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Derivatives Operations Consultant

Req. #:  14319
Department: Investment Administration
Location: Montreal, QC CA
Job Status: Permanent Full-time
Grade:  07
Category: Accounting, Finance and Taxation
Description:

The Consultant is responsible to develop, implement and manage the derivatives collateral management process. This Consultant will work in a small team and have the ability to drive forward our systems, procedures and reporting requirements to meet current and future needs.

This role contributes to the achievement of the Finance Division objectives by mitigating risk to the Firm in a cost-efficient manner, by ensuring over-the-counter (OTC) derivatives exposure is collateralized against counterparties in accordance with executed legal documentation (ISDA Master Agreement and Credit Support Annex (CSA). 

  • Sign off on the daily derivatives operations included (collateral management, margin entries, positions and derivatives valuation).
  • Participate in the implementation of new derivatives products and financial instruments.
  • Investigate and resolve margin call disputes.
  • Manage credit exposure, including agreeing, instructing and settling positions daily with counterparties and clearinghouse.
  • Process collateral related transactions in collateral system.
  • Liaise with Standard Life Investments inc., Investment Operations teams and Legal department to implement new derivative instruments and/or new brokers/counterparties by providing input for CSA agreement clauses pertaining to collateral management.
  • Assist in the continuing technological advancement of the collateral management function.  Discover, use and apply automated approaches to collateral management.
  • Identify, implement and maintain controls to mitigate financial and operational risks. Ensure compliance with regulatory requirements and internal policies.
  • Through continuous benchmarking, evaluate, recommend and develop practices and controls that increase process efficiency and/or the quality of the information. 
  • Provide support and build relationships with our business partners and brokers/counterparties.
  • Assist partners in maintaining the accounting and financial reporting for collateral.
  • Cross-train with team members and develop Investment Operation individuals’ knowledge on derivatives. 
  • Document / Ensure documentation is complete, comprehensive and up to date for the procedures and processes under your responsibility.
  • Coordinate and execute special projects.
  • Assist and drive departmental derivative project deliverables. 
  • Assist in the development of processes relating to derivative project deliverables. 
  • Assist the front office in their margins projections and help develop financial models.
  • Assist the team in various analyses related to industry changes and be able to support findings.

REQUIREMENTS

  • Bachelor’s degree in Finance combined with 5 years experience in the financial services industry in a similar role.
  • CFA (completed or in progress) OR Masters in Finance (or DESS).
  • Strong derivatives valuation and OIS discounting knowledge, an asset.
  • Strong knowledge of Back Office / Front Office operations.
  • Ability to build and maintain excellent relationships.
  • Very good knowledge of derivatives and of ISDA and CSA agreements and their application to the collateral margining process.
  • Knowledge of quantitative analysis and financial risk measures, an asset.
  • Good oral and written communication in English and in French. 

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The personal information gathered on this website is considered strictly confidential and will be used exclusively for recruitment purposes by the Human Resources department at The Standard Life Assurance Company of Canada. Under no circumstances will this information be used for other purposes or forwarded to a third party without the candidate’s authorization.





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