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Prime Brokerage Collateral Operations Analyst

, , United Kingdom

Job Description:

Job Title: Prime Brokerage Collateral Operations Analyst

LOB: Collateral Operations

Corporate Title: Officer

Location: London

Here in our London office, an opportunity has become available in our Collateral Operations business; specifically within the Prime Brokerage team. Collateral Operations sits within Global Market Operations (GMO) and is responsible for mitigating the credit exposure created by the day-to-day trading of Futures and Options across all Bank of America entities. Trading with all kinds of clients (Investment Banks, Hedge Funds, listed companies, Governments) upstream systems mark trades covered under the Terms of Business for Exchange-Traded Derivatives.

It is our responsibility to ensure these covered trades are sufficiently collateralized and that the bank is not subjected to unnecessary credit risk.


Our primary role is to ensure all the firm’s margin calls are answered and agreed (where supported by underlying documentation/MTM data), and to respond to all our counterparties’ calls in good faith. This often requires interfacing with several key groups such as:

  • Sales/Trading Desk/ Account Management.

  • Credit: Credit set limits for counterparty exposure/upfront for Collateral – oversee trading activities.

  • PB Risk & Futures Risk.

  • Legal /Documentation: Negotiate Terms of Business for Exchange Traded Derivatives, IPBA Agreements.

The successful candidate joining the Margin Management team is doing so at a key juncture where the organization globally, is intensely involved in an operational efficiency program and UMR readiness planning. Therefore, subject to ensuring BAU activities are being completed to the levels and competencies expected, the incoming candidate will be given ample opportunity to assist and drive (where possible) the change initiative.

As a member of the Collateral Operations team, the candidate would be required to get involved with all parts of the daily margin process. This would involve liaising directly with clients to answer any queries as well as with all internal stakeholders within the Collateral business areas. A good knowledge of both areas would be beneficial.

Responsibilities:

  • Account profiling including margin templates.

  • Provide governance and oversight to all day to day margin processes. Working closely with key stakeholders to ensure the day to day collateral process is conducted in a controlled and efficient manner.

  • Prepare and present KPI’s and MIS reporting.

  • Liaising with other internal departments including Onboarding, Risk, Client Service and Account Management.

  • Involvement in ad hoc projects for new processes or industry initiatives like UMR, SEC, SFTR.

Core Skills:

  • Previous experience within Collateral Management beneficial

  • Excellent communications skills.

  • Ability to work under pressure in a team environment.

  • Ability to identify gaps in a process and to question tasks performed.

  • An appreciation of operational risk and internal audit processes.

  • Degree educated or equivalent.

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Job Band:

H6

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: Prime Brokerage Collateral Operations Analyst

LOB: Collateral Operations

Corporate Title: Officer

Location: London

Here in our London office, an opportunity has become available in our Collateral Operations business; specifically within the Prime Brokerage team. Collateral Operations sits within Global Market Operations (GMO) and is responsible for mitigating the credit exposure created by the day-to-day trading of Futures and Options across all Bank of America entities. Trading with all kinds of clients (Investment Banks, Hedge Funds, listed companies, Governments) upstream systems mark trades covered under the Terms of Business for Exchange-Traded Derivatives.

It is our responsibility to ensure these covered trades are sufficiently collateralized and that the bank is not subjected to unnecessary credit risk.


Our primary role is to ensure all the firm’s margin calls are answered and agreed (where supported by underlying documentation/MTM data), and to respond to all our counterparties’ calls in good faith. This often requires interfacing with several key groups such as:

  • Sales/Trading Desk/ Account Management.

  • Credit: Credit set limits for counterparty exposure/upfront for Collateral – oversee trading activities.

  • PB Risk & Futures Risk.

  • Legal /Documentation: Negotiate Terms of Business for Exchange Traded Derivatives, IPBA Agreements.

The successful candidate joining the Margin Management team is doing so at a key juncture where the organization globally, is intensely involved in an operational efficiency program and UMR readiness planning. Therefore, subject to ensuring BAU activities are being completed to the levels and competencies expected, the incoming candidate will be given ample opportunity to assist and drive (where possible) the change initiative.

As a member of the Collateral Operations team, the candidate would be required to get involved with all parts of the daily margin process. This would involve liaising directly with clients to answer any queries as well as with all internal stakeholders within the Collateral business areas. A good knowledge of both areas would be beneficial.

Responsibilities:

  • Account profiling including margin templates.

  • Provide governance and oversight to all day to day margin processes. Working closely with key stakeholders to ensure the day to day collateral process is conducted in a controlled and efficient manner.

  • Prepare and present KPI’s and MIS reporting.

  • Liaising with other internal departments including Onboarding, Risk, Client Service and Account Management.

  • Involvement in ad hoc projects for new processes or industry initiatives like UMR, SEC, SFTR.

Core Skills:

  • Previous experience within Collateral Management beneficial

  • Excellent communications skills.

  • Ability to work under pressure in a team environment.

  • Ability to identify gaps in a process and to question tasks performed.

  • An appreciation of operational risk and internal audit processes.

  • Degree educated or equivalent.

Bank of America

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

Learn more about this role

Full time

JR-21066809

Band: H6

Manages People:

Manager:

Talent Acquisition Contact:

Katie Whitehead

Referral Bonus:

0

Street Address

Primary Location:
London, , EC1A 1HQ