Collateral Product Owner & Project Manager

Legal & General; Greater London; On-site; GBP 90,000 - 130,000; Full time

Benefits offered by this job

Annual bonus

Generous pension

Life assurance

Healthcare plan

25 days holiday

Job summary

Legal & General Asset Management is seeking a Collateral Product Owner & Project Manager to shape and enhance collateral management across derivatives markets. You’ll own the collateral operating model and lead strategic initiatives while coordinating with Front Office, Operations, Risk, Technology and external participants.

You’ll drive regulatory change, oversee governance, and push for efficiency, automation and scalability in collateral processes.

Qualifications

• Extensive experience with derivatives and collateral management in asset management, investment banking or custody environments.
• Strong understanding of cleared and bilateral margining models and collateral processes.
• Proven ability to deliver large-scale operational, regulatory or technology change programmes.
• Knowledge of EMIR, UK EMIR, UMR and broader derivatives market regulation.
• Experience working with CCPs, clearing brokers and collateral optimisation initiatives.
• Excellent stakeholder management and communication skills.

Responsibilities

• Own and develop the end-to-end collateral operating model across cleared and bilateral derivatives.
• Define and deliver the strategic collateral roadmap, meeting business priorities and regulatory requirements.
• Lead collateral-related change initiatives including EMIR, UK EMIR, UMR, clearing expansion and tech transformation projects.
• Partner with Investments, Risk, Legal, Compliance, Technology and Operations to deliver business outcomes.
• Enhance collateral processes, controls and workflows to improve efficiency, automation and scalability.
• Oversee governance, risk management and regulatory compliance across collateral services.
• Manage relationships with clearing brokers, CCPs, custodians and counterparties.
• Monitor collateral performance and operational risks to support continuous improvement

Skills

Collateral management

Derivatives

EMIR/UK EMIR/UMR

Project management

Stakeholder management

Regulatory change

Operational excellence

Job description

Legal & General (L&G) is a leading UK financial services group and major global investor.

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

Our global asset management business provides our clients and partners with complex, responsible investment solutions, working internationally across public and private markets.

Who we are

We are one of Europe’s largest asset managers and a major global investor across public and private markets.

Asset Management is a critical driver of our Group strategy. The business aims to work synergistically with our Institutional Retirement and Retail divisions to benefit our clients and customers, and deliver enhanced shareholder returns.

Our investment philosophy and processes are focused on creating value over the long term. We believe that incorporating financially material sustainability criteria, when relevant to our clients, can create value and drive positive change.

Legal & General (L&G) is a leading UK financial services group and major global investor.

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

Our global asset management business provides our clients and partners with complex, responsible investment solutions, working internationally across public and private markets.

Who we are

We are one of Europe’s largest asset managers and a major global investor across public and private markets.

Asset Management is a critical driver of our Group strategy. The business aims to work synergistically with our Institutional Retirement and Retail divisions to benefit our clients and customers, and deliver enhanced shareholder returns.

Our investment philosophy and processes are focused on creating value over the long term. We believe that incorporating financially material sustainability criteria, when relevant to our clients, can create value and drive positive change.

Job Description

At L&G Asset Management, we're looking for a Collateral Product Owner & Project Manager to play a key role in shaping and enhancing our collateral management capabilities across both cleared and bilateral derivatives markets. This is a highly visible role that combines product ownership, project delivery, regulatory change and stakeholder management, providing the opportunity to influence strategic initiatives and help drive operational excellence across a complex investment environment.

Working closely with Front Office, Operations, Risk, Technology, Legal and external market participants, you'll lead the evolution of our collateral operating model, ensuring it remains scalable, efficient and aligned to business growth and regulatory requirements.

What you’ll be doing:

• Owning and developing the end-to-end collateral operating model across cleared and bilateral derivatives
• Defining and delivering the strategic collateral roadmap, driving business priorities and regulatory requirements
• Leading collateral-related change initiatives including EMIR, UK EMIR, UMR, clearing expansion and technology transformation projects
• Partnering with stakeholders across Investments, Risk, Legal, Compliance, Technology and Operations to deliver business outcomes
• Enhancing collateral processes, controls and workflows to improve efficiency, automation and scalability
• Overseeing governance frameworks, risk management activities and regulatory compliance across collateral services
• Managing relationships with clearing brokers, CCPs, custodians, counterparties and industry vendors
• Monitoring collateral performance, operational risks, key controls and service metrics to support continuous improvement

Who we’re looking for:

• Extensive experience within derivatives and collateral management gained in asset management, investment banking or custody environments
• Strong understanding of both cleared and bilateral margining models and collateral management processes
• Proven experience delivering large-scale operational, regulatory or technology change programmes
• Sound knowledge of EMIR, UK EMIR, UMR and broader derivatives market regulation
• Experience working with CCPs, clearing brokers and collateral optimisation initiatives
• Strong project management skills with the ability to lead complex initiatives from planning through to implementation, with Proven experience owning the collateral product
• Excellent stakeholder management and communication skills, with the ability to influence at all levels
• A collaborative and solution-focused approach, combined with strong analytical and problem-solving capabilities

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. There’s also the option to buy and sell holiday
• Competitive family leave
• Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only)
• There are many discounts we offer – both for our own products and at a range of high street stores and online
• We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all.

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can.

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.