Analyst, Derivatives Confirmations - Toronto, Canada - Royal Bank of Canada

Royal Bank of Canada

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Come Work with Us
At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title
Analyst, Derivatives Confirmations

What will you do?

Draft and review ISDA confirmations covering plain vanilla and structured OTC derivative transactions and directly negotiate terms with counterparties
Protect the Bank's integrity and reduce risk of loss by ensuring that all Derivative transactions completed are valid deals and correct with respect to financial details and all other relevant binding details; promptly notifying traders and management of missing or erroneous trades
Develop and maintain an understanding of ISDA definitions & any applicable supplements related to derivatives transactions. Ensure that documentation complies with ISDA and current market practice to prevent, detect, and eliminate the potential for risk and liability to the firm
Ensure all trade confirmations are drafted, dispatched, and executed in accordance with procedures, Standing Order and regulatory requirement for all derivatives transactions
Ensure any trade discrepancies are investigated and escalated to the Front-Office as soon as they are identified and followup on all discrepancies to ensure timely resolution
Actively follow up on outstanding confirmations, escalate and resolve any lengthy delays in their execution by engaging Front office.
Proactively identify opportunities to further streamline processes and improve productivity.
Actively escalates and followsup system issues affecting the confirmation process.
Prepares and distributes Weekly Outstanding Confirmation Report to the relevant parties including: Business Partners, Middle Office and BCS Management.
Prepares Master Confirmation Agreements for clients. Liaise with the appropriate department to review bespoke MCA draft and update MCA flag in the system upon execution.
Process audit confirmation requests for derivatives products and forward audit request to appropriate team(s) for processing as required.
Reviews all system reconciliation, unmatched and exception reports for various systems on a daily basis and investigates any discrepancies
Participates in user acceptance testing for systems upgrades, database conversions and introduction of new systems.
Responsible for maintaining product and operational procedures documents on an ongoing basis.
Crosstrain on other desks within the department to provide relief during absences and high volume periods.
Maintain counterparty reference data related to confirmation are uptodate in the system

What you need to succeed?

Post-Secondary education or equivalent

years relevant experience

Good knowledge of ISDA documentation definitions
Good understanding of the complexity of Derivatives transactions
Good knowledge of Derivatives Products in general, standard market practices and trading terminology
Good familiarity with the various processes involves in confirmation as well as support systems
Excellent verbal and written communication skills
Detailoriented, strong time management and organization skills
Selfmotivated, takes initiative, good attention to detail & high level of numeracy
Analytical abilities and able to be proactive to foresee potential problems
An ability to identify collaboration opportunities with our internal partners
Team player

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper.

We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
Leaders who support your development through coaching and managing opportunities
Work in a dynamic, collaborative, progressive, and highperforming team
Opportunities to do challenging work
Flexible work/life balance options

Job Summary
This role mitigates Legal, Operational and Economic risk associated with derivatives transactions.

As an Analyst, you will ensure that quality service is provided and that the Bank is represented in a professional manner at all times.

This role is part of the global Market Business and Client Services Derivatives Confirmation Group that covers asset classes including Commodities, Credit, Equities, FX, Loans, Rates, and any hybrids thereof.

Address:

TORONTO, Ontario, Canada

City:

CAN-ON-TORONTO

Country:

Canada

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