Derivatives Collateral Specialist
7 days ago
As a Derivatives Collateral Specialist at Bank of America, you will be responsible for managing the margining process for OTC, Repo Derivatives & Foreign Exchange businesses and Repo agreements. This includes verifying daily margin calls, monitoring collateral balances, and reconciling discrepancies.
You will also be responsible for performing security optimization, journal processing, liquidity, and regulatory reporting. Additionally, you will maintain data related to points of contact internal and external to effectively resolve disputes.
We are looking for an individual with excellent communication skills, both verbal and written. You should have strong knowledge of investment banking, capital markets, and derivatives. Logical and analytical skills are essential, as well as the ability to prioritize daily workload and work accurately under pressure.
Key Responsibilities:
- New agreement setups in margining application to facilitate daily exposure feed based on Agreement terms
- Verification of call details originating from internal applications and exchange margin call notices with clients
- Follow-up on margin calls due for payment where we do not have receipt of counterparty confirmation
- Verification of settlement instructions before releasing cash/securities as collateral
- Month end interest settlements with clients on collateral balances
- Daily reconciliation, investigation, and resolution of margin call disputes/discrepancies
- MIS, reporting of operational and trading exposures to management
- Maintenance of data in relation to points of contact internal and external and additional information necessary to effectively and efficiently resolve disputes
Requirements:
* Education: Graduation/PG
* Experience Range: 8+ Years
* Foundational skills:
- Excellent communication skills (both verbal and written)
- Flexible to work in night shifts
- Strong knowledge of investment banking, capital markets & Derivatives
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