Rothesay is a UK insurance company purpose built to protect pensions. We are the largest specialist pension insurer in the UK, managing over £50bn of assets and securing pensions for over 810,000 people. We secure pensions for over 170 pension schemes and insurers including British Airways, Post Office, ASDA, National Grid and Aegon.
At Rothesay, we are striving to transform our industry. We believe deeply in creating real security for the future and our leadership in finding new and better ways to do that is the key to our success. To do that, we need the very brightest original thinkers to bring creativity as well as rigour. Rothesay is a rewarding place to work, where quality people can thrive and prosper. We pride ourselves on the connections our people build, many of whom have been with us for over ten years.
Job title: Asset Operations – Trade Support Analyst
Role type: Permanent
The Rothesay Operations Team is responsible for supporting the contractual commitments of the insurance, trading and structuring side of the business, including all hedging and investment activity. It provides solutions to new asset structures, validates day to day trading activity, monitors contractual life cycle and regulatory obligations and creates effective and efficient controls and processes to support the business.
The Asset Operations team provides dedicated trade and middle office support functions to the Rothesay Trading and Asset Origination desks, who are responsible for the hedging and investment side of the business respectively, typical of a trading or structuring desk within an investment bank. The principle difference is that Rothesay is a cross-asset business and so has regular trading in various vanilla and structured products, which the Asset Operations team have direct exposure to from a trade support perspective. Asset Operations is directly responsible for Rothesay’s daily treasury management and oversight of collateral management functions performed by our outsourced administrator, ensuring day to day liquidity and counterparty risk is managed and escalated accordingly.
This is a permanent role aimed at the senior analyst/junior associate level, and will suit an individual who has prior experience in a fixed income, derivative trading or structuring middle office role within an investment bank, and is motivated by working in a dynamic, fast paced and demanding team environment. You will gain a thorough understanding about how an asset trading business operates end to end, within the umbrella of an insurance company. You will need to be able to work independently as well as being part of a broader support team, and be able to present risks and solutions to day to day and longer term issues to immediate and senior management across the business.
Key activities include:
- Daily trade activity validation and reconciliation, ensuring trades booked in risk are reconciled to the books and records managed by our third party administrator
- Alongside our administrator, support the settlement and life cycle management of a dynamic and innovative business covering a variety of products, much of which is traded on a daily basis;
- Interest Rates, Inflation and Cross Currency swaps, options, and spot and forward FX
- Credit Default swaps including both Negative Basis packages and Index trading
- Bonds, across Supranational, Sovereign and Sub-Sovereign, Corporate, Infrastructure sectors.
- Bilateral & tri party repos
- Long term secured funding structures including commercial real estate, infrastructure, social housing
- Manage trade related queries during the trade review, confirmation and settlement process and act as an intermediary with other teams, where necessary.
- Support for new structured transactions, including design of new processes and contributions to risk memos where products are new to the business
- Support intra-day funding, cashflow management and cash reconciliations for the business
- Work closely with the Trading, Structuring, Finance, Risk, Quants/Strats and Technology teams
- Understand Rothesay Life’s regulatory obligations under EMIR with respect to trade activity, clearing and collateral rules and obligations
Skills & Experience:
- Possess minimum 2:1 degree from a leading university
- 2 - 4 years’ experience in either a trading or structuring middle office or trade support role and be able to demonstrate knowledge and understanding of their trade booking and risk management systems
- Experience and knowledge of the one or more of the products listed above, but deep technical understanding of either Interest Rate Swaps or Credit Default Swaps in particular
- Knowledge of external confirmation platforms including CTM /Omgeo, Markitwire and DTCC, and settlement flows in Derivatives or Fixed Income products.
- Strong MS Excel skills
- Ability to manage multiple tasks and stay focused on risk management, absolute attention to detail
- Ability to manage multiple projects, manage own workload and work as part of team
- Strong communications skills to clearly articulate status and issues to others
- Strong analytical and presentational skills
- Ability to work with complex legal documentation and how such products are booked into risk management systems
- Understanding of risks and controls required to support complex business activities
- Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate financial/analytical skills
- Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
- Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
- Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
- Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
- Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations
Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.
Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level. The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request. There are no specific health risks associated with the role.