GUEST COMMENT: There is a surfeit of roles in OTC client clearing

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Tired job seeker

Possible side effect of working long hours for a boutique investment bank

It is not often the case in this market that demand for candidates exceeds supply, but this remains the situation for OTC clearing roles.

Candidates with experience in this area are highly sought after and hard to come by. Driven by regulatory changes and pressure to centralize clearing, client clearing is a growing and high profile space within the operations arena.

The roles are often high profile and can be a good way of building your profile internally as they require interaction with a range of stakeholders across operations, legal, compliance and risk. There can also the opportunity to build networks externally, through liaison with bodies such as the FSA, and interact with the front office. In addition, you will also be required to participate in industry forums as part of a collective group investigating how to reduce risk within the banking industry.

So how can you land yourself an OTC Client Clearing role? OTC client clearing is a new area of the business, so employers are looking for people with derivatives operational knowledge that they can leverage appropriately. Candidates typically need to have proven stakeholder management skills within a banking operations/middle office environment and to show they have the ability to overcome obstacles whilst working in a project capacity alongside their business as usual role. Therefore if you are already in an operations role, getting involved in OTC Derivatives tactical projects or industry forums will be very beneficial.

Due to the high demand for candidates with this skill set, pay is competitive. If you work in the projects space, you will typically receive up to £70k at the AVP level and up to £120k at the VP level.