Derivatives Clearing Specialist

2 months ago

Johannesburg, South Africa Isilumko Staffing (JHB) Full time

Job Purpose: Join our client's dynamic team as a Derivatives Clearing Specialist, where you will play a pivotal role in providing exceptional service to our clients by clearing, settling, and reporting on Exchange Traded Derivative contracts traded on the JSE platform. This operationally critical position involves client service, risk management, and comprehensive engagement across multiple derivative markets.

Key Responsibilities:

  1. Daily Cash Settlements:

    • Process daily cash settlements and transfer instructions, ensuring accurate entries into our financial systems.
    • Manage JSE margin calls and client exposure, ensuring compliance with funding requirements.

  2. Client Engagement:

    • Maintain proactive communication with clients regarding queries, payment instructions, and trade discrepancies.
    • Collaborate with international clients for trade confirmations and reconciliations.

  3. Market Balancing and Reporting:

    • Execute end-of-day processes and reconcile daily trade data, ensuring all client positions and margin obligations are accurately updated.
    • Investigate discrepancies and coordinate with stakeholders for resolution.

  4. Position and Deal Management:

    • Handle booking, confirming, and accepting trades on behalf of international clients, ensuring compliance with risk management protocols.

  5. Client Onboarding:

    • Oversee the onboarding process, ensuring clients meet all compliance requirements and managing the necessary documentation.

  6. Month-End Processes:

    • Reconcile month-end interest allocations and prepare necessary payment files for client accounts.

  7. Query Resolution:

    • Address client queries and requests through our group clearing inbox, ensuring timely and effective communication.

  8. Physical Deliveries:

    • Prepare payments and email notices for physical deliveries in the commodity market.

Qualifications:

  • Minimum Qualification: National Diploma in Financial Markets or related field.
  • Preferred Qualification: Bachelor’s Degree in Business Commerce, Business Management, Economics, or a relevant discipline.
  • Certifications: Membership or certifications from the South African Institute of Financial Markets (SAIFM) or relevant financial market courses are advantageous.

Experience:

  • Required:

    • 3-4 years in Corporate Banking or Transactional Products, with a focus on Financial Markets and/or Derivatives Markets.
    • 1-2 years in Risk Management, with experience in managing client exposures and collateral requirements.

  • Preferred:

    • Industry-specific experience in derivative markets offered by the JSE, with a strong operational understanding.

Skills:

  • Excellent analytical and problem-solving abilities.
  • Strong communication and interpersonal skills.
  • Proficiency in financial systems and reporting tools.

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