OTC Operations

  • Job category
    Banking and Finance
  • Job level
  • Contract type
    Full Time
  • Location
  • Salary
    S$7500 - S$11000

Job Description

About Us

Symmetry Investments is a global investment company with offices in Hong Kong, Singapore and London. We have been in business since 2014 after successfully spinning off from a major New York-based hedge fund.

At Symmetry Investments, we seek to engage in intelligent risk-taking to create value for our clients, partners and employees. We derive our edge from our capacity to generate Win-Wins – in the broadest sense. Win-Win is our fundamental ethical and strategic principle. By generating Win-Wins, we can create unique solutions that reconcile perspectives that are usually seen as incompatible or opposites, and encompass the best that each side has to offer:

We integrate fixed-income arbitrage with global macro strategies in a novel way.

We invent and develop technology that focuses on the potential of human-machine integration.

We build systems where machines do what they do best, supporting people to do what people do best.

We are creating a collaborative meritocracy: a culture where individual contribution serves both personal and collective goals - and is rewarded accordingly.

We value both ownership thinking AND cooperative team spirit, self-realization AND community.

Operations at Symmetry

Globally, the Operations group consists of 11 full-time team members, and 4 contractors. Spanning 3 different offices and multiple time zones, we operate under a follow-the-sun model to ensure continued support for any global market. Clear communication is key between the regions and we embrace platforms such as Gitlab, Symphony, Bluejeans and Discourse to collaborate with fellow team members and the broader business.

The Operations group deals with all post-trade processing at Symmetry; trade affirmation, settlements, lifecycle management, reconciliations, P&L generation, and collateral and treasury management in collaboration with our treasury front office team.

This is not your typical team of people blindly processing and pushing a button on an excel spreadsheet. Our work is highly analytical, engaging and we contribute to the firms’ enterprise value.

Yes, we deal with processes, but it requires a deep understanding of product specific nuances and implications on the broader system to build an operational platform that allows the firm to scale the business.

We work in collaboration with our peers on the investment and non-investment side of the business to not only support them and their front-to-back trading activities but help them generate alpha. Is there a new trading agreement or a way to structure the pricing of their trade which will reduce the operational cost throughout the life of that trade? Is where they are clearing their current flow inefficient from a margin perspective? Operations are the subject matter experts on the trade life cycle and this knowledge is invaluable to traders and their bottom-line P&L.

We adopt an intimate relationship between man and machine, where the entire company is writing code and systems in the same novel, functional programming language that is built inhouse. This allows everyone to be singing off the same hymn sheet in a fast, easy-to-understand and efficient code base.

Role & Responsibilities

We are looking for an experienced candidate with domain expertise in the OTC middle office space.

You will be familiar with managing high volume of OTC trading and having input in building controls and systems to manage associated operational risks.

You will have a strong understanding of OTC products, including the lifecycle of a trade from trade inception all the way to the settlements and confirmations.

You will likely be frustrated at a larger institution and want to have the ability to make an impact on a business and have the drive to make change happen.

Day-to-day Responsibilities

  • Being main point of contact responsible for supporting OTC business
  • Monitoring affirmation platforms across all OTC products (MarkitWire, ICELink etc.) and resolving exceptions to ensure top day matching
  • Being a point of escalation for any booking, cash, PnL and settlement issues
  • Oversight of daily T+1 reconciliation of trades, positions, and cash activity across accounts
  • Monitoring of positions approaching expiry period and processing of events (Swaptions/FX Options etc.)
  • Ensuring all electronic trades done on platform feed correctly, manage exceptions with our platform support providers
  • Managing electronic trading platforms – new trader requests, allocation template set ups, risk limit requests
  • Facilitating any ad hoc requests arising from the different portfolio teams and individuals
  • Working with counterparts & administrators across our funds to improve workflow and reduce exceptions and errors
  • Identifying and documenting root causes to persistent issues that occur in our workflow, and provide proposals on ways to tackle at source
  • Building out new market and product capabilities
  • Providing support to other product areas where capacity allows

Desired Capabilities

  • Systems thinking – appreciation and curiosity to understand the implications of ones role on the broader work being conducted by the firm and executing the role with that in mind…amending the price on a bond trade can impact P&L, it can impact risk, it can impact cash and funding, etc etc.
  • Drive & determination – we want people who are naturally hungry to succeed and strive for the highest outcomes. We offer a quality product to our investors and this manifests itself in the quality of our work across our business, including within Operations…this requires someone with who is self motivated and with a drive to succeed and improve each day. If counterparties or prime brokers are a constraint, how do we push and move forward, how do we find that win-win with them to improve our business and theirs? We want people who are interested in finance and markets, and want to understand how products work, and to get better each day
  • Critical thinking – the successful candidate will be willing to listen and respect ideas but also question the status quo, spot problems and have the confidence to speak up and offer ways we can improve. The right candidate will be both a team player and an independent and critical thinker.
  • Attention to detail – a cliché in job descriptions but oh so important in the Operations role. Somewhat related to systems thinking. Our (in)actions have a real impact on the firms’ enterprise value and so we need to ensure we investigate root cause of all issues with the aim to remediate any areas of operational risk, weakness or inefficiency.
  • Decision making – people aren’t micromanaged at Symmetry, the right people are entrusted with their work and encouraged to make us a better firm and create more value. With that, comes responsibility and it is important that the individual looks to make the right decisions and asks if they are unclear on direction. The development of our principles should help with decision making in time
  • Organized – another job description buzzword, but this is more than maintaining a “to-do list”. This is also about us being organised in identifying issues and logging them, such that we can perform root cause analysis on issues and hopefully resolve them. It also does help if within the day-to-day work you know what you need to execute and can manage others’ expectations if needed
  • Effective communicator – several facets to this. Operations is a central hub around our core trading activity, and so daily interaction can be expected with portfolio managers, our risk team, compliance, legal, the trading assistants, technology, the list goes on. It’s important to build rapport with these groups and in this remote working environment build on relationships within the operations group and more broadly. As a result of remote working, writing also becomes more important, whether that is chatting to your peers or looking to document procedural notes to ensure we are resilient and people can cover different areas of the Operations function. We use Gitlab to document our processes and it provides a great platform to memorialise information and maintain living, breathing documents
  • Unflustered & Adaptive – Our work can be high pressure at times and it requires a calm head. Can you adapt, remain calm and ask the right questions and ask the right people to get to the right outcome? Are you confident in your decisions?

Salary Range: SGD 7.5k-11k monthly base pay

Closing on 17 Oct 2021

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