At a Glance
- Tasks: Manage collateral contracts, execute margin calls, and ensure compliance in a dynamic financial environment.
- Company: Join a leading international bank with a strong reputation in investment banking and capital markets.
- Benefits: Enjoy a competitive salary, generous vacation, RRSP matching, and comprehensive health benefits.
- Other info: Great opportunities for career growth and involvement in innovative projects.
- Why this job: Be part of a crucial team that impacts global finance while developing your skills in a hybrid work model.
- Qualifications: Strong communication skills and knowledge of collateral operations are essential.
The predicted salary is between 95000 - 110000 $ per year.
A large international financial institution operating across multiple regions, serving corporate, institutional, and commercial clients. The organization provides services in investment banking, capital markets, structured finance, commercial banking, and international trade within a highly regulated global environment.
Position: Collateral Management Middle Office specialist
Location: Montreal
Work model: Hybrid, 2 days remote work allowed, in-office to start for training
Type of position: Full time, permanent
Salary: 95-100k + 10% bonus + 4 weeks vacation. They offer a great benefits package. RRSP matching, you contribute 2% and they contribute 8%.
More about the role: 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 behaviours, and executing and monitoring reporting, particularly MtM (Mark-to-Market) reports.
Key responsibilities of the team:
- 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
- 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
- Reporting activities (Internal–KPI, KRI – External to regulatory authorities/Market surveys)
- Business development: provide opinions/analyses on NAPs, participate in UATs (system upgrades, new products, etc.)
- Management of requests received from clients/other of the bank's departments and escalation of any atypical request/situation
Required:
- Good communication skills (verbal/written)
- Good knowledge of office tools (Word, Excel, VBA)
- 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
Collateral Management Middle Office in Montréal employer: Groom & Associés / Associates
Groom & Associés is an exceptional employer that fosters a collaborative and innovative work culture, particularly for the Director of Financial Planning and Analysis role in St Jacques, QC. With a strong emphasis on employee growth and development, the company offers unique opportunities to lead strategic financial initiatives while working in a hybrid environment that promotes work-life balance. Employees benefit from a supportive team atmosphere and are encouraged to contribute to the organization's continuous improvement and transformation efforts.
Contact Details:
Groom & Associés / Associates Recruitment Team
