COLLATERAL MANAGEMENT AND OTC TRADE SUPPORT ANALYST recruitment
The Investment Management Services (IMS) department provide operational support to the Company’s Fund Managers, which covers all major markets and includes significant Derivative and Treasury related activity.
Within IMS, the Derivatives Services team is responsible for the oversight of all aspects of OTC Derivatives administration, including services that are outsourced to our external suppliers. The Derivatives Services team is further split into two sub-teams:
Collateral Management and OTC Trade Support.
Derivatives Control.
The Collateral Management and Trade Support team are responsible for:
All operational aspects of Collateral Management including the oversight of our third party service provider.All operational aspects of Stock Lending.
The capture of OTC Trade data into the overall OTC derivatives administration process and a number of associated support tasks and reconciliation.
Working closely with the Derivatives Control team to ensure all Derivatives Services wider team objectives are achieved.
The Company are looking to strengthen their team and control environment with the addition of a Collateral Management and OTC Trade Support Analyst. The role holder will report to the Collateral Management and OTC Trade Support Team Leader.
This is a technically demanding role which will provide the successful candidate with good overall knowledge in respect of the OTC derivatives lifecycle, processing and collateral as well as offer the ability to expand their overall investment operations knowledge. The OTC Derivative market is changing to become more streamlined with market standards being introduced by the Regulatory Bodies. The team will be required to track, review and amend any processes/procedures impacted by such changes.
Core Responsibilities:
- Day to day Collateral Management activity:
- Daily verification of cash and stock collateral moves proposed by the Company’s outsourced Collateral Management provider.
- Investigation and liaison with Company counterparties to resolve collateral disputes.
- Preparation of daily securities collateral moves and substitutions.
- Monitoring of trading and income events to determine where collateral substitutions are required.
- Investigation and resolution of cash reconciliation breaks.
- Completion of monthly collateral interest reconciliation and instruction of interest payments.
- Set up of new accounts and collateral agreements with outsourced provider including sourcing of ISDA/CSA documentation.
- Development and maintenance of Collateral Management procedures.
- Completion and delivery of monthly credit exposure and collateral reporting.
- Ensure the service carried out by the outsource provider is in line with the Service Level Agreement.
- Working with colleagues to identify areas to improve the Collateral Management process, with particular focus on efficiency gain to accommodate future growth in OTC derivatives transactions.
- Ensure adherence to Regulatory and Compliance Rules.
- Stock Lending:
- Investigation resolution of stock lending warnings breaches highlighted by Investment Restriction Control.
- Completion and delivery of monthly stock lending reporting.
- Development and maintenance of Stock Lending procedures.
- Organise and communicate formal programme changes.
- Ensure the service carried out by the outsource provider is in line with the Service Level Agreement.
- Trade Capture:
- Retrieve deal tickets from OTC Database, CRIMS, and Millenium.
- Communicate with front office traders to retrieve critical trade capture data not included on deal tickets.
- Capture trade data in a timely and accurate manner within Kondor+.
- Investigate queries generated from OTC trade confirmation and settlement process.
- Pre trade static data administration.
- Development and maintenance of Trade Capture procedures.
- Reconciliation:
- Review reconciliation breaks identified between internal and external systems.
- Investigate and resolve reconciliation breaks identified between internal and external systems.
- Development and maintenance of OTC Trade Reconciliation procedures.
- Projects:
- Provide subject matter expertise to internal/external projects that impact/involve the team.
- Take responsibility for managing deliverables from such projects.
Core Skills:
- Attention to detail.
- Good organisational skills.
- Highly numerate.
- Process orientated.
- Investigatory skills.
- Intellectual curiosity.
- Good communication and relationship building skills are required for managing relationships with front office, outsourced providers, counterparties, regulators, trustees and a number of other internal departments.
- Tenacity.
- Analytical Thinking.
- Works effectively as part of a team and helps to support the wider team in the achievement of common initiatives and goals where required.
Core Requirements:
- Higher level qualification - degree preferred but not essential.
- Experience in an investment operations environment.
- Experience in working in a deadline-driven environment.
- Collateral Management experience is desirable but not essential – stock lending or exchange traded derivatives margining experience is also relevant.
- Experience of OTC derivatives trade lifecycle is desirable but not essential.
- Experience of OTC derivative documentation – ISDAs, Master Confirmation Agreements and OTC trade confirmations is desirable but not essential.
- Experience of Kondor+ system is desirable but not essential.
- Experience in or good understanding of cash or stock settlements.
- Understanding of Front Office trading systems – beneficial but, not essential.
- Understanding of Investment Accounting and Reconciliations systems – beneficial, but not essential.
- Good MS Excel skills.
Core-Asset Consulting offer specialist recruitment services to the Investment Banking, Financial Services, Secretarial Support, and Human Resources markets across Scotland.
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