Middle Office Analyst

📋 Description

• • Verto Inc. is at the forefront of revolutionizing global finance, with a powerful mission to democratize financial services and empower businesses in emerging markets to seamlessly connect with the global economy. Our journey began with a deep understanding of the significant hurdles businesses face in cross-border payments, including volatile currency markets, prohibitive fees, and sluggish transaction speeds. This insight, born from our African roots, fuels our commitment to bridging the divide between emerging and developed markets, fostering robust global economic growth.
• • What started as a specialized FX solution for the Nigerian Naira has blossomed into a leading-edge platform, facilitating billions of dollars in annual transfers for thousands of businesses worldwide. We firmly believe that geographical location should not impede a business's ability to scale or succeed. Our objective is to provide equitable access to the fluid payment and liquidity solutions that are standard in more developed economies.
• • We are thrilled to be seeking a highly motivated and skilled Middle Office Analyst to become an integral part of our dynamic and expanding team. Reporting directly to the Middle Office Manager, you will play a pivotal role within the Middle Office function. Your responsibilities will encompass the daily stewardship of Verto’s treasury operations and payment liquidity, the meticulous management of FX trade risks, and providing essential support to our Trading Desk.
• • In this critical role, you will be responsible for the day-to-day management of our payment liquidity and treasury operations, ensuring that all daily settlement requirements are met with precision and efficiency. This involves guaranteeing the swift settlement of client transactions while rigorously adhering to our obligations for customer fund safeguarding and maintaining our partner credit line commitments.
• • You will meticulously oversee the recording of all treasury transactions within our internal systems, ensuring data integrity and accuracy. A key aspect of your role will involve sourcing, validating, and disseminating the daily data essential for managing treasury funds and credit facilities. This requires a keen eye for detail and a proactive approach to data management.
• • A significant part of your responsibility will be the comprehensive reconciliation of treasury funds. You will be tasked with tracking all funds meticulously, ensuring that our positions are accurately maintained in accordance with the terms of our credit facilities and internal thresholds. This vigilance is crucial for maintaining financial stability and compliance.
• • Furthermore, you will be responsible for the reconciliation and vigilant monitoring of our daily Over-The-Counter (OTC) trading currency and trade positions. This involves ensuring that all trades are accurately recorded and that our exposure is within acceptable limits.
• • You will manage the settlement of customer FX trades, proactively following up on any late-settled trades and taking necessary actions to close positions where required. Ensuring the timely disbursement of funds owed to customers for OTC transactions is paramount to maintaining client satisfaction and trust.
• • Your role will also involve the management of spot FX bookings and associated controls. This includes booking cover positions to mitigate risk and diligently monitoring for any Profit & Loss (P&L) variances or uncovered positions that may arise. This proactive risk management is vital for protecting the company’s financial health.
• • You will provide crucial post-trade support for both OTC customers and internal stakeholders. Your primary internal collaborators will include the Trading Desk and Operations teams, with whom you will work closely on daily liquidity and trade management. You will also liaise with the Finance department, providing essential information and control insights for revenue reporting.
• • Managing client credit positions will be another key area of focus, particularly in handling daily advance settlement credit line requests. You will be instrumental in providing management information and detailed analysis for any OTC customer credit line requests, as well as continuously monitoring our open credit exposure.
• • You will be tasked with tracking daily currency exposure and positions, ensuring they are monitored against established limits and our internal liquidity line usage. This oversight is critical for risk mitigation and strategic financial planning.
• • Finally, you will play a key role in implementing process and system improvements. Your efforts will be directed towards enhancing operational efficiency, delivering superior customer experience improvements, and effectively reducing overall risk across the Middle Office function. Your innovative thinking and problem-solving skills will be highly valued in driving these enhancements.