Trade Support / OTC Derivatives Confirmations Drafter

Trade Support / OTC Derivatives Confirmations Drafter / Capital Markets Analyst
Charlotte, NC: 100% Onsite!
5 Months Only!
$32 - $33/HR

Contractors are expected to be in office 5 days a week.
Project they'll be assigned to is likely to end in 5 months.

Part of COO Operations, supports OTC Derivative Trading, non-cash products.
This team supports the Confirmation team.
Because trades are bespoke in nature, this team prepares legal documentation for those contracts.
Take information from the hundreds of trades booked every day and ensure confirmations are signed and returned.
Have initial drafters, the more junior team members, and the final reviewers, who have 10-15 years of experience.
Also have an inbound team in India who ensure that clients sign the contracts and send them back.
There are many discrepancies, trades booked incorrectly, that need to be adjusted.
Tool is getting upgraded and this team is going to be doing regression testing.
More seasoned team members will be doing the testing on the system, the contractor will backfill the being pulled off the line by working with the initial drafter team.
About 1 to 2 months of training is expected, they'd like for someone to be able to pick up some level of work during the assignment.
Expect project to be winding down in 5 months. About 6-7 Initial Drafters, about 17 total team members in Charlotte.
Queue based.
System acts as a real time blotter as trades get booked.
Queue will be distributed by segments of the alphabet, like covering trades that start with J.
Cover about 10-15 trades per day.
Also have reports that need to be created.
Not expected to interact with clients, but will interact with front office to confirm trade details.

Top Skills
1 year of Capital Markets experience, experience booking or allocating trades.
Derivatives experience.
ISDA experience
Middle office experience can work
FINRA 99 could be good, but not expected from a junior resource

Role/Responsibilities:
The team supports the documentation of credit, fx, equity, commodity, and rates derivatives trading.
Approximately 200 trades daily and is responsible for the management and documentation of all trade lifecycle activity.

Daily Responsibilities:
Principally responsible for drafting and verifying the accuracy and completeness of confirmations for a variety of products and business lines, including commodity derivatives, credit derivatives, equity derivatives, rates derivatives, and foreign exchange
Responsible for minimizing financial losses by identifying and resolving trade capture errors, reconciling trade activity between system of record and any trade-related documentation, and ensuring all economic terms and necessary protective and fallback clauses are confirmed
Serve as liaison with all lines of business, internal legal and compliance departments in the development or revision of confirmation templates in compliance with existing and future regulatory requirements
Responsible for supporting complex U.S. securities or over-the-counter (OTC) derivatives transactions
Continue to be aware of and aid the team's compliance with regulatory, tax-related, and asset class-specific market developments by, among other activities, attending and participating in internal and ISDA-organized working groups
Regularly seek opportunities to improve processes, controls, and procedures to improve efficiencies, deepen the team's understanding of products, and mitigate risk
Partner with the project team to develop requirements for system enhancements and assist with user acceptance testing.

Qualifications:
Strong knowledge and understanding of derivative products and with drafting OTC Confirmation experience required.
Basic Microsoft Office skills.
Excellent verbal, written, and interpersonal communication skills.
Effective organizational, multi tasking, and prioritizing skills.
Ability to work in a fast-paced deadline driven environment.
A BS/BA degree or higher in accounting, finance, or economics.
Strong analytical skills with high attention to detail and accuracy.
Advanced MS Office (Word, Excel, Outlook and PowerPoint) skills.

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