VP: Manager – Collateral Management APAC recruitment
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.
The Role is within the Markets Operations – Collateral Management Function, reporting to the Head of Collateral Management APAC.
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.
The Manager will be responsible for the APAC Collateral Margin Team and Collateral Investigation/Data Team, reporting directly to the APAC Head of Collateral Management.
Activities:
- Manage the core functions:
- Collateral OTC Repo margin function
- Collateral Clearing function
- Collateral Data Management function
- Collateral Portfolio Investigations function
- Collateral New Business function
- Ensure Supervisors and the various “champions” in the team understand their roles clearly so that the Team performs in an accurate, efficient manner, and with minimal risk to RBS.
- Responsible for building capacity into the Team, whilst maintaining a controlled, risk sensitised environment.
- Ensure that a high level of client service is maintained throughout the Collateral Management team.
- Staff development and the monitoring of that development.
- Agreement and setting of objectives for members of the Collateral Management Team together with the team Supervisors.
- Ensure adherence to credit policy and controls principle (eg EUDA and Reconciliation policies).
- Develop a sustainable succession plan primarily through supervisor development.
- Ensure all escalations are dealt with effectively
Key Deliverables:
- Ensure that teams complete all daily tasks as per the check lists and on time
- Ensure all margin calls for APAC clients are issued and answered
- Ensure all collateral requirements to the clearing houses under the responsibility of the APAC team are met
- Address all escalations appropriately and ensure key controls as per the control checklist are met
- Ensure that the team reconcile disputes and maintain Fed targets for allocated clients
- Ensure the data team product margin calls on time and escalate any delays appropriately
- Foster a climate of cross boarder collaboration and maintain a high level of morale
- Build and maintain relationships with key stakeholders in CEM, Front Office, Legal, Documentation, Operations, Finance and Credit Risk
Scope of Role:
- Regular and consistent monitoring of margin calls – communication of observed patterns (including unusual trading activity and potential fraud) to senior management and business heads
- Working with the regional offices to ensure a smooth handover of issues between teams in the ‘follow the sun’ global model.
- Maintain a controlled environment and ensure teams adhere to policy
- To act as a culture carrier – establish, nurture and develop processes and behaviours within the team that are consistent with both the stated values of the department and superior client service, control and risk awareness
- Timely escalation of all disputes, reconciliation and client service issues to the Head of Collateral Management APAC, the front office and risk management
- Identify and facilitate training needs within the Team.
- Work with Head of Collateral Management in the recruitment of staff.
- Participate and represent RBS at industry forums: ISDA, industry round tables, conferences etc
People Management:
- Review KTT checklist Team Depth Charts.
- Responsible for management of team holiday, early leave and sickness schedule together with team supervisors
- Resolve all people related issues and conflicts in a timely and customer orientated manner.
- Identify and incentivise key talent, and assist in the development of underperforming staff.
- Agree and produce a development plan for direct reports.
- Set and review objectives, manage appraisals and maintain E-performance documents.
- Maintain 1-2-1 meetings with all permanent staff to track performance and objectives progress
- Develop succession planning across the team
- Engagement in global team meetings and update the global management team of APAC business and team developments
Financial Management:
- Ensure the team maintain a controlled cost environment
- Ensure collateral posted to APAC clients are optimised and funding costs are minimised
- Ensure all operational errors and PnL consequences of those errors are minimised
- Ensure all collateral movements are approved before cut off times to minimise funding charges
Essential Experience:
Essential
- Understand the Collateral Management process
- Knowledge of ISDA Credit Support documents
- Microsoft Office, Excel, and Outlook should be intermediate/advanced
- Sound understanding of OTC derivative products
- Sound understanding of collateral assets: cash, bonds, equity, letters of credit etc
- Aware of industry initiatives within the collateral space (portfolio reconciliations, fed targets, CCPs, Basel, EMIR, Dodd Frank etc)
- Proven track record of people development, coaching and training
- Proven track record of succession planning
- Proven culture carrier
- Solid understanding of operational risk and fostering a risk and control culture
- Over 7 years experience in financial services or equivalent. Candidates with less than 7 years experience must demonstrate a proven ability to operate at a VP level
Desirable
- Settlements experience
Qualifications:
Essential
- Degree Level (or equivalent) Qualification
Desirable
- Degree Level (or equivalent) Qualification in a Financial discipline
Technical Competence:
Essential
- Able to identify and resolve issues with minimum supervision
- Hard working
- Creative and reliable
- 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
- Ability to multi-task and manage ever changing and often conflicting priorities
- Awareness of industry and market initiatives
Desirable
- Knowledge of ISDA CSA, NY, English Law and the 2001 ISDA Margin Provisions
- Knowledge of Algo Collateral
May 21, 2012
• Tags: Collateral Management APAC recruitment, Operations careers in the Singapore, VP: Manager • Posted in: Financial