Head of Fixed Income Operations; VN

Head of Fixed Income Operations (VN3103)

New York, NY,

Operations,

Full-Time

About Marex

Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets.

The group provides comprehensive breadth and depth of coverage across four core services: clearing, agency and execution, market making, and hedging and investment solutions. It has a leading franchise in many major metals, energy and agricultural products, with access to 60 exchanges. The group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.

With more than 40 offices worldwide, the group has over 2,300 employees across Europe, Asia and the Americas.

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Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights, and analytics.

Operations is first and foremost a control function. As such the Fixed Income team must ensure controls are followed and always evaluated for improvement. The team consists of one manager and six staff. While everyone has a daily focus, the expectation is to be cross trained as much as possible. Any single function performed within this team should have a minimum of 2-3 employees who can step in and comfortably complete the task(s).

Role Summary

Fixed Income Operations supports the Credit, Rates, MBS, Repo, and Customer Clearing businesses. The Fixed Income business is well established in both the US Rates and Credit markets with a growing Fixed Income PB business. The Fixed income business is supported primarily on vendor systems, with Broadridge and Pershing being the two most used for this activity.

The Marex Ops team is responsible for supporting the full life cycle events for all fixed income products traded by the various businesses. While a large portion of the daily functions have been outsourced to the Broadridge Managed Products Team, Marex is ultimately accountable for all output, and thus supervising the Broadridge team’s work is imperative.

Responsibilities

• Manage and develop Fixed Income Operations team, and supervise work performed by outsourced Operations Team (particularly Broadridge BPO)
• Work closely with the Front Office to establish best practices and gain efficiencies
• Review and assist with team’s resolution of customer unaffirmed trades, street-side breaks, and failed trades
• Monitor status of Regulatory Trade Reporting for all Fixed income trades (TRACE)
• Partners with internal stakeholders to onboard new business streams and/or vendors
• Serve as escalation point for all Fixed Income related life cycle events. (Corporate Actions, Settlements, Fails, Securities financing)
• Adhere to and propose improvements to control framework
• Review daily controls across credit and rates vendor systems. (Broadridge, BNY BDC, Pershing NetX
  360)
• Work with all vendors and internal parties to increase automation and strengthen control framework
• Supervise defined processes to adhere to regulatory requirements, including but not limited to Possession or Control, 17a-5, transaction reporting, and surveillance
• As a Control Owner or Manager of a Control Owner you are expected to (where relevant):
  • Be responsible for maintaining the internal control assigned to you in compliance with Sarbanes Oxley
• Day-to-day implementation,…