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Assistant Vice President, Collateral Management

Employer
MUFG
Location
London, United Kingdom
Salary
Competitive Salary
Closing date
Oct 1, 2020

View more

Job Role
Accounts Assistant
Sector
Finance
Contract Type
Permanent
Hours
Full Time

MUFG Securities EMEA plc is the European hub of MUFG's securities business. Headquartered in London we have just over 600 employees and are active throughout the international capital markets, focusing on debt, equity, derivatives and structured products. Due to the diverse nature of our business we require a clear unifying vision for all of our people. It is this vision and our corporate values that reflect who we are and guide how we behave. We therefore strive to recruit individuals who share our vision and values, and who have the motivation and commitment to help us move our business forward.

The Operations division is core to all of MUFG business activities. Comprising of c.100 employees across London, New York and Hong Kong, the function consists of Middle Office, Settlements, Collateral Mgmt and Operational Control, covering a diverse product range including Equities, Fixed Income, Derivatives and Futures.

The division is responsible for processing and settling every trade booking and that cash flows and margins are managed, while ensuring wide ranging regulations are consistently met. Operations also play an instrumental role in business development and the introduction of new products and markets.

The Collateral Management area is responsible for the management of the division's collateral across OTC, Fixed Income and Stock Borrow Lending efficiently and accurately.

NUMBER OF DIRECT REPORTS

0

MAIN PURPOSE OF THE ROLE

We have an exciting opportunity for an experienced Analyst to work within our Collateral Management department. The candidate will be responsible for processing the Margin Exposure across all asset classes (OTC, Repo and SBL) by calling counterparts where MUFG is exposed and meeting counterparts calls on MUFG in line with MUFG valuations. This role will initially be specific cover for SecLending and Repo margin with the opportunity to cross train in the OTC margin space.

  • Ensure all margin bookings are correctly reflected in key systems (Algo, Murex, Apex) for agreed settlement.
  • Timely resolution of any resulting Nostro breaks.
  • Ensure the CTD collateral is used in conjunction with TRY/RPG.
  • EOD Dispute and MtM differences escalated to line manager.
  • Carry out all duties in line with the Department's procedures and ensuring these are updated accordingly to reflect current processes in conjunction with your Line Manager.

KEY RESPONSIBILITIES

  • To be the key point of contact for OTC margin queries for clients, business units and Risk areas
  • Proactively explore tactical and strategic solutions to close identified control gaps
  • Processing daily VM and IM OTC margin calls using TLM/Sentry/Algo
  • Responsible for publishing intra-day and EOD MI on daily margin call disputes
  • Assist with the monthly settlement of interest on cash margin
  • Ensure that all margin bookings are accurate and settle as agreed within currency/settlement cut-offs.
  • A working knowledge of ISDA/CSA documentation and how these impact the collateral Management process and to be able to comment on any bespoke terms during the negotiation stage from an Ops Collateral Management perspective.
  • To troubleshoot problems arising on an ad hoc basis
  • To ensure that procedures are kept up to date and that improvements are made when necessary in an effort to improve efficiency across the department
  • To liaise with traders, Legal, other support areas and counterparties, and strive to ensure maximum internal and external client satisfaction


SKILLS AND EXPERIENCE

Essential Experience:

  • >5 years financial markets experience predominantly based within top tier firms' Fixed Income (including OTC), Clearing and Collateral environments. Will have spent at least >2 years in their last position working in Collateral Management, in particular OTC Margin
  • Should have a good understanding of the front to back trade flows
  • Understanding of OTC margin/collateral processes and collateral portfolio reconciliation using TriResolve.
  • Strong working knowledge of OTC Derivatives products, being able to understand and unravel complex trading that can impact the margin call process
  • Good working knowledge of Acadiasoft solutions; Exposure Manager/MarginSphere
  • Some knowledge of the SIMM calculation
  • Strategies involving bespoke collateral management processes
  • A good understanding of the regulatory environment/framework that impacts collateral management. Especially, having exposure to Dodd-Frank and EMIR uncleared margin rules
  • A good understanding of the key fields within a CSA agreement that has an impact on margin calls

Desirable experience:

  • Good understanding of SBL (Securities, Borrowing & Lending) and Repo processes
  • A good working knowledge of the cleared margin process i.e supporting the margining process at the various clearing houses; LCH, Eurex etc
  • Understanding of life-cycle of trade processing for Equity and Fixed Income products including trade capture, settlement and reconciliations for Securities Lending transactions.
  • An understanding of areas outside of operations would be beneficial. i.e. Finance, Product control etc
  • Use of third party platforms such as Pirum, Equilend etc for automated cash mark processing
  • Understanding of the GMSLA/GMRA
  • Experience of using TLM/Sentry/Algo, Sungard Apex, SWIFT, Intellimatc

PERSONAL REQUIREMENTS

  • Excellent communication skills
  • A pro-active, motivated approach.
  • The ability to operate with urgency and prioritise work accordingly
  • A structured and logical approach to work
  • A creative and innovative approach to workExcellent interpersonal skills
  • Excellent attention to detail and accuracy
  • A calm approach, with the ability to perform well in a pressurised environment
  • Strong numerical skills
  • Excellent Microsoft Office

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.

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