Collateral Management Associate

Collateral Management Associate

Title: Collateral Management Associate
Status: Permanent, Full time
Salary: Annual salary + 10% bonus + 4 weeks of vacation + health benefits
Location: Downtown Montreal, Quebec - Hybrid 3 days in office, 2 days work from home after the probation period

TO APPLY: Please send your resume to [email protected]

Our client is an international banking and financial institution with divisions located in the Americas, Europe, Asia,and the Middle East. They are establishing their first Canadian office and are expecting exponential growth.

The Collateral Middle Office is responsible for executing and monitoring margin calls and interest according to the parameters established in the contracts, with management systems varying between COMET/DRACCAR for derivatives and bond repos, APEX for bond lending/borrowing, and SFCM for equity lending/borrowing. It is also in charge of reconciling positions with counterparties, monitoring and escalating issues regarding counterparties with discrepancies or unusual counterparty behaviors, and executing and monitoring reporting, particularly MtM (Mark-to-Market) reports.

Key Responsibilities:

Capture of collateral contract terms
• Configuration of collateral contracts in management tools
• Management of the collateral contract lifecycle (amendments, closures, modifications, etc.)
• Participation in collateral contract negotiations in case of non-convergence with our standards
• Ensure completeness of configurations through reconciliations between management systems and the legal database

Margin call management
• Notification, confirmation and booking of margin calls in COMET for bond repos and OTC derivatives, in APEX for bond SLB and in SFCM for equity repos and SLB (NY time zone)
• Contact with Front Office to borrow securities posted as collateral
• Coordination with BO payment teams for margin call settlements
• Analysis, monitoring and resolution of payment suspense items (cash and securities)
• Analysis of collateral balances
• Coverage of non-standard collateral operations (Secured Deposits, Secured Notes, Secured Loans, etc.)

Controls and reconciliations
• Margin call controls: Notifications sent, amounts booked in the tools
• Margin call reconciliation
• Implementation of regulatory reconciliations in management tools for uncleared OTC Derivatives (COMET/Trioptima)
• Execution of portfolio reconciliations in Trioptima and EXCEL (regulatory and in case of margin call disputes)
• Investigation of significant MtM variations and breaks identified in reconciliations (MtM or inventory discrepancies)
• Daily reporting and monitoring of discrepancies and disputes detected

MtM Reporting
• Sending of MtM reports for NY time zone clients (Daily, weekly or monthly)
• Monitoring of DFA daily marks operations/clients
• Management of audit requests on market operations

Projects, processes and procedures
• Participate in improvement projects in collaboration with Paris teams (including UAT)
• Formalize and document the various processes

Transverse
• Reporting activities (Internal–KPI, KRI – External to regulatory authorities/Market surveys)
• Incident reporting process
• Business development: provide opinions/analyses on NAPs, participate in UATs (system upgrades, new products, etc.)
• Management of requests received from clients/other departments and escalation of any atypical request/situation

Qualifications:
- Bachelor Degree / BSc Degree
- Experience with collateral operations required.
- Experience with Margin Calls
- Understanding of Reconciliations preferred
- 2-5 years of experience in a similar role
- Client Relationship management
- Strong Verbal and written communication skills
- Strong knowledge of Excel
- Knowledge of Trioptima
- Understanding of legal matters and Collateral contracts
- Understanding of activities related to OTC derivatives/Repo/Securities lending and borrowing
- Team spirit/ability to make proposals

We thank all candidates for showing interest in this role; however, only retained candidates will be contacted.

For more information on our recruitment services, please visit our website www.groomassocies.com

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