Associate, Middle Office

THE OPPORTUNITY

Nearwater is growing its presence in Canada, and the Toronto Middle Office Associate will be part of a team of Middle Office specialists dedicated to Nearwater's businesses. You will be a main point of contact for operational queries from our client base and will work closely with the trading desk, Risk and our custodian banks. The seat centers on trade settlement for total return swaps (TRS) and repurchase transactions, and on strengthening the controls around them as the new business line takes shape.

WHAT YOU'LL DO

• Act as the main point of contact for client operational and settlement queries, working with the desk, clients and internal teams to resolve them.
• Settle trades with a focus on TRS and repo: confirm and finalize transactions, and communicate with brokers and custodian banks.
• Handle trade capture and allocation across swap and cash security hedge, clear trade exceptions, and resolve connectivity issues with our tech partners.
• Process trades, amendments, confirmations and static data updates accurately and on time, and correct booking discrepancies to keep positions accurate.
• Resolve open items on unaffirmed or unmatched trades, fails and static data, and escalate open exposure from disputes, settlement fails and margin calls to Risk.
• Perform front-to-back and control reconciliations to verify trade and cash positions from booking systems through to admin and custody.
• Support Front Office Sales and Trading on lifecycle management, and gather delivery instructions from custodian banks.
• Improve processes, workflows and tools, monitor controls to flag risks early, and coach and train new recruits and junior staff.

WHAT WE'RE LOOKING FOR

Required:

• 2 to 5 years of direct derivatives operations, or middle office experience at a financial services organization
• Solid operational expertise across settlements, lifecycle management, reconciliations, trade support, margining and corporate actions in global markets
• High-level knowledge of Cash Equity and Equity Swap products
• Strong knowledge of financial markets, the trade lifecycle and industry technology (AcadiaSoft, Markit, Bloomberg)
• Excellent organizational skills, strong problem-solving and strong verbal and written communication

Preferred:

• General knowledge of derivatives beyond equity swaps

HOW YOU WORK

• You take ownership: self-motivated and proactive, you own projects and look for ways to reduce risk by continually evaluating our controls.
• You stay organized and keep several tasks moving at once in a structured, high-volume, time-sensitive environment.
• You work well with others across our custodian bank, counterparties and trading teams, and equally well independently.
• You keep risk front of mind and escalate potential issues promptly.
• You speak up: we run a collaborative culture where every voice is heard.

WHAT YOU'LL GET

• A central role in developing a new business line and regional footprint as Nearwater grows its Canadian presence.
• Exposure to highly complex and innovative financial transactions.
• A lean team where you learn how functions across the firm work, from risk and finance to legal and operations.
• A fast-paced, intellectually stimulating environment where no two days are the same, with a steep career trajectory.

WHO WE ARE

Nearwater Capital is a rapidly growing and innovative specialty finance company headquartered in New York City with a global presence and client base. Established in 2017, Nearwater has distinguished itself as a leader in delivering thoughtful, solutions-based financing to some of the largest financial institutions and financial services firms in the world.

Nearwater offers an attractive market compensation and benefits package. As a creative, intellectual capital firm, Nearwater is proud to be 100% work from office.

Nearwater Capital considers all applicants without regard to race, color, religion, national origin, age, sex, civil status, family status, ancestry, physical or mental disability, veteran status, gender identity, sexual orientation, membership of the Traveller community, or any other characteristic protected by applicable law in the jurisdiction of employment. By applying, candidates acknowledge that their personal data will be processed in accordance with applicable data protection and privacy laws, including but not limited to the EU/UK General Data Protection Regulation and applicable US state privacy laws.