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Job Opening details:-
Company Name :- State Street
Position Name :- Assistant Manager – Front Office- Collateral Services
Company Location :- Hyderabad, Telangana
Job Category :- Back Office jobs
Full Job Description :-
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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