Just got this from my recruiter… is this Back Office stuff or ‘Really-very’ Back Office stuff. Will it be helpful for me to gain the charter experience? --------------- Perform in-depth financial analysis of counterparties and recommend appropriate credit limits and also the performance analysis. Advise traders and marketers of credit risk involved with potential customers, transactions and proposals. Obtain open lines of credit from counterparties and respond to counterparty requests. Negotiate credit sections of contracts, netting agreements and other agreements. Run and distribute daily and weekly credit reports for Client’s business lines and senior management to provide weekly performance. Perform corporate level technical analysis of credit exposure reports, concentrations of credit risk to ensure compliance with Risk Management Policy Oversee the negotiation of parent guarantees, letters of credit and other credit enhancements for regulated and unregulated business lines. Work closely with front office and back office to ensure integrity of master agreements and credit provisions. Assist in the performance of monthly and quarterly SEC and Rating Agency disclosures, including, but not limited to, liquidity analyses and margin requirements in the event of downgrade events. Extensive experience in Trade Order management systems, including Charles River (CRD), Open Link Endur energy trading) and Triple Point (energy trading). Setting up compliance alerts, warnings and data exceptions for the Charles River Documented attributes of performance management systems, including performance metrics, benchmarks, gathering statistical information. ---------------
wouldnt this make it MO “Work closely with front office and back office to ensure integrity of master agreements and credit provisions.”
sounds like you are doing your own credit analysis… which is front officey
MO from my perspective… maybe somewhere between MO and FO depedning on your definitions…
this sounds like counterparty credit work, def not front office
Thanks for your replies, but is it worth to even try for?? I have ZERO interest in credits… The only thing I like is derivatives.
For the love of god there is NO such thing as middle office. Front and back is all there is. Middle is a made up term to make back office seem not so bad.
front office = making investment calls middle office = risk management of those investment calls (authority to refuse trade) back office = admin reconciliation, settlement, etc. (little discretion) of course there is a middle office. its very powerful at goldman for instance.
Is this a position at a Prime Brokerage Desk ? Looks that way.
rohufish Wrote: ------------------------------------------------------- > front office = making investment calls > middle office = risk management of those > investment calls (authority to refuse trade) > back office = admin reconciliation, settlement, > etc. (little discretion) > > of course there is a middle office. its very > powerful at goldman for instance. Risk management is risk mangement. Middle office is back office.
quite aside to the exact terminology for this role (MO / BO), it sure sounds like alot of reconciliation and consolidation grunt work. you should seriously consider how this is gonna work to your advantage in the bigger scheme of things e.g. upward mobility, transferability of skillset…
Thanks people for your advice - I have dumped this interview call. My ultimate aim is Derivatives Trading!