Manager

Description:

You are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

Job Description:

The Manager, Derivative Collateral would be required to have a solid understanding of financial instruments, have considerable familiarity with derivatives terminology and possess strong analytical ability. Collateral management is a major function within the team and the Manager would work to master the collateral management process and independently be able to manage it and oversee the work of the Collateral Analyst.

The Manager would be reviewing and approving collateral trades processed by the analyst and ensuring their suitability based on exposures, CSA eligibility criteria, and the pool of eligible collateral. When needed, the Manager acts as an escalation contact in interacting and negotiating with derivative counterparties and custodians as part of the collateral management process.

The position requires meticulous global communication and documentation of action taken in the collateral management and related processes.

What Will You Do?

• Oversee and engage on escalated matters in the collateral management process with counterparties
• Independently validate the reasonability of derivative instrument valuation (equity, fixed income, FX) for collateral negotiation with counterparties
• Engage in collateral trade operations including trade verification within systems and trade instruction authorization with custodians.
• Review, reconcile, and validate market data sources and outputs with counterparties.
• Engage Middle/Front Office on escalated collateral disputes and aging failed collateral receipts
• Conduct counterparty risk analysis on a wide range of derivatives.
• Complete collateral-related accounting entries and reconciliation to the general ledger
• Monitor counterparty credit ratings and maintain ISDA/CSA agreements on collateral management system
• Lead change to understand, determine impact to operations, and prepare for new regulatory changes
• Seek opportunities to employ optimization of collateral across agreements
• Manage process surrounding invoicing and settling of interest on cash collateral balances as well as coupons on securities collateral
• Prepare periodic reporting submissions to support financial, regulatory, and managerial reporting as well as field ad hoc reporting requests and inquiries

What Do You Need To Succeed?

• Working exposure to financial systems: BlackRock Aladdin DECO, Misys Summit or equivalent derivatives system, Bloomberg (using valuation models)
• Experience with general ledger applications and highly proficient in Microsoft Excel
• Ability to work independently and escalate matters when appropriate
• Excellent verbal & written communication skills, proven judgment around escalated communications
• Previous experience in derivatives collateral management, or derivatives operations with counterparty & custodian interfaces
• Enrollment in or completion of CFA or FRM program a plus and educational background in Finance/Mathematics