Our firm, INTERMEDIA GROUP, INC., a large US based Staffing firm, has been retained by a Client in Jersey City
to aid in staffing the below vacancies:
JOB TITLE: Middle Office Group: Market Control Department
LOCATION: Jersey City, NJ
TYPE: Permanent Salaried Position directly with this Fortune 1000 Bank
Years Experience 1-3 years
The collateral operations senior specialist will primarily be responsible for providing direct support to the booking and settlement of collaterals for OTC Cleared Products and OTC Bilateral Derivatives as per ISDA CSA:
- Maintain eligibility criteria and customer account master static data as per terms and conditions sheet as per Local CSA’s terms and in the Master Collateral Spreadsheet (Collateral Master Exposure Manager)
- Monitor margin, process booking of margin, process settlements per FCM
- Check the consistency of the loaded data on a daily basis
- Perform MTM of posted collateral as per CSA’s valuation pricing agreement
- Contact counterparts to agree on margin calls within the prescribed time frame
- Perform daily, weekly, monthly portfolio reconciliations of OTC MTM, Minimum Thresholds and resulting Collateral call
- Reporting of collateral activity
- Ad-hoc projects as needed
· Possess proficiency in Microsoft Office including Word, Excel: Pivot tables, V-Look ups, Macros, PowerPoint, Access required supporting reporting functions and requirements for Collateral reconciliation, Collateral call and analysis.
· Basic Knowledge of exposures and limit management
· Willingness to learn collateral management and assist management in creating new and improved workflows
· Possess strong reconciliation skills
· Possess strong customer service and communication skills (work closely and directly with internal and external customers)
Ability to understand the counterparty risk management and ISDA/CSA agreements:
- Monitoring counterparty exposure on OTC products.
- Review and advise in the negotiation of ISDA/CSA agreements.
- Monitor requirements on credit triggers, credit rating provisions.
- Monitor and manage credit breaches of Counterparty risk limits/rules, escalate as needed
Manage Dispute Resolution Process: Minimize the bank's risk by ensuring disputes are identified and resolved in accordance with signed ISDA/CSA agreements or long form confirms and internal credit/audit guidelines
- Identify MTM and trade allocation disputes in a timely manner
- Escalate margin call disputes to appropriate business lines for resolution
- Generate/Create Dispute and Dispute Resolution report
- Review end of day reporting for accuracy
· Reconciliation and analytical skills.
· PC proficiency, Microsoft Office tools including Excel, PowerPoint
Strong verbal and written and communication skills
· Strong Customer service skills
· Associates degree. Previous work experience at an investment bank or other business related institution preferred
If you are interested in pursuing this opportunity, please respond back and include the following:
• Full MS WORD Resume
• Current and required compensation
• Current contact information
Upon receipt, one of our managers will contact you to discuss the position in full detail.