TRS Operations SME (Calypso)

Job description

# TRS Operations SME (Calypso) > G MASS · London, United Kingdom (Hybrid) · Contract · Posted 2026-06-19 **Workplace:** hybrid ## Description G MASS Consulting is working with a leading global financial services organisation to identify an experienced Total Return Swaps (TRS) Operations SME to support the establishment and ongoing operation of a new in-house TRS capability. Our client is standing up new capability, and working with an external managed model. They are looking for a hands-on TRS specialist who can help define the operating model, establish robust processes, and play a key role in running the function once live. This is not a purely project-based role. The successful candidate will be responsible for helping build the foundations of the TRS operating model, whilst also supporting the day-to-day BAU operations and acting as a key SME within the function. **The Role** As the TRS Operations SME, you will support the transition of TRS activity into an internal operating model, combining process design, operational expertise, and hands-on delivery. You will work across operations, technology, and business stakeholders to ensure TRS processes are designed effectively, implemented successfully, and supported operationally. **Key responsibilities will include:** - Helping establish and operationalise an in-house TRS operations function - Defining the target operating model, workflows, controls, and governance required to support TRS activity - Providing SME expertise across the full TRS lifecycle, including trade capture, settlements, lifecycle events, reconciliations, cash flows, collateral, and exception management - Translating business requirements into practical operational processes within the Calypso environment - Working with technology teams and implementation partners to ensure the platform supports operational needs - Creating and maintaining operating procedures, process documentation, and control frameworks - Supporting the transition away from the current outsourced model - Taking ownership of BAU TRS operations once established, ensuring processes run effectively and issues are managed appropriately - Acting as the point of expertise for operational queries, process improvements, and ongoing enhancements ## Requirements - Strong experience within Total Return Swaps / Equity Derivatives Operations - Proven experience managing or supporting BAU TRS operations - Hands-on experience working with Calypso - Strong understanding of front-to-back derivatives processes - Experience defining, improving, or implementing operational processes - Ability to work across business and technology teams - A practical, delivery-focused mindset with the ability to move between process design and execution **Desirable Experience** - Experience bringing outsourced operations in-house - Experience working within brokerage, banking, or capital markets environments - Previous involvement in operational transformation or platform implementation activity ## Benefits Initial 6-month contract, with view for further extension. Salary to be discussed. ## Apply [Apply at G MASS](https://apply.workable.com/g-mass/j/8CF8D54AC8/apply) --- Powered by [Workable](https://www.workable.com)