Analyst, Collateral Management APAC (OSPAP17042) recruitment
About Us
RBS is a leading global investment bank with 6 global trading hubs - 4 of which are located in Asia Pacific (Tokyo, Hong Kong, Singapore and Sydney). Project Unicorn is a global programme which will enable the transfer of assets and liabilities from RBS NV to RBS plc. Unicorn is significantly complex in APAC with business spanning approximately 150 legal entities and 9 countries. APAC Unicorn Programme requires strong leadership to deliver the transfer of branch assets and subsidiaries in Indonesia and Thailand in 2012.
Description:
Collateral Management is a centralised global support function whose primary responsibility is to mitigate credit risk through the determination and calling of margin at a portfolio level. The team supports collateral arrangements for Derivatives, Repo, Stock Lending and London Clearing House transactions. All aspects of collateral management are performed by the team. These functions include: negotiating collateral agreements, marketing the collateral management function to clients and RBS businesses, data management, margin calling, dispute management, portfolio reconciliations, collateral asset management and reporting.
Team Function and Responsibilities
The Role is within the Securities and Financing Operations, Collateral Management Function, reporting to the Supervisor of the Collateral Management APAC Team
- The collateral team provides a full collateral service to all RBS clients trading in OTC Derivative products, Repo, Stock Lending, Clearing house deals and Collateral Management in-sourcing
- The role will involve working closely with the credit risk teams, senior individuals from other business areas (Front Office, Documentation, Legal, Finance, Technology) on risk mitigation and various business and project related process improvement initiatives.
Scope of Role
- Responsible for ensuring collateral pledged to clients are in line with the RBS Collateral agreements, Credit and CEM policy
- Responsible for resolving all disputes, cash/bond fails and client issues in a timely manner
- Responsible for escalating all issues within the appropriate time
- Ensuring that the team is kept abreast of any issues that may impact the them and ensure sufficient handover during leave cover periods
- Responsible for ensuring that any new processes they engage in are sufficiently documented and controlled
- Responsible for ensuring the group email inboxes are maintained
- Responsible for representing the collateral team where appropriate in team meetings
- Ensure all allocated reconciliations are performed
People Management
- Ensure involvement and engagement during team and departmental meetings
- Ensure all mandatory training is completed
- Engage in cross training across all collateral functions
Financial Management
- Where applicable ensure that the most suitable collateral is posted to reduce unnecessary funding cost.
- Team members are expected to rotate roles within the APAC Collateral Management team. Role will consist of a combination of Collateral Margin and Collateral Investigation Responsibilities. Training will be provided.
Daily Collateral Margin Responsibilities
- Issue and respond to daily Margin Call activities within the team for OTC Derivatives, Repo, Collateral Management Services and Client Clearing functions
- Ensure all breaks and disputes are escalated within the appropriate time frame to Ops management, credit and Front Office
- Ensure all settlement breaks and fails for all collateral movements are investigated and resolved promptly.
- Produce daily, weekly or monthly reporting for the Collateral Management function E.g. End of day management reporting, credit reports, call activity reports etc
- Ensure daily collateral activities are performed efficiently, accurately and with minimal risks.
- Ensure a high level of client service is maintained throughout
- Advise on operability of Collateral agreements through engaging New Business, Legal, Credit and Counterparty Exposure Management (FO)
- Ensure all client queries are responded promptly
Daily Collateral Investigation Responsibilities
- Assist Investigations team in external reconciliation with clients
- Resolve breaks and unmatched trades
- Ensure that all MTM differences are identified and recorded
- Resolve MTM differences by liaising with Front Office, Finance, Middle Office and Operations
- Work towards meeting reconciliation targets set by the Federal Reserve and Financial Service Authority
- Manage Client relationships effectively and efficiently
- Participate in reviews of Collateral Reconciliations processes, ensuring confidence in the service provided
- Build strong relationships with other areas of the bank in all global offices
- Reporting of disputes and other MI stats to senior management
- Be seen as a centre of excellence and pivotal communicator
- Support and enhance internal and external customer relationships
- Resolve all issues / conflicts in a timely and customer orientated manner
- Provide a comprehensive client service experience to all stakeholders (including counterparties) of the collateral process
- Ensure all margin demands and anticipated demands are action and all movements are settled correct
- Ensure there are no cash or bond fails/breaks outstanding for more than 5 days
- Strong personal ownership and commitment to quality. Willing to contribute and speak up with a view or opinion, and add value by questioning and probing where necessary to ensure a through and robust solution
- Form and maintain key relationships of mutual respect and trust which fosters a climate of collaboration, both internally and externally to MIB.
- Maintain a highly controlled environment and escalate unresolved breaks appropriately
Experience
Essential
- Strong understand the front to back Collateral Management process from CSAs, data setup, margin calls, settlements and collateral clearing
- Knowledge of Collateral Agreements for OTC (e.g. ISDA), Repo, Stock Lending and clearing
- Experience working within a collateral management team
- Microsoft Office, Excel, and Outlook should be intermediate/advanced
- Sound understanding of OTC derivative products
- Experience with Risk Management
- Strong awareness of Industry initiatives around Collateral Management space
- Strong understanding of the settlements process
Desirable
- In-depth knowledge on all collateral agreements
- 2 years within Collateral Management
Qualifications
Essential
- Upper Second Class Degree Level (or equivalent) Qualification
Desirable
- Degree Level (or equivalent) Qualification in a Financial discipline.
- Other Financial qualification (E.g. CFA)
Technical Competence
Essential
- Able to identify and resolve issues with minimum supervision
- Creative and reliable
- Capable of demonstrating initiative
- High level of accuracy and attention to detail
- Able to work under pressure and meet deadlines
- Flexible approach
- Team orientated
- Excellent communicator with strong interpersonal and influencing skills
- The ability to bring previous experience into the team to help solve specific problems as well as improve processes and efficiency
- Ambitious, with a strong desire to succeed
- Able to build and maintain networks internally and externally across various management levels
Desirable
- Knowledge of Algo Collateral – Algorithmic
- Knowledge of intelimatch (TLM) Cash reconciliations
- Knowledge of triOptima – triResolve
- VBA knowledge, creating/amending Macros
- SQL
We offer an excellent total compensation package, learning and development opportunities and a flexible benefit programme designed to help you manage and balance your own work-life priorities. Interested candidates please click on "Apply Online" to submit your application.