Associate, Reconciliations

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Eagle is currently seeking an Associate, Reconciliations. This is a six (6) month contract position to start immediately in downtown Toronto.

Summary:

Under the direction of the Manager, CMG Repo Margin and Portfolio Reconciliation, of the Collateral Management Group (CMG), the Associate, Reconciliations 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 and with its Repo/ Reverse Repo business, are met, and that the Bank’s policies, procedures, and guidelines, in connection with margin call dispute resolution and proactive reconciliation, are followed in an efficient and effective manner. The role is also accountable for adhering to established controls, producing required reports, identifying process improvements and supporting new projects. Act as the escalation point for business issues related to proactive reconciliation and dispute resolution. Accountable to provide business and operational subject matter expertise (SME) and knowledge of day-to-day activities and CMG Reconciliation Team 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. The role is accountable to ensure all policies and procedures are followed to meet the relevant US and other regulatory requirements.

Daily Duties:

  • This role is responsible for reconciliation for Repo Margin;
  • Understand regulatory compliance in regards to the Dodd-Frank Act (DFA) and Europe Market Infrastructure Regulation (EMIR);
  • Responsible for pro-active reconciliation. This activity includes working with Valuation Product Control (VPC) in investigating and reconciling portfolio mark-to-market (MtM) differences with identified counterparties and escalating differences in accorda;
  • Responsible for investigating, resolving and escalating collateral disputes that exceed internal tolerance levels or regulatory thresholds in accordance with established dispute resolution procedures. This activity includes reconciling portfolio valuation;
  • Responsible for pro-active reconciliation. This activity includes working with Valuation Product Control (VPC) in investigating and reconciling portfolio mark-to-market (MtM) differences with identified counterparties and escalating differences in accorda;
  • With assistance from VPC, follow through and complete investigations for trades that have been identified as having valuation differences that have breached prescribed tolerance levels, as set out in the Bank’s Policies and Procedures (P&Ps) as well as in;
  • Reconcile collateral positions in the Calypso collateral management database against book-of-record systems such as ICI and IBUK to ensure accuracy.;
  • Analyze and produce collateral management reports for key client groups on a daily, weekly, monthly and on ad hoc basis.;
  • Understand regulatory compliance in regards to the Dodd-Frank Act (DFA) and Europe Market Infrastructure Regulation (EMIR);
  • Understand regulatory and compliance requirements as prescribed for CMG, such as Financing Guidelines and the Bank’s Policies and Procedures, and provide recommendations and implement actions to ensure adherence, as required;
  • Adhere to project industry standards, best practices, and requirements and ensure they are followed and assessed against current practices and policies; and,
  • Review policy and procedure (P&P) updates for potential impacts that require assessment of changes introduced. This includes CMG operating procedures, the Bank’s P&Ps and Financing Guidelines.

Educations & Skills:

  • Undergraduate degree with  3 to 5 years of related work experience in capital markets reconciliation
  • Good knowledge of OTC derivatives and swaps is beneficial;
  • Experience with OTC derivatives products;
  • Strong or advanced level of knowledge in MS Excel (macros, V-lookup function, VBA etc.) and MS Access is required;
  • CFA and/or FRM designation is required for this role;
  • Familiar with established process analysis and improvement tools is an asset, i.e. Algo collateral system / Calypso collateral management database;
  • Experience with collateral management processes is beneficial but not required; and,
  • Market practices as relates to collateral management is an asset.

Don’t miss out on this 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# 58525

  • Posted On: December 05, 2018
  • Job Type: Contract
  • Job ID: 58525
  • Location: Toronto/GTA ON