Collateral Management Specialist, Asset Oversight

3 weeks ago

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

Salary and Benefits: £38,000 – 45,000 (subject to experience) + asset management bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday including Bank Holidays (pro-rated), plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.

Reporting to: Collateral Manager

Job Type: Permanent

Location: This role will be based in either our Wythall / London / Telford office, with time spent between home and the office, and some travel between our Phoenix offices.

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

About Us:

At Phoenix Group, we strive to be the best workplace for our 7,800 colleagues.

As the UK's largest long-term savings and retirement organization, we provide a diverse range of products through our renowned brands, including Standard Life, SunLife, Phoenix Life, and ReAssure. Approximately 1 in 5 individuals in the UK holds a pension with us. We are a FTSE 100 company addressing significant challenges such as transitioning our portfolio to net zero by 2050.

Role Overview:

This position is ideal 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 classes. Additionally, you will contribute to the functional integration of legacy Phoenix risk carriers across procedures and platforms.

The primary focus of this role is on collateral servicing for both policyholder and shareholder assets. You will serve as the dedicated product support for various Front Office functions, particularly the ALM (Asset Liability Management) teams regarding collateral activities. Furthermore, you will assist Portfolio Implementation and Manager Oversight teams on a daily basis, providing essential operational input and guidance.

Key Responsibilities:

  • Collateral Oversight: Collaborate as an integral team member to implement the collateral oversight model through operational management and dispute resolution.
  • System Onboarding: Partner with third-party providers to integrate new system capabilities and establish internal processes to leverage available tools.
  • Risk and Control: Develop and enhance processes and procedures to ensure Collateral Management meets internal and external requirements (mandate-driven/regulatory).
  • Engage actively in projects to further refine the collateral management model across the organization.
  • Oversee securities lending activities.
  • Assist the business 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.
  • Possess a core understanding of derivatives and CSA structures.
  • Understand UMR and the implications of Regulatory Initial Margin.
  • Manage Key Relationships: Foster relationships with internal functions such as Markets & Products, Portfolio Implementation, AM Manager Oversight, Middle Office, Cash Management, Investment Operations, Risk Management, and Technology Development Team, as well as external parties including External Portfolio Managers, Third Party Administrators, Platform Service Providers, Custodians, and Clearing Brokers.

What We Seek:

Personal Attributes & Skills:

  • Self-motivated and independent worker with a strong sense of ownership, capable of delivering results and meeting deadlines under pressure.
  • Diligent work ethic with meticulous attention to detail and high standards for quality.
  • Exceptional analytical and problem-solving skills with a comprehensive financial perspective.
  • Excellent organizational and project management abilities.
  • Strong skills in preparing well-structured, clear, consistent, and client-focused presentations and management information reports.
  • Agility and foresight to adapt processes in a dynamic environment.
  • Effective communication skills, with the ability to collaborate across a diverse range of stakeholders and maintain productive 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, operational activities, and external stakeholder interactions.
  • Desire to learn and enhance technical skillset.
  • Self-starter, capable of working autonomously.

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 and changes in margining methodology.

We value the whole you.

We are dedicated to ensuring that everyone feels accepted and welcome, and we encourage applicants from all backgrounds. If your experience differs from what we've advertised but you believe you can add 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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