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- Tasks: Join our Middle Office team to oversee collateral operations and improve processes.
- Company: Dynamic organisation focused on customer-first values and teamwork.
- Benefits: From £53,000 salary, excellent pension, private medical insurance, and 38 days holiday.
- Other info: Flexible working options available, including part-time and job-share.
- Why this job: Make a real impact in a collaborative environment while developing your career.
- Qualifications: Experience with derivatives and strong operational skills required.
The predicted salary is between 53000 - 53000 £ per year.
We’re looking for a Collateral Specialist to join our Middle Office team. If you’re looking for a new challenge with an organisation committed to putting customers first, aiming high and working together, you’ll thrive here.
Job Type: Permanent
Location: This role could be based from our London or Birmingham offices with time spent working from home and from the office (3 days) with some travel between Phoenix offices.
Flexible working: All roles are open to part-time, job-share and other types of flexibility. We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Salary and benefits: From £53,000 (subject to experience) plus bonus, excellent pension scheme, private medical insurance, electric vehicle scheme, 38 days holiday incl. Bank Holidays, plus 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more!
Middle Office Team: Middle Office is a key support area for the RS&AM function within Phoenix. It has wide ranging accountability ensuring operational control of risk management activities, supporting the Group and AM governance framework, and delivery of investment reporting.
The role: This is a great opportunity for an experienced middle office derivative or collateral professional to play an active role within the Middle Office team. You’ll contribute to process improvement and operating model enhancements, helping to strengthen systems and controls across asset and fund classes. You’ll also support the integration of legacy Phoenix risk carriers across procedures and platforms, working collaboratively with colleagues across the business. The focus of this role is primarily on collateral servicing for both policyholder and shareholder assets. You’ll work closely with Front Office teams – particularly the ALM (Asset Liability Management) function – providing dedicated product support across collateral activity. In addition, you’ll partner with Portfolio Implementation and Manager Oversight teams on a day‑to‑day basis, offering practical operational input and guidance.
Key Responsibilities:
- Supporting oversight of collateral operations, helping to ensure activities are completed and contributing to the resolution of any outstanding issues.
- Acting as a point of escalation for collateral disputes and queries, working with colleagues and external partners.
- Supporting onboarding of new systems, collaborating with third‑party providers to implement new capabilities and establish internal processes.
- Contributing to risk and control processes to ensure collateral operations operate in line with policy standards.
- Supporting oversight of securities lending activities.
- Working with the wider business to help meet regulatory requirements.
- Supporting onboarding of new collateral agreements (GMRA, ISDA, CSA, CSD).
- Contributing to the integration of new business lines arising from closed‑book acquisitions, open‑book activity and BPA transactions.
- Applying a strong understanding of derivatives and CSA structures.
- Supporting activity relating to UMR and the implications of Regulatory Initial Margin.
What are we looking for?
- Experience working with derivative products & securities from a middle office or back‑office perspective.
- Demonstrated understanding of pre‑trade governance, including strategy, investment guidelines and mandates.
- Knowledge of the operational nuances of complex derivative and collateral structures.
- Experience supporting core operational activity, including trade enrichment and validation, transaction reporting, settlement and reconciliations.
- Experience working with external stakeholders such as custodians, clearing brokers and counterparties.
- Experience leading a team (including dotted‑line responsibility), with the ability to delegate appropriately and work collaboratively with wider teams.
- Advanced Excel skills with strong capability in producing management information, analytical reporting and professional presentations (PowerPoint / Word); Aladdin experience desirable.
- Experience supporting project or initiative delivery within a financial services or asset management environment.
Desirable:
- Broad knowledge of the trade lifecycle of derivatives including derivative documentation (ISDA / CSA and central clearing agreements, specifically novations and porting).
- Functional knowledge of end to end investment management technology / operating models, and downstream consumers / value chain.
- Exposure to business transformation projects, such as onboarding of investment managers, products (cash and derivatives, potentially structured products) or portfolio restructurings.
Inclusion: We are committed to ensuring that everyone feels accepted and welcome. If your experience looks different from what we’ve advertised and you believe you can bring value to the role, we’d love to hear from you. If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
Collateral Specialist employer: Standard Life (previously Phoenix Group)
Contact Detail:
Standard Life (previously Phoenix Group) Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Collateral Specialist
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and asset management sectors. Attend industry events or webinars, and don’t be shy about introducing yourself. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for those interviews! Research the company and its culture, especially how they prioritise customer service and teamwork. Think of examples from your past experiences that showcase your skills in collateral operations and working with derivatives. Practice makes perfect!
✨Tip Number 3
Show off your analytical skills! Be ready to discuss how you've used Excel and other tools to produce reports or manage information. Bring along some examples of your work if possible, as this will demonstrate your capabilities and give you an edge over other candidates.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you’re genuinely interested in joining our team. Let’s get you that Collateral Specialist role!
We think you need these skills to ace Collateral Specialist
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Collateral Specialist role. Highlight your experience with derivatives and securities, and don’t forget to showcase any relevant operational activities you've been involved in. We want to see how your skills align with what we’re looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about this role and how your background makes you a perfect fit. Remember, we love candidates who put customers first and thrive in collaborative environments.
Showcase Your Skills: Don’t hold back on showcasing your advanced Excel skills and any experience with management information or analytical reporting. If you’ve worked with Aladdin or similar tools, make sure to mention that too! We’re keen on seeing how you can contribute to our Middle Office team.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates. We can’t wait to hear from you!
How to prepare for a job interview at Standard Life (previously Phoenix Group)
✨Know Your Collateral Inside Out
Make sure you brush up on your knowledge of collateral servicing and derivative products. Be ready to discuss your experience with complex structures and how you've handled disputes or queries in the past. This will show that you’re not just familiar with the terms, but you can apply them practically.
✨Showcase Your Team Spirit
Since this role involves collaboration with various teams, be prepared to share examples of how you've worked effectively with others. Highlight any experiences where you’ve led a team or contributed to process improvements, as this will demonstrate your ability to work together towards common goals.
✨Prepare for Regulatory Talk
Given the focus on regulatory requirements, make sure you understand the implications of UMR and other relevant regulations. Be ready to discuss how you've navigated these in previous roles, as it will show your awareness of the industry's compliance landscape.
✨Excel at Excel
Since advanced Excel skills are a must, practice creating management reports or analytical presentations. Bring examples of your work if possible, as this will not only showcase your technical skills but also your ability to communicate complex information clearly.