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Assistant Manager – Front Office Collateral Services

State Street

State Street is a leading provider of financial services to institutional investors around the world.

Who we are looking for:

We are looking for a candidates with experience in Collateral Management to reduce credit risk by exchanging cash/securities with counterparties. Should have knowledge in calculations based on MTM and results in sending Margin calls. The position will contain a basic training to carry out activities by working both remotely from home and from office.

Why this role is important to us:

Collateral management main focus is to reduce credit risk by exchanging eligible cash or securities between counterparties. The daily calculations are based on MTM of the underlying trades and results in sending Margin Calls, which in turn lead to agreeing transfers. Based on the agreements between our clients and the counterparties the Collateral team in India ensures that all the exposures are fully collateralized and the agreed collateral transactions settle as agreed..

What you will be responsible for:

As Senior Associate – Assistant Manager you will:

  • Margin call processing – Process daily margin calls daily for all agreed clients, who will include banks and fund clients and both cash and security margin calls.
  • Reconcile collateral balances, investigate and solve discrepancies; be the main point of contact/ escalations
  • Fails investigation – Checking the cash non-receipt reports and the custody settlement system (MCH) and initiating correspondence with the client
  • Reporting – Generate a variety of reports, which includes client and internal reporting from an access database and Protocol.
  • Portfolio reconciliations – Completing any daily or ad hoc manual portfolio reconciliations.
  • Interest Processing – Month end interest statement generation, settling interest, updating interest agreements, and updating and validating interest rates.
  • Ensure that the team meets accuracy and timeliness criteria
  • Carry out responsibilities fairly and impartially; create and maintain an engaged work environment
  • Assist in developing and implementing new workflow approaches and methods as well as system enhancements
  • Collaborate with internal and external groups to identify, analyze and proactively resolve issues
  • Be the key point of contact for internal/external clients
  • Hold authority to hire, discipline, control work and terminate employment for direct reports and broader team as needed
  • Hold authority to promote, increase salary and bonus for direct reports and broader team as needed
  • Provide coaching and development opportunities to staff
  • Manage Performance Priorities and development plans
  • Ensure SOPs/regulations are met and escalate as needed
  • Comprehensive and demonstrated knowledge of overall process and operating model
  • Identify all risk issues, breaches and suspicious transactions and acts in accordance with the ‘risk’ escalation chain and operating procedures
  • Implement and communicate to staff risk framework changes and/or escalation chain changes
  • Perform related duties as assigned

What we value:

These skills will help you succeed in this role:

  • Communicates effectively and accurately in English
  • Strong leadership, management, and organizational skills
  • Ability to work under pressure and to tight deadlines
  • Team player
  • Ability to work on own initiative
  • Very good management skills
  • Self- motivated, flexible, personable
  • Good working knowledge of software packages, particularly Microsoft Excel
  • Good interpersonal skills and an understanding of the rudimentary aspects of the global financial industry and also to Collateral Management would be advantageous

Education & Preferred Qualifications:

  • Graduate and above preferably in Finance
  • B.COM, BBM/BBA. MBA (Finance), M.COM or any degree related to Finance or Commerce

Additional requirements:

• Certification on NCFM / CISI (Chartered Institute for Securities & Investment)

• Knowledge on Macros, SQL & MS Access Database queries

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

Discover more at StateStreet.com/careers

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Assistant Manager  – Front Office Collateral Services

To apply for the job click here

Contact us

State Street

State Street is a leading provider of financial services to institutional investors around the world.

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