Specialist: Derivatives Clearing

22 hours ago

Rosebank, Gauteng, South Africa Isilumko Staffing Full-time R 400,000 - R 600,000 Contract

Overview

Job Description: Our primary service offering to clients is to clear, settle and report on Exchange Traded Derivative contracts traded on the JSE platform. Derivatives Clearing Specialists are responsible for:

Responsibilities

  • Client service and query management
  • Risk management
  • Settlement of daily JSE margin calls
  • Monitoring of client exposure against available funds
  • Clearing and understanding of products across different markets
  • Commodity Derivatives
  • Equity Derivatives
  • Interest Rate and Currency Derivatives
  • Acceptance and allocation of derivative trades from interdealer brokers on behalf of offshore clients
  • Shift rotation according to different market closing times
  • Operational duties as described in more detail below
  • Process daily cash settlements and transfer instructions
  • Engagement with clients and stakeholders
  • Balancing the daily JSE derivatives clearing markets and electronic reporting
  • Reconciliation of daily trade data
  • Position and deal management
  • On boarding of clients
  • Reconcile internal Derivatives Clearing cash account (house account)
  • Month end processes
  • Attend and resolve client queries, requests and instructions
  • Prepare payment for physical deliveries on commodity market and email notices to clients

Qualifications

  • Minimum qualification: National Diploma in Financial Markets
  • Preferred qualification: Degree in Business Commerce Business Management or Economics or relevant qualification

Other Preferred qualifications, certifications or professional memberships

  • South African Institute of Financial Markets (SAIFM)
  • Introduction to Financial Markets Regulation and Ethics of South African Financial Markets
  • The Derivatives Market
  • The Equity Market
  • The Bond Market
  • The South African Foreign Exchange Market
  • The South African Money Markets
  • Agricultural Products Dealers Exam Internal Training

Experience

  • Corporate Banking (Transactional Products and Services) 3-4 years’ experience in Financial Markets and/or Derivatives Markets
  • Risk Management (Transactional Products and Services)1-2 years’ experience in understanding client exposures and ensuring risk mitigants are adequately applied, failing which appropriate action required to manage collateral deficits

Preferred Experience

  • Corporate Banking, 3-4 years in relative market experience specific to derivative markets offered by the JSE, general understanding and operationally driven