Head of FX & Interest Rate Derivatives Operations (VN2748)
London, GB Full-Time Operations
- The Head of FX & Interest Rate Derivatives Operations is a senior role within Marex, responsible for ensuring the smooth, accurate, and compliant processing of FX, crypto and interest rate transactions. This role combines operational leadership, risk management, and cross-functional collaboration.
- Manage the day-to-day operations, automation, governance and on-going initiatives of the Capital Markets FX, Interest rate, crypto products & Structured FX/Rates Operations Team.
- Actively contribute to the setting of objectives, budget, resource allocation and the making of key decisions for the Operations department.
Responsibilities
- Oversee daily operations of FX, Crypto and Interest rate transaction processing (spot, forward, swaps, NDFs, IRS, FRAs, etc.)
- Recruit and retain talents; manage managers globally; set strategies and visions for a global team; educate and motivate the team; ensure business continuity
- Work with technology to automate and streamline operational processes in order to allow scalability and efficiency, even for highly complex structured OTC derivatives businesses across the firm.
- Drives key decisions around processes and systems, engage vendor negotiations and deliver innovative strategic solutions.
- Escalate issues to the Head of OTC Operations promptly; lead resolution of issues with effectiveness and strong sense of ownership.
- Act as the escalation point person for all issues arising from the relevant desks
- Act as key stakeholder for the review of relevant new business initiatives (BCACs) from Operations perspective.
- Handle operational incidents effectively, address control gaps, mitigate operational risks.
- Oversight of all daily operational BAU processes, manage internal and external audit queries, responsible for implementing any remediation required.
- Own any actions required for the SOX compliance program, ensuring adherence to all relevant internal control requirements as per the Sarbanes‑Oxley Act (Section 404) for financial reporting and internal controls.
- Working closely with in‑house application support, FSS, Calypso, XTP & Sernova and provide sufficient support to end users, both internal and external. To also ensure optimal system configuration to reduce operational risk and create a fully automated STP solution.
- Responsible for identifying opportunities and implementing strategies for consolidation of systems and operational resources, streamlining processes across the Operations department or at the firm level where efficiency can be gained.
- Implement controls to prevent operational errors, fraud, and compliance breaches.
- Ensure adherence to regulatory requirements (e.g. EMIR, MiFID II, Dodd‑Frank, etc.)
- To work closely with the Finance and Treasury departments, to ensure a smooth workflow of payments and ongoing system integration into GL.
- Maintain up‑to‑date documentation and procedural manuals.
- Support for any business acquisitions with the responsibility of facilitating system & people (Teams) integration into Marex environment.
- Ensuring compliance with the company’s regulatory requirements under the FCA.
- Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
- Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values.
- At all times complying with the FCA’s Code of Conduct as well as the Marex Code of Conduct (non uk)
- To ensure that you are fully aware of and adhere to internal policies that relate to you, your role or any other activities for which you have any level of responsibility
- To report any breaches of policy to Compliance and/ or your supervisor as required
- To elevate risk events immediately
- To provide input to risk management processes, as require
Competencies, Skills and Experience
- Excellent verbal and written communication skills
- A collaborative team player, approachable, self‑efficient and influences a positive work environment
- Resilient in a challenging, fast‑paced environment
- Ability to take a high level of responsibility in a fast pace and high‑volume environment
- Excels at building relationships, networking and influencing others
- Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness
Skills and Experience
- 10+ years in financial services, with at least 5 years in a leadership or senior operations role focused on FX and interest rate products
- Direct experience managing:
- Global or regional operations teams
- Complex operational processes involving derivatives and structured products
- Track record of successful process improvement or automation initiatives
- Experience in onboarding new markets, products, or systems
Product & Market Expertise
Deep knowledge of FX and interest rate products:
FX: Spot, Forward, Swaps, NDFs, Options, TARFs
IR: Swaps, FRAs, Caps/Floors
Strong understanding of trade life cycle and post‑trade processes
Awareness of global market practices and cut‑off times
Operational Excellence
- Proficiency in transaction processing, confirmation, settlement, and reconciliation
- Experience with clearing and settlement platforms (e.g. CLS, SWIFT)
- Expertise in managing large operational teams and high‑volume workflows
- Strong grasp of operational, settlement, and credit risk in FX & IR operations
- Knowledge of internal controls, escalation procedures, and exception handling
- Hands‑on experience with trade capture and risk systems such as:
- FSS, XTP, Calypso, MarkitWire, Bloomberg, Reuters
- Proficiency in operations and workflow tools
- Understanding of Straight‑Through Processing (STP), automation, and digital transformation
Leadership & Strategic Thinking
- Proven experience leading diverse teams (local and global)
- Ability to drive strategic initiatives and large‑scale change
- Skilled in performance management, coaching, and team development
Stakeholder & Communication Skills
- Strong communication skills to interact with:
- Ability to manage conflicts and navigate high‑pressure situations
Conduct Rules
You must:
- Act with integrity
- Act with due skill, care and diligence
- Understand and commit to complying with all applicable Federal and ADGM related AML/TF/Sanctions laws, at all time
- Be open and cooperative with law enforcement and / or regulatory authorities on any investigations
- Pay due regard to the interests of customers/counterparties and treat them fairly
- Observe proper standard of market conduct
Company Values
Acting as a role model for the values of the Company:
Respect – Clients are at the heart of our business, with superior execution and superb client service the foundation of the firm. We respect our clients and always treat them fairly.
Integrity
– Doing business the right way is the only way. We hold ourselves to a high ethical standard in everything we do – our clients expect this and we demand it of ourselves.
Collaborative
– We work in teams – open and direct communication and the willingness to work hard and collaboratively are the basis for effective teamwork. Working well with others is necessary for us to succeed at what we do.
Developing our People
– Our people are the basis of our competitive advantage. We look to "grow our own" and make Marex the place ambitious, hardworking, talented people choose to build their careers.
Adaptable and Nimble
– Our size and flexibility is an advantage. We are big enough to support our client’s various needs, and adaptable and nimble enough to respond quickly to changing conditions or requirements. A non‑bureaucratic, but well controlled environment fosters initiative as well as employee satisfaction.
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