Analyst, Securities Lending & Collateral Management (12 month contract)
Why you'll love working here:
- Open concept office designed to facilitate communication and collaboration
- Business casual dress code
- World class Defined Benefit pension
- 100% company paid Extended Health and Dental benefits
- Annual wellness program for reimbursement of health & wellness related expenses
- On-site fitness, yoga and meditation classes as well as massage therapy
- You're making an impact and helping to deliver on our Pension Promise
The Securities Lending & Collateral Management group is responsible for all collateral management functions for the entire portfolio across all business lines along with maintaining all securities lending activity for the firm. Collateral management is an essential function as HOOPP would be unable to implement desired investment strategies without depositing collateral with approved brokers in accordance with industry standards and agreements. The group is responsible for ensuring all HOOPP assets are tracked and accounted for with approximately $30 billion of assets lodged across 90+ counterparties.
The Analyst, Securities Lending & Collateral Management must possess a strong knowledge of all investment products and strategies employed by HOOPP's Investment Management team as well as a general understanding of functions outside of the department such as accounting, valuation and performance in order to understand and validate the impact of Securities Lending and Collateral Management functions on downstream processes.
What you will do:
- Monitoring daily margin requirements for all 90 counterparties and report results to various departments within the organization for Derivatives, Securities Lending, Repo and Futures activity.
- Process all cash and non-cash collateral and securities lending activity daily within prescribed time frames and ensure trades are communicated to the custodian and followed up on until settlement. Approximately 3000 transactions are processed each month, as such accurate and timely processing is extremely important.
- Monitor all securities on deposit as collateral for proxy voting purposes. Proxy voting is a requirement of investment management at the direction of the board. Ensuring securities are called back prior to record date is the responsibility of the Analyst to ensure compliance with the policy.
- Ensure any corporate actions related to securities received or deposited are processed and validated with external brokers for both collateral and Securities Lending positions.
- Monitor available securities to ensure collateral is called back when securities are sold. This includes working closely with front office to ensure appropriate actions takes place to facilitate timely settlement.
- Prepare and issue Securities Lending invoices to counterparties and ensure all fees and revenue Analyst with such transactions are reconciled, collected and paid on a monthly basis.
- Perform ad hoc analysis on broker and portfolio utilization rates and make recommendations for best allocation of collateral.
- When required, assist in the development and testing of any new reporting requirements as they may arise.
- Evaluating the effectiveness of, and identifying opportunities for improvement as it relates to Securities Lending and Collateral Management functions to mitigate operational risk. This includes working with IT and the custodian to automate and enhance system functionality by documenting requirements and conducting extensive user acceptance testing.
- Ensure completion of critical daily, weekly and monthly management and front office reporting which may include coordinating and communicating with individuals, teams, and other departments either directly or indirectly.
- Ensure the timely completion of important internal controls, specifically an intense monthly collateral reconciliation package.
- Participate in negotiations with brokers regarding acceptable collateral types as well as providing feedback on CSA issues as required.
- Assist and back up as required the Sr. Analyst, with daily reporting needs for approximately 6 weeks per year.
What you bring:
- Minimum of 5 years' experience in financial sector, preferably in capital markets
- University degree in Business or related discipline
- Completion or enrolment in a professional designation program, preferred (CFA,CMA).
- Strong knowledge of capital market instruments including fixed income and equities gained through industry experience.
- Strong knowledge of derivative instruments such as swaps, FX forwards, options and futures gained through industry experience.
- Strong Knowledge of Securities Lending and Collateral management across all investment products
- Strong analytical and problem solving skills
- Proactive self-starter who is highly motivated and results oriented
- Attention to detail, accuracy, and completeness is very important along with the ability to handle multiple tasks efficiently
- Ability to meet tight deadlines
- Ability to work independently with minimal direction.
- Team player with excellent interpersonal and communication skills
- Identify and implement process improvements where necessary
- Willing to assume other responsibilities as required
- Knowledge of investment accounting standards & principles, valuations and P/L calculations
- Relevant computer literacy is mandatory
Notice for job applicants
Following the advice of Canadian health authorities, to mitigate the risk of potential spread of COVID-19 and support social distancing, all recruiting activities including interviews and new hire onboarding will be conducted online. While we are doing our best to ensure reasonable response times, please expect some delays during the recruiting process due to the current situation. Thank you for your patience and understanding during these challenging times.
For additional information on our adjusted recruitment process, please email us at email@example.com.
Established in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is a multi-employer defined benefit pension plan for Ontario's hospital and community-based healthcare sector. We serve more than 400,000 members who provide valued healthcare services at more than 610 employers across the province. At HOOPP, we exist to provide a stable and reliable pension for our members that starts in retirement and is paid for life. As one of Canada's largest and most respected pension plans, HOOPP's net assets reached $104 billion at the end of 2020 and our funded status remained strong and stable at 119%.
HOOPP's core values - professional, accountable, collaborative, compassionate and trustworthy - guide our every interaction with our members, employers and employees. We've become one of Canada's leading pension plans by consistently challenging ourselves and embracing innovation.
From our unique investment management approach to our innovative technology and thought-provoking research, we constantly seek to push the boundaries, and we do this by hiring passionate, forward-thinking people.
Our high-performance culture is founded on collaboration, respect and belonging. HOOPP is an equal opportunity employer and we're proud of our diversity. We select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact our Human Resources team. We will be happy to consult with you so that arrangements can be made for reasonable accommodation.