OTC Collateral Management Officer

3 weeks ago

London, United Kingdom CIBC Full time

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At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

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**Job Description**:
BUSINESS UNIT DESCRIPTION

The role is within Capital Markets Operations in the UK, specifically supporting the business and working closely with Toronto Operation team in providing a satisfactory service to our business partners and clients. As a global operations team we are responsible for mitigating credit risk against Canadian Imperial Bank of Commerce (CIBC) by collateralising OTC derivatives products specified in both a non-regulatory and regulatory Credit Support Annex.

A Credit Support Annex, or CSA, is a legal document negotiated between CIBC and their clients, which regulates credit support (collateral) for derivative transactions. Essentially, a CSA defines the terms or rules under which collateral is posted or transferred between counterparties to mitigate the credit risk arising from "in the money" derivative positions.

JOB PURPOSE SUMMARY

The operations officer will be accountable for the timely and accurate handling of all OTC Derivative Collateral processes in London to ensure all intra exposure risk is managed in a timely and accurate manner.

KEY RESPONSIBILITES
- Manage margin calls issuance process for all regions
- Agree and process incoming margin calls
- Generate preliminary and final funding numbers for money markets desk
- Approve payments to ensure timely settlements within currency cut off times
- Monthly process of OTC cash collateral Interest
- Involvement in Portfolio Reconciliation Process
- Triparty account monitoring
- Oversight of front to back reconciliation
- Contribute to collateral projects and initiatives as SME

CROSS-FUNCTIONAL RELATIONSHIPS
- Regular contact with internal CIBC employees, teams and departments at the peer level to obtain and provide information and respond to requests
- Regular contact with external Financial Institutions and Clients to respond to queries and obtain information as required to complete assigned work

SKILLS AND EXPERIENCE REQUIRED
- In-depth understanding of margin/collateral processes and collateral portfolio reconciliations (Variation Margin/Initial Margin)
- Excellent understanding of OTC Derivatives
- Previous experience of Colline / Euroclear / Clearstream / LCH / Access edge (Bony Mellon Portal/NEXEN)
- Experience with Tri-Resolve, SWIFT, Apex and strong Excel Skills
- Ability to prioritize requirements
- Strong Interpersonal Skills
- Experience in dealing directly with clients both verbal and written

What you need to know
- You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit

Job Location

150 Cheapside, London, UK

Employment Type

Regular

Weekly Hours

35

**Skills**:
Accountable, Business, Capital Markets, Credit, Credit Risks, Derivatives, Financial Institution Management, Interpersonal Communication, Legal Practices, OTC Derivatives, Payments, People Management, Prioritization, Reconciliations, Taking Initiative

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