Derivative Operations Associate

  • Location


  • Sector:

    Banking, Financial Services

  • Job type:


  • Salary:

    £25,000 - £30,000

  • Contact:

    Renee Henze

  • Contact email:

  • Job ref:

    VAC 355

  • Published:

    about 1 year ago

  • Expiry date:


  • Client:


PLEASE NOTE - This is a Job Share - 3 days a weeks - Wednesday, Thursday, Friday

About Mizuho

Mizuho International plc (Mizuho International) is the London based securities and investment banking arm of the Mizuho Financial Group, Inc., and is a wholly owned subsidiary of Mizuho Securities Co., Ltd.  With a primary focus on client based activities, its wide range of services includes sales and trading in both debt and equity securities, the underwriting of new issues and M&A advisory services.  Mizuho International is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and is a member of the London Stock Exchange and LCH. Clearnet Limited.

Mizuho International has a Branch in Dubai, United Arab Emirates (for which the operating name is Mizuho International plc (DIFC Branch)) and a Representative Office in Madrid, Spain.  In addition, Mizuho International has a subsidiary (Mizuho Securities Europe GmbH) in Frankfurt, Germany.


The Operations Department

The Operations department provides all operational support functions for the Company’s businesses such as fixed income trading and sales, Japanese and European equity trading and sales, Derivatives, Treasury management and other new business lines developed by the Company. Operations plays a key role in delivering an optimal, full-spectrum service for all clients and is structured by product and aligned to support all businesses as appropriate in trade capture, reference data mgmt., cash management, securities and cash reconciliation, settlement, Corporate Action processing, tax reclaims, collateral mgmt., client valuations, trade & transaction reporting and confirmations. In addition to the day to day workflow, Operations also supports all of the ongoing business and industry driven projects within the Company as well as any new product development with the business lines in conjunction with other control units and Mizuho International’s Information Systems Department


The Role

To provide Trade Support and Back Office services to the Derivatives Business, this includes both OTC and Exchange traded Derivatives.

Key Responsibilities:

  • Responding to Front Office enquires and clearing issues.
  • As ETD SME, Processing of Futures, ensuring that key controls are performed with our Clearing Agents.
  • Monitoring ICE, Murex & Optic to ensure trades STP correctly
  • Monitoring both the MarkitServ and Markitwire platform to ensure data is captured and confirmed accurately by the outsourcing agent
  • Review Reconciliation reports and investigate system breaks between, Bloomberg, Murex and GlobeOp.  Publish findings and potential issues
  • Execution of OTC ISDA Confirmation both incoming and drafting process adhering to internal and external driven targets
  • Timely management of exceptions in trade flow, with appropriate escalation for aged items.
  • Manage operational processing around Compression cycles for cleared swap transactions.
  • KRI and Risk Reporting, ensuring our metrics capture Key Risk Indicators and escalate emerging risks appropriately.
  • Assist with the evolution of the Derivatives Support function, evaluate the go-forward operating model and enable new business initiatives.
  • Work closely with technology, establish required system enhancements, drive prioritisation and plan/manage change for the function, in particular Futures initiatives
  • Contribute towards simplifying any complex, inefficient process’ and show demonstrable improvement
  • Ensure the regulatory responsibilities are understood with processes and controls established to ensure compliance


Person Specification:

Essential Experience                                                                                

The role requires SME capabilities around the products alongside an excellent working understanding of the Derivatives industry, from trade booking to                                                        settlement. The candidate must be flexible and able to work to tight deadlines but maintain the very highest standards.

  • Equivalent experience at an Investment Bank, working in a Derivative Middle / Back Office capacity.
  • Full understanding of Derivative Products and their lifecycle events.
  • Worked with an outsource provider as part of the day to day responsibilities.

Essential Technical Knowledge/Skills

  • Knowledge of ETD & Derivative products (including TRS and Equity Swaps, CDS, Swaps, NDF, Convertible Bond Options and Futures) process and associated regulation;
  • Exposure to Murex Middle and Back Office.
  • Good understanding of cleared s processing, including JSCC, ICE and LCH.
  • Front to back understanding of Derivative Trade Flow, including Trade Capture, Confirmation, Settlements, Compression and Valuations.

Desirable Technical Knowledge/Skills

  • Understanding of broader upcoming regulatory issues and their impact on the industry
  • Participated in Projects

Essential Qualifications

  • Educated to A level or equivalent experience.

Desirable Qualifications

  • Educated to degree level or equivalent experience.

Mizuho International is an equal opportunities employer and welcomes applications from all sections of the community.  If you require more information about our equal opportunities policy, wish to discuss any reasonable adjustments that you as an applicant may need require an alternative format for your application please contact Renee Henze on


We are happy to talk flexible working.  Please contact and mention the requisition number in the subject line.