Summary & Responsibilities:
Global Derivative Services is responsible for all back-office functions that support derivative trading enterprise-wide, including both the General Account and 3rd party funds managed by Manulife and John Hancock Asset Management. Over $300 billion notional is currently being managed across multiple legal entities, segments and portfolios. Instrument types include cleared and over-the-counter swaps, futures, options, FX and the candidate should have an understanding of each. Daily functions include the daily monitoring of collateral positions and margin requirements across bilateral and exchange traded clearing accounts, trade booking, reconciliations, OTC and margin settlements, and fielding audit inquiries. The candidate should possess excellent communication skills (both written and verbal). Collaborating with the front office, solutions, derivative operations, static data maintenance, and reporting teams will be essential for success.
The successful candidate will assist with the UAT and implementation of collateral management related project work, including the implementation of a new collateral management system and will have relevant market experience. The candidate must be flexible enough to move quickly between different tasks, be detailed-oriented, and possess the proven ability to succeed in a highly collaborative environment. The candidate will have the ability to build professional business relationships with outside vendors and broker/dealers as well as internal business lines such as Global Solutions Delivery, Investment Law, Treasury, and the Front Office.
- Trade processing, confirmation and settlement oversight. Manage daily operations, ensuring accurate portfolio reporting and systems processing
- Collateral/margin management for Futures, OTC, and Cleared products including: issuing margin calls, substitutions, and cash management
- Assist with project testing as requested
- Develop and manage working relationships with clearing broker back office counterparts
- Process internal ad hoc requests from various groups in a timely and efficient manner
- Update or create new process documents for all tasks relevant to the position and maintain internal database of all process documents
- Propose improvements to current processes that will increase the efficiency and effectiveness of the group
- Contribute to the gathering of data for quarterly metrics reporting to senior management
- Complete daily, weekly, monthly, quarterly, and year-end reporting duties in a timely manner
- Contribute to the capacity and depth of Global Derivatives Services in order to respond to the organization’s current and future derivative demands
- Relevant undergraduate education a must, degrees in Accounting, Finance, or Economics Preferred
- 1-3 years of investment operations/accounting experience, with at least 1 years of hands-on experience in derivative products
- Working knowledge and direct Middle/Back Office experience in, but not limited to, the following:
- Full Lifecycle of futures, OTC, and cleared derivative products
- International Swap & Derivatives Association (ISDA) documentation and CSA’s preferred
- Custodian/clearing broker operations, settlements, and associated reconciliations
- Ability to prioritize problems/tasks while working in a fast paced, deadline driven environment with a focus on accuracy
- Possesses a strong understanding of the post trade process including trade allocation, matching, confirmation, and reconciliation for financial products including futures, IRS, CDS, options, FX, and other OTC/Cleared derivatives.
- Familiarity with MS Office suite, derivative trading/accounting platforms, collateral management systems, and third-party market data providers preferred.
- Solid organizational skills and a high degree of professionalism combined with the ability to readily adapt to rapidly changing environments and deal with competing priorities
- Team player with demonstrated experience building and maintaining good working relationships both internally and externally