Collateral Specialist

Description

The OTC Collateral Analyst is responsible for daily collateral management across the bank’s OTC derivative portfolios, ensuring effective mitigation of counter party credit risk. The role supports the bank’s risk management framework by validating exposure calculations, executing margin calls, managing collateral settlements, resolving disputes, and ensuring compliance with regulatory requirements such as ODP Regulations and The Joint Standard on margin requirements for non-centrally cleared OTC derivatives (UMR).
This role operates within a highly controlled banking environment, requiring strong adherence to operational risk frameworks, governance standards, and audit requirements.

Are You Someone Who Can

Daily Margin & Exposure Management

Perform daily exposure calculations across OTC derivative positions (Rates, FX, Credit, Commodities, Equity Derivatives).

Issue and respond to Variation Margin (VM) and Initial Margin (IM) calls within required cut-off times.

Reconcile collateral balances between internal systems, counter parties, clearing brokers, and custodians.

Monitor settlement statuses and ensure timely movement of collateral (cash and non-cash).

Dispute & Break Management

Investigate valuation discrepancies and disputes using pricing models, internal valuation tools, and market data.

Coordinate with Front Office, Risk, Valuations, and Finance teams to resolve exposure breaks.

Escalate unresolved or aged disputes per bank policy.

Collateral Eligibility & Optimization

Ensure collateral posted/received complies with CSA terms, eligibility schedules, concentration limits, and regulatory rules.

Perform collateral substitutions and optimize collateral usage to support BRM (Business Resource Management) funding objectives.

Regulatory Compliance & Controls

Operate within the bank’s regulatory framework: ODP Regulations, Joint Standards on Margin Requirements (UMR), Basel III,

Maintain evidence and audit trails for all collateral and margin activities.

Support regulatory reporting requirements (e.g., ODP, UMR IM calculations).

Adhere to internal controls, segregation of duties, and compliance standards.

Operational Risk Management

Ensure all activities comply with the bank’s Operational Risk Management Framework.

Identify, record, and escalate operational incidents and near misses.

Perform daily control checks, such as:

Exposure reasonability checks

MTM validation controls

Margin call timeliness metrics

Collateral reconciliation exceptions

Reporting & Stakeholder Management

Produce daily and monthly collateral reports for Risk, Head of Operations, BRM, and Compliance.

Support audit reviews, internal governance committees, and management reporting.

Engage with external counter parties, custodians, and clearing brokers in a professional and compliant manner.

Process Enhancement & Change Initiatives

Contribute to system enhancements, workflow improvements, and automation initiatives.

Participate in UAT, project rollouts, or regulatory change programmes impacting collateral operations.

You Will Be An Ideal Candidate If You Have:

2–5 years of experience in a bank or financial institution within:

Collateral Management

OTC Derivatives Operations Middle Office Risk or Treasury collateral functions

Experience dealing with counter parties and custodians in a high-control environment.

Previous exposure to UMR or regulatory margin reforms is highly beneficial.

Detailed understanding of OTC derivative products and valuation concepts.

Strong knowledge of ISDA/CSA and GMRA collateral documentation.

Understanding of UMR IM (SIMM or Grid), VM rules, and global margin regulations.

Experience with collateral systems such as:

Tri Optima / Tri Resolve Acadia  / Acadia Soft Murex

Strong Excel capability (VLOOKUP, pivot tables, analytics).

You will have access to:

Opportunities to network and collaborate

Challenging working

Opportunities to innovate

We can be a match if you are:

Curious & courageous - you're driven by always wanting to know more and learn more and you're brave enough

Obsessed with mastery - you know what it takes to become good at what you do and are constantly pushing yourself to do it

Love putting our clients at the forefront of what you do

Are you interested to take the step? We look forward to engaging with you further. Apply now!

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Job Details

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below.

14/02/26

All appointments will be made in line with First Rand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.