Senior Derivatives Operation Analyst

Are you looking for a supportive and collaborative workplace with great benefits and clear career development? You've come to the right place.

Why choose Manulife?

• Competitive Salary packages and performance bonuses
• Day 1 HMO + FREE coverage for your dependents (inclusive of same-sex partners)
• Retirement savings benefit
• Rewarding culture that values wellness and well-being
• Performance Bonus
• Global network of industry experts
• Extensive training resources

Job Description:

We are seeking a meticulous and detail-oriented Senior Derivatives Operation Analyst to join our team. The successful candidate will be responsible for ensuring the accuracy and integrity of trade data, validating trades, and supporting the overall trade lifecycle. This role is critical in maintaining operational efficiency and compliance with regulatory standards.

The Senior Derivatives Operation Analyst is responsible for various reconciliation and settlement processes supporting the Global Derivative Services model:

Key Responsibilities:

• Manage processes related to listed derivatives and OTC, focusing primarily on reconciliation and settlements.
• Oversee the entire lifecycle from trade date to settlement date, developing expertise in pre-matching and confirmation, trade processing, funding, and settlement monitoring, as well as handling post-settlement activities like fails management and reconciliations.
• Provide support to various internal and external stakeholders, including the front office, clients, brokers, Nostro agents, exchanges, and clearing houses, ensuring adherence to market standards throughout the settlement process.
• Maintain daily communication with Asia-based clients and external counterparties, addressing any settlement-related inquiries.
• Assist the lead in tracking the daily completion of tasks and drive improvements through process enhancements or digitalization to meet operational objectives.
• Collaborate with onshore stakeholders and internal teams to resolve any issues related to the settlement process and systems.

Primary (detailed) Responsibilities:

• Deliver daily operational support for the reconciliation and settlement processes of derivative instruments, including initial/variation margin reconciliation and settlement for futures, cleared swaps, and FX (spot and forwards).
• Verify and confirm trade details by comparing our internal system records with counterparty trade recaps to ensure accuracy and completeness.
• Address and resolve trade discrepancies promptly to uphold data integrity.
• Work closely with front office, middle office, and back-office teams to ensure smooth trade processing.
• Track and report on trade validation metrics and performance indicators.
• Ensure trades across various financial instruments are settled accurately and on time.
• Conduct checks on critical settlement information, such as standard settlement instructions.
• Handle pre-settlement and post-settlement investigations and resolve disputes using Markit and signed confirmations, which may involve correcting system setup errors.
• Collaborate with brokers, custodians, and counterparties to address and resolve settlement issues and discrepancies.
• Work closely with the Business Unit and other local and offshore teams to clear and reconcile all breaks, including coordinating with the IT team for any failed or delayed workflows and tasks.
• Assist the Business Unit in preparing and providing monthly and quarterly reports and reconciliations to other internal teams and stakeholders.
• Foster strong relationships with brokers and counterparties by ensuring all service level agreements (SLAs), including daily bank/broker cut-off times, are consistently met.
• Participate in testing process improvements and projects related to Settlements and other Derivative Operations functions.
• Work with the Accounting team to resolve suspense breaks during reconciliation periods and assist the Business Unit in gathering documentation for annual audit requirements.
• Handle internal ad hoc requests from various groups promptly and efficiently.
• Update or create new process documentation for all tasks relevant to the position and maintain an internal database of these documents.
• Suggest enhancements to existing processes to improve the group's efficiency and effectiveness.
• Assist in collecting data for quarterly metrics reports for senior management.
• Complete reporting duties on a daily, weekly, monthly, quarterly, and annual basis in a timely manner.
• Support the Global Derivatives Services team in building capacity and depth to meet the organization's current and future derivative needs.

Knowledge/Skills/Competencies/Education:

• College / University graduate (preferably Math, Business, Finance or related fields) with minimum 2 to 3 years work experience in Banking, Finance and/or Investments field.
• Knowledge and exposure to derivative products such as Swaps, FX, Options, Futures and Forwards and/or Collateral Management functions relevant to coupons, commission schedule, broker fees, and initial/variation margin.
• Knowledge and understanding of trade life cycle and varying levels of reconciliation.
• Familiarity with broker statements / portal and general knowledge of custody operations.
• Computer literate with proficiency in Microsoft Office applications, intermediate to advanced knowledge in MS Office macros is a plus.
• Knowledge and understanding of ISDA, CSA, Give-Up Agreements.
• Knowledge and familiarity on bank/suspense reconciliation, understanding of SWIFT and international wire instructions.
• Client focused with the ability to understand the requirements of clients.
• Good problem-solving skills with high level of accuracy, and attention to details.
• Ability to react quickly and meet tight deadlines maintaining accuracy and thoroughness.
• Excellent English skills, both oral and written, with strong comprehension skills to effectively communicate with internal and external parties.
• Demonstrate initiative and a team player.
• Ability to adapt to changes, and set priorities.

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About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit this link.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact recruitment@manulife.com.

Working Arrangement: Hybrid