Analyst, Derivatives Operations Analyst

Closing date
8 Jul 2021

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Operations Markets & Securities Services is part of the Operations Office for EMEA that supports MUFG's core products and services including Banking (commercial/retail based payments, loans, derivatives, trade finance) and Securities (Derivatives, FX, Fixed Income, Equity etc.). The role of Operations Markets & Securities Services is to service the requirements of the firm's internal clients (Front Office, Trading Desks etc.) as well as manage external relationships (Brokers, Custodians etc.) and also has close ties with other support areas such as , Legal, Compliance, and Risk.




The opportunity is for an enthusiastic and intelligent individual to join the Markets Services team within Operations, responsible for providing control and support for multiple trading desks. The desks are engaged in pricing and trading of vanilla and structured derivative products across multiple assets including rates, equity, commodity, credit, Repo/SBL and FX.

The team provides traders support to facilitate implementation of accurate post execution controls, care and processing of all trades executed. Acting as a vital intermediary between Trading, Sales, Structuring and various back office areas and plays a pivotal role in BAU whilst contributing to the planning and development of new product offerings on a regular basis.

The successful candidate will spend time learning the day-to-day processes, interactions and many relationships managed by the team, helping to provide continuous development ideas and driving through required improvements. The role is focused around accounting, payments and relationship management and Derivatives controls/processes. As part of the Derivatives function the successful candidate will maintain ownership of processes, will be the main point of contact for the activity allocated and for queries from both an internal and external stakeholders. The role also involves daily face off to the business, monitoring live trading queues and running reconciliations to identify discrepancies and ensuring they are fully understood, explained and communicated to relevant stakeholders.

A good understanding of the pricing inputs, accounting and lifecycle management mechanics of these products is required, with knowledge of the front to back process being important since daily interaction with stakeholders is required to ensure relevant updates are processed in a timely manner.

This is a demanding role which requires the candidate to undertake a multitude of disciplines. It would suit an individual with either existing multi-asset derivatives experience, or one looking for an unprecedented opportunity to transcend a given asset specialism to gain insights into the mechanics of other asset classes

The role supports MUFG's Banking arm as well as the Securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the Bank and the Securities business, subject to the same remit and level of authority, and irrespective of the entity which employs you.

The Derivatives function sits within the Markets Services pillar of Operations. The role is focused around Derivatives controls, lifecycle management, accounting reviews, payments processing and relationship management.


The main roles and responsibilities of the department and this role are:
  • Day to day activity, e.g. derivatives lifecycle management and reconciliation of all invoices received against internal accrual accounts and arranging timely payment.
  • The successful candidate will progress into the role with focus on a wider range of activities including process re-engineering, development and testing of in-house systems and participation to strategic projects across multiple infrastructures
  • Production of daily MI report tracking status of reconciliations.
  • Build relationships throughout MUFG to establish a peer network, gather relevant information and help to ensure effective inter-departmental collaboration.
  • Accounts management covering a wide range of asset classes in the derivatives and securities space.
  • Act as a key liaison between trading, Finance and Product Control, other support functions and the counterparty
  • Understand related process flows to be able to identify workflow and operational efficiencies.
  • Adherence to global standards of information storage and dissemination
  • Maintain a consistent and robust control environment and contribute to continuous process improvements
  • Strict adherence to internal control and escalation protocol

  • Preferable previous experience in Middle Office, Trading Assistant or Product Control or Brokerage roles or similar activity
  • Previous experience within a top tier financial institution preferable, but not essential


Functional / Technical Competencies:
  • A strong understanding of different asset classes including rates, credit, equity and FX derivatives
  • Good understanding of the various lifecycle events and associated risks on these products
  • Understand the key elements of the front to back process flow including other infrastructure groups i.e. Market Risk, Credit Risk, Finance, Product Control, Legal, Compliance, etc.
  • Rudimentary Financial Math
  • Fundamentals of P&L substantiation
  • Basic understanding of the term structure of projection/discount curves and swap pricing
  • Basic appreciation of the Greeks
  • Basic understanding of the ISDA swap definitions
  • Good understanding of the regulatory reporting requirements in various jurisdictions
  • Good understanding of Confirmations and ISDA documentation
  • Familiar with running robust reconciliations and controls
  • Understanding of the lifecycle event management on both vanilla and structured products
  • Understand the cash flows and dynamics of a banking business such as funding requirements and their importance
  • Awareness of collateral processes, Initial Margin, Variation Margin, general CSA familiarity would be beneficial
  • Accounting knowledge, ability to identify impacts to P&L and Balance Sheet from trade bookings
  • Excellent Microsoft Office skills (Excel, VBA, Access)

Education / Qualifications:
  • Bachelor or Masters degree in a technical or appropriate field of study (Economics, Mathematics, Finance, Engineering, etc.)

  • Strong technical ability - marrying exemplary product knowledge with meticulous attention to detail and analytical skills
  • Creates a culture of creativity and innovation - identify ways to improve processes and develop creative solutions
  • Excellent communication skills - ability to communicate complex issues in clear and concise terms to a broad audience
  • Responsible - highly motivated self-starter who takes ownership of a given process, executes it with due diligence and efficiency
  • Problem solving and judgement - proactive, thinks ahead, plans for contingencies, anticipates questions from different perspectives, seeks alternative solutions and delineates clear objectives
  • Excellent interpersonal skills - team focus, gives evidence of a strong collaborative working ethic
  • Results driven, with a strong sense of accountability
  • A proactive, motivated approach.
  • The ability to operate with urgency and prioritise work accordingly
  • Strong decision making skills, the ability to demonstrate sound judgement
  • A creative and innovative approach to work together with structured and logical reasoning
  • The ability to manage large workloads and tight deadlines
  • A calm approach, with the ability to perform well in a pressurised environment
  • A confident approach, with the ability to provide clear direction to the team
  • A strategic approach, with the ability to lead and motivate a team

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.

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