Collateral Management - Assistant Vice President

The Collateral Management function consists of 3 FTE, managing all exposures resulting from OTC, Repo, Structured Finance, ETD and SBL trading portfolios. The main purpose of this role will be to ensure counterparty credit risk is mitigated for all Mizuho’s collateralised agreements, in a controlled framework with any exposures escalated as per agreed processes and procedures to Senior Management and key stakeholders. The role requires a strong understanding of the products stated above, knowledge of market regulation and a proven track record of managing the day-to-day risks that are inherent when the firm’s potential credit risk.

Duties and Responsibilities

• Actively manage margin calls for OTC, Repo, SBL, ETD and Structured products and ensure all margin movements are captured in MHI systems once agreed. This includes both cash and securities.
• Ensure all payments/receipts are agreed, booked within the agreed deadlines.
• Ensure all Triparty movement instructions have been released to our relevant custodians and matched where applicable.
• All disputes are reconciled and reported to relevant departments for remediation and action.
• Cleared margin movements reflected in internal systems and reconciled daily.
• Monitor any custodian systems to ensure security activity has matched for settlement.
• Action all instructions on behalf of Affiliates for Repo and OTC Derivatives, Cleared and Bilateral, as indicated on daily handover files.
• Action movements, as instructed, on behalf of our Universal Bank facing cleared and bilateral trades.
• Action cleared interest movements as required each month.
• Follow up on and escalate any cash margin and security fails.
• Ensure all portfolios are reconciled and in line with counterparties.
• Agree interest payments on cash positions with counterparts ensuring these are posted within internal accounting systems to ensure timely settlement.
• Agree fee payments on fee based borrow positions with counterparts ensuring these are posted within internal accounting systems to ensure timely settlement.
• Ensure all daily and monthly controls are performed within agreed deadlines.
• Ensure all RPA processes are effective each day, and any errors are raised & remediated.
• Ensure all daily controls are adhered to.
• Ensure all control fail incidents are escalated accordingly.
• Work with technology to improve inefficient processes and the team control environment.
• Work on projects and firm initiatives when required.
• Crosstrain on all functions within the Agency Lending and Cross-Product Collateral sub-teams to enable periodic coverage of roles when required.

Qualifications, Skills, and Experience

• Great organisational and time management skills.
• Excellent communication skills with a collaborative nature when contributing to a successful team performance.
• Proven track record of working well under pressure and short deadlines.
• Strong numerical and analytical skills.
• Customer-centric career experience.
• Sound knowledge of CSA, GMSLA & GMRA agreements.
• Experience of daily functions & products supported (OTC, ETD, Repo & SBL).
• Solid understanding of OTC Derivative, Repo or SBL products.
• Demonstrable ability to innovate, support change and problem solve.
• Experience within Operations and detailed knowledge of operational functions.
• Sound knowledge of regulatory framework affecting collateral i.e. EMIR unclear margin rules and Triparty initial margin process.

What Mizuho Can Offer You

Here at Mizuho, there are fantastic progression opportunities and clear paths to promotion. We will give you ample opportunity to affect change and to help grow our business. In addition to the great opportunity outlined above we are also currently able to offer:

• Competitive starting salary, plus discretionary bonus.
• Non-contributory pension.
• 27 days’ annual leave.
• Core working hours.
• Hybrid working - office and home based.
• Virtual GP.
• Wellbeing benefits, including Mental Health Allies and First Aiders.

At Mizuho, we embrace flexible ways of working when the role permits. We offer different working arrangements like part-time, job-sharing and hybrid (office and home) working. Our purpose-led culture and global infrastructure help us connect, collaborate, and work together in agile ways to meet all our business needs. We are committed to supporting equality and diversity, and seek to create a workplace that is fully inclusive. We welcome applications from all sections of the community that we operate in and from all ethnic backgrounds, sexual orientation, beliefs, gender identities and disabilities.

If you require more information about our equal opportunities policy or wish to discuss any accessibility requirements or reasonable adjustments please contact the recruitment team – recruitment@mizuhoemea.com and we will be happy to help.