Middle Office Specialist

JOB PURPOSE

The Job holder will be a key member for the Middle Office of the Swiss Private Bank. This department acts as the Centre of Competence for the Private Banking system and e-banking, handles the interaction with the outsourcing provider and Group, and various operational tasks.

• Performing various reviews and controls on the outsourcing provider, such as follow ups on securities and cash reconciliation results, follow up on prices that could not be priced by the back office, reversal reports (when relating to middle office), etc.
• Performing various internal controls within the Bank, such as on counter parties, four eyes controls on payments (including correct supporting documentation in place), fees control, and other first line transactional controls on the private banking and investment teams.

Execute and control operational activities of the Bank which include:

• Reporting,
• SWIFT messaging
• Middle Office Securities and Cash transactions processing and monitoring support
• 4 eyes check on Payments / Money Transfers to ensure correct supporting documentation
• Securities and Cash reconciliation, review and follow up from items raised by back office rec. team
• Retrocessions management
• First-line Transaction screening monitoring and release – SWIFT and SIC
• Follow up on transactional aspects with ASSL.
• Support of the Front, trading desk and other Bank departments on various transactional queries
• Various ALM and Cash Management Controls
• Operational reporting to Swiss authorities (transactional taxes such as stamp tax and withholding tax), as well as QI and FATCA
• Credit Cards and cheques management
• Pricing of items that cannot be priced by the back office
• Back-up support on Cash Teller services and vault access
• Investigation into all Securities and Cash transactional / movement queries received from clients, front office, etc.

• Identification of process and solution improvements
• Assistance with all policies & procedures in the operational domain, and operational aspects of all policies & procedures.

• Middle Office is the contact point within the Bank on the Avaloq system, and also co-ordinates with Avaloq sourcing on all back office and Avaloq issues.
• Involvement on Avaloq projects, including project and upgrade requirements, co-ordinating internal testing, and ensuring all staff appropriately trained.
• Escalation management for tickets with Avaloq Sourcing.
• Internal Avaloq Centre of Competence – including being a contact for how-to questions, training staff on best practice and ensuring knowledge shared within the Bank, and reducing the amounts paid to the vendor for such services.

Assisting in project management of all assigned projects within the Bank, with particular focus on requirements definition, analysis sign off and testing of related amendments.

• At least 5 years experience in the Swiss banking environment, ideally with internationally exposure, either in a back office or middle office role.
• Good knowledge / experience in banking operations aspects
• Excellent communications skills
• Multi- tasking & ability to work autonomously and under pressure
• Excellent knowledge of Avaloq core banking system and operational aspects
• Project management skills are an advantage
• Strong problem-solving skills
• Either University degree or Swiss Banking apprenticeship
• Speaks and writes fluent English. French and Italian are a plus
• Strategic thinking and analytical ability
• Initiative / Innovative
• Knowledge of Excel VBA is an advantage