Director, Securities & Treasury Operations
Reporting directly to the Assistant Vice President, Securities and Treasury Operations, the Director, Securities and Treasury Operations will lead multiple teams, whose primary responsibilities include managing the securities and treasury operations function of HOOPP's $95+ billion securities portfolio. The role requires considerable liaison with the Investment Management Division, other areas of Finance, HOOPP's custodian, auditors, and external counterparties.
Roles and Responsibilities
The primary responsibilities for this position are:
Direct the Investment Operations for HOOPP's $95+ billion securities portfolio.
Direct the Securities & Treasury Operations for HOOPP. This area is the start of all downstream processes and reporting for HOOPP's capital market investments. Errors or omissions are impactful and will expose HOOPP to significant economic and reputational risks. Additionally, mistakes will impact all downstream processes and reporting including financial and investment management reporting. This could impact HOOPP's financial statements as well as reporting relied on by the Investment Management division for decision making purposes.
Manage existing processes to ensure compliance with HOOPP's Investment Finance Policy and Procedures Framework. Identify opportunities to enhance efficiencies and mitigate operational risk.
Collaborate with Investment Management and monitor industry trends to position HOOPP to respond quickly to new investment strategies and opportunities.
Provide leadership and supervision to multiple teams comprising of 19 professionals.
Direct Securities and Treasury Operations
Manage operations for the $95 billion and growing securities portfolio. Operations encompasses trade capture, trade confirmation, cash payments, bank account reconciliation and maintenance of all information pertaining to fixed income, equities, derivative and all other capital market assets from trade capture to maturity/divestment of the position. This is particularly complex due to the individual nature of trades and investment strategies, including the extent and rapid growth in the size of the derivative exposures.
Review and approve cash payments in excess of $5 million CAD.
Oversee the cash management and forecasting process. Cash forecasting reports are provided to Investment Management to enable them to make daily investment decisions. This also includes the oversight of investigation and resolution of claims for failed or late trades and the review and approval of overdraft interest on overdraft.
Oversee the settlement process to ensure that all trades are settled on a timely basis and all reconciling items between HOOPP, brokers and custodians are resolved.
Work in a collaborative manner with all members of the Finance team to ensure that the portfolio is accurately accounted for and valued appropriately.
Provide leadership in the ongoing enhancement of existing in house and vendor solution tools. Additionally, bring forward and provide leadership in other initiatives that drive the team forward. This includes identifying and making recommendations for process efficiencies, as well as control and reporting enhancements.
Provide support to the annual financial audit process, internal audit and the ICFR program.
Act as backup to the AVP, Securities and Treasury Operations.
Build Strong Relationships with External Service Providers
Liaison on a day to day basis between HOOPP and the custodian to ensure the custodian is complying with the contractual service level agreements. The individual also participates in the negotiation of service levels and the custodian contract itself.
Provide regular review and evaluation of risk exposures, services provided, and cost incurred.
Work to continuously enhance and improve the custodian's service through monthly and quarterly meetings with senior management.
Provide regular review and evaluations of the services provided by numerous technology vendors that are used as operating platforms for HOOPP's investments.
Ensure Compliance with Investment Finance Policy and Procedures Framework
Establish processes and procedures to minimize operational risk for multiple types of investments products including but not limited to:
- Fixed Income and other structured credit products
- Swaps including asset, equity, interest rate, cross currency, variance and custom basket swaps
- Credit default swaps including single issuer, index, and equity tranches
- Options including regular exchange traded, OTC, interest rate, index and futures options
- Externally Managed investments
Work with the Manager Business Process Engineer to Implement process improvements for all Securities and Treasury operation functions and ensure up to date documentation of key processes and procedures are maintained. Process improvements require coordinating across Finance areas, IT and the custodian to automate and enhance system functionality, as well as ensuring effectiveness of internal controls and efficiency of manual procedures.
Respond to New Investment Strategies and Opportunities
Develop and maintain an insightful business partnership with internal and external contacts (as described below), including anticipating and responding to their needs on a proactive basis.
Monitor industry trends and standards that impact the Investment Operations space. Assess the impact on HOOPP and implement changes in processes and staffing to ensure HOOPP is in compliance with regulatory requirements and meeting industry best practices.
Act as a trusted business partner to Investment Management. As a member of the Operational Readiness team, enable implementation of complex investment strategies by collaborating with teams across Finance and IT to ensure HOOPP is operationally ready to execute strategies.
Lead and direct multiple teams with a total of 19 professionals, ranging in seniority. This encompasses establishing the department structure, work assignments, training plans and annual objectives as well as monitoring and providing feedback on a continuous basis.
Assess staffing requirements and recommend changes to AVP and VP.
Create a culture of teamwork and knowledge sharing within Securities and Treasury Operations and throughout the Finance Division.
Facilitate effective communication within the team and between team members.
Promote collaborative, effective and efficient working relationships within HOOPP, where cross-divisional roles are appreciated and valued.
As a member of the senior management team of Finance, contribute actively to divisional initiatives, planning and issue resolution.
Help create an organization culture that attracts and retains high quality professionals, allows and encourages them to be highly productive and innovative, and provides opportunities for growth and development.
Provide effective leadership including articulating shared objectives, individual objectives and expectations; provide guidance and support to ensure team is set up for success.
Lead by example by demonstrating HOOPP's Core Values on a consistent basis.
Minimum of 10 years of experience in financial sector, with at least 5 of them in derivatives operations
Minimum of 7 years managing staff, with proven ability to provide leadership and strategic direction
University degree in Business or related discipline.
Knowledge of investment accounting standards & principles.
A post graduate degree in accounting, business or finance is a significant asset
Excellent interpersonal skills
The individual must possess extensive knowledge of all aspects of securities, including investment strategies and risk, and derivative instruments such as swaps, FX forwards, options and futures
Strong analytical skills and results oriented
Proven ability to design and implement efficient and effective procedures for multiple activities and securities types
Attention to detail, accuracy, and completeness is very important along with the ability to handle multiple tasks efficiently
Ability to meet tight deadlines and to manage conflicting priorities
Demonstrated ability to lead large projects which span multiple groups and function
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