Senior Analyst - Agency Clearing (26000F02)

Job Title: Senior Analyst – Collateral Management

Location: Bangalore/Chennai, India
Business Unit: Corporate & Investment Bank (CIB) – Markets Operations

About the Role

As a Senior Analyst within the Collateral Management team, candidate is expected to play a critical role in safeguarding the firm against counterparty credit risk by managing collateral across cleared derivatives portfolios. He/she will work closely with trading desks, risk, legal, and external counterparties to ensure accurate margining, timely settlements, and regulatory compliance.

Key Responsibilities

Collateral & Margin Lifecycle Management

·        Manage the daily margin call process across global counterparties, covering:

o    Initial Margin (IM )

o    Variation Margin (VM)

o    Default / Guarantee fund

o    Coupon/PAI

·        Perform reconciliations and ensure breaks resolved within timeline.

·        Ensure timely issuance and settlement of margin calls in line with SLAs and internal controls.

Collateral Optimization & Liquidity Efficiency

·        Execute collateral substitution and optimization strategies

o    Efficient use of high-quality liquid assets

o    Adherence to eligibility criteria and haircuts

·        Partner with Treasury and Funding teams to reduce liquidity and funding costs.

·        Monitor collateral inventory across custodians and CCPs.

Settlement & CCP Management

·        Oversee collateral movements and settlements via custodians and clearing brokers.

·        Manage margin requirements for Central Counterparties (CCPs) and ensure compliance with clearing rules.

·        Ensure accurate booking and reconciliation of settlement activity.

Market & Product Expertise

·        Strong understanding of derivatives markets, including:

o    OTC derivatives: Interest Rate Swaps, FX, Credit Derivatives

o    ETDs: Futures & Options

·        Good knowledge of:

o    Mark-to-Market (MTM) methodologies

o    Pricing drivers and risk sensitivities (Greeks)

·        Awareness of trade lifecycle and post-trade processes.

Risk & Regulatory Frameworks

·        Solid understanding of risk disciplines, including:

o    Counterparty Credit Risk (CCR)

o    Market risk & liquidity risk basics

·        Working knowledge of global regulations:

o    EMIR, Dodd-Frank

o    Basel III / IV capital rules (good to have)

o    BCBS/IOSCO Uncleared Margin Rules (UMR) (good to have)

·        Familiarity with CCP margin models and regulatory expectations.

Technology & Systems

·        Hands-on experience with industry platforms such as:

o    Colline, Murex, GMI

·        Advanced proficiency in:

o    Microsoft Excel (complex formulas, pivots, data analysis)

·        Working knowledge of:

o    VBA (process automation – preferred)

o    SQL (data extraction and reporting – nice to have)

·        Exposure to automation tools (Alteryx, Python, etc.) is a plus.

Qualifications & Experience

·        Bachelor’s or Master’s degree in Finance, Engineering, Mathematics, or related field.

·        5–8 years of relevant experience in collateral management, derivatives operations, or market risk.

·        Prior experience in a global investment bank or financial institution preferred.

Key Competencies

·        Strong analytical and problem-solving skills

·        High attention to detail and risk awareness

·        Effective stakeholder management across global teams

·        Ability to work under pressure in a fast-paced trading environment

·        Strong communication skills (verbal and written)

Preferred Attributes

·        Experience working with global counterparties across regions (EMEA & APAC)

·        Proven track record in process automation or transformation initiatives