Analyst - Collateral Optimisation Unit
Salary 10 LPA- 11LPA
- 25 May 2017
Business Area: Investment Bank
Primary Location/s: Mumbai
IAR/Regulated Role: No
Job Title: Analyst - COU
Corporate Grade: BA4
COU’s primary goal is to centrally optimize the placement of the firm’s collateral assets on behalf of business Group. Through various trading strategies and cost allocation methods, COU seeks to minimize funding costs and promote efficient balance sheet usage. The team also spearheads the oversight and supervision of regulatory initiatives across the firm with regards to collateral.
Overall purpose of role: The COU team in Mumbai consists of Un Cleared Derivative Swap Margin and Global Netting Agreement (GNA) Team
The Unclear derivative team supports the development & execution of a key regulatory initiative: margin for the non-centrally cleared derivatives. The initiative stems from a set of G20 financial reforms and will ensure that the cmpany is compliant with the new industry regulatory requirements
The Global Netting Agreement (GNA) is the Firm’s market leading cross-product netting capability. It is a proprietary multi- and single-strategy optimised margin framework, which offsets trading strategies and ideas for maximum efficiency of capital deployment. Encompassing an extensive breadth of margin products, our solution set delivers a waterfall approach for portfolios and single positions.
Key Accountabilities and Skills required:
o Key specific accountabilities: The Team in Mumbai is responsible for :
§ Daily monitoring, review of margin and changes in risk and portfolio composition for Uncleared Swap Margin clients.
§ Understand deeply and contribute to build out of the Sensitivity based Margin Methodology in practice from ISDA for Uncleared Margin products.
§ Work closely with the Un cleared Margin programme team to research, analyse and document key business requirements
§ Perform daily analysis on huge Margin movements in Clients portfolio by understanding the various methodologies /Strategies like Convert Arb, ADTV, IR, FX, Bond/CDS and give approval to ops to issue the margin calls/ reports to clients
§ Perform risk & margin analysis by working with a range of stakeholders internally & externally
§ Create communication & presentation materials going through analysis, key requirements & findings for multiple levels of stakeholders
§ Liaise with technology teams in order to drive functional specifications and delivery.
§ Develop, enhance and understand the internal tools developed b the team to manage daily margin signoffs and analysis. The tools are mainly on SQL based dashboards.
o Stakeholder management and leadership:
§ This is a high-profile front office position which will require a high level of engagement with a variety of stakeholders across the firm, including Trading, Sales, Risk, Legal, QA, Technology and Operations.
§ Need to proactively manage projects related to Un cleared Derivative Margin rollout actively working with IT, Ops and Risk teams.
o Decision making and problem solving:
§ Liaise with Prime Services Risk Owners, Operations, Credit Risk, Legal and IT on daily issues and ensure the fixes are implemented or interim solutions are provided before agreed SLAs of Client margin calls, else instruct teams to communicate clients for the delays in Margin Calls. Also direct teams with possible solutions to the fixes and guide them how to implement them
§ Proactively provide inputs and suggestions to improve processes.
o Risk and Control: All colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Policies and Policy Standards
Your Skills and Qualifications will include:
o Graduate or MBA/IT. CFA/FRM finance courses are an advantage
o Works in a risk relevant role. Should have good product knowledge - Rates, FX , Equities and Credit.
o Methodologies including Equity Long/Short, Convertible Bond Arbitrage, ADR/ORD trading, etc along with a good working knowledge of other asset class portfolio margin methodologies.
o Understanding of OTC derivatives products and related margin methodologies, derivatives pricing, risk including value-at-risk, historical simulation and VCV (variance co-variance).
o Understanding of first and second order risk sensitivities
o Excellent verbal and good written communication with ability to produce business requirements specifications.
o Highly analytical and numerate with exceptional problem solving abilities
o Advanced Excel (Pivot tables, Macros), MS Access/SQL Language with an intermediate understanding of databases, inclination to learn new IT Skills like Qlikview. Coding ability in functional languages such as R, Python, will be an added advantage.
o Familiar with EMIR, Dodd-Frank, specifically in relation to margin for non-centrally cleared derivatives
o Well organised with good time management skills and the ability to meet tight deadlines and prioritise tasks.
o Team player with an ability to quickly build credibility
o Able to multi-task and prioritise accordingly in a highly pressurised environment.
o Detailed and meticulous, consistently delivering a high level of accuracy and attention to detail with high quality output.Apply