Senior Associate, Cash, Derivatives & Collateral - London, UK

About Us

With $313.7 billion of gross assets under management, as of March 31, 2026, British Columbia Investment Management Corporation (BCI) is the provider of investment management services for British Columbia's public sector and one of the largest asset managers in Canada. BCI seeks investment opportunities around the world and across a range of asset classes that convert savings into productive capital. Our investment returns play a significant role in helping our institutional clients build a financially secure future for their beneficiaries.

Headquartered in Victoria, British Columbia, and with teams spanning Vancouver, New York, London, and Mumbai.

BCI integrates environmental, social, and governance (ESG) factors into all investment decisions to meet clients' risk and return requirements. Our people shape employee-focused initiatives, creating a strong culture. To learn more about our culture and values, visit our BCI Values in Action page.

POSTING CLOSE DATE: October 4, 2026

We are currently seeking a Senior Associate, Cash, Derivatives & Collateral to join our growing Investment Operations team in London, United Kingdom. This is an exciting opportunity to join a new and growing team at one of Canada's largest asset managers. This is a unique opportunity to work with and grow your career with a best-in-class investment operations platform!

The Opportunity

Based in London, United Kingdom and reporting to the Head of Cash, Derivatives & Collateral, the Senior Associate holds end-to-end operational responsibility for BCI's exchange-traded and OTC derivatives book across all asset classes and clients, spanning trade capture and confirmation through lifecycle management, settlement, and regulatory reporting.

The role is also responsible for the efficient management of cash liquidity on behalf of clients and asset classes including the daily FX netting and hedging program, maintaining strategies within pre-defined hedging ratios and netting FX spot transactions to reduce costs; directs collateral funding decisions to meet daily variation and initial margin obligations with BCI counterparties; and provides day-to-day oversight of BCI's securities lending program, optimizing security selection and utilization to maximize revenue.

The Senior Associate utilizes various tools to manage daily position information, trade confirmations, and daily mark-to-market valuation of derivative positions and cash management. They leverage AI models, agentic workflows, and automation tooling, developed in partnership with Financial Engineering, to streamline daily workflows and cash forecast models, triage exceptions, and support collateral selection and securities lending decision making. They work closely with portfolio managers, investment risk, clients and internal business units in the implementation of process improvements.

They are responsible for ensuring accurate daily valuations, position and cash management with the exchange and external parties, and for maintaining a real-time view of collateral inventory to support optimized collateral selection. They prepare derivatives and cash reports that are used by the traders and portfolio managers to make roll decisions and assist in asset allocation decisions, as well as decisions made by themselves (e.g. cheapest-to-deliver collateral selection, resets, fixings, corporate actions, triggers, etc.).

Department Description

Investment Operations (IO) delivers institutional-grade capability across cash management, derivatives and collateral, foreign exchange, trade settlement, corporate actions, and custodian oversight. Partnering with BCI's investment teams to design and execute end-to-end solutions that translate investment strategy into operational reality. The department manages this capability entirely in-house, supported by internally built quantitative models, AI-powered liquidity tools, and automated workflows that operate at the forefront of the industry. The department is organised into three branches: Investment Services and Settlements; Markets and Liquidity; and Financial Engineering.

What You Bring

• Relevant university degree or diploma (emphasis on Business, Economics, Finance, or related field).
• Professional designation (e.g. CFA, CA, CPA, MBA, CAIA, FRM) or industry accreditation is an asset.
• 5+ years of progressive, related experience (preferably with a large asset management firm, investment firm, or banking institution).
• An equivalent combination of training, education and experience will be considered.
• Proficient understanding of agency securities lending programs, including the loan lifecycle, recalls, borrower counterparty limits, collateral reinvestment, and agent lender oversight.
• Proficient understanding of global capital markets, financial instruments, valuation methodologies, data components, accounting principles, unitized pool transactions, corporate actions and global payment and settlement mechanisms with the ability to change