Senior Manager, Collateral Management

TMX Group Limited - Montréal, QC (30+ days ago)

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As part of its efforts to globalize the Canadian derivatives marketplace, the Montréal Exchange has extended its trading hours in October 2018 for all interest rate derivatives and index futures. The extension of trading hours has helped accommodate trading and risk management needs globally, by allowing domestic and international clients to manage their exposure to Canadian markets and execute various strategies outside of regular Canadian business hours. The extension of trading hours also allows the MX to provide liquidity and transparency to the marketplace for a greater period of time.

Following the successful launch of its first phase of Extended Trading Hours (2:00 a.m. ET open) and in light of client demand, the Montréal Exchange is working on further extending its trading hours by opening the market at 8:00 p.m. ET (t-1). This additional six hours of trading will allow for even greater access to Canadian interest rate and index futures for global participants.

Reporting to the Director, Collateral Management, the Senior Manager, Collateral and Relationship Management, Asia Hours provides strategic leadership, direction, and relationship management and is accountable for the timely management of the following areas:

Margin and collateral management;
Banking
Settlements
Ongoing client engagement and Client Reporting

This role is the central point of contact, the subject matter experts responsible for developing solid, long-term professional relationships with current and new clients, and ensuring ongoing client engagement associated with post trade activities.

This position is responsible for ensuring continued and enhanced client satisfaction by identifying how existing products and services can bring further value to our clients, and by understanding clients’ current issues, processes and long term needs so that new products and services can be identified and offered. This role is critical to the strategic launching of new products/business. They ensure they are available daily in an effort to enforce the relationship, establish trust, demonstrate commitment, improve services and ultimately ensure continued customer value. These positions also escalate as warranted to senior levels of the clients.

The candidate must be available to work a 7,5-hour shift to be performed between 8 p.m. and 7 a.m from Sunday night to Friday morning. The exact schedule will be determined at a later date.

Key Accountabilities

Provide guidance to the team for complex in-depth technical and analytical requirements for Collateral/Banking/Settlements;
Provide leadership and strategic direction including decision maker to internal staff;
Act as the central point of contact for clients, and ongoing client engagement to ensure client needs are met and solutions are provided;
Provide support and build new processes for new business strategy, new products, and projects (ie. Onboarding of new clients including performing client testing and training);
Act as delegate for Director, ensure succession planning is in place;
Oversee the management of Collateral Requirements to satisfy margin calls;
Oversee the full, complete and accurate Cash Reconciliations with all settlement Banks;
Provide support for the Montreal Exchange with client trade corrections;
Lead and support the Risk Management’s team and clients for Default Simulations and Disaster Recovery program;
Maintain a strong working relationship with Regulators, Internal and External Audit, Risk Management, Finance, Market Operations and Technology partners;
Oversee strict adherence to internal procedures, rules, audit requirements and internal controls verification processes;
Plan and manage department resources, including operational budgets, to meet audit, security, control and risk requirements while delivering quality services;
Manage staff performance and provide staff coaching, training, and development opportunities;
Provide recommendations using professional judgement, guided by known practices;
Responsible for the planning, forecasting and effective management of the unit’s operational expense and revenue budgets.

Education / Experience

University/college degree in commerce or business administration preferred;
8-10 years progressive operational/business experience in the securities industry, with at least 5 years in a management position.

Skills

Excellent listening, written and verbal communication skills
In-depth technical and analytical skills and ability to propose operational solutions and solve complex problems specific to a project or assignment.
Strong proficiency with Google, Excel and other desktop applications.
Strong organizational skills with the demonstrated ability to plan and prioritize in a time sensitive environment, acting decisively and calmly under pressure.
Ability to identify issues that may negatively impact Operations and exercise sound and prompt judgment in their resolution.
Excellent attention to detail and understanding of operational processes.
Excellent leadership and mentoring skills; ability to develop people by helping them consider alternatives for dealing with a situation.
Ability to effectively interact/negotiate with individuals at all levels in various capacities among our Participants, Issuers, Transfer Agents, Legal and Regulatory Offices and other high profile organizations
Excellent problem solving skills and ability to gather information through the questioning and observation, identifying recommendations for risk mitigation in a continually changing environment.

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.