Head of Middle Office

Company Overview:

B2C2 is a pioneering digital asset company shaping the future ecosystem. With a focus on unlocking institutional access to cryptocurrency liquidity, B2C2 utilizes cutting-edge technology and ongoing innovation to cater to diverse institutions worldwide. Established in 2015 and acquired by SBI, a Japanese financial group, in 2020, B2C2 retains independence as a company. Headquartered in the UK, it also has offices in the US and Japan, and operates under the regulation of the UK’s Financial Conduct Authority (FRN 810834).

Team Overview:

Playing a vital role in the seamless functioning of the trading operations, the Middle Office team at B2C2 collaborates with the Trading and Risk teams to uphold accuracy, control, and efficiency in operational functions. The Head of Middle Office is entrusted with leading the team, spearheading initiatives to improve operational efficiency, enhance risk control measures, and foster stakeholder engagement.

Role Scope:

As the Head of Middle Office, your primary responsibilities include overseeing all operational activities at B2C2 to ensure prompt and precise trade processing, issue resolution, and implementation of best operational practices. Collaborating closely with both front and back office teams, you will drive enhancements to support crypto trading, OTC desk, and market-making activities, crucial for maintaining operational integrity, seamless trade flows, resolving reconciliation issues, and regulatory compliance.

Key Performance Indicators (KPIs):

Success in this role will be measured by metrics such as timely trade settlements, reduction of operational errors, team performance, and continuous improvement in risk management processes.

Key Responsibilities:

• Addressing reconciliation breaks that may arise between exchanges and trading/account systems, settlements banks, and other relevant systems.
• Establishing, leading, and managing the operations team to ensure efficient trade lifecycle management, effective reconciliation, and accurate reporting.
• Overseeing daily trade support functions to ensure timely capture, confirmation, settlement, and reconciliation of trades.
• Working closely with the Front Office to facilitate smooth communication and transaction handling, promptly resolving discrepancies or trade-related issues.
• Managing risk processes, including limit monitoring, margin requirements, and exposure analysis to ensure compliance with internal risk policies and external regulations.
• Developing and implementing operational procedures to enhance efficiency, reduce errors, and ensure compliance with regulatory requirements.
• Collaborating with operations teams to ensure accurate trade booking, settlement, and data management.
• Providing leadership and guidance on regulatory and operational best practices within the operations realm.
• Identifying and implementing improvements to operational infrastructure, tools, and processes to enable scalability in a growing crypto market.
• Building relationships across departments with Technology, Compliance, and Legal teams to align on operational needs and risk management.
• Ensuring the capture and reconciliation of trading costs, such as trading and broker fees.

Required Skills:

• Demonstrated experience in Middle Office, Trading Operations, or Risk Management within a financial institution, particularly in crypto or OTC trading sectors.
• Comprehensive knowledge of trading lifecycle, operational processes, and risk management principles.
• Familiarity with various product types such as OTC Spot, OTC CFDs, Options, and Funding, along with their settlement processes.
• Expertise in trade settlement, reconciliation, and reporting.
• Proficient in risk management tools and strategies.
• Strong grasp of regulatory reporting obligations and compliance standards.
• Exceptional problem-solving abilities, attention to detail, and project management skills.
• Ability to thrive in a fast-paced, high-pressure work environment.
• Excellent communication, collaboration, and team management skills.

Preferred Skills:

• Understanding of crypto regulations, blockchain-based trading systems, and smart contracts.
• Experience with crypto trading platforms, OTC markets, and De-Fi.
• Familiarity with data analysis tools like SQL, Python, or similar.
• Knowledge of risk modeling and exposure management in liquidity provision scenarios.
• Experience working with third-party vendors and managing relationships.
• Familiarity with regulatory frameworks in crypto and traditional financial markets.