Associate, Collateral Management for Bilateral OTC (Over-the-Counter) Derivatives

Application Deadline:

09/06/2024

Address:

100 King Street West

Job Family Group:

Customer Shared Services

MANDATE

MANDATE

Under the direction of the Director, Operations Team, of the Collateral Management Group (CMG), the Associate, Operations, is responsible for ensuring that the terms of the collateral agreements that the Bank enters into, in connection with its over-the-counter derivatives business, are met.  The role is also accountable for adhering to established controls, producing required reports, identifying process improvements and supporting new projects and taking a leadership role in CMG in respect of projects and other collateral management related matters.  Accountable to provide business / operational subject matter expertise (SME) and knowledge of day-to-day operations and collateral management related projects.  Act as SME to translate business objectives into plans that can be implemented, including process redesign to compliment the change management / product support strategy for CMG.  Delivers specific operational processes/activities relating to the management and type of collateral being handled, and in accordance with established policies, procedures and regulations. Specialty activities are related to the types of collateral being managed and may include (but is not limited to) safe keeping, tracking/reporting, perfections, continuations, releases, etc.

KEY AREAS OF ACCOUNTABILITY

Risk & Control

• Follow through, monitor mark-to-market (MtM) and Reg IM SIMM exposure to the Bank’s counterparties to mitigate credit losses and process the movement of collateral between the Bank and its counterparties around the world, and ensure timely settlement and that the terms of the collateral arrangements are met, as set out in the Capital Markets Enterprise Operating Procedure (CM EOP).
• Collaborate with CMG Reconciliation team in their investigations when necessary.
• Act as a SME to create new and existing reports for various Bank areas involving data extraction, using extensive knowledge of the Calypso Collateral Management Module CCMM database and produce collateral management reports for key client groups on a daily, weekly, monthly and on ad hoc basis.
• Maintain, update and review static data in the CCMM database against Credit Support Annex (CSA) Monitoring Advices to ensure completeness and accuracy.
• Maintain, update and review static data in the CCMM database against Master Securities Forward Transaction Agreements (MSFTA) to ensure completeness and accuracy.
• Process payments in connection with collateral arrangements e.g. monthly interest on cash collateral, coupon payments and service charges.
• Understand regulatory and compliance requirements as prescribed for CMG, such as CM EOP, and provide recommendations and implement actions to ensure adherence, as required.
• Adhere to project industry standards and requirements and ensure they are followed and assessed against current practices and policies.
• Mitigate audit exposures and maintain awareness of regulatory impacts of change initiatives.
• Review policy and procedure (P&P) updates for potential impacts that require assessment of changes introduced.  This includes CMG operating procedures
• Identify potential risk situations within the scope of work (e.g., risk assessments), make recommendations and/or escalate to the manager, where appropriate, and ensure contingency plans exist.
• Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business.
• Ensure adherence to all aspects of FirstPrinciples, Our Code of Business Conduct and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, P&Ps, e.g. CM EOP, for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
• Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with CMG procedures, CM EOP and Bank P&Ps.
• Follow security and safeguarding procedures as outlined in CMG procedures and in CMFG and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.
• Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate action, ensuring compliance requirements, audi