girl looking into her desktop
Back to search results

Ops Professional MKTS: Collateral Margin AVP Futures and Options

, , United Kingdom

Job Description:

Job Title: Ops Professional MKTS: Collateral Margin AVP Futures and Options

Corporate Title: Assistant Vice President

Location: London

Role Description:

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 BAML 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 as a whole is not subjected to unnecessary credit risk.

Margin Management:

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 a number of key groups such as:

• Sales/Trading Desk/ Prime Brokerage team.

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

• Legal /Documentation: Negotiate Terms of Business for Exchange-Traded Derivatives.

Owing to our risk management mandate Collateral Operations receives plenty of attention from across the firm, especially in times of market volatility. It is, therefore, essential that we understand the risks involved in failing to perform our BAU activities.

Responsibilities will include but not limited to:

• Develops and delivers against the department strategy to maximize client service, efficiency, risk management and team engagement.

• Ensures that appropriate controls, procedures and supervision are in place to mitigate operational and counterparty credit risk.

• Ensures global consistency and best practice is achieved and maintained where practical by coordinating with functional teams in Tokyo, Singapore, Chicago, Hyderabad and Gurgaon.

• Develops key relationships with other support functions as well as front office teams.

• Demonstrates a commercial mind-set when establishing or interpreting strategy, ensuring costs and other challenges are met.

• Understands the implication of regulation, policies and controls issues relating to their area and prioritizes them in a timely manner.

• Continually seeks to improve effectiveness and efficiency of their remit and encourages innovation from others within their team or function.

The Team:

Specifically, the Collateral Services Operations team is accountable for:

  • Helping to ensure compliance with global regulations governing the function
  • The execution of all terms in associated legal documentation as it relates to the performance, distribution and settlement of margin calls
  • The safekeeping of collateral related assets
  • The reconciliation of all collateral related activity inclusive of related client queries
  • Provide direct support to all Sales and Trading teams as it relates to margin
  • Maintain frequent and direct interaction with associated functions such as Credit Risk, Product Control, Balance Sheet and Liquidity Management and the various Regulatory teams
  • Ensure that a solid communication between Front Office (Trading &Sales), Risk Management, Legal, Settlement Units, IT and Product Control is enabled and improved to increase efficiency of the function and benefit for the whole organization
  • Development of the strategy, target operating model and department objectives and ensuring these align to those of Global Markets, Clients and Stakeholders
  • Represent the Bank internally as well as externally in industry working groups and client meetings

Core Skills:

  • Proven leadership abilities
  • Proficient Excel Skills
  • Understanding of relational databases and/or process flows
  • Exceptional communication skills
  • Ability to meet and set deadlines
  • Ability to handle high pressure situations
  • Ability to perform multiple tasks
  • Ability to delegate tasks
  • Ability to make complex decisions in high pressure scenarios
  • Organizational skills with special emphasis on the ability to prioritize responsibilities
  • Detail Orientation - specifically the ability to recognize unusual flows/triggers for collateral in agreements and new trade structures
  • Experience of Investment Banking Products & Processes

Competencies:

  • Strategic Thinking: Strategic vision, Business knowledge, Innovation & Creativity
  • Business Results: Client relationships, Analytical ability, Execution, Change leadership
  • Personal Effectiveness: Communication, decisiveness, Energy & drive, courage, character, works to achieve success.

Desirable:

  • Extensive Knowledge of OTC Derivatives and / or Collateral Management
  • Numerate degree

System Skills:

  • Competent with MS Core Products: Word, Excel & PowerPoint.
  • Competent OR have working knowledge of industry applications: Margin Sphere, Arcadia Soft, Tri Optima, etc.

Nice to have:

• Familiarity with markets products ideally in more than one asset class.

• Product Knowledge: Collateral Management, Client Valuations.

• Knowledge of structured business analysis (e.g. 6 Sigma).

• A good understanding of financial markets documentation (ISDA, GMRA IFEMA, PSA).

• Systems skills in MS Project and Visio.

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:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: Ops Professional MKTS: Collateral Margin AVP Futures and Options

Corporate Title: Assistant Vice President

Location: London

Role Description:

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 BAML 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 as a whole is not subjected to unnecessary credit risk.

Margin Management:

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 a number of key groups such as:

• Sales/Trading Desk/ Prime Brokerage team.

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

• Legal /Documentation: Negotiate Terms of Business for Exchange-Traded Derivatives.

Owing to our risk management mandate Collateral Operations receives plenty of attention from across the firm, especially in times of market volatility. It is, therefore, essential that we understand the risks involved in failing to perform our BAU activities.

Responsibilities will include but not limited to:

• Develops and delivers against the department strategy to maximize client service, efficiency, risk management and team engagement.

• Ensures that appropriate controls, procedures and supervision are in place to mitigate operational and counterparty credit risk.

• Ensures global consistency and best practice is achieved and maintained where practical by coordinating with functional teams in Tokyo, Singapore, Chicago, Hyderabad and Gurgaon.

• Develops key relationships with other support functions as well as front office teams.

• Demonstrates a commercial mind-set when establishing or interpreting strategy, ensuring costs and other challenges are met.

• Understands the implication of regulation, policies and controls issues relating to their area and prioritizes them in a timely manner.

• Continually seeks to improve effectiveness and efficiency of their remit and encourages innovation from others within their team or function.

The Team:

Specifically, the Collateral Services Operations team is accountable for:

  • Helping to ensure compliance with global regulations governing the function
  • The execution of all terms in associated legal documentation as it relates to the performance, distribution and settlement of margin calls
  • The safekeeping of collateral related assets
  • The reconciliation of all collateral related activity inclusive of related client queries
  • Provide direct support to all Sales and Trading teams as it relates to margin
  • Maintain frequent and direct interaction with associated functions such as Credit Risk, Product Control, Balance Sheet and Liquidity Management and the various Regulatory teams
  • Ensure that a solid communication between Front Office (Trading &Sales), Risk Management, Legal, Settlement Units, IT and Product Control is enabled and improved to increase efficiency of the function and benefit for the whole organization
  • Development of the strategy, target operating model and department objectives and ensuring these align to those of Global Markets, Clients and Stakeholders
  • Represent the Bank internally as well as externally in industry working groups and client meetings

Core Skills:

  • Proven leadership abilities
  • Proficient Excel Skills
  • Understanding of relational databases and/or process flows
  • Exceptional communication skills
  • Ability to meet and set deadlines
  • Ability to handle high pressure situations
  • Ability to perform multiple tasks
  • Ability to delegate tasks
  • Ability to make complex decisions in high pressure scenarios
  • Organizational skills with special emphasis on the ability to prioritize responsibilities
  • Detail Orientation - specifically the ability to recognize unusual flows/triggers for collateral in agreements and new trade structures
  • Experience of Investment Banking Products & Processes

Competencies:

  • Strategic Thinking: Strategic vision, Business knowledge, Innovation & Creativity
  • Business Results: Client relationships, Analytical ability, Execution, Change leadership
  • Personal Effectiveness: Communication, decisiveness, Energy & drive, courage, character, works to achieve success.

Desirable:

  • Extensive Knowledge of OTC Derivatives and / or Collateral Management
  • Numerate degree

System Skills:

  • Competent with MS Core Products: Word, Excel & PowerPoint.
  • Competent OR have working knowledge of industry applications: Margin Sphere, Arcadia Soft, Tri Optima, etc.

Nice to have:

• Familiarity with markets products ideally in more than one asset class.

• Product Knowledge: Collateral Management, Client Valuations.

• Knowledge of structured business analysis (e.g. 6 Sigma).

• A good understanding of financial markets documentation (ISDA, GMRA IFEMA, PSA).

• Systems skills in MS Project and Visio.

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-21070410

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Katie Whitehead

Referral Bonus:

0

Street Address

Primary Location:
London, , EC1A 1HQ