Job Description

DEPARTEMENT: OPERATIONS DEPARTEMENT - CDSCLEAR
REPORTS TO: HEAD OF CDSCLEAR OPERATIONS
LEVEL: SENIOR ASSOCIATE
LOCATION: NEW YORK

Background:
LCH is the leading independent CCP group in Europe, serving major international exchanges and trading platforms, equity markets, exchange-traded derivatives markets, energy markets, the OTC interbank interest rate swaps market and the majority of the Euro-denominated and sterling bond and repo markets.

CDSClear is a unique business within LCH Group, incorporated in LCH SA and established through a partnership with the 11 largest Credit Derivative dealers. CDSClear is a fast-growing Credit Derivative clearing business aiming at becoming the market leader in Europe.

The business has experienced and continues to experience significant and constant growth in Europe, gradually overtaking its European competitor through a strategy of product & service differentiation driven by innovation as well as through a close partnership with main Credit Derivatives market participants. The key initiative of CDSClear is to extend its operating hours for the US market.

Overall functional objectives:
The CDSClear Operations Middle-Office Officer will take part in the formation of the CDSClear Operations Department in New York. The individual will manage all operational aspects of the CDSClear service related to trade management on the production and UAT environments. The individual will be accountable for the day-to-day business activity with customers during U.S. business hours.

This role is based in New York.

Responsibilities:
Daily operational trade management and processing

• The Middle-Office Officer has to support or cover the Head of CDS Operations Monitoring in overseeing and managing all his tasks on production and tests environments
• It covers the management & monitoring on day-to-day basis of all events impacting trades including novation, credit events, succession events, compression transfers and default
• The Middle-Office Officer must take the initiative, be a self-starter and be capable of making decisions for remediating and fixing production issues
• The Middle-Office Officer has to support the Head of CDS Operations by taking responsibility for building strong relationships with business partners (DTCC, TradeServ, Bloomberg, Tradeweb, Markit & UnaVista)
• To support the increase of volumes through backloading and intraday clearing
• The Middle-Office officer has to ensure a smooth handover of the production service from the Paris Operations to the New York Operations team

Members and clients\xe2\x80\x99 support

• Assist U.S. clients with their day to day clearing operations
• Support the development and expansion of the client clearing business within the region
• Provide the highest level of service to both members and clients
• Resolve technical issues in conjunction with application support, network, and development teams
• Identify and escalate incidents to internal stakeholders
• Facilitate the onboarding of new FCM members in the context of the US expansion

Operational risk and control environment

• To develop and maintain a strong operational control environment, performing daily/weekly/adhoc controls and ensuring timely resolution and/or remediation of exceptions & issues
• The Middle-Office Officer will support or backfill the Team manager in ensuring that all required controls are performed effectively
• To ensure documentation (procedures / checklists & user guides) and audit trails are produced and kept up to date
• Follow up and implement audit recommendations (operational risk controls & compliance)
• Implementation of Disaster Recovery Plan & Business Continuity Plan for Operations Department

Change activity

• The implementation of new clearing releases on test & production environments
• Ensure that operational needs and requirements are appropriately captured for production monitoring
• Work with other departments (Project, IT, etc) and external stakeholders (infrastructure providers) to determine and agree tasks, plans and responsibilities for activities
• Regularly identify ways to improve departmental processes and policies. Define and implement change in line with the business plan in order to fulfil departmental objectives and business requirements more efficiently and effectively

Required skills and experience:

• Candidates must have an in depth understanding of the Credit Derivatives markets and products having had previous experience in the Middle-Office or Back-Office of a financial institution
• Comprehensive knowledge of financial services\xe2\x80\x99 industry rules and regulations and an understanding of what best practice means in running an operations service
• Demonstrate a deep understanding of the clearing environment and the future direction of OTC and exchange traded business
• Ability to take ownerships and the willingness to be accountable with a strong result focused attitude and \xe2\x80\x9ccan do\xe2\x80\x9d mindset
• Strong team ethic and proven ability to work collaboratively across team and department \xe2\x80\x9cboundaries\xe2\x80\x9d
• Ability to manage expectations of clients and colleagues
• Continually strive for excellence

Compensation/Benefits Information (New York City applicants only):
LSEG is committed to offering competitive Compensation and benefits. The anticipated base salary for this position is $77,600 - $144,000.
Please be aware base salary ranges may vary by geographic location, city and state. In addition to our offered base salary, this role is eligible for our annual incentive (AIP/"bonus plan"). Target AIP rates will be commensurate with role level and posted career stage. Individual salary will be reflective of job related knowledge, skills and commensurate experience. All roles are typically eligible for inclusion in our LSEG benefit program, more information & details will be provided at time of offer.

At LSEG, we believe that creating a diverse and inclusive organisation is fundamental to the way we deliver on our promise of creating essential partnerships and open opportunities. Our open culture is central to how we deliver our purpose \xe2\x80\x93 driving financial stability, empowering economies and enabling customers to create sustainable growth \xe2\x80\x93 in everything we do.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 70 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.

LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone\xe2\x80\x99s race, religion, colour, national origin, gender, sexual orientation, gender identity, gender expression, age, marital status, veteran status, pregnancy or disability, or any other basis protected under applicable law. Conforming with applicable law, we can reasonably accommodate applicants\' and employees\' religious practices and beliefs, as well as any mental health or physical disability needs.

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