Trainee - Client Margin & Collateral Control - Others - London, United Kingdom
1 month ago
The CFM team handles middle and back office functions for the (PSC) business lines, which include prime services, commodity clearing and global execution services.
The CFM team manages the operational, administrative, financial market processing, and clearing for over 80 exchanges globally. The team is held to the highest of standards, ensuring the client requirements are prioritized equally against market exposure. In addition, the CFM team guarantees the control and security of transaction processing in accordance with current financial legislation.
• The execution and clearing controls of all operations performed by FO and clients
• The first level of control on operations and "quality" certification
• Customer Relationship Management, KYC, and all support during the life cycle of client trading activity
• Keep clients informed of all regulatory changes impacting operations
Summary of the key purposes of the role
• To Manage the client facing and production day to day account maintenance for your assigned group of clients on world-wide markets as a including the following tasks.
• Margin Calls - issuing, dispute handling
• Cash breaks - Input, verification, break resolutions
• Balance conversions management and prefunding non deliverable currencies
• Internal cash Movements
• Collateral management - booking and control management
• Cash adjustments - review and process
• SSI KYC check/ review and request setup
• Clear lines of communication with clients and stakeholders
• Ensure communication of daily client margin calls, manage cash and collateral movements, and resolve any cash breaks
• Track client margin calls and ensure coverage daily
• Monitor and escalate aged client margin calls
• Address any issues related to the delivery of daily client margin call files/reports
• Receive and manage client margin disputes
• Ensure that all queries and problems from clients are resolved promptly and efficiently
• Able to meet strict cash & collateral deadlines in a high-volume environment with accuracy
• Build client relationships through day to day interactions and prompt issue resolution
Summary of responsibilities
Operational
• Point of contact for clients for margin & cash processing
• Monitor and communicate with clients on margin issuance, cash payments, conversions, SSI's and manage associated client queries
• Control client booking in relevant product databases / tools
• Fully understand margin booking rules and their impact on risk to firm during trade lifecycle
• Fully Understand SSI structure, static, etc. and interest impact of margins/balances
Technical
- Project work to improve process flows and automation
- Increase levels of efficiency, whilst reducing risk by continuous review of procedures, processes and through analysing system capabilities and proposing and documenting prospective developments
- Look up initial margins on a website or do a simple what-if in GMI
Control
- Maintain up to date documented departmental procedures
- Ensure Financial Crime prevention and Compliance procedures (Compliance manual) are applied enforced and followed
- Review all daily control e-mails to ensure that any breaks, outages, or issues are resolved for all of your clients on a daily basis.
Profile required
Competencies
Product Coverage
• In-depth knowledge of all products traded by Societe Generale clients
• Listed Derivatives (Futures & Options)
• Working knowledge of FX, OTC, Equities and Fixed Income
• Understanding of market risk associated to trading activity
• Knowledge of how initial margins are calculated for the asset classes covered
• Understanding of the regulatory rules and customer funds protection rules in the booking entities they are covering
• Previous experience of Client Service, Trade Support, dealing with trade breaks, exchange reconciliations, or similar client-facing Middle Office experience advantageous
Technical/Systems knowledge
• Understanding of the reconciliation tools and process
• Strong Microsoft Office package knowledge is essential (Excel, Visio PowerPoint)
• Good adaptability to new systems and ability to propose new ideas of how workflow can be managed
Interpersonal Skills
• Excellent interpersonal skills; able to communicate convincingly at all levels within the bank
• Attention to detail and promote a think outside the box mentality
• Strong written documentation abilities
• Coordination skills (across and between the teams in OPER and the business)
• Understanding of investment banking market activities
• Compliant with confidentiality requirements
• Self-Motivated - Ability to work autonomously and be responsible for following matters through to completion
• Solution-focused, service-oriented and proactive
• Team player, open to share knowledge
• Strong risk culture and reliable professional conduct
• Always have a client centric approach
Why join us
People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It's personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like "hard work" and "dedication" together with "community" and "respect" has enabled us to work collaboratively and build our future together. We call this Team Spirit and it's what makes us different. It's what makes you different.
Business insight
If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Société Générale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender identity.
We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.
Reference: 24000KZG
Entity: SG CIB
Starting date: 2024/10/28
Publication date: 2024/08/21
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