Collateral/Margins Operations Analyst: Chicago, IL

Job description

Job description

Job Description:

Global Markets Operations and Middle Office (GMO&MO) provides controlled and cost effective post trade processes across the business we support and ensures global consistency of processes and strong global and local supervision.

The main function of the Collateral/Margins Operations team is to mitigate exposure to counterparty risk on OTC derivative trades. The Analyst will be expected to be a team member of the Collateral Operations team, which montiors daily margin for customers across various products (Rates, Commodity, Structured Credit, Equity, and Foreign Exchange).  Counterparty net exposure is evaluated each morning in order to determine collateral requirements.

Deliveries & Responsibilities

The Collateral team interacts with a variety of different groups within the Bank:

·  Back Office/Middle Office Operations - stores copies of all confirmations of each transaction and can verify market values and rate for individual trades
·  Corporate Treasury/Global Securities Operations - determines collateral allocation and delivery of securities
·  Cash/Wire Transfer - sends/receives cash collateral
·  Marketers/Traders - trade and market derivatives with Financial Institutions and Corporate Customers
·  Credit - monitors credit exposure on derivatives
·  Capital Markets Documentation - negotiates the collateral agreements

Due to the amount of interaction with our counterparts and other groups, excellent communication skills are necessary.  An open flow of communication, specifically relating to new issues or problems, is necessary between team members. The ability to read and interpret a credit support agreement is a priority as discrepancies and reconciliations are a regular part of business.

Aside from daily position monitoring and counterparty contact, the Analyst will be required to investigate mark discrepancies, maintain current procedure manuals and look for methods of improving efficiency.  Additional responsibility will arise as projects are mastered and time permits. As our landscape is changing with the implementation of the Dodd-Frank Act the ability to adapt to change is a must and gives opportunity to learn.