What are the responsibilities and job description for the Operations Specialist - Futures position at Millennium Management, LLC?
Operations Specialist - Futures
Job Function Summary
The Operations Specialist role will support trading activity of portfolio managers trading listed Futures and Options on Futures. The role will primarily focus on clearing & reconciliation, with primary responsibilities targeted towards US exchange (CME / CBT) trade clearance, trade booking, and lifecycle / event management of futures / future option trades and positions. The candidate should have subject matter expertise in the intricacies of futures clearing, exchange clearing systems, the management of lifecycle events related to futures / options on futures for US (CME / CBT) exchanges, and management / booking of EFRP & Block trades at the exchange. The candidate should be open to working during off-hour shifts. Some late nights and weekends are required.
Principal Responsibilities
- Oversee trade clearance of futures / options on futures on US Exchanges; with primary focus on CME / CBT markets
- Liaise with Executing Brokers and clearing firms for break resolution on T0 / T1. Resolve out-trades and breaks with opposing firms. Default and suspense trade management of trades and positions
- Set-up / maintenance of accounts, EB, & counterparty static in internal / external trading & clearing systems. Ensure proper controls are in place to effectively manage trading and clearing risk
- Manage EFRP & Block trade submission, booking, and settlement at the exchange. Ensure trades are properly booked in internal / external systems and follow all exchange / regulatory requirements
- Manage lifecycle events for the firm's futures positions. Notify PMs of early / contra option assignments & ensure positions are properly reflected in internal booking systems for these events
- Coordinate amongst various internal and external stakeholders, to efficiently and effectively maintain controls, mitigate risk, and resolve trade / position related issues
- Participate in ad-hoc projects / initiatives and work with colleagues across the firm to implement process changes / improvements
- Establish working relationships with trading teams in order to answer daily queries in a prompt and controlled manner
Qualifications / Skills Required
