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. Principales taches de l’équipe :
1) 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
2) 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.)
3) 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
4) 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
5) Projects, processes and procedures
- Participate in improvement projects in collaboration with Paris teams (including UAT)
- Formalize and document the various processes
6) 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 CACIB departments and escalation of any atypical request/situation
Management and Reporting
Reports to the Head of Collateral Team
Key Internal Contacts
Legal Department, Back/MO Office, Front Office, MaM, Risks, IT Teams.
Key External Contacts
Clients' collateral departments (Banks, Hedge Funds, Insurances, Corporates)
SPECIAL ROLE REQUIREMENTS
Required
- Customer service orientation
- Good communication skills (verbal/written)
- Good knowledge of office tools (Word, Excel, VBA)
- Proactivity
- Organizational skills, methodical approach, rigor, priority management
- Active listening skills and ability to step back
- Strong knowledge of Collateral operations
Desired
- 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
ESSENTIAL
QUALIFICATIONS/EDUCATION REQUIRED
Bachelor Degree / BSc Degree or equivalent
EXPERIENCE REQUIRED
6-10 years
COMPETENCIES REQUIRED
- English (French is a plus)
- Experience with collateral processes required.
- Understanding of Reconciliations preferred
SKILLS & KNOWLEDGE REQUIREMENTS
- Client Relationship management
- Strong Verbal and written communication skills
- Strong knowledge of Excel
ANY OTHER RELEVANT INFORMATION
PREFERRED
- Understanding of Legal issues and legal documentations pertaining to Collateral
- Understanding of derivatives /repos equity activity
- Capacity to cooperate / ability to propose improvement
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Collateral Management Middle Office in Montréal employer: emergiTEL Inc.
emergiTEL Inc. is an exceptional employer that fosters a collaborative and innovative work culture, particularly in the vibrant public sector of Edmonton. Employees benefit from comprehensive growth opportunities, mentorship programs, and a commitment to professional development, all while contributing to meaningful projects that impact the community. With a focus on cutting-edge technology and a supportive team environment, emergiTEL Inc. stands out as a rewarding place to advance your career as a Senior Digital Architect.
