The different Business Operations departments assist and supervise the Trading and IT departments. These departments collectively develop our structure and future development and are the key to the company’s success in the highly competitive and rapidly changing environment Optiver operates in.
The Market structure department maintains Optiver's third party relationships and extends its networks in the financial industry. This department also plays a key role in setting up new activities and products on exchanges in current and emerging markets. In order to do this, Market Structure maintains close relationships with Trading, IT and other departments within Business Operations. Working at Market Structure means meeting and working with a lot of people inside and outside the company.
In order to carry out our business we need to take some risk to be successful and for our long term future, the key is knowing what risks are being taken, how much and whether they are acceptable. At Optiver this is where the Risk Department come in, They are responsible for identifying the risks, assessing their effect and advising why (or why not) they are acceptable to us. At Optiver the Risk Team is split into three parts; Credit Risk, Market Risk and Operational Risk, between them these teams cover our main risks and help to see that we are still here in the future.
In the financial and business markets a company going into liquidation has an effect which is felt worldwide and can lead to a knock on effect on others in the market which could to others failing. To make sure that we are not one of them the Credit Risk team looks at what company risks we are running, whether these are acceptable and makes sure they stay at a level we are happy with. They also help provide our Traders with financial analysis on the major companies to help with trading decisions.
During out trading each of our traders can have a small amount of risk in their position, however when you add all of this together the risk can be larger than you expect. Market Risk are the team responsible for monitoring these individual and overall risks and advise Trading and Management on the current and the potential profile resulting from movements in the market, especially those cases where extreme movements can cause a large change in the risks.
To be successful in our day to day business this takes the involvement of people, systems and tools, and with all of these there is the risk that things may not go to plan. To make sure that we increase our chance of success and reduce the chance of failure we have the Operational Risk team. They identify possible operational risks; analyze, evaluate and monitor them, and capture any incidents that occur.
Optiver's research team performs most of the quantitative research required to improve our trading performance, such as designing and optimising trading algorithms, analysing and visualising large amounts of data, and mathematical modelling of market dynamics. Consequently, some of our days are spent programming, solving tricky integrals or discussing and trying new ideas with traders. This is the place for people who loved their studies in physics, maths, engineering, econometrics or computer science and are keen to use their skills to do cutting edge work in the financial industry.
The Finance team manages all the financial and tax matters. This includes developing, maintaining and perfecting administrative processes and internal controls. The finance department ensures that financial reporting (exchange-regulatory-corporate-tax) obligations are met. They also deliver their financial knowledge to the back-office side of trading. Through unique and dynamic budgeting, forecasting and modelling techniques, the team manages Optiver's real financial position and monitors daily financial performance, thus giving Management a strategic and operational advantage.
Mid Office ensures that Optiver is in control of cash and securities positions, valuations and trading cost. Furthermore, Mid Office is responsible for the handling of corporate actions and questions from traders. Mid office keeps close contacts with the traders, the developers and application engineers from Business Intelligence, the Finance department, our clearing banks, and other third parties as brokers, all to achieve a smooth operation.
Business Project Management
The business project management department is responsible for the analysis and implementation of business changes and internal improvements that allow Optiver to grasp opportunities emerging in the ever changing trading industry.
Together with management and the business the Compliance function at Optiver encourages and fosters a culture of integrity. Compliance is mandated to help safeguarding compliant business conduct and to manage regulatory challenges.
The compliance teams advise on regulatory developments and risks with respect to Optiver's strategic objectives and ongoing business activities. As an independent control, Compliance also identifies, assesses, monitors and reports on all aspects of compliance risks and works with all areas of business and management to resolve regulatory issues. By establishing necessary policies and risk mitigating measures, the compliance function supports the management of compliance risks and to ensure compliance with internal policies and external legislation. As a further element of its mandate, Compliance maintains the relationships with Optiver’s regulators by pursuing an open and transparent dialogue.
The Legal team attends to all of Optiver's legal issues. These include advising on general law, negotiating contractual obligations, reviewing and drafting legal agreements of all types (business acquisition, shareholders, unit holders, finance, confidentiality, employment, etc), advising on business structure issues and documenting any changes, assisting in the preparation of internal policies and liaising with external lawyers when necessary.
The tax department advises and supports management to ensure compliance of the business processes with relevant internal and external legislation and therewith mitigate fiscal risks.
As our company evolves so do our needs. Therefore, in order to meet our needs in the most efficient way, we need to look for the highest value in every decision we make - balancing costs, timeliness, quality, technical suitability, legal requirements and other business considerations.
Optiver's procurement specialist works with all departments in the company to coordinate the purchasing of products and services, including contract sourcing (where appropriate). Sourcing management is a cooperative effort as well, involving the evaluation and selection of suppliers and contract negotiation.
When the Procurement Policy is completed and in effect at Optiver, employees at positions involved in the procurement process will have to refer to it for all applicable procurement rules and procedures.
The Internal Audit Department provides reasonable assurance to the Management of Optiver that all risks are managed adequately. This is done by performing audits on several topics and business processes, and from different perspectives like Trading, IT and Business Operations. Usually audits will lead to some findings or issues and it is the responsibility of Internal Audit to come up with detailed recommendations which will solve the issues and improve the efficiency of the operations. The business then needs to implement the recommendations. When issues are solved, identified risks will be managed more adequately and incidents will be prevented more likely.
Our employees and the potential they possess drive our organisation. Optiver is continuously changing and striving to be the best. This also impacts our people. HR helps to develop talent and support employees to reach their potential. Through internal and external trainings Optiver Academy provides the opportunity for employees to excel both professionally and personally.
In our daily activities we further focus on the hiring and rentention of employees as well as the benefits.
For Optiver to be successful, we need to make sure that we have the right people in the right place. Recruitment focus on selecting the best talents for Trading, IT and Business Operations. We promote Optiver by various on- and offline activities, like job postings, on-campus career events and in-house days. Once a candidate applied, we do the C.V. selection and interviews to check the motivation and culture fit.
The Communication department is responsible for both Internal and External communication at Optiver. We work closely together with other departments within the company as well as with our global counterparties, in order to make all communications in accordance to Optiver standards. With an emphasis on Culture and team spirit, we are also the Fun Department! Responsible for all social elements such as parties, weekend trips and gifts.
The ServiceDesk is the first point of contact regarding all IT and facility related incidents and request at Optiver. Every element is registered and is then followed up by directing the request/issue (if needed) to the correct department for resolution.
One of the most important tasks of the Facilities team is to ensure services provided by Optiver run smoothly. These services include access, cleaning and maintenance. Besides services, Facilities are there to provide products needed to accomplish tasks to a high standard, whether that be stationary, catering or technical support. All these duties are non-core and supporting services. Key words for Facilities include; problem solving, flexibility and thinking ahead. We are known through the whole organisation because we solve problems on the spot, we don't see problems only solutions.