COLLATERAL MGMT SPECIALIST/ANALYST
Job Summary:
Reporting to the Manager of GCM Middle Office, the Collateral/Reconciliation Analyst will be responsible for overseeing the daily Collateral process for all products supported by Global Middle Office, including Interest Rate, Market-Linked CD, Commodity, and Credit products. This position will support the booking and settlement of collateral for OTC Cleared and OTC Bilateral Derivatives following ISDA guidelines.
The ideal candidate will:
- Have collateral reconciliation experience, and excellent MS Office skills particularly advanced in Excel. In addition to running the collateral process, the candidate will also handle daily trade reconciliation duties, specifically in the Tri-Optima trade recon system. There may also be involvement in a range of support activities or backup duties surrounding these products.
- Be well versed in the Front to Back Processing environment within an Investment Bank, with expertise in the al least one asset class of derivative products. Functional coverage will include the calculation of collateral amounts; interacting with the our swap dealer counterparties; interaction with our internal back-office and technology teams; deal checking and matching on Tri-Optima; break resolution; and ad-hoc trade-valuation queries. There will be an expectation to contribute to process improvement through streamlining processes automation whenever feasible.
- Be expected to be flexible in providing assistance and backup for Interest Rate, Structured Product, Total-Return Swap, Commodity, and Equity products. This may include trade validation; occasional preparation of trade confirmations or secondary review of confirmations for the previously listed products; preparation of accounting reports, and attending meetings which require input on behalf of the Middle Office. In addition, the ideal candidate would have the poise and confidence to speak to upper management on topics of interest in the area, such as Dodd-Frank reconciliation requirements, and other Dodd-Frank regulations and their impact on collateral processing.
It will be crucial to develop strong working relationships with counterparties, traders, back office, technology, accounting, and support functions.
Management or Supervision: 0% - However, management possibilities could exist in the future.
Major Responsibilities:
- Support the booking and settlement of collateral for OTC Cleared and OTC Bilateral Derivatives (20%).
- Maintain Customer account data, and Master Collateral Spreadsheet (20%).
- Maintain contact with Counterparties and the BackOffice to monitor the bookings and settlements (20%).
- Perform daily, weekly, and monthly portfolio reconciliations, and provide reports on collateral activity (20%).
- Coverage of department needs, fill in for colleagues. As a smaller department, cross-training on job responsibilities is stressed and the need to cover for vacationing, traveling, or ill colleagues is frequent. Flexibility is a must as candidate will be expected to grow in the role and learn new tasks, products, and asset-classes (20%).
Qualifications:
Knowledge, Skills, Abilities:
- Ability to build strong and effective relationships at all levels with the business support areas of Operations, Trading, and Market Risk and Credit.
- Bloomberg and Microsoft Excel/Word/Access proficiency highly desirable; other database/VBA skills a plus.
- Requires high levels of motivation, energy, organization, interpersonal skills, communication skills, attention to detail.
Education, Licensure, Experience:
- Minimum: Bachelor's Degree (Economics or Business strongly preferred), with solid understanding of finance, accounting and statistics.
- Relevant Financial Product experience in one or more of the following areas including the production of PL: Interest rate derivatives, energy derivatives (crude natural gas), and/or Foreign Exchange.
For immediate consideration, please apply directly to job #25018 at www.unionbank.com/careers.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $97 billion at December 31, 2012. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 447 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on December 31, 2012. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world's largest financial organizations. Visit www.unionbank.com for more information.
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