Middle Office Job Description
Middle office
provides support the Equity, Program Trading and Options/Derivative desk with any operational tasks including trade confirmation, settlement resolution and trade communication.
Middle Office Duties & Responsibilities
To write an effective middle office job description, begin by listing detailed duties, responsibilities and expectations. We have included middle office job description templates that you can modify and use.
Sample responsibilities for this position include:
Contacting brokers or review electronic trade matching to ensure domestic and international trades (Fixed income and Equity) are matched on key trade information
Book trades in accounting system (VPM)
Communicate prime brokerage allocations to executing brokers via automated allocation tool (Omgeo) and email correspondence
Prepare daily exposure reports for dissemination to front office
Work closely with and provide operational support for the trading desk and investment team
Work closely with members of the operations team to ensure proper communication and settlement of trades across multiple asset classes
Identify opportunities for automation and other process improvements
Performing NAV reconciliation between the PMS and the Fund Accountants through the Middle Office reconciliation tools (or manually if not available), controlling the general coherence of the NAV on a daily basis, investigating the main discrepancies, performing a detailed reconciliation of positions, prices and valuations at least once a month and maintaining records for audit purposes
For the UK Limited portfolios, ensure all trades are properly integrated into the reporting tool (AIM) and provide the client reporting within the deadlines
Prepare trade instructions and communication for monthly trading activity
Middle Office Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Middle Office
List any licenses or certifications required by the position: CFA, FRM, ACCA, MBA, CECRL, B2, MIFID, FSFM, COLD, PMP
Education for Middle Office
Typically a job would require a certain level of education.
Employers hiring for the middle office job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Education, Finance, Trades, Guidance, Supervision, Business, Economics, Management, Business/Administration
Skills for Middle Office
Desired skills for middle office include:
Global markets and settlement practices
Activities in other departments
Excel
Equity
Fixed income & FX products
Financial markets and instruments
Due diligence and risk management requirements
Financial markets
Trade booking and validation
Loan closing processes and procedures
Desired experience for middle office includes:
Keep abreast of industry initiatives and market trends in the loan market that can impact our business model and/or offer opportunities to improve our processes
This will be achieved by ensuring all actions take into account of the likelihood of operational risk and also operating by the Group Compliance Policy by containing compliance risk in conjunction with the relevant Compliance Department
The jobholder should continually re-assess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures, management restructures, and the impact of new technology
FNRA licenses preferred but NOT necessary
Series 7, 63 and New York State Health and Life (all preferred)
The ideal candidate will possess solid technical skills, the ability to work in a team environment, and a high attention to detail
Middle Office Examples
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Middle Office Job Description
Job Description Example
Our company is looking for a middle office. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for middle office
- Utilising Six Sigma methodology, drive successful delivery of initiatives
- Develop and implement improvements to systems and processes in support of client requirements and the business's strategic objectives
- Engage with and manage multiple stakeholders, ensuring effective communication
- Effective project management, including project plans, RAID logs, milestones and RAG status
- Coordinate with all internal and external counter parties (including portfolio managers, executing brokers, prime brokers, custodians, fund accountants and/or other third party providers) for new product launch, business line set-up and system implementation/ enhancement
- Responsible for the daily trade monitoring, verification process between the front office systems and operations systems including but not limited to the investigation, escalation and resolution of the exceptions
- Responsible for trade maintenance and lifecycle events throughout the lifecycle of the transactions
- Assist in implementing policies, procedures and internal controls, ad hoc reporting and other administrative duties
- Collateral management through the validation and issuance of margin calls
- Working in conjunction with prime brokers to resolve settlement issues
Qualifications for middle office
- Coordinate closing of both Leverage Loan and Relationship Loan transactions from start to end
- Review Credit Agreements for operational aspects and escalate any potential constraints/issues
- Compile weekly metrics for Management
- 5 years lending and/or loan operations experience
- Oversee performance of assigned Operations Specialists staff members and perform HR and PPA functions
- Establish regular team meetings to encourage communication within team
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Middle Office Job Description
Job Description Example
Our company is looking for a middle office. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for middle office
- Confirmation of all trades with counterparties on a daily basis
- Processing quarterly coupon payments and cash flows for CDS and IRS products
- Assisting with the preparation of ad hoc management reporting
- Oversee daily review of trades executed and confirmation of trade economics for products such as FX Forwards, NDFs, and FX Options
- Review of fails in trade matching process with various vendors platforms
- Provide oversight in process to confirm cash movements with counterparties for trade related payments, swap resets or for expiries/maturities
- Interact with Fund accounting team to resolve daily breaks
- Assist as needed with additional product roles, processes
- Responsible for managing the end to end trade reporting function in a controlled and efficient manner
- Help create a strong control environment where regulatory issues are identified quickly
Qualifications for middle office
- Act in an advisory capacity, or SME (subject matter expert) to management on the implications of proposed decisions related to areas of expertise
- Provide QA (quality assurance) verifying and tracking team performance for accuracy and timeliness regarding Takeover process, Overdraft process and Wire Transfer process
- Technical knowledge how financial instruments works - both listed and unlisted
- High standards for accuracy and attention to detail, strong written and oral communication skills
- Previous experience to come from an Income/Payment, Corporate Actions or Asset Servicing background, or equivalent experience
- IOC qualification would be beneficial
3
Middle Office Job Description
Job Description Example
Our company is growing rapidly and is looking for a middle office. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for middle office
- Provide oversight and monitoring of correct reporting
- Assist in building out a global and robust set of controls
- Research and resolve security and trade errors, monitoring of trade activity for sub-advisors, processing of corporate actions and class actions
- Manage liquidity including credit drawdowns, communication with portfolio managers about upcoming liabilities and managing investments into money market funds (completing calculations before handing over to Investment Administration team for instruction to custodian)
- Valuation sign off- based on P&L analysis and supporting reports and evidence of outsourced Middle Office review
- Oversight of FX hedging based on expected feeder returns and share class returns
- Review and appraise service provider performance versus key performance indicators
- Reviewing of monthly/weekly/daily reporting on cash and position breaks
- Daily review of overnight data feed for errors and inconsistencies
- Act as a point of contact for resolution of issues relating to valuation data from both internal and external stakeholders including clients, client services, client reporting and regulatory reporting
Qualifications for middle office
- The position is a second-level operational position - requires a working knowledge of the basics of the alternatives industry and of the different areas within service delivery
- The individual should aggressively look to grow their knowledge and expertise regarding AIS and the industry
- The position requires problem solving skills necessary to solve various operational issues that arise on a daily basis that affect our clients and their accounts
- The position requires an individual to provide service delivery to both our internal and external clients that is both accurate and efficient
- The position requires engagement with a cross section of the AIS Service Delivery teams, including management (locally and possibly in global locations) with business partners and clients
- College/Third Level Degree preferred
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Middle Office Job Description
Job Description Example
Our growing company is looking to fill the role of middle office. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for middle office
- Monitoring of aged accruals within valuations utilising reports from to outsourced middle office supplier
- Monitoring of stale prices and referring non-standard pricing issues to valuation committee for review where appropriate
- Monitoring of invoices and other fee payments from the fund
- Review existing systems /procedures I MIS to identify areas of possible improvement
- Participate in ad hoc projects relating to system I procedure improvements
- Support the management of relationships with a number of vendors (Fund
- Administrators, Custodians, Prime Brokerage)
- Ensure internal stakeholders receive a robust, high quality and consistent level of service in the appropriate areas, from all Vendors
- Support the operation of Governance and Oversight frameworks with service providers
- Participate in monthly/weekly service review meetings focused on operations and overall relationship
Qualifications for middle office
- Coordinate and align Operations Specialists workload to ensure equitable distribution
- Working experience and knowledge of Mutual Funds would be beneficial for this role
- Work closely with a loan origination and structured lending business internal and external legal teams and agent banks
- Assist with quarterly client statements generation for PIM accounts
- The ideal candidate will possess a background or equivalent investment industry experience in financial/fund accounting, finance, or middle/back office processing
- The ability to work under pressure, meet daily deadlines, multitask, prioritize and communicate technical information to internal/external sources are also strongly preferred characteristics
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Middle Office Job Description
Job Description Example
Our growing company is looking to fill the role of middle office. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for middle office
- Support ad hoc transition and migration projects
- Prepare and review the fund budgets and provide oversight to the service provider
- Monitoring changes in every tax regime covered by NT, ensuring changes are translated into both operational procedures but also announcements that are transmitted to clients
- Liaising and consulting with Sovereign Wealth Funds, Government entities, hedge funds and other complex legal entities who make up our client base
- Oversight, tracking and general management of all client queries in the APAC region
- Maintain effective dialogue with tax authorities to continuously improve the servicing of our clients
- Active planning and participation in client visits, presenting their tax reclaim and documentation statuses
- Oversight of all technical queries and ensures that Relationship Management team have timely and complete information
- Oversight and consultancy to the Tax Reclaim teams in Bangalore
- Validation of client tax status eligibility, including partnerships and tax transparent vehicles, ensure that tax rates are accurately populated in our systems
Qualifications for middle office
- Create and implement training schedule for new hires
- Strong knowledge of business operations and processes in areas
- Very strong understanding of object oriented design / development
- Experience in core Java and related technologies
- Experience developing client-server or distributed, multithreaded applications in Java
- Experience in any major RDBMS