Specialist: Derivatives Clearing

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:

• • Settlement of daily JSE margin calls
  • Monitoring of client exposure against available funds

• • Commodity Derivatives
  • Equity Derivatives
  • Interest Rate and Currency Derivatives

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