Analyst, Rates

1 week ago

Toronto, Canada Royal Bank of Canada Full time

**Come Work with Us**

At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

**Job Title**

Analyst, Rates

**What is the opportunity?**

You will be responsible to accurately input rates daily into Infinity and Murex for rate fixing and settlement purposes, and to confirm rates related to Derivatives transactions supported by FIDO - Interest Rate Swaps, Options and FRA trades, and Structured deals. Develop and maintain a good understanding of 2006 ISDA Definitions, terms and definitions, as they relate to transactions supported by FIDO.

**PRIMARY RESPONSIBILITIES**:
Rate Fixing
- Have sound and good knowledge and understanding of all rate indices, their conventions, their published times and rate sources which are used by FID. This ensures efficient and accurate resolution to discrepancies with counterparties.
- Reasonably ensure all required rate pages for rate calc input are all updated on respective Reuters’ Market data sheets, taking into account their published time to minimize error in obtaining rates too early.
- Ensure that items in the Toronto Workflow "Rate Reset Repair" basket are reviewed and sent to the "Supervisor Rate Reset Review" basket daily for Associate Director, Payment & Rate Setting’s verification.
- Review the Non-Fixed Floating Rates report, Structured Non-Fixed Floating Rates report and MRR report on daily basis (for 5 days ahead and current value date) to ensure manual resets are properly handled and referred to Analyst and/or the Associate Director, for verification prior to Infinity system input. Escalate items outstanding more than two days to the Associate Director, Payment & Rate Setting.
- Review Daily Trades report to ensure that rate reset advices are generated for late new deals which have the same day or previous past dated rate fixing. Note: check for any trades with first stub interpolation and 1 day index, do not do special RR as it will corrupt the interpolated calculations.
- Review “Advices Not in Workflow report” daily to ensure all rate-reset advices are generated successfully to Workflow system.
- Ensure accuracy of rate reset advice dispatches to Counterparty and distribute those to internal staff appropriately for settlements and to P&L group as required.
- Assist external counterparties or internal Operations Personnel with rate investigations and/or discrepancies where applicable. Address inquiries in timely fashion and escalate items outstanding more than two days to the Associate Director, Payment & Rate Reset. Also ensure that manual rate reset confirmations are sent after Infinity Toronto system (i.e. Cash flow run) has been updated.
- Liaise with Marketers, Traders, Documentation Officers' and Analysts to ensure that proper trade details are maintained for rate reset purpose as agreed with clients.
- Ensure incoming rate reset enquiry are reviewed on date of receipt, investigating discrepancies found immediately, to resolve all on a timely basis. Escalate to Associate Director, Trade Processing, any unresolved rate reset issues within a reasonable time frame. More proactive approach to investigations on Rate Discrepancy and ensure proper follow-up or advise Nostro for follow up
- Relay (if any) amended payment instructions to Payment Officer for update to Infinity and Murex for new confirmation and payment purposes.
- Protect the Bank's interest and reduce risk of loss by ensuring timely and complete identification of any discrepancies and missing trades.
- Review Upcoming Payments by BO Flags report 15 days and 5 days in advance to scan and prepare for Emerging Market trades and its associated hedged trades where applicable (Non-deliverable BRL trades) which require notification to appropriate FO, Confirmations, and Trade verification personnel at least 1-2 days prior to FX rate fixing date for NDS and NDF; obtaining rate page for fixing (ie PTAX for BRL); confirming PTAX rate and calculations on the NDS and NDF with FO; copying Trade Processing Verification Officers to input FX Arbitrage tickets if applicable; advising Toronto Settlement group that the NDS /NDF is fixed for settlement.

**Training and Support**
- Providing direct support and guidance to the junior reset analyst and provide assistance to Associate Director as required
- Ensure compliance with mandated Unit Financial Controls /SOX Controls and RBC “Standing Orders” Policy requirements.
- Update the EUC Change Log for any changes made to the identified EUC spreadsheets (if applicable) in accordance to the EUC Policy guidelines.
- Develop solid understanding of derivative products (

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