Head of Margin Team Job
Role & Key Responsibilities:
Collateral Management and Valuations (CMV)
The Collateral Management and Valuations function is responsible for one of the largest, cutting edge, global programs in the market. With collateral assets under management commanding a significant position in the market today; coupled with the explosive growth in demand for our product the Collateral Management & Valuations group continues to offer diverse and challenging roles.
Collateral Management is responsible for supporting the collateralization of the derivatives, repurchase agreement (repo) and foreign exchange (FX) businesses. This global group has offices in London, New York, Tokyo, Bangalore and Singapore and supports nearly 8000 clients. CM actions approx 700 margin calls daily and is also responsible for the settlement and management of the collateral, as well as the approval and profiling of ISDA agreements and CSAs.
Who are our clients?
Hedge Funds, Mutual Funds, Pension Funds, Insurance Companies, Institutional and Private Investors, Banks.
Derivatives (Rates / Credit / Equities), Foreign Exchange (Options / Forwards), Commodities, Debt Securities and Structured Trades.
Manage the Collateral Management team of 40-50 staff
- Manage a large team, covering OTC derivative margining, new business, asset and disputes management.
- Build and maintain strong working relationships with Sales, Credit, Legal, and other operations areas, as well as with external clients
- Handle escalated client issues and disputes
- Facilitate management of staffing and headcount issues, manage relationships with external staffing vendors, interview and hire new staff, etc.
- Participate in discussion and approval of the collateral monitoring of new products within CM
- Hold periodic team meetings, staff meetings and training sessions to communicate changes and initiatives to staff
- Consistently seek opportunities to improve processes, controls and procedures within the Margin Management team
Partner with the project team to develop requirements for system enhancements and assist:
- With user acceptance testing
- Manage interest team, supporting monthly interest statement process, interest receivable collection, as well as ad hoc interest issues throughout the month
- Work closely with IT to ensure that all system issues are escalated and resolved quickly, and that systems are utilized by the team to optimal efficiency
Margin Call Management
- Ensure adequate controls are in place for daily margin calls and collateral movements
- Create culture of end-to-end client ownership
- Provide support for “Lean Cell” process of priority clients
- Communicate and provide escalation for collateral disputes
- Work with partners across organization to resolve disputes
- Monitor and approve metrics reflecting both margin process and dispute resolution
- Participate in New Product Approval and introduction to the team
- Ensure appropriate levels of support for Collateral Transformation project
- Leverage contacts at other firms to accelerate problem solving
- Identify and implement STP initiatives and fine tuning of current internal work flows; ability to effect change to existing platform and processes.
- Interaction with Auditors and Local regulators.
Required Skills and Experience
Ideal candidate will have
- 5 – 10 years of experience in OTC derivative margining and Repo collateral
- Experience of derivatives and repo margining under ISDA CSA Agreements
- Knowledge of Fed, DTC and Euroclear settlements processes
- Knowledge of derivatives trades (swaps/options etc) and collateral products (Treasuries, Agencies, MBS etc) is required
- Solid control background and understanding of reconciliation process
- Well versed in OTC derivatives (Swaps, FX, Forwards, Repo)
- High degree of autonomy and proven track record of delivering change
- Experience managing a diverse team in multi entity environment
- 4 year college degree in business related subject preferred
- Strong leadership skills and excellent communication & negotiation skills with good client focus
- Root cause analysis & problem solving
- Strategy development & implementation
- Motivated and positive attitude
- Reputation for excellence
- Proficient in MS suite of products including Excel, Word and Powerpoint