Manager, OTC Derivatives, Business Operations

Montreal Exchange; Montreal; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading company in financial services is seeking a Manager for OTC Derivatives Business Operations. This role involves leadership in clearing and settlement processes, client relationship management, and operational excellence. Candidates should have extensive experience in financial operations and a strong understanding of derivatives. Join a dynamic team focused on innovation and economic growth.

Qualifications

• 10+ years in operations, clearing house, or collateral management.
• 5+ years in a leadership role.
• Deep understanding of derivatives and settlements.

Responsibilities

• Manage CDCC Collateral Web Portal and member clearing services.
• Ensure client satisfaction during the clearing session.
• Lead onboarding, testing, training, and documentation.

Skills

Client Centricity

Problem Solving

Communication

Organizational Skills

Financial Acumen

Education

University degree in Finance

Additional financial market certifications

Tools

Google Suite

Excel

Job description

Venture outside the ordinary - TMX Careers

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we're connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.

Ready to be part of the action?

Job Summary

Reporting to the Director, CDCC Business Operations, the Manager, OTC Derivatives, Business Operations provides leadership, direction, and relationship management support for Canadian Derivatives Clearing Corporation (CDCC) Clearing Members. The role includes accountability for:

1. Member Clearing Services, including management of the CDCC Collateral Web Portal;
2. Clearing & Settlement of transactions and Collateral Management;
3. Management of Banking, Custodian, and Third-party relationships for execution and downstream reporting.

This position involves direct staff management, including planning, assigning, and directing workflow. The Manager is also responsible for attracting, developing, training, and managing team performance.

The role requires expertise in Clearing & Settlement of Derivative products, especially Total Return Swaps (TRS). The Manager ensures client satisfaction during the CDCC North American Clearing Session and identifies opportunities to add value through new products and services based on current issues, processes, and long-term needs. The Manager's availability is critical for managing daily operations, policy adherence, incident management, and escalation to senior internal and external partners.

Key Accountabilities

Client Centricity & Strategic Partnerships

• Act as the central contact for clients, providing ongoing solutions and support;
• Ensure effective communication and support to traders, inter-dealer brokers, and Operations teams;
• Build strong relationships with banks, depositories, and third-party vendors, adhering to SLAs;
• Promote TRS awareness across Corporate Shared Services;
• Lead and support client activities such as onboarding, testing, training, and documentation;
• Engage effectively with stakeholders at all levels, including Participants, Members, Issuers, Banks, Legal, and Regulatory bodies.

Operational Excellence & Resilience

• Provide leadership for complex technical and analytical requirements related to Collateral Management, Clearing, Banking, and Settlements for OTC Derivatives, including TRS and corporate actions;

Monitor daily activities and deadlines for transactions to meet intra-day and end-of-day financial obligations;

• Collaborate with other managers to ensure compliance with participation requirements, reconciliations, and reporting;
• Represent Business Operations on relevant committees;
• Identify and address issues impacting operations, exercising sound judgment;
• Ensure successful completion of key processes, including Business Continuity and Disaster Recovery plans, incident management, and escalation procedures;
• Oversee adherence to internal procedures, rules, and controls;
• Provide professional recommendations based on industry practices;
• Support or delegate for the Business Operations Management as needed;
• Foster a collaborative, innovative environment and mentor team members for growth and succession planning;

Must haves :

• A proven track record of building trusted partnerships in complex financial organizations;
• 10+ years of progressive experience in operations, clearing house, or collateral management, including 5+ years in a leadership role;
• Deep understanding of derivatives, corporate actions processing, and settlements;
• Excellent organizational skills, ability to prioritize, act decisively under pressure, and pay attention to detail;
• Strong problem-solving skills and risk mitigation capabilities;
• Proficiency with Google Suite, Excel, and other desktop applications;
• Flexibility to work in a time-sensitive environment with tight deadlines.

Professional Attributes :

• Ability to navigate complex stakeholder environments;
• Exceptional communication and influencing skills;
• Strong financial acumen and business partnership skills;
• Strategic mindset with practical execution skills;
• Operational awareness and understanding of global business impacts;
• A passion for continuous learning and process improvement.

Education :

• University degree in Finance, Accounting, or a relevant field;
• Additional financial market certifications are valued.

In the market for...

Excitement

• Explore emerging technology, innovation, digital finance, and market-shaping ventures, grounded in nearly 200 years of success.

Connection

• Leverage our multicultural hubs to create rich connections and a sense of belonging with global impact.

Impact

• Power mission-critical systems that drive economic growth and innovation, supported by our employee-led social initiatives and flexible work environment.

Growth

• Embrace a growth mindset, contributing to our expanding business and ambitious goals.

Ready to enrich your career with impactful work, supportive leadership, and flexible programs? Apply now.

TMX is committed to a respectful, inclusive work environment and provides accommodations for applicants and employees requiring it.