Murex FO Consultant - Structured Products
Project description
The Murex FO will be required to be part of GM IT FO Squad responsible to provide IT services to Global Markets team. The squad is responsible for support, change request and projects pertaining to Global Markets. Key responsibilities of the role include providing level 1 / level 2 trading floor support to traders and control groups
Responsibilities
- Support traders, middle office users on daily issues including PL / position mismatches / market data, mkt operations, etc.
- Configure curves (rate, rate hedge, credit) and static data including securities, generators, indices, currencies, vol surface, portfolios, user groups, access rights etc., in Murex.
- Write new pre trade rules, create / amend lookup tables / simulation views / e-tradepad strategies / Live Book views.
- Work on Patch upgrades / version upgrades testing to reconcile any PL / Greeks issue & avoid any regressions.
- Reporting on progress on issues / showstoppers to manager and other stakeholders
- Assist in developing business and operational processes and to participate in developing system training artefacts when required
- Gather, analyze, and document business requirements for Structured Products and Exotic Derivatives across Interest Rate, Equity, FX, Credit, and Hybrid asset classes.
- Lead Murex payoff activation and implementation activities for complex structured products including Range Accruals, Callable Interest Rate Swaps, Bermudan Swaps, Equity Autocallables, Reverse Convertibles, Snowballs, Barrier Products, Target Redemption Notes (TARNs) and other non-linear derivatives.
- Coordinate with Front Office traders, Structuring teams, Quantitative Analysts, Market Risk, Product Control, Operations, and Finance teams to ensure accurate product configuration and lifecycle management.
- Act as the primary liaison between the bank and external vendors including Murex and Numerix for implementation, pricing model validation, payoff activation, bug fixes, and enhancement requests.
- Analyze product pricing requirements and collaborate with Quant teams to validate pricing models, market data dependencies, risk sensitivities (Greeks), calibration methodologies, and valuation adjustments.
- Coordinate implementation of new pricing models, payoff templates, model parameterization, and market data requirements within Murex.
- Manage end-to-end testing for structured products including trade booking, pricing validation, lifecycle events, risk calculations, P&L explain, limit monitoring, settlement generation, accounting impact, and regulatory reporting considerations.
- Support model and payoff validation exercises by reconciling Murex valuations against vendor systems, market benchmarks, independent quant libraries, or Numerix calculations.
- Work closely with Murex and internal development teams to troubleshoot valuation discrepancies, performance issues, simulation inconsistencies, and risk calculation anomalies.
- Prepare functional specifications, business requirement documents, test cases, and implementation documentation for new structured product initiatives.
- Participate in product approval processes and support onboarding of new products by ensuring operational readiness and front-to-back process alignment
SKILLS
Must have
- 8-15 years of total of working experience, including 5 -10 years of experience in Murex FO.
- Extensive experience in setting up and validating Interest rate curves including for ARRs.
- Expertise in multiple asset classes (at least 2 of the following) such as IR vanilla and exotic derivatives, Equity Derivatives, Commodity Derivatives, FX Derivatives, Structured Products Credit Derivatives, FIMM (Fixed Income, / Money Market).
- Expertise in terms of pricing, valuation, risk management and sensitivities including for exotic products.
- Strong exposure to FO Modules of Murex - E-Tradepad, Simulation, Livebook, RTPM, Pre-Trade Workflow, Market Data, Dynamic Tables, P&L Notepad, FDI Templates, Blotters, Risk Matrices etc.
- Experience in implementation and supporting Murex v3.1 with regards to front office capabilities
- Excellent knowledge of Capital Markets products and processes, front to back.
- Experience on implementation of both linear and non-linear products in Murex
- Strong analytical and problem-solving skills accompanied with excellent communication
- Extensive experience supporting and implementing Structured Products and Exotic Derivatives within Murex.
- Strong understanding of pricing, valuation, lifecycle events, and risk management of: - Interest Rate Range Accruals - Callable and Bermudan Swaps - CMS-based Structures - Equity Autocallables - Reverse Convertibles - Hybrid and Cross-Asset Structured Products
- Experience activating and configuring exotic payoffs within Murex and working with associated pricing models and market data requirements.
- Strong understanding of quantitative finance concepts including: - Monte Carlo Simulation - Trees and Lattice Models - Stochastic Interest Rate Models - Local/Stochastic Volatility Models - Correlation and Hybrid Model Frameworks - Sensitivity Analysis and Risk Attribution
- Proven experience working directly with Quantitative Analysts, Structuring Desks, Murex Professional Services, and third-party valuation providers such as Numerix.
- Experience validating exotic derivative pricing, Greeks, calibration parameters, volatility surfaces, correlation surfaces, and yield curve frameworks.
- Experience with model governance, model validation, product approval processes, and regulatory requirements affecting structured products.
- Demonstrated ability to manage complex implementations involving multiple stakeholders across Front Office, Risk Management, Quant teams, Operations, Finance, and external vendors.
- Strong record of stakeholder management and leadership skills
- Strong understanding of the financial markets, trading, and banking solutions
- Strong knowledge of the Global Markets products and practices, front-to-end: pricing, limit checks, booking, risk management, accounting generation, settlements, and confirmation generation
- Candidate must be technically astute and have had relevant exposure and experience with bank systems and processes.
- Strong proven track record of liaising with stakeholders for business requirements, specification documents, testing processes and other relevant information.
- Strong numerical skills coupled with the ability to deliver well under pressure and tight deadlines.
- Candidate must display strong verbal and written communication skills.
- Exposure to Murex Model Factory and Pricing Framework.
- Experience with Numerix model libraries and structured product valuation methodologies.
- Strong capability to perform valuation reconciliations between Murex, Numerix, Bloomberg, Reuters, or internal pricing engines.
Nice to have
• Knowledge of Python, SQL, or scripting languages used for pricing validation and reconciliation
