Job Description:
Our primary service offering to clients is to clear, settle and report on Exchange Traded Derivative contracts traded on the JSE platform. Derivatives Clearing Specialists are responsible for:
- Client service and query management
- Risk management
- Settlement of daily JSE margin calls
- Monitoring of client exposure against available funds
- Clearing and understanding of products across different markets
- Commodity Derivatives
- Equity Derivatives
- Interest Rate and Currency Derivatives
- Acceptance and allocation of derivative trades from interdealer brokers obo offshore clients
- Shift rotation according to different market closing times.
- Operational duties as described in more detail below.
Key Responsibilities:
- Process daily cash settlements and transfer instructions
- Engagement with clients and stakeholders
- Balancing the daily JSE derivatives clearing markets and electronic reporting.
- Reconciliation of daily trade data
- Position and deal management
- On boarding of clients
- Reconcile internal Derivatives Clearing cash account (house account)
- Month end processes
- Attend and resolve client queries, requests and instructions
- Prepare payment for physical deliveries on commodity market and email notices to clients
Qualifications:
- Minimum qualification: National Diploma in Financial Markets
- Preferred qualification: Degree in Business Commerce Business Management or Economics or relevant qualification
Other Preferred qualifications, certifications or professional memberships
- South African Institute of Financial Markets (SAIFM)
- Introduction to Financial Markets Regulation and Ethics of South African Financial Markets
- The Derivatives Market
- The Equity Market
- The Bond Market
- The South African Foreign Exchange Market
- The South African Money Markets
- Agricultural Products Dealers Exam Internal Training
Experience:
- Corporate Banking (Transactional Products and Services) 3-4 years’ experience in Financial Markets and/or Derivatives Markets
- Risk Management (Transactional Products and Services)1-2 years’ experience in understanding client exposures and ensuring risk mitigants are adequately applied, failing which appropriate action required to manage collateral deficits
Preferred Experience:
- Corporate Banking, 3-4 years in relative market experience specific to derivative markets offered by the JSE, general understanding and operationally driven
