Senior Derivatives Collateral & Margin Oversight Analyst

Legal & General; Greater London; On-site; GBP 85,000 - 105,000; Full time

Benefits offered by this job

Yearly bonus plan

Generous pension contribution

Life assurance

Healthcare plan

Job summary

Legal & General is seeking an experienced derivatives clearing professional to join our Collateral Oversight function. In this 12-month fixed term contract, you will provide independent governance across cleared derivatives including ETD, futures and OTC clearing, working with Front Office, Treasury, Risk and senior leadership to monitor margin risk and oversee broker/CCP relationships.

You will challenge margin calculations and oversee collateral and liquidity management, contributing to a

Qualifications

• Experience in cleared derivatives collateral management across ETD, futures and OTC clearing.
• Understanding of CCP margin models and collateral management principles.
• Ability to explain complex risk, margin and liquidity exposures to diverse stakeholders.

Responsibilities

• Provide independent governance and challenge across Initial Margin and Variation Margin for ETD and OTC cleared derivatives.
• Monitor margin utilisation, exposure drivers and liquidity impacts including intraday movements.
• Challenge margin calculations, CCP model outputs and broker methodologies for robust risk management.
• Oversee clearing broker (FCM) performance including margin accuracy and funding efficiency.
• Maintain oversight of CCP exposures including default fund contributions and concentration risks.
• Review collateral allocation strategies and promote efficient use of eligible collateral.
• Strengthen control frameworks by overseeing reconciliations and incident resolution.
• Produce management information and support regulatory compliance and process improvements.

Skills

Collateral management

Margin modelling

Risk governance

Stakeholder management

Power BI

Tools

Power BI

Job description

Legal & General is seeking an experienced derivatives clearing professional to join our Collateral Oversight function. In this 12-month fixed term contract, you will provide independent governance across cleared derivatives including ETD, futures and OTC clearing, working with Front Office, Treasury, Risk and senior leadership to monitor margin risk and oversee broker/CCP relationships.

You will challenge margin calculations and oversee collateral and liquidity management, contributing to a