Collateral Management Specialist, Asset Oversight

3 weeks ago

Telford, Telford and Wrekin, United Kingdom Phoenix Group Holdings Full time

Compensation and Perks: £38,000 – 45,000 (dependent on experience) + asset management incentive, outstanding pension plan, private health coverage, electric vehicle initiative, 38 days of leave including Bank Holidays (pro-rated), plus 12x salary life insurance, career sabbaticals, income protection, 3x volunteering days, and additional benefits.
Reporting Structure: Reports to the Collateral Manager.
Employment Type: Permanent.
Work Location: This position will be based in either our Wythall / London / Telford office, with a hybrid work model involving time spent at home and in the office, along with some travel between our Phoenix locations.

We are excited to present a remarkable opportunity to join Phoenix Group as a Collateral Management Specialist within our Middle Office team, which is part of the Asset Management division.

About Us:

Our aim is to be the premier workplace for our 7,800 employees.

We are the UK's leading long-term savings and retirement provider, offering a diverse range of products through our renowned brands, including Standard Life, SunLife, Phoenix Life, and ReAssure. Approximately 20% of the UK population holds a pension with us. As a FTSE 100 company, we are addressing critical challenges such as transitioning our portfolio to net zero by 2050, and we are committed to ongoing progress.

Role Context

The Middle Office serves as a vital support function for the Asset Management division at Phoenix. It holds extensive responsibilities, ensuring operational control of risk management activities, supporting the Group and AM governance framework, and delivering investment reporting.

Position Overview

This role presents an excellent opportunity for a seasoned middle office professional with expertise in derivatives and collateral management. You will actively engage in process enhancements and operational model improvements to establish industry-leading systems and controls across various asset and fund categories. Additionally, you will contribute to the functional integration of legacy Phoenix risk carriers across procedures and platforms.

The primary focus of this position is on collateral management for both policyholder and shareholder assets. You will serve as the dedicated product support for various Front Office functions, primarily collaborating with the ALM (Asset Liability Management) teams on collateral activities. Furthermore, you will provide daily operational support and guidance to the Portfolio Implementation and Manager Oversight teams.

Key Responsibilities

Collateral Management Oversight - Actively participate in the team to implement the collateral oversight model through operational supervision and dispute resolution. System Onboarding – Collaborate with third-party providers to integrate new system capabilities and establish internal processes to leverage available tools. Risk and Compliance – Develop and enhance processes and procedures to ensure that Collateral Management adheres to internal and external requirements (mandate-driven/regulatory).
Engage in projects aimed at advancing the collateral management model across the organization. Supervise securities lending operations. Assist the organization in fulfilling regulatory obligations. Support the onboarding of new collateral agreements (GMRA / ISDA / CSA / CSD). Facilitate the integration of new business lines resulting from closed book acquisitions, open book, and BPA activities. Maintain a core understanding of derivatives and CSA structures. Comprehend UMR and the implications of Regulatory Initial Margin.

Relationship Management – Internal Functions: Markets & Products, Portfolio Implementation, AM Manager Oversight, Middle Office, Cash Management, Investment Operations, Risk Management, & Technology Development Team External Parties: External Portfolio Managers, Third Party Administrators, Platform Service Providers, Custodians, Clearing Brokers.

Candidate Profile

Personal Attributes & Skills

Proactive and independent worker with a strong sense of ownership, capable of delivering results and meeting deadlines under pressure. Detail-oriented working style with high standards for quality. Strong analytical and problem-solving abilities with comprehensive financial insight. Excellent organizational and project management capabilities. Proficient in preparing well-structured, clear, consistent, and client-focused presentations and management reports. Adaptable and visionary in modifying processes in a dynamic environment. Effective communication skills, with the ability to collaborate across a diverse range of stakeholders and maintain strong relationships. Proficient in MS Excel, Word, PowerPoint, and ideally the Aladdin platform (advanced Excel skills preferred or willingness to learn).

Experience / Knowledge

Essential

Experience working with derivative products/securities from a middle office or back office perspective, including understanding pre-trade governance – strategy / investment guidelines / mandates, operational activities – trade enrichment / validation, transaction reporting, settlement, reconciliations, and interaction with external stakeholders such as custodians and clearing brokers.

Desirable

Broad knowledge of the trade lifecycle of derivatives, including derivative documentation (ISDA / CSA and central clearing agreements, specifically novations and porting). Exposure to project/delivery environments, such as onboarding funds/legal documentation, amendments in structures, or changes in margining methodology.

We value the whole you.

We are dedicated to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience differs from what we've advertised and you believe you can contribute value to the role, we would love to hear from you.

If you require any adjustments to the recruitment process, please inform us so we can assist you in performing at your best.

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