Equity Swaps Trader

1 week ago

Randburg, Gauteng, South Africa Rand Merchant Bank Full time

Job title: Equity Swaps Trader

Job Location: Gauteng, Johannesburg

Deadline: April 21

Job Description

Responsible for the day-to-day management, reporting and operations of the JV Equity Swaps derivatives book.

This person will additionally support and backup the RMB Morgan Stanley Treasurer (BRM) function.

Key Responsibilities
  1. Book Management (Equity Swaps Local and Offshore)
  2. Daily Book Management for EDCS Products (Ensuring the book is sufficiently hedged, managing Corporate Actions, Stock Borrow, Funding Requirements, etc)
  3. Daily Reporting of Expected P&L on Trade Date and Sign-off of P&L on Trade Date
  4. Implement daily attributions down to component level of each product to give greater insight into the fundamentals of each book (e.g., stock borrow, interest and commission revenues)
  5. Identify and work with Trading Operations Manager to Implement Process Efficiencies
  6. Assist teams across Operations unit to meet deliverables, reduce re-runs and errors.
  7. Implement controls to track and monitor the booking and allocation process to identify any errors.
  8. Interact with the Trade Support Team to ensure trades continue to be booked correctly and improve booking and allocation processes.
  9. Monitor and Manage costs within the business (e.g., JSE costs, Funding Costs, Scrip Lending Costs)
Client Focus
  1. Efficient and friendly customer service
  2. Low turnaround time on client queries and requests
  3. Develop and maintain strong relationships with clients, prime brokers, and operations (Internal and external)
  4. Ensure a smooth and efficient client take-on process.
  5. Identifying process gaps and implementation of solutions to enhance process and client experience
  6. Detailed understanding of client allocations processes.
Treasury Support and Back-up
  1. Sufficient understanding of the Treasury function to support and provide backup to the RMB Morgan Stanley Treasurer.
  2. Track and Manage the JV Borrow Book.
  3. Track and manage all positions on EDCS desk to optimise funding.
  4. Identify long positions for lending purposes.
  5. Develop and implement MIS dashboard reports with sufficient and appropriate detail to monitor funding.
Scrip Lending
  1. Track and Manage Borrow Book and ensure costs are charged correctly back to the relevant products and the products are priced correctly.
  2. Collateral monitoring to improve processes.
  3. Tracking all short positions and returns to reduce cost.
  4. Work with Sec Lending desk to optimise stock collateral (instead of cash)
  5. Tracking of lending rates to ensure best cost results.
  6. Monitoring monthly fees across the EDCS portfolio
  7. Look to implement pricing features to leverage and generate revenue from the ability to improve our scrip lending costs.
  8. Track the benefit to the JV from this function.
Project Work
  1. Implement controls and automation to improve products and booking processes.
  2. Identify, Drive and Specify projects to improve efficiencies for EDCS or development of new products.
  3. Identify Process and System issues and ensure projects are initiated and carried through to completion and controls are implemented to mitigate these issues.
Monthly Reporting

Generate Reporting at the end of each month used for client billing, profit sharing agreements and EDCS statistics for management reporting.

Qualifications

You will be an ideal candidate if you:

  1. Type of Qualification: Graduate Degree
  2. Field of Study: Bachelor's degree in Finance and/or Accounting and/or Mathematics and/or a relevant Commerce discipline
  3. Advantageous: Registered persons, JSE Exams, Technology and/or Data Analytics skills
  4. 1-4 years' experience and exposure to Market Risk, Global Markets or related Financial Risk functions would be beneficial.
  5. Quick learner especially on trading platforms and other tools; strong analytical skills.
  6. Basic coding and report building would be beneficial.
Preferred Candidate
  1. 1-4 years of front office experience
What We Offer
  1. Opportunities to network and collaborate
  2. Challenging working opportunities to innovate
We Can Be a Match If You Are:
  1. Curious & courageous - you're driven by always wanting to know more and learn more.
  2. Obsessed with mastery - you know what it takes to become good at what you do and are constantly pushing yourself to do it.
  3. Love putting our clients at the forefront of what you do.
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