps, CDS) and a basic understanding of EMIR requirements.
- Should have excellent working knowledge of MS Excel (incl. pivot tables, lookup formulas, data filters)
- Knowledge of Bloomberg, SWIFT, MarkIt MTM, Triresolve desirable
- Appropriate 3rd Level Qualification
Remuneration package will be competitive and based on successful candidates overall abilities and experience.