Collateral Margin Analyst, Officer
- State Street
- London, UK
- Not disclosed
- 23 Mar 2023
- 23 Apr 2023
- Approved employers
- Approved employer
- Job role
- Business analyst, Compliance/risk, Fund accountant
- Contract type
- Full time
- Experience level
- Qualified accountant
Who we are looking for
A derivatives expert to undertake all aspects of the Collateral margining process to ensure counterparty risk is effectively managed. The role will involve liaising with various internal and external stakeholders covering OTC bi-lateral/Repo/OTC Cleared/ETD and Portfolio Reconciliations work streams.
Why this role is important to us
The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions. From core custody, accounting, fund administration and shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS’ tools help our clients make better investment choices and act on growth opportunities.
Join us if making your mark in the financial services industry from day one is a challenge you are up for.
What you will be responsible for
As Collateral Margin Analyst, Officer you will
- Mitigate State Street exposure risk through the daily collateral margin process across OTC bilateral, OTC Cleared, Repo and ETD.
- Actively manage margin calls with counterparts and either formally agree or dispute in line with agreement timescales and the internal State Street escalation procedure.
- Book cash and stock collateral movements within Lombard Colline ensuring instructions are issued to the market in time to meet settlement deadlines.
- Management of settlement fails for both cash and stock collateral movements by communicating with counterparts to achieve settlement in a timely manner.
- Agree interest payments on cash positions with counterparts ensuring these are posted within Colline and internal accounting systems to ensure timely settlement.
- Review TriResolve Trade and Collateral breaks
- Establish strong relationships and work in conjunction with Investment Operations, Custodians, Brokers and Counterparts.
- Contribute to developing the cross-regionally relationship between London and State Streets global offices and hubs.
- Ensure any changes/improvement to processes are recorded in the team procedures.
- Contribute to the departments long term strategic initiatives and undertake testing when required
- Keep up to date with market, regulatory and business changes relating to the work of the department/State Street.
- Assist department and IT to define requirements, developing innovative system or process solutions where gaps identified.
- Understanding of key operational risk and performance indicators, including involvement in operational control meetings.
- Work collaboratively with supervisor/manager fostering credibility and influence towards developing a reputation of operational excellence across the firm, share best practise with peers, creating an awareness of issues throughout the department.
- Challenge the status quo and question existing process, workflow and operating models to reveal their underlying purpose. Realign the current to the future state and implement new only when necessary.
- Initiate/participate in change projects to enhance the control framework for all trade processing tasks in the team, mitigate risks and close internal/external audit points
What we value
These skills will help you succeed in this role
- Strong understanding of:
- Key Collateral operational processes e.g. settlements/reconciliation/margin workflow
- OTC Derivatives / Repo products
- Legal, Credit and Operational risks associated with Collateral
- ISDA CSA (NY & English Law) and the 2001 ISDA Margin Provisions
- GMRA Margin Provisions
- Ability to work to strict deadlines
- Proactive approach to work with a focus on improving processes and key controls
- Good written and verbal communication skills
- Team player who is flexible in their approach to work
Education & Preferred Qualifications
- 2:1 Degree or equivalent.
- Previous use of Vermeg Colline/TLM/Quasar/Swift Alliance/TriResolve/Acadiasoft MarginSphere
- Understanding of industry initiatives
- Understanding of upcoming regulatory constraints
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
For further information, and to apply, please visit our website via the “Apply” button below.