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Senior Analyst, Middle Office

Employer
Ruffer LLP
Location
London, United Kingdom
Salary
Competitive
Closing date
Aug 1, 2023

View more

Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Do you have solid experience working within the asset management industry, in portfolio cash management or a hedge fund treasury function?

Do you have working knowledge of the end-to-end derivatives trade lifecycle, with a particular interest in working closely with portfolio managers to predict margin and cash requirements?

We are looking for a Senior Analyst to join our brand-new Middle Office team, providing the opportunity to scope and build a new function and develop strong relationships at a senior level across the core investment teams. The successful candidate will be responsible for creating a portfolio cash management function for derivatives strategies implemented in our funds. This will include cash management, monitoring and forecasting margin requirements and reporting to portfolio managers and investment leadership.

About Us

Ruffer is an independent private partnership with over £26.5 billion under management and around 340 members of staff. It manages investments on a discretionary basis for individuals, trusts, charities, companies and pensions as well as collective investment schemes. We have offices in London, Edinburgh, Guernsey, Paris and New York. Ruffer is regulated by the Financial Conduct Authority (FCA) in the UK.

Role summary - key tasks

Over the past two years, we have increased our in-house derivatives capability, launched new funds and expanded into new jurisdictions. As a result of this diversification, we are building a Middle Office function to support the pre-trade investment processes:
  1. Investment analytics. Providing high quality, relevant information to support effective and efficient investment decision making and communication of our investment strategy. Ensuring that those responsible for first line controls are clear on the requirements and have the appropriate data and context to manage risks.
  2. Centre of excellence. Centralising specialist functions to provide operational expertise and improve controls via consistent processes and tooling. These include (but are not limited to) developing a holistic framework for managing key counterparty relationships, portfolio cash management, costs and charges.


The first priority will be to establish effective oversight of the cash ladder for derivatives portfolios, using Aladdin and internal tools:
  • Understanding margin requirements for derivative positions within Ruffer funds; including exchange traded, cleared and bilateral OTC positions
  • Proactively reviewing cash balances and the cash ladder in Aladdin, including overdrafts and currency exposures.
  • Ensuring the portfolio managers are fully aware of their available cash and upcoming margin obligations at the start of day.
  • Strong understanding of pricing, margin calculation, foreign exchange and market colour around relevant derivatives instruments to provide context to portfolio managers
  • Highlight discrepancies to internal teams (Operations, Dealing, Portfolio Managers)

The medium term priority will be to review existing processes related to cash management across all fund and portfolio holdings, identify processes that are suitable for consolidation to provide monitoring, reporting and analytics to portfolio managers

Experience & knowledge required:
  • 3-5 years of investment operations experience within a financial services firm, ideally within asset/investment management
  • Good understanding of derivatives instruments and their use in investment portfolios (exchange traded and OTC) and the investment lifecycle
  • Experience in monitoring cash in a portfolio, margin calculation in multiple currencies
  • Ability to build strong working relationships with teams across the business
  • Aladdin experience, specifically using the cash ladder (Blackrock Solutions)
  • CISI Investment Operations Certificate (or equivalent) or willingness to study for a similar qualification


Personal skills, knowledge and talents:
  • Ability to define and run operational processes with a structured and diligent approach
  • Analytical and able to challenge constructively
  • Strong attention to detail, inquisitive and a proactive 'can-do' attitude
  • The ability to juggle multiple tasks and prioritise between them
  • Have good oral and written communication skills with an ability to work within a collaborative team environment
  • Effective autonomous problem solver and holistic thinker, who can find practical solutions to often complex issues
  • Appreciation of the Ruffer brand and the values it embodies


ALL-WEATHER INVESTING

We aim to deliver positive returns come rain or shine. If we are to be good all-weather investors, we cannot be dependent on the direction of markets. To avoid that dependency, we always hold investments in what we call growth and protection. We hold these alongside each other, changing the allocation to each over time. When the market sun shines, we expect our growth assets to prosper. When a market storm hits, our protective assets should provide shelter, defending the portfolio from a downturn. At Ruffer, we are committed to being good stewards of our clients' assets. To that end, environmental, social and governance (ESG) issues are fully integrated into our investment process. Whether it's climate change or indigenous rights, executive pay or workforce safety, we believe our considered approach helps us make better decisions. To the advantage of our clients' portfolios. To the benefit of the companies we invest in. And for the good of the environment and society.

Diversity, Equality & Inclusion

Ruffer strives for a diverse and inclusive workplace where our staff respect and understand individual differences. To create a truly inclusive culture, we aim to recruit, develop, and retain diverse talent and we positively encourage applications from suitably qualified and eligible candidates regardless of age, disability, gender reassignment, marital or civil partner status, pregnancy or maternity, race or ethnicity, religion or belief, sex, or sexual orientation.

Please note this role is based in our London office and as such you must have the Right to Work in the UK.

Ruffer operates a strict agency PSL and we do not accept speculative agency submissions.

Ruffer operates a 60:40 hybrid working policy, 60% of working time from the office and the option to work the remaining 40% from the office or at home.

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