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Eagle is assisting our client, who is looking for an Operations Associate. This is a six (6) month contract position with a top tier organization, scheduled to begin immediately.
Under the direction of the Associate 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.
This role will allow for unlimited interactions with multiple internal partners, including the DLG (Derivatives Legal Group), business and technical stakeholders, as well as individuals from the front and back offices- this level of exposure and communication rarely comes in a role like this.
This role will also allow the individual to become adept at working with various trading platforms (including Calypso), as well as experience working under new compliance legislation (including the new UMR, or Unclear Margin Rules, which is currently in trial phases)
- Represent CMG Operations Team on projects and initiatives to provide business-specific context, information and analysis on proposed changes. Initiatives may include the development and implementation of new/ revised products, new systems or enhancements, new / revised processes in support of internal efficiencies and industry regulatory changes;
- Represent CMG Operations Team during change impact analysis and business requirements gathering, implementation planning and support, and issue escalation;
- Act as the primary contact for new and/or revised CMG Operations Team projects and initiatives, and liaise with other business units such as LOB, Finance Shared Services, Credit Risk, Market Risk, and the Derivatives Legal Group (DLG) and external systems providers to ensure business interests are represented and understood;
- Review, assess and recommend business readiness situations for new product introductions and feasibility of internal and external systems;
- Advise the business to accept changes in process and systems by informing key stakeholders of the implications of changes; recommend actions, as appropriate;
- Develop business cases for initiatives, using knowledge of service offerings, products and processes;
- Provide coaching and training to other staff from time to time;
- Assess opportunities for the migration of work in or out of assigned business units;
- May coordinate and/or implement test plans, test cases, training strategy development, training plans, parallel test strategy and plans, test documentation/ test specifications;
- Partner with TD CM & ERPM to ensure system application design specifications developed by TD CM & ERPM meet the business unit expectations/ requirements, and participate in the negotiation of solutions;
- Act as the liaison and intermediary for the delivery of assigned change management initiatives, ensuring business impacts and requirements for successful implementation of initiatives for CMG Operations Team are accurately and thoroughly defined and understood.
Intake and Assessment;
- Create, maintain and advise on intake and assessment processes for new business, projects and/or policy changes initiated by the business unit and/or internal business partners; act as subject matter expertise (SME) on projects for matters related to intake and assessment;
- Support the implementation and maintenance of process and system changes to ensure CMG’s business requirements are accurately defined, business implications and impacts of initiatives to CMG and its related stakeholders are understood, and leadership decisions regarding change initiatives are informed through a thorough and thoughtful analysis and recommendations;
- Ensure common application of standards and consistency of implementation in accordance with Bank standards and practices;
- Act as SME to translate business objectives into plans that can be implemented for small initiatives, including process redesign to compliment the change management/ product support strategy for CMG Operations Team, adhering to and maintaining established standards and practices; represent technical business needs and requirements in the introduction of new/ revised processes and systems;
- Identify any issues that may exist in CMG and provide solutions to these challenges and initiatives, where necessary;
- Follow through, monitor mark-to-market (MtM) 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 Financing Guideline for Collateral Management (CMFG);
- 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 Sentry Collateral Management System (Sentry) database and produce collateral management reports for key client groups on a daily, weekly, monthly and on ad hoc basis.
- Four (4) to five (5) years of related work experience, ideally in a similar, enterprise-level environment;
- Strong working knowledge of OTC derivatives (what they are comprised of, how to evaluate them, how they work, etc.);
- Working Knowledge of ISDA CSA agreements;
- Working experience with collateral management processes;
- Familiar with established process analysis and improvement tools;
- Familiar with products, operations and market practices as relates to collateral management;
- Solid knowledge of testing strategies, test plans and execution;
- Working Experience with Excel (using macros, v-lookups, etc.) as well as other Microsoft Suite technologies;
- Experience working with Calypso would be an asset;
- CFA Designation (either one in hand, or in the process of working towards one) would be an asset;
- Excellent communication skills, both oral and especially written (the bulk of communications with internal and external parties will be over email);
- Ability to, and a willingness to learn;
- Ability to meet tight deadlines;
- Strong analytical and problem-solving skills, with ability to analyze a component or components of a process to optimize system functionality;
- Team Player and a willingness to work with a team often; and,
- Bachelor's Degree is highly preferred
Don’t miss out on this excellent career opportunity, apply online today!
Eagle is an equal opportunity employer and will provide accommodations during the recruitment process upon request. We thank all applicants for their interest; however, only candidates under consideration will be contacted. Please note that your application does not signify the beginning of employment with Eagle and that employment with Eagle will only commence when placed on an assignment as a temporary employee of Eagle.
JOB ID# 54666