Collateral Management Middle Office

The Collateral Middle Office is responsible for executing and monitoring margin calls and interest according to the parameters established in the contracts, with management systems varying between COMET/DRACCAR for derivatives and bond repos, APEX for bond lending/borrowing, and SFCM for equity lending/borrowing. It is also in charge of reconciling positions with counterparties, monitoring and escalating issues regarding counterparties with discrepancies or unusual counterparty behaviors, and executing and monitoring reporting, particularly MtM (Mark-to-Market) reports. Principales taches de l’équipe :

1) Capture of collateral contract terms

• Configuration of collateral contracts in management tools
• Management of the collateral contract lifecycle (amendments, closures, modifications, etc.)
• Participation in collateral contract negotiations in case of non-convergence with our standards
• Ensure completeness of configurations through reconciliations between management systems and the legal database

2) Margin call management

• Notification, confirmation and booking of margin calls in COMET for bond repos and OTC derivatives, in APEX for bond SLB and in SFCM for equity repos and SLB (NY time zone)
• Contact with Front Office to borrow securities posted as collateral
• Coordination with BO payment teams for margin call settlements
• Analysis, monitoring and resolution of payment suspense items (cash and securities)
• Analysis of collateral balances
• Coverage of non-standard collateral operations (Secured Deposits, Secured Notes, Secured Loans, etc.)

3) Controls and reconciliations

• Margin call controls: Notifications sent, amounts booked in the tools
• Margin call reconciliation
• Implementation of regulatory reconciliations in management tools for uncleared OTC Derivatives (COMET/Trioptima)
• Execution of portfolio reconciliations in Trioptima and EXCEL (regulatory and in case of margin call disputes)
• Investigation of significant MtM variations and breaks identified in reconciliations (MtM or inventory discrepancies)
• Daily reporting and monitoring of discrepancies and disputes detected

4) MtM Reporting

• Sending of MtM reports for NY time zone clients (Daily, weekly or monthly)
• Monitoring of DFA daily marks operations/clients
• Management of audit requests on market operations

5) Projects, processes and procedures

• Participate in improvement projects in collaboration with Paris teams (including UAT)
• Formalize and document the various processes

6) Transverse

• Reporting activities (Internal–KPI, KRI – External to regulatory authorities/Market surveys)
• Incident reporting process
• Business development: provide opinions/analyses on NAPs, participate in UATs (system upgrades, new products, etc.)
• Management of requests received from clients/other CACIB departments and escalation of any atypical request/situation

Management and Reporting

Reports to the Head of Collateral Team

Key Internal Contacts

Legal Department, Back/MO Office, Front Office, MaM, Risks, IT Teams.

Key External Contacts

Clients' collateral departments (Banks, Hedge Funds, Insurances, Corporates)

SPECIAL ROLE REQUIREMENTS

Required

• Customer service orientation
• Good communication skills (verbal/written)
• Good knowledge of office tools (Word, Excel, VBA)
• Proactivity
• Organizational skills, methodical approach, rigor, priority management
• Active listening skills and ability to step back
• Strong knowledge of Collateral operations

Desired

• Knowledge of Trioptima
• Understanding of legal matters and Collateral contracts
• Understanding of activities related to OTC derivatives/Repo/Securities lending and borrowing
• Team spirit/ability to make proposals

ESSENTIAL

QUALIFICATIONS/EDUCATION REQUIRED

Bachelor Degree / BSc Degree or equivalent

EXPERIENCE REQUIRED

6-10 years

COMPETENCIES REQUIRED

• English (French is a plus)
• Experience with collateral processes required.
• Understanding of Reconciliations preferred

SKILLS & KNOWLEDGE REQUIREMENTS

• Client Relationship management
• Strong Verbal and written communication skills
• Strong knowledge of Excel

ANY OTHER RELEVANT INFORMATION

PREFERRED

• Understanding of Legal issues and legal documentations pertaining to Collateral
• Understanding of derivatives /repos equity activity
• Capacity to cooperate / ability to propose improvement