SBL and Delta One Middle Office

Saxton Leigh; Greater London; On-site; GBP 60,000 - 90,000; Full time

Job summary

Saxton Leigh is seeking an experienced SBL and Delta One Middle Office professional to join its Operations team in London. You will own the end-to-end trade lifecycle for Securities Lending, Repo and Delta One, with a strong emphasis on settlements and timely reconciliations.

You will monitor settlement events, resolve breaks, and support collateral movements, cash management and asset servicing. The role involves interaction with custodians, agents and senior stakeholders.

Qualifications

• Experience in Securities Lending, Repo or Delta One operations.
• Strong settlements experience across cash and securities.
• Knowledge of collateral management, reconciliations and cash management.
• Ability to identify and resolve settlement issues under pressure.

Responsibilities

• Own the daily trade lifecycle for Securities Lending, Repo and Delta One from capture to settlement and reconciliation.
• Monitor and resolve settlement fails with counterparties, custodians and agents.
• Manage collateral movements, margin calls and dispute resolution.
• Support asset servicing activities including corporate actions and dividends on financed positions.
• Perform daily position, trade and cash reconciliations and investigate breaks within timelines.
• Support cash management, funding, and nostro monitoring.
• Identify, escalate and remediate operational risks and support audits and regulatory reviews.
• Support process automation, system enhancements and UAT, and mentor junior team members.

Skills

Securities Lending

Delta One operations

Reconciliations

Settlement processes

Job description

A leading international securities business is looking for a SBL and Delta One Middle Office to join its growing Operations team.

You will work on the end-to-end back and middle office lifecycle of Securities Lending, Repo and Delta One products, with a particular focus on settlements.

Key Responsibilities:

• Own the daily trade lifecycle for Securities Lending, Repo and Delta One products, from trade capture and confirmation through to settlement and reconciliations.
• Monitor, investigate and resolve settlement fails, working with counterparties, custodians and agents to minimise fail costs, buy-ins and penalties.
• Manage collateral movements, margin calls and disputes, and ensure collateral is accurately allocated and reconciled.
• Support asset servicing, including corporate actions, dividends, manufactured payments, recalls and income processing on financed and synthetic positions
• Perform daily position, trade and cash reconciliations, and investigate and clear breaks within agreed timelines.
• Support cash management and funding, including cash forecasting, nostro monitoring and liaison with Treasury.
• Identify, **escalate** and remediate operational risks, and contribute to control improvements, audits and regulatory reviews (e.g. SFTR, CSDR).
• Support process automation, system enhancements and change projects, including UAT.
• Act as a subject matter expert, mentoring junior team members and providing management information to senior stakeholders.

Requirements

• Minimum 5 years’ experience in Securities Lending, Repo or Delta One operations within an investment bank or similar financial institution.
• Strong, demonstrable settlements experience across cash and securities, including CSDs, ICSDs and custodian networks.
• Working knowledge or experience in at least some of: Collateral Management, Asset Servicing, Reconciliations, Cash Management or Treasury operations.
• Sound understanding of the product lifecycle, market infrastructure and settlement cycles.
• Strong analytical and problem-solving skills, with high attention to detail and the ability to prioritise under pressure.

For further information, please contact Caitlynn Fourie