12 Month Internship – Middle Office Credit Support Analyst

Credit Agricole
Published
28 February 2024
Location
Borough, South East London
Category
Job Type

Description

Summary The Credit Middle Office acts as a support and control function for the activities managed in London by the Credit Market Business Line who works with financial products such as Bonds, CDS, CDS Indices; Synthetic and Cash CDOs, Index Tranches; Swaps, FRAs and Strips. The intern will assist in this.  Key Responsibilities The Credit Middle office offers dedicated support to all Credit and some Govies Trading Desks. The intern will assist in this.  Control: o Trade validation in FO systems (1st level of control) o CDS & Indices: Control of New Trades and Unwinds booking plus follow up o Swaps: Control of New Trades and Unwinds booking plus follow up o False/technical counterparty checks o Distressed Assets product line o Collateral discrepancy checks and investigation o Monitoring of STP flows  Support: o Novations (ad hoc and organised bulk): responsibility of e-platforms management, booking in FO systems and follow up with counterparties and BOs o Failed and alleged trades monitoring o Funding/re-financing: calculation and booking in FO systems o Syndication fees follow-up o CDS booking o Invoice Booking & P&L Transfers o Error Status Follow-up o Bilateral Compressions o ICE Compressions o Bond Exchanges and Funges  Credit & Succession Events: o Bank-wide management of Credit and Succession Events: responsibility of managing and prioritisation of all requests and questions pertaining to Credit Events in a timely manner. o Booking, FO communication, validation and materialising the P&L impact. o Co-ordination with other support teams such as: BO, Legal, Risk and MAM. o Compilation of information of the ISDA Determinations Committee decisions, Markit (refinancing/rename event).  Other ad hoc requests: o Specific stock reconciliation o Reporting / KPIs  Reporting o Investor Reports o Reporting / Statistics o Sensitivity to MIFID2 requirements  Management and reporting The candidate will report to the Head of London Credit MO  Key Internal contacts Credit Cash & Derivatives Front Offices â Structured and Flow products Risk management Reconciliations department Back Offices IT  Key External contacts Brokers DTCC and Novations departments at other banks  Systems Used Murex v2 and v3; MarkitWire; Bloomberg, Outlook, Microsoft Office, ICE, DTCC Novation Consent. Various in-house built systems  Essential: Ability to work in a team environment Strong attention to detail Ability to work well under pressure.

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