Collateral Management Middle Office Associate

Crédit Agricole Group; New York (NY); On-site; USD 100,000 - 120,000; Full time

Job summary

Crédit Agricole Group is looking for a professional to join the Collateral Middle Office team in New York. The role involves managing margin calls, executing collateral contract configurations, and monitoring/reporting for various financial products.

The ideal candidate has a strong background in financial services, analytical skills, and experience with tools like COMET and APEX. A Bachelor’s degree in Finance or a related field is preferred, and candidates should be ready to engage in improvement projects and develop processes.

Salary range for this role is $100k - $120k.

Qualifications

• Experience in collateral management or financial services.
• Strong understanding of margin calls and securities lending.
• Excellent attention to detail and organizational skills.

Responsibilities

• Execute and monitor margin calls for various contracts.
• Reconcile positions with counterparties and resolve discrepancies.
• Prepare and send MtM reports for clients in NY time zone.

Skills

Margin call management

Collateral contract management

Analytical skills

Reconciliations

Regulatory compliance

Education

Bachelor's degree in Finance or related field

Tools

COMET

APEX

SFCM

Trioptima

Excel

Job description

The Collateral Middle Office is responsible for executing and monitoring margin calls and interest according to the parameters established in the contracts, with management systems varying between COMET/DRACCAR for derivatives and bond repos, APEX for bond lending/borrowing, and SFCM for equity lending/borrowing. It is also in charge of reconciling positions with counterparties, monitoring and escalating issues regarding counterparties with discrepancies or unusual counterparty behaviors, and executing and monitoring reporting, particularly MtM (Mark-to-Market) reports.

Main Tasks

1. Capture of collateral contract terms
   • Configuration of collateral contracts in management tools
   • Management of the collateral contract lifecycle (amendments, closures, modifications, etc.)
   • Participation in collateral contract negotiations in case of non-convergence with our standards
   • Ensure completeness of configurations through reconciliations between management systems and the legal database
2. Margin call management
   • Notification, confirmation and booking of margin calls in COMET for bond repos and OTC derivatives, in APEX for bond SLB and in SFCM for equity repos and SLB (NY time zone)
   • Contact with Front Office to borrow securities posted as collateral
   • Coordination with BO payment teams for margin call settlements
   • Analysis, monitoring and resolution of payment suspense items (cash and securities)
   • Analysis of collateral balances
   • Coverage of non-standard collateral operations (Secured Deposits, Secured Notes, Secured Loans, etc.)
3. Controls and reconciliations
   • Margin call controls: Notifications sent, amounts booked in the tools
   • Margin call reconciliation
   • Implementation of regulatory reconciliations in management tools for uncleared OTC Derivatives (COMET/Trioptima)
   • Execution of portfolio reconciliations in Trioptima and EXCEL (regulatory and in case of margin call disputes)
   • Investigation of significant MtM variations and breaks identified in reconciliations (MtM or inventory discrepancies)
   • Daily reporting and monitoring of discrepancies and disputes detected
4. MtM Reporting
   • Sending of MtM reports for NY time zone clients (Daily, weekly or monthly)
   • Monitoring of DFA daily marks operations/clients
   • Management of audit requests on market operations
5. Projects, processes and procedures
   • Participate in improvement projects in collaboration with Paris teams (including UAT)
   • Formalize and document the various processes
6. Transverse
   • Reporting activities (Internal–KPI, KRI – External to regulatory authorities/Market surveys)
   • Incident reporting process
   • Business development: provide opinions/analyses on NAPs, participate in UATs (system upgrades, new products, etc.)
   • Management of requests received from clients/other CACIB departments and escalation of any atypical request/situation

Salary Range: $100k - $120k

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