Closing date : 17th July 2009
Job Description
Collateral Management Is a centralised Global support function whose primary role is to mitigate credit risk through the determination and calling of margin at a portfolio level- The team supports collateral arrangements for Derivatives, Repo Stock Lending and London Clearing House transactions- All aspects of collateral management are performed by the team- These functions include: negotiating collateral agreements, marketing the collateral management function to Clients and RBS businesses, Data Management, Margin Calling, Dispute Management, Portfolio Reconciliations, Collateral Asset Management and Reporting-
Team Function and Responsibilities: · Role is within the Cross Product Operations Collateral Function, reporting to the Manager of Collateral New Business- · The Collateral Team is primarily based in London with staff also operating from North America and Asia (Hong Kong/Singapore/Tokyo)- The team provides a full collateral service to all RBS clients trading in OTC, Repo and Stock Lending products-
The role will involve working closely with the manager of the Collateral New Business, the Margin Team, senior individuals from other business areas, including Front Office, on Risk Mitigation, Funding and various business and project related process improvement initiatives-
Requirements
Business Knowledge · Strong understanding of GBM products · Strong understanding of Credit, Legal and Front Office processes · Detailed understanding of Cash & Bond Settlements, along with further OTC Derivative and Repo knowledge · Understanding of the legal, credit and operational risks associated with Collateral · Detailed understanding of commercial, legal, financial and operational aspects of collateral management
Technical Knowledge
· Knowledge of ISDA CSA (NY & English Law) and the 2001 ISDA Margin Provisions · Understanding of other margining functions (futures, margin trading, prime brokerage) · Awareness of industry and market initiatives · Knowledge of payments and funding standards within the market Additional Useful Skills - Knowledge of Algo (preferable)
- Good working knowledge of Microsoft Office Program Suite (Excel, Word, PowerPoint and Outlook)
Responsibilities
· Verify and authorise Collateral bookings to ensure accuracy- · Categorise and prioritise risk items on a daily basis and ensure the necessary steps are taken to mitigate or escalate the risks- · Manage Collateral Assets, ensuring that this is adequately funded- · Ensure that Collateral used / held is fit for purpose- · Monitor Collateral moves through to payment systems and ensure that moves are completed in a timely fashion- · Ensure that key business controls are performed and meet with agreed targets- · Provide a comprehensive client service experience to all stakeholders (including counterparties) of the collateral process-
The Individual
· Enthusiastic, motivated, ambitious with a strong desire to succeed · Team Orientated - strong team player who will also promote an effective team environment · Strong personal ownership and commitment to quality- Willing to contribute and speak up with a view or opinion, and add value by questioning and probing where necessary to ensure a through and robust solution · Excellent communicator, able to adapt delivery style and language to suit the audience- Able to present complex issues and solutions to mixed audiences and where necessary resolving conflicts and complexity by delivering practical solutions · Form and maintain key relationships of mutual respect and trust which fosters a climate of collaboration, both internally and externally to GBM- Able to win respect by working with people at all levels across technology and within the business
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