Assistant Vice President, Collateral Management - Id 49

Assistant Vice President, Collateral Management – ID 49

MAIN PURPOSE OF THE ROLE 

We have an exciting opportunity for an experienced AVP to work within our Collateral Management department. The candidate will be responsible for processing the Margin Exposure across all asset classes (OTC, Repo and SBL) by calling counterparts where the bank is exposed and meeting counterparts calls on the bank in line with valuations. This role will initially be specific cover for Repo and cleared margin with the opportunity to gain exposure in the OTC and Securities Lending margin space as well.

• Ensure all margin bookings are correctly reflected in the core systems for agreed settlement.
• Timely resolution of cash and non-cash fails.
• Ensure the Cheapest to Deliver collateral is used in conjunction with Front Office requirements.
• Collateral Dispute and reconciliation management.
• Regulatory Reporting, Controls Reporting, Relationship Management with internal and external stakeholders including Vendors.
• Carry out all duties in line with the Department’s procedures and ensure these are updated accordingly to reflect current processes in conjunction with your Line Manager.

KEY RESPONSIBILITIES

• Strong skill-set to support agreement and processing of margin of all daily Variation/Initial OTC Margin calls in accordance to the CSA agreements.
• Regular communication with the treasury desk to ensure that collateral posted is in line with their cheapest to deliver policies.
• Booking of collateral and understanding the cost associated with the optimization of any outflow, based on eligibility criteria.
• Monthly settlement of interest on cash variation margin posted and received.
• Ensure that all margin bookings are accurate and settle as agreed within currency/settlement cut-offs.
• Dispute/exposure reporting to senior Management, risk and the business and the ability to explain issues to all levels.
• High level of client service around incoming query management.
• To ensure that desk procedures are kept up to date and that improvements are made when necessary in an effort to improve efficiency and reduce manual touch points.
• To liaise with Traders, Legal, other support areas and counterparties, and strive to ensure maximum internal and external client satisfaction.
• Maintain a robust control environment by way of regular review of controls, raising Self-Identified Issues where required, and driving issues to closure.
• Actively manage and build relationships with the Front Office and other key business partners across the firm.
• Define the prioritisation of the team BAU activity and book of work ensuring the sustainability and robustness of the operational control framework and define solutions commercially beneficial for the organisation.
• Ensure the completion of BAU activity and complete the book of work assigned ensuring the sustainability and robustness of the operational / control framework and implement solutions that are commercially beneficial for the organization.
• Promote an inclusive, positive culture and way of working across teams and provide regular feedback and formal performance reviews to team members

WORK EXPERIENCE

             Essential:

• A solid understanding of the legal documentation and key terms within the ISDA CSA, GMRA, GMSLA agreement
• Understanding the life-cycle of trade processing/handling across derivative swap products including trade capture/allocation, confirmations, trade exception clearance and connectivity issue resolution with tech teams
• A sound understanding of the current regulatory framework i.e. Uncleared Margin Rules
• Working knowledge of REPO and OTC Derivatives products, being able to understand and unravel complex trading that can impact the margin call process
• Strong understanding of the inputs that makeup derivative trade level valuations and being confident to compare and challenge our counterparties PVs
• Previous knowledge and experience of using the TriResolve reconciliation manager tool and Acadiasoft.
• Understanding of key collateral optimisation initiatives such as cheapest to deliver
• Experience using large data sets and using data visualisation tools

Preferred:

• Exposure to mark reviews to validate trader marks to external pricing sources
• Strong knowledge of the cleared margin process i.e. supporting the margining process at the various clearing houses; LCH, Eurex, ICE, CME etc.
• Experience of working with LCH Repoclear and Eurex Repo
• Solid understanding of Repo and SBL (Securities, Borrowing & Lending) including the front to back REPO and SBL trade booking workflows
• Experience of using TLM/Sentry/Algo, SunGard Apex, SWIFT, Intellimatch, TriOptima, Acadiasoft

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

Essential

• Strong Microsoft skills i.e. Word and Excel
• Strong communication skills, written, oral and listening
• Strong stakeholder management techniques
• Excellent understanding of Operational Risk and Control.
• Strong understanding of the trade lifecycle management of various products and associated risks
• Good working knowledge of the regulatory environment and upcoming changes
• Understand the cash flows and dynamics of a banking business such as funding requirements and their importance
• Understand the key elements of the front to back process flow including other infrastructure groups i.e. Market Risk, Credit Risk, Finance, Product Control, Legal, Compliance, etc.

Education / Qualifications:

• Degree qualified or equivalent

PERSONAL REQUIREMENTS