Senior Derivatives Collateral Oversight Lead

Banner-Life-Family-of-Companies; Greater London; On-site; GBP 90,000 - 120,000; Full time

Benefits offered by this job

Annual bonus

Pension contribution

Life assurance

Healthcare plan

25 days holiday + 8 statutory

Job summary

Legal & General (L&G) seeks an experienced derivatives collateral professional to join our Collateral Oversight function on a 12-month fixed term contract. You will provide independent governance across cleared derivatives activity and work with Front Office, Treasury and Risk to monitor margin risk and liquidity impacts.

You will oversee clearing brokers and CCP relationships, challenge margin calculations and contribute to robust risk management, controls and continuous process improvement.

Qualifications

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

Responsibilities

• Provide independent governance and oversight across IM/VM for ETD and OTC clearing.
• Monitor margin utilisation, liquidity impacts and intraday movements.
• Challenge margin calculations, CCP outputs and broker methodologies.
• Oversee clearing broker performance and house add-ons application.
• Maintain oversight of CCP exposures and default fund contributions.
• Review collateral allocation strategies and optimize use of collateral.
• Strengthen control frameworks with reconciliations, exception handling and risk processes.
• Produce MI and support regulatory compliance and process improvement.

Job description

Legal & General (L&G) seeks an experienced derivatives collateral professional to join our Collateral Oversight function on a 12-month fixed term contract. You will provide independent governance across cleared derivatives activity and work with Front Office, Treasury and Risk to monitor margin risk and liquidity impacts.

You will oversee clearing brokers and CCP relationships, challenge margin calculations and contribute to robust risk management, controls and continuous process improvement.