Cdsclear Operations Middle Office Officer

Credit Default Swap Operations Manager

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.

Key responsibilities

• Develop and maintain a strong operational control environment, performing daily/weekly/adhoc controls
• Ensure timely resolution and/or remediation of exceptions & issues
• Ensure adherence to important metrics, agreed contracts, and internal requirements
• Support regulatory reconciliations and compliance activities
• Maintain complete documentation of procedures, checklists, user guides, and audit trails
• Follow up and implement audit recommendations (operational risk controls & compliance)
• Ensure transparent communication regarding operational issues

• Build and maintain strong relationships with business partners including DTCC, TradeServ, Bloomberg, Tradeweb, Markit & PTTR
• Ensure smooth handover of the production service to the New York Operations team at the end of European hours
• Work collaboratively with Technology, Risk, PMO, and other functions
• Support the development and expansion of the client clearing business
• Work with other departments and external partners to agree tasks, plans and responsibilities
• Provide effective communication with members and clients during European business hours

• Apply expertise to resolve operational issues in an accurate and timely manner
• Take initiative, be a self-starter and make decisions for remediating and fixing production issues
• Support the Head of CDSClear Operations in coordinating and handling tasks on production and test environments
• Provide the highest level of service to both members and clients
• Support the increase of volumes through backloading and intraday clearing
• Assist in the implementation of new clearing releases on test & production environments
• Resolve technical issues in conjunction with application support, network, and development teams
• Identify and escalate incidents to internal colleagues when needed
• Actively participate in UAT testing, member onboarding setup, and project implementation activities
• Create and complete comprehensive test plans for new functionalities and services
• Document and express detailed operational requirements for system enhancements
• Define test scenarios and test cases based on business requirements

• Regularly identify ways to improve departmental processes and policies
• Support continuous improvement in operational efficiencies and tools
• Implement change in line with the business plan to fulfill departmental objectives
• Support product and service development initiatives
• Adapt to changing market and regulatory requirements
• Contribute to operational change initiatives
• Ensure that operational needs and requirements are appropriately gathered for production monitoring

Required Skills and Qualifications

Education and Experience

• Degree or equivalent experience
• Experience in an operations role within financial services
• Understanding of the Credit Derivatives markets and products with previous experience in the Middle-Office or Back-Office of a financial institution
• Experience with clearing operations and OTC derivatives preferred
• Knowledge of financial services industry rules and regulations

Functional Knowledge

• Demonstrate a deep understanding of the clearing environment and the future direction of OTC and exchange traded business
• Strong understanding of clearing and CCP services
• Advanced knowledge of Credit Default Swap products and credit events
• Familiarity with operational systems and processes
• Understanding of risk management principles and best practices in running an operations service
• Excellent French and English written and verbal communication skills
• Understanding of testing methodologies and best practices
• Ability to interpret business requirements and translate them into test cases

Professional Competencies

• Ability to take ownership and willingness to be accountable with a strong results-focused demeanour
• “Can do” mentality and initiative to be a self starter
• Strong team ethic and ability to work collaboratively across teams and departments
• Excellent communication skills
• Problem-solving capabilities
• Ability to handle expectations of clients
• Strong organizational skills and attention to detail
• Strong organizational skills and ability to prioritize opposing demands
• Experience in expressing and documenting operational requirements

This role offers significant opportunity to contribute to the growth of our CDSClear business line while working with ground breaking technology and processes in a dynamic market environment!

Join us and be part of a team that values innovation, quality, and continuous improvement. If you're ready to take your career to the next level and make a significant impact, we'd love to hear from you.

LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.

Our purpose is the foundation on which our culture is built. Our values of Integrity, Partnership, Excellence, and Change underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.

Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 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.

We are proud to be an equal opportunities employer. This means that we do not discriminate on the basis of anyone's 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 mental health or physical disability needs.

You will be part of a collaborative and creative culture where we encourage new ideas. We are committed to sustainability across our global business and we are proud to partner with our customers to help them meet their sustainability objectives.

Our charity, the LSEG Foundation provides charitable grants to community groups that help people access economic opportunities and build a secure future with financial independence. Colleagues can get involved through fundraising and volunteering.

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