Derivative Operations - Collateral Management - Associate

Canary Wharf

Purpose of the Job

· Plays a key role to ensure BAU and other daily team tasks are completed accurately, on time and to the expected standards in accordance with operational procedures. Escalates issues and challenges, reports routinely and updates management promptly.

· Proactively reviews and maintains desktop procedures relating to day to day processes. Makes regular suggestions to improve and enhance operational process flows.

· Promotes a customer centric culture by providing a value add service and by fostering internal and external relationships. Makes suggestions based on analysis and evidence and explores ways to improve efficiency within the remit of their role

Background

· Daily processing and administration of EMIR risk mitigation and collateral margin requirements and associated tasks in accordance with desktop procedures:

· Processing of CSA and GMRA margin calls in conjunction with executed CSA and GMRA documentation.

· Processing of CSA and GMRA monthly interest calculations in conjunction with executed CSA and GMRA documentation.

· Control of portfolio MTM’s, contact with counterparts to agree calls, and dissemination of information to Treasury Department.

· Ensure receipt / delivery of collateral in good order, escalating issues to Assistant Manager as necessary.

· Administration of portfolio reconciliations, including the investigation, escalation and resolution of disputes.

· On board mandatory regulatory requirements as part of EMIR relating to CCP requirements, Collateralisation, Portfolio Reconciliation and Dispute Resolution

· Communicate with Treasury Department to ensure funding is in place for all margin calls.

· Ensure physical payments to / from counterparts are effected in good time with escalation of any issues to the relationship manager and relevant stakeholders. Ensure reconciliation breaks on Nostros are proactively followed up and resolved.

· Escalation of disputes greater than $5Million to Management in accordance with bank policy

· Engage with support teams to ensure that all downstream information and appropriate systems are available and online, escalating any issues to Assistant Manager in a timely manner.

· Monitor group email inboxes and query management ensuring all emails are managed in a timely manner.

· Assist with the creation of test plans and test scripts, and perform UAT testing working closely with line manager to ensure the accurate and timely completion of UAT. Ensure that issues and challenges are escalated to management in the form of regular updates.

· Collaborates with and supports the team to meet customer needs, team objectives and ad hoc tasks within defined timeframes.

· Takes the necessary steps to understand the context of the role and how the role contributes to the wider team objective

Responsibilities

· Accountable for the timely and accurate completion of margin calls, portfolio reconciliations and associated tasks, ensuring that all regulatory and contractual obligations are fulfilled.

· Facilitate relationships with counterparts and internal stakeholders to promote quality of service, ensuring the timely escalation and resolution of issues and queries.

· Assist with the maintenance and review of desktop procedures relating to day to day processes and administer updates via the policy and procedures database on a periodic basis in order to comply with bank policy.

· Proactively puts forward ideas to improve the efficiency and effectiveness of tasks for which they are accountable

· Assist with UAT as part of new system upgrades and development. Escalate any issues identified and follow through to remediation.

· Ensure bank policy and best practices are rigorously followed and adopted as part of the overall framework.

· Ensure full compliance of applicable EMIR and MiFIR regulatory obligations.

· Proactively follows compliance procedures and completes tasks accurately. Attends compliance training and integrates learning and requirements into the day to day delivery of tasks, demonstrating an understanding of applicable risks and controls.

Knowledge, Skills and Experience

· Previous experience in a related role.

· Knowledge of ISDA documentation and CSA Agreements.

· Knowledge of Global Master Repurchase Agreements (GMRA).

· Knowledge of EMIR and pertinent regulation applicable to role.

· Good working knowledge of Excel, capable of manipulating financial data.

· Good communication skills, with the ability to deal effectively at many levels.

· Self motivated, energetic, flexible and collaborative.

· Experience of ‘User Acceptance Testing’ (UAT).

· Education & Qualifications:

· A Level