Trade Operations Analyst

The Department

Milliman Financial Risk Management LLC (Milliman FRM)—an SEC registered investment advisor—is a global market leader in risk management and hedging support services. The Milliman FRM team is passionate about transforming the way the world manages portfolio risk and plans for retirement. Established in 1998, the Milliman FRM practice includes more than 100 professionals from around the world, operating from three trading platforms (Chicago, London, and Sydney). This global platform allows the firm to monitor and maintain hedge portfolios around the clock greater than US$600 billion in underlying account value.

The Role

As part of the Trade Operations Group, you will be responsible for providing end-to-end post-trade operational support for a group of assigned clients. This will include handling the trade settlement, collateral and client reporting for a group of trading desks, portfolio managers and clients. You will be a primary point of contact in supporting all day-to-day post-trade operations for assigned clients. 

You will be enhancing the efficiency and reliability of our Middle and Back Office operations through automation and systemization. You will be involved in designing and building scalable solutions for trade lifecycle processes as well as assisting with data management strategy.  You will also be involved in supporting the day-to-day trading operations for our clients.

You will:

• Perform root cause analysis on current infrastructure design weaknesses and provide feedback on future state design.
• Work collaboratively with multiple stakeholders to help design and deploy a data operating model across the front, middle and back offices.
• Identify, perform analysis, and resolve trade and settlement breaks.
• Oversee high level account balances and margin requirements; execute transfers to meet margin requirements.
• Work directly with counterparties, custodians, banks and other interested parties to ensure all actions on behalf of the client are resolved and reconciled in a timely manner.
• Produce and distribute reporting to clients and third-party service providers.
• Collaborate with other areas of support including Governance & Risk Management, Portfolio Management, Capital Markets and Trading, Actuarial, Trading Technology and Legal/Compliance
• Create procedures and document process flows.
• Additional responsibilities as group continues to expand in business and complexity.

Job Knowledge Required

• 4-7 years of experience in treasury, trade, or investment operations
• VBA knowledge strongly desired
• Prior experience in data management that may include data design, governance, operations or architecture. Experience with SQL, Python, and other programming languages a plus
• Basic to Intermediate knowledge of one or more of the following products: Futures, Listed Options, Cleared OTC Derivatives, Equities, and Bilateral Non-Cleared OTC Derivatives.
• Basic to Intermediate knowledge of cash and collateral management in one or more of the following areas: FCM Margin (Futures, Cleared OTC), PB / Portfolio Margining, Reg T, OTC Collateral including US/EU/APAC Reg IM and FX.
• Experience with managing different aspects of the post trade life cycle from beginning to termination including allocation, confirmation, reconciliation, clearing settlement, valuations/exposure management, and corporate actions for Derivatives, Fixed Income, or Equity products in domestic and international markets.
• Bachelor’s degree in finance, economics, or other relevant fields

Experience and Soft Skills Required

• Experience with Acadia, TriResolve or TriOptima platforms is a plus.
• Ability to work in a fast-paced environment where the client is always our first priority.
• Proven record of reliability and dedication to high quality work
• Sharp critical thinking skills, sound judgment, and decision making ability
• Both the ability and willingness to clearly articulate your ideas and provide and accept feedback
• Strong written and verbal communication skills
• Ability to work both collaboratively and independently

Additional Knowledge and Skills to Build

• Sharp critical thinking skills, sound judgment and decision-making ability, and both the ability and willingness to clearly articulate your ideas
• Demonstrated aptitude for quantitative and critical thought
• Experience with financial markets, mutual funds, portfolio management, and derivatives
• Experience coding complex projects in VBA
• Experience working with databases (SQL, Access)
• Experience coding in C#, Python or R.

Milliman & FRM Practice Mission, Values, Competencies

Our mission is to serve our clients to protect the health and financial well-being of people everywhere. We our influential market leaders, solving important problems through our deep subject matter expertise.

In fulfilling this mission and values, Milliman’s professionals are helping our clients answer significant questions, such as:

• How can people provide for themselves when they no longer work?
• How can our clients efficiently finance, deliver and improve healthcare?
• How can an insurer protect its clients against the risks they face?

Since its founding in 1947, Milliman is dedicated to enduring values that govern our actions in the marketplace.

• Quality – Milliman’s advice, products and client service adhere to the highest standards of quality.
• Integrity – Milliman’s people demonstrate integrity in all that we do. We are committed to honesty and professionalism in our interaction with our clients and colleagues, including independent advice free of conflicts and a culture of inclusion and respect for all colleagues.
• Opportunity – Milliman is committed to embracing diversity and providing all our people opportunities to achieve their full potential including opportunities to:
  • Shape their own careers
  • Assist in developing the strategy of their practice
  • Pursue innovations to further Milliman’s mission in the marketplace.

At the Practice level, we strive to demonstrate the following performance competencies in our work, and to ensure mutual accountability, these are part of our performance management process:

• Collaboration and Teamwork – Actively works with members of other teams when confronted with a new or complex problem. Collaborates with people in other teams when asked to provide assistance. Coordinates work of teammates to complete routine work efficiently.
• Communication – Communicates clearly and concisely. Gives enough information, keeps team members informed. Listens effectively. Encourages others to express different ideas and perspectives. Open to constructive feedback. Gives quality, honest feedback. Effectively deals with conflict.
• Develops People – Develops team members through coaching, feedback, exposure and challenging assignments. Readily articulates the value and benefit of challenging assignments to others. Aligns career development goals with organizational objectives. Supports team members and helps them achieve results. Provides a clear sense of purpose and direction for team members.
• Innovation – Challenges the organization to adapt new and innovative processes. Creates an environment conducive to productive brainstorming and new idea creation. Generates innovative ideas and solutions to problems. Questions assumptions and traditions while understanding their reason for existing. Encourages creative and diverse thinking to promote and nurture innovation.
• Positive Culture – Shows respect for all colleagues. Considers “how” accomplishments are achieved in equal measure with “what” is achieved.
• Quality – Continuously deepens their expertise in their area(s) of work. Possesses technical skills and capabilities. Effectively manages work for clients and client relationships. Effectively manages work quality within the team. Effectively pursues or supports business development opportunities. Demonstrates good decision making in areas related to managing the business.

Diversity, Equity & Inclusion is an important area of focus for our practice and we expect all colleagues to foster a culture of belonging for all team members. We seek to continuously reflect on how we can be a more inclusive and equitable organization. We view diversity as not only a strength for our practice, but a business imperative to succeed in the marketplace.

Performance and Career Growth

This job description is intended to represent the duties of the role, and the knowledge, skills and experience needed to perform the role effectively.  Our job descriptions will be used to set expectations for performance management, but no job description will represent all tasks and duties required. As professionals, our Practice also expects from you the following:

• A client centric culture requires all colleagues to think about how we can contribute to exceptional client service. We expect all colleagues to think this way, and to take appropriate action whether a task is in their job description, or not.
• Risk mitigation is central to our ways of working and our culture. We expect all colleagues to continually assess risk and raise concerns for the awareness of others who can work together to mitigate them.   
• Performing the duties described in a job description meets the minimum requirements of a job. In order to receive career growth and compensation rewards, colleagues must exceed minimum expectations.
• There are a number of administrative responsibilities that come with working in our Practice. Timesheets, expense reports, performance management and compliance training are all required to ensure professional administration of our Practice, and all colleagues are expected to engage in these items in a timely manner.