Derivatives - Assistant Vice President

Role Overview

The Assistant Vice President (AVP) Over the counter derivatives in the Global Process Delivery - Derivatives Department is responsible for ensuring team’s compliance with operating policies, procedures and guidelines in relation to the completion of OTC deliverables. They are also responsible for team development, staff management and enhancing client satisfaction.

You will be expected to direct and plan the department’s activities with a major focus on department strategy, change management, resource planning and development, client relationship management and risk reduction. This position offers the successful candidate the opportunity to demonstrate leadership, communication and technical expertise. They are responsible for implementing company policy, overseeing client deliverables and contributing to the development of the team and the organization.

The candidate is expected to be flexible with shifts.

Responsibilities & Tasks Include

Leads and manages the assigned department and takes complete ownership for strategic initiativesTake responsibility for the quality of service to assigned clients.Perform and/or monitor quality and internal controls for all team deliverables.Plan and manage the daily processes and service delivery deadlines, through the effective utilization of resources with the support of the Vice President.Review Bank standard operating procedures and controls, and evaluate the continuing effectiveness of these as they relate to the team’s funds. Ensure documentation exists for any client-specific procedures.Ensure contingency plans exist for the work of the team. Where necessary, contribute to the business continuity plans and tests.Participate in the development, testing and implementation of new systems and products.Assist with planning and management of all relevant project work.Lead and motivate your direct and indirect reports.Set and maintain standards of personal and professional performance/behaviour; ensuring staff accountability and adherence to company policies and procedures.Provide coaching, guidance and support to staff on technical, professional and client issues and agree goals, monitor and appraise the performance of staff.Assist with recruitment of new staffConduct regular and structured team meetings ensuring action points are followed up.Establish and maintain good working relationships with clients, third parties and colleagues, communicating effectively through formalized reporting and ad hoc liaison.Assist with client initialization and transition.Responsible for the setting and achievement of specific department performance targets and objectivesAs a member of the senior management team lead, direct and manage the departmentExercise operational oversight within the department and make sound operational decisionsCultivate a culture of collaboration within the team and across the businessDrive the implementation and adoption of new technologySupport the optimization of the operating model and capacity creationMaintain managerial oversight of all operations within your teamEnsure all teams are properly resourced to deliver high quality serviceAssume responsibility for the implementation of client specific projects (new business development review, planning & roll out)Monitor adherence with the corporate compliance and risk management policies and controls within the teams;Conduct performance planning and reviews for direct staff membersOwn all aspects of resource planning including succession planning, staff development and staff retention initiatives; promote cross training, resource sharing and job rotation across teams/departments; participate in the recruitment processConstantly review the risks applicable to your area and ensure these are adequately mitigated through controls and BCP strategyProvide regular feedback to Vice president and other senior colleagues regarding the operations and business

Leadership and Management

Lead and motivate direct reports. Set and maintain standards of personal and professional performance/behaviour; ensuring staff accountability and adherence to company policies and procedures. Co-ordinate and implement training and development activities for the associates within your charge. Provide coaching, guidance and support to staff on technical, professional and client issues. Agree goals for team annually and keep up-to-date on the PPR system during the year.

Management of Client Delivery

Take responsibility for the quality and timeliness of client service & contracted deliverables to assigned client(s). Where client initiatives involve the need to amend the current process, liaise with the appropriate subject matter experts to ensure full understanding of current vs. future state and potential gaps/business impacts that may require project support. Identify issues and problems with client delivery and carry out necessary corrective action, keeping Senior Ops Management team and Client Relationship Manager informed of issues.

Communication

Participate in periodic meetings with team which specifically focus on client initiatives, team training and day-to-day issues, ensuring any action points are closed.

Establish and maintain good working relationships with clients, third parties and colleagues, communicating effectively through formalized reporting (MIS, CRM & Senior Ops KPIs) and ad hoc liaison. Ensure effective logging and resolution of enquiries and liaise with appropriate parties to resolve/ escalate queries / problems within agreed timescales.

Job Requirements

Education and Experience

Bachelor degree or above13+ Experience in financial services and/or a back/middle-office operations environment.Derivatives trade processing related experience is a mustMust possess a minimum of 2-3 years of people/team managemeent experienceGood leadership, negotiation and analytical skills, proven track record of efficiency creation, proven track record of staff developmentDomain specific experience is crucialGood leadership, negotiation and analytical skills, proven track record of efficiency creation, proven track record of staff development

Skills/ Knowledge

Excellent understanding of financial instruments and its workability / applicationStrong interpersonal, oral and written communication skills; ability to effectively challenge and influenceExceptional analytical and critical thinking abilities; strong attention to detail and ensures accuracyExcellent administrative, organisational and business support skills, with the ability to multi-task and to work calmly under pressure.Possesses excellent leadership qualities such as ability to addresses difficult conversations, builds effective teams focused on goals, champions new initiatives, fosters development, gives timely feedback and coaching, Idea generator and sets challenging performance standards.Possesses ability to motivate and drive staff to achieve organisational and people goalsPossess excellent organisational, planning and co-ordination skills.Ability to work accurately to tight deadlinesProactive and able to work independently and as part of a teamHandle and resolve complex or unusual operational and managerial problems faced by the business unitEnsure that procedures, policies and processes are adhered to so that a high quality service is delivered to the customer. Drive procedural changes to improve performance of the department or of related business areasMaintain and develop expertise, demonstrating judgement and an understanding of the businessExperience of managing multi product / same product multi-functional environment within the same / similar IndustryExpert accounting knowledge in relation to different financial productsBe able to review inter process and inter resource variations to enhance the controls and improve the SLAs / KPIsEngage the team to seek feedback on process improvements and champion end to end process improvement programsEnforce and monitor adherence to the corporate compliance and risk management policies and controls within the fund group;Financial Acumen: demonstrate good knowledge and understanding about financial markets; be able to interpret the market news and build up market knowledge of the staffAbility to interpret technical views to enhance business outcome and impacts.Drive and manage the business changes with respect to the process, people and stake ownersBe able to prepare, interpret, analyze and present the data specific to business questions to the senior managementServe as senior point of escalation to ensure timely query resolution and customer satisfactionInteract with the home sites to clearly understand the local legal and statutory reporting requirements and direct the team with workarounds to produce the results

Disposition

Self-motivated Enthusiastic Leader / Motivator Trustworthy Self-reliant Flexible Personable

Core Competencies

Exercise sound judgment in all matters Leverage knowledge and technology to ensure optimal results Drive execution of all client and business related tasks Provide outstanding service to all client/s - internally & externally Communicate effectively at all levels within the organization Display organizational insight & influence Foster collaboration & team work Develop talent

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Job ID: R-798265