Job Information
Marex Operations Support – Physical Deliveries in London, United Kingdom
About Marex
Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a major franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. 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.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 36 offices worldwide, the Group has over 1,800 employees across Europe, Asia and America.
For more information visit www.marex.com (http://www.marex.com/)
Role Summary
To manage and control risk on all futures and options expiries, and physical deliveries.
Overview of Marex / Department description
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.
The Deliveries department sits within Operations, providing global support to clients and front office areas to help them tender physical products on the terminal market.
Skills and Experience
Experience working in a regulated environment/ SOX control environment and knowledge of the risk and compliance requirements associated with this
Proficient understanding of the lifecycle of a trade from execution, clearing, and settlement
Managing the lifecycle of contracts that go to physical settlement
Strong understanding of a client statement and various contracts (cash/physical) and how they behave (cascading/erosion).
Experience working with European clearing systems/ GUIs for both clearing and expiry
Desire to make change and improve/automate processes
Ability to assess risk at expiry and act accordingly
Strong team player
Strong PC skills
Strong communication skills – written and verbal
Excellent time management skills and ability to work to strict deadlines
Good attention to detail and accuracy
Competencies
A collaborative team player, approachable, self-efficient and influences a positive work environment.
Demonstrates curiosity.
Resilient in a challenging, fast-paced environment
Ability to take a high level of responsibility in a fast pace and high-volume environment.
A client and business focus - Effectively handle difficult requests, build trusting, long-term relationships with clients, help the client to identify/define needs and manages client/business expectations.
Personal drive and motivation - Successfully handle multiple tasks, take initiative to improve your own performance, work intensely towards challenging goals.
Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness.
Excellent verbal and written communication skills
Excellent excel skills, including SQL.
A collaborative team player, approachable, self-efficient and influences a positive work environment.
Demonstrates curiosity.
Resilient in a challenging, fast-paced environment
Ability to take a high level of responsibility in a fast pace and high-volume environment.
Excels at building relationships, networking and influencing others.
Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness.
Overall Responsibilities
Manage all physical asset classes, including but not limited to, Natural Gas and Power, Gasoil, Equities, Emissions, FX, Soft Commodities and Metals
Manage option expiries for European clients and execute client instructions (exercises/abandonments) on various Exchange terminals
Manage day-to-day risk on expiries (futures & options) to ensure clients stay with set parameters
Liaise with Client Services, Treasury and Control regarding trade break queries
Create and maintain detailed procedures: assess processes both internally and externally to improve controls and efficiency
Recognise Exchange deadlines and escalate issues to various stakeholders to ensure clients are flat prior to Last Trade Date or Notice Period
Recognise the importance of reconciliations and understand various margining concepts such as SPAN, CVM, and Delivery Margin
Projects – propose enhancements and work with the systems support team for development
Ensure Senior Management/ Risk are aware of all physical deliveries and escalate issues
Awareness of sanctions and their impact on physical deliveries
Ability to understand client reporting requirements and translate these into deliverable solutions using ION applications & SQL
Able to manage high volumes of requests under tight deadlines
Maintain integrity. Chinese walls and compliance at all times
Procure new physical delivery offerings, research delivery procedures, and create Marex controls
Ensuring compliance with the company's regulatory requirements under the FCA
Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with
Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values
At all times complying with the FCA's Code of Conduct /Marex's Code of Conduct
To ensure that you are fully aware of and adhere to internal policies that relate to you, your role or any other activities for which you have any level of responsibility
To report any breaches of policy to Compliance and/ or your supervisor as required
To escalate risk events immediately
To provide input to risk management processes, as required
The Company may require you to carry out other duties from time to time
Conduct Rules
You must:
Act with integrity
Act with due skill, care and diligence
Be open and cooperative with the FCA, the PRA and other regulators
Pay due regard to the interests of customers and treat them fairly
Observe proper standard of market conduct
Act to deliver good outcomes for retail customers
Company Values
Acting as a role model for the values of the Company:
Respect - Clients are at the heart of our business, with superior execution and superb client service the foundation of the firm. We respect our clients and always treat them fairly.
Integrity - Doing business the right way is the only way. We hold ourselves to a high ethical standard in everything we do – our clients expect this and we demand it of ourselves.
Collaborative - We work in teams - open and direct communication and the willingness to work hard and collaboratively are the basis for effective teamwork. Working well with others is necessary for us to succeed at what we do.
Developing our People - Our people are the basis of our competitive advantage. We look to “grow our own” and make Marex the place ambitious, hardworking, talented people choose to build their careers.
Adaptable and Nimble - Our size and flexibility is an advantage. We are big enough to support our client's various needs, and adaptable and nimble enough to respond quickly to changing conditions or requirements. A non-bureaucratic, but well controlled environment fosters initiative as well as employee satisfaction.
Marex is fully committed to the elimination of unlawful or unfair discrimination and values the differences that a diverse workforce brings to the company.
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