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- Tasks: Lead the Derivatives Operations Team and manage core derivatives tasks.
- Company: Pension Insurance Corporation secures retirement incomes with a focus on risk management and customer service.
- Benefits: Enjoy private medical insurance, 28 days annual leave, and a generous pension scheme.
- Why this job: Join a culture of continuous improvement and make a real impact on policyholders' lives.
- Qualifications: Experience in managing teams and delivering change in finance or investment environments is essential.
- Other info: This is a newly created role, perfect for innovative thinkers eager to drive change.
The predicted salary is between 36000 - 60000 £ per year.
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Pension Insurance Corporation (\”PIC\”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.
PIC is recruiting for a Derivatives Operations Manager to join its Investment Operations department. The purpose of this newly created role is to apply knowledge and insights concerning all derivatives operations activities and how these impact our policyholders. You will effectively collaborate with Investments, Finance, Risk and Origination to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate.
Specific accountabilities assigned to the role of Derivatives Operations Manager within the Investment Operations function:
- Lead and manage the Derivatives Operations Team ensuring Derivatives Operations activities are appropriately resourced with the correct knowledge and skillset to deliver the relevant and agreed outcomes for the function
- Define, maintain and demonstrate a robust risk, control and governance culture within the team. Maintain and oversee completion of procedures and task & control sheets. Chair regular team meetings
- Oversee effective and accurate completion of core Derivatives Operations tasks: Trade Support – capture, transmission, confirmation, settlement Regulatory Reporting – EMIR, SFTR, Solvency II Collateral Management & Optimisation – OTC, Stock Lending, Reinsurance. Derivatives Valuations
- Manage performance of direct reports within the team. Elevate talent to develop and enhance both technical and non-technical skills required to deliver a strong and purposeful team
- Prepare comprehensive Management Information and Key Performance Indicators for discussion with senior management and at appropriate forums
- Take a leading role in relationships with external service providers to ensure service standards are maintained or exceeded
- Maintain a culture of continuous improvement. Seek to improve existing process and procedure. Empower and challenge the team to deliver improvements. Manage change to deliver improvements effectively and on time
- Collaborate with the projects team to contribute resource and subject matter expertise to firm-wide projects. Manage resourcing requirements accordingly
- Effectively collaborate with other mangers in the Investment Operations team and key stakeholders in other teams, including the Investments, Finance and Originations teams
- Take ownership for own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Derivatives Operations
- Keep informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to derivatives by attending industry seminars, reading and sharing relevant published articles
Requirements
Experience:
- Management of an established and evolving team of experienced and high performing individuals
- Experience of delivering change and projects, and in working closely with Investment teams
- Experience using Aladdin
- Experience working in a banking, asset management, insurance or hedge fund environment
- Derivatives/instruments including: IRS, RPI, LPI, CCSW, TRS, Bond Forwards, Repo
Knowledge:
- Excellent technical knowledge of end-to-end derivatives operations, including: trade support, confirmation, collateral management & optimisation, derivatives valuations and regulatory reporting.
- Derivatives regulation, including EMIR, SFTR and Solvency II
- Derivatives documentation, including ISDAs, CSAs, CDEAs, GMSLAs, GMRAs
- Pensions, Reinsurance and LDI strategies
Skills:
- Strong organisation skills and communication skills
- Ability to persuade and influence both directly and indirectly
- Ability to manage people and other resources effectively
- Ability to organize work to meet deadlines
- Commercial judgement
- Good working knowledge of MS Excel, MS PowerPoint, MS Word and Market utilities such as MarkWire
Desirable personal attributes aligned to what success looks like in the role:
- Intellectually curious with a willingness to learn through own research
- Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
- Effective communicator – structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies
- Innovative thinker – positive attitude to change and a willingness to embrace new ideas and techniques to improve performance
Benefits
In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days\’ annual leave (excluding bank holidays), a generous pension scheme and much more.
Seniority level
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Seniority level
Mid-Senior level
Employment type
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Employment type
Full-time
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Job function
Other
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Industries
IT Services and IT Consulting
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Derivatives Operations Manager employer: Pension Corporation
Contact Detail:
Pension Corporation Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Derivatives Operations Manager
✨Tip Number 1
Familiarise yourself with the specific derivatives instruments mentioned in the job description, such as IRS and TRS. Understanding these will not only help you in interviews but also demonstrate your commitment to the role.
✨Tip Number 2
Network with professionals in the investment operations field, especially those who have experience with Aladdin or similar systems. Engaging with industry peers can provide valuable insights and potentially lead to referrals.
✨Tip Number 3
Stay updated on current regulatory changes related to derivatives, such as EMIR and SFTR. Being knowledgeable about these regulations will show your proactive approach and readiness to tackle compliance challenges.
✨Tip Number 4
Prepare to discuss your experience in managing teams and delivering change during the interview. Highlight specific examples where you've successfully led projects or improved processes, as this aligns closely with the role's requirements.
We think you need these skills to ace Derivatives Operations Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in derivatives operations, team management, and any specific knowledge of regulations like EMIR and SFTR. Use keywords from the job description to align your skills with what Pension Insurance Corporation is looking for.
Craft a Compelling Cover Letter: In your cover letter, express your passion for the role and the company. Discuss how your previous experiences have prepared you for the responsibilities of a Derivatives Operations Manager and how you embody their values of being Resilient, Adaptable, and Loyal.
Showcase Your Achievements: When detailing your work history, focus on quantifiable achievements. For example, mention specific projects where you led change or improved processes within derivatives operations, and how these positively impacted your previous employers.
Prepare for Potential Questions: Anticipate questions related to your experience with derivatives, team management, and regulatory compliance. Be ready to discuss how you would approach challenges in the role and provide examples of how you've successfully managed similar situations in the past.
How to prepare for a job interview at Pension Corporation
✨Showcase Your Technical Knowledge
Make sure to highlight your understanding of end-to-end derivatives operations, including trade support, collateral management, and regulatory reporting. Be prepared to discuss specific regulations like EMIR and SFTR, as well as any relevant documentation you’ve worked with.
✨Demonstrate Leadership Skills
As a Derivatives Operations Manager, you'll need to lead a team effectively. Share examples from your past experiences where you've successfully managed a team, driven change, or improved processes. This will show your capability to elevate talent and foster a strong team culture.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills and ability to manage change. Prepare scenarios where you had to overcome challenges in derivatives operations or implement improvements. Use the STAR method (Situation, Task, Action, Result) to structure your responses.
✨Engage with Industry Trends
Stay informed about current trends and developments in the derivatives market. During the interview, mention any recent articles or seminars you've attended. This demonstrates your intellectual curiosity and commitment to continuous learning, which aligns with the company's values.
