You're using an older version of Internet Explorer that is no longer supported. Please update your browser.

Senior Associate Repo Margining (US Repo)

Toronto, ON
Full Time
100 King Street West

Job Family Group:

Customer Shared Services

Senior Associate Repo Margining, is responsible for ensuring that the terms of the collateral agreements that the Bank enters into, in connection with its Repo/Reverse Repo business, are met. The role is also accountable for adhering to established controls, producing required reports, identifying process improvements and supporting new projects and taking a leadership role in CMG in respect of projects and other collateral management related matters.

  • Represent CMG Operations Team during change impact analysis and business requirements gathering, implementation planning and support, and issue escalation.
  • Advanced US Repo /Reverse Repo knowledge : Bond Valuation and Accruals (MBS-mortgage back securities, pool factors, etc.)
  • Follow through, monitor mark-to-market (MtM) exposure to the Bank's counterparties to mitigate credit losses and process the movement of collateral between the Bank and its counterparties around the world, and ensure timely settlement and that the terms of the collateral arrangements are met, as set out in the Capital Markets Financing Guideline for Collateral Management and Repo/Reverse Repos (Securities Financing Guidelines).
  • Act as the primary contact for new and/or revised CMG Operations Team projects and initiatives, and liaise with other business units such as LOB, Finance Shared Services, Credit Risk, Market Risk, and the Derivatives Legal Group (DLG) and external systems providers to ensure business interests are represented and understood.
  • Review, assess and recommend business readiness situations for new product introductions and feasibility of internal and external systems.
  • Advise the business to accept changes in process and systems by informing key stakeholders of the implications of changes; recommend actions, as appropriate.
  • Provide coaching and training to other staff from time to time.
  • Assess opportunities for the migration of work in or out of assigned business units.
  • Partner with Calypso Technology to ensure system application design specifications developed by Calypso Technology meet the business unit expectations/ requirements, and participate in the negotiation of solutions.
  • Collaborate with CMG Reconciliation team in their investigations when necessary.
  • Maintain, update and review static data in the Repo/Reverse Repo Margin Business Managed Application (BMA).
  • Process payments in connection with collateral arrangements e.g. monthly interest on cash collateral, coupon payments and service charges.
  • Understand regulatory and compliance requirements as prescribed for CMG, such as the Financing Guidelines, and provide recommendations and implement actions to ensure adherence, as required.
  • Adhere to project industry standards and requirements and ensure they are followed and assessed against current practices and policies.
  • Mitigate audit exposures and maintain awareness of regulatory impacts of change initiatives.
  • Review policy and procedure (P&P) updates for potential impacts that require assessment of changes introduced. This includes CMG operating procedures and Financing Guidelines.
  • Identify potential risk situations within the scope of work (e.g., risk assessments), make recommendations and/or escalate to the manager, where appropriate, and ensure contingency plans exist.
  • Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business.
  • Ensure adherence to all aspects of First Principles, Our Code of Business Conduct and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, P&Ps, e.g. Financing Guidelines, for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
  • Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with CMG procedures, Financing Guidelines and Bank P&Ps.
  • Follow security and safeguarding procedures as outlined in CMG procedures and in the Financing Guidelines and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.
  • Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate action, ensuring compliance requirements, audits and verifications are completed in accordance with Bank P&Ps, e.g. Financing Guidelines.
  • Identify any issues that may exist in CMG and provide solutions to these challenges and initiatives, where necessary.
  • Identify new opportunities for improving processes for efficiency, responsiveness and controls.
  • Identify, recommend and implement process improvements/ changes during technology projects and initiatives.
  • Investigate and resolve system or process corrections and adjustments affecting CMG's processes and effectiveness.
  • Contribute to the development of business planning, technology planning and process development related to change initiatives.
  • Act as the central point of contact for problem escalation from CMG Ops team and other relevant areas.
  • Contribute to the provision of workflow/ procedure training for team members, as required.
  • Participate in external and internal audits, as required.
  • Support the implementation and maintenance of process and system changes to ensure CMG's business requirements are accurately defined, business implications and impacts of initiatives to CMG and its related stakeholders are understood, and leadership decisions regarding change initiatives are informed through a thorough and thoughtful analysis and recommendations.
  • Ensure common application of standards and consistency of implementation in accordance with Bank standards and practices.
  • Ensure the overall implementation of change (technological, procedural, process and organizational) is timely, efficient, aligned to CMG Operations Team's business priorities and consistent with the Bank's overall strategy.
  • Facilitate and/or participate in post-implementation activities.
  • .
  • Qualifications:
  • University degree/college diploma or equivalent work experience (Master in Finance, CFA Level 1 or better preferred)
  • 5 to 7 years of related work experience
  • Industry related training (e.g. MRA knowledge)
  • Good knowledge of US repo is required (MBS -Mortgage Back securities, US Repo/Reverse Repos)
  • Solid experience with collateral management processes
  • Familiar with established process analysis and improvement tools
  • Familiar with products, operations and market practices as relates to collateral management
  • Strong or advanced level of knowledge in MS Excel (macros, Vlookup function, VBA etc.) and MS Access is required.

We're here to help

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

To find out more visit us at .

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Customer Service and Support