Manager, OTC Derivatives, Business Operations

Venture outside the ordinary - TMX Careers

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets.  United as a global team, we’re connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.

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Job Summary 

Reporting to the Director, CDCC Business Operations, the Manager, OTC Derivatives, Business Operations provides leadership, direction and relationship management support for Canadian Derivatives Clearing Corporation (CDCC) Clearing Members while being accountable for the timely management and oversight of the following areas:

● Member Clearing Services including management of the CDCC Collateral Web Portal;

● Clearing & Settlement of transactions and Collateral Management;

● Corporate Actions event management & execution;

● Management of Banking, Custodian and Third party relationships for execution and downstream reporting.

This position has direct staff management and is accountable to plan, assign, and direct workflow. The Manager is also responsible to attract, develop, train and manage team performance.  

This role is a subject matter expert in the Clearing & Settlement of Derivative products with emphasis on Total Return Swaps (TRS). Furthermore, the role is responsible for ensuring the continued and enhanced client satisfaction throughout the CDCC North American Clearing Session. It is responsible to identify how existing products and services can bring further value to our clients by understanding current issues, processes, and long term needs, so that new products and services can be recommended and offered. The availability of the Manager is critical to the management of daily Business Operations, adherence to policies and procedures as well as incident management and escalation to senior levels of both internal partners and external clients/vendors.

Key Accountabilities

Client Centricity & Strategic Partnerships

• Act as the central point of contact for clients with ongoing engagement to provide solutions to our Members; 

• Ensure level 1 communication & support to a variety of client types (traders, inter-dealer brokers & Operations teams);

• Foster strong relationships with Correspondent Banks, Depositories and Third-Party Vendors with adherence to SLAs; 

• Promote TRS awareness across Corporate Shared Services (Risk Management, Audit, Client Services, Treasury  and Technology partners);

• Lead & Support client activities (Onboarding, Testing, Training and updated documentation);

• Ability to effectively interact with individuals at all levels in various capacities among our Participants, Members, Issuers, Banks, Legal and Regulatory Offices and other high profile organizations.

Operational Excellence & Resilience

• Provide leadership & guidance for complex in-depth technical & analytical requirements related to Collateral Management / Clearing / Banking & Settlements for OTC Derivatives (Total Return Swaps - TRS), Corporate Actions and related products & services;

  • Monitor daily activities and deadlines of Cash & Securities transactions to satisfy Intra-day & End-of-day Margin calls and financial obligations;   

  • Collaborate closely with other Team Managers to ensure Members satisfy participation requirements including timely reconciliations and reporting;

  • Represent Business Operations on the CDC Corporate Actions Committee  

• Ability to identify issues that may negatively impact Business Operations and decisively exercise sound judgment;

• Ensure CDCC Tier 1 key business processes and due diligence requirements are successfully completed and tested including Business Continuity Plan, Disaster Recovery, Default Simulations, Incident Management & Escalation to meet CCP requirements;

• Oversee strict adherence to Internal procedures, rules, audit requirements and the internal controls verification processes;  

• Provide recommendations using professional judgement, guided by known practices and industry requirements;

• Support / act as delegate for CDCC Business Operations Management as required.

Team Leadership & Development

• Foster an environment of collaboration, innovation, and continuous learning

• Mentor and develop team members to achieve their highest potential

• Balance strategic oversight with hands-on execution as required

• Create clear paths for team growth and development to ensure succession planning

• Strong leadership, people management and mentoring skills; ability to develop people by helping them consider alternatives for dealing with situations;

Must haves:

• Demonstrated track record of building trusted partnerships in complex financial organizations

• 10+ years of progressive operations / clearing house / collateral management experience, including 5+ years of people leadership

• Proven success in operations management with deep understanding of derivatives, corporate actions processing and settlements 

• Excellent organization skills with the demonstrated ability to plan and prioritize in a time sensitive environment, acting decisively and calmly under pressure with attention to detail;

• Excellent problem solving skills and ability to gather information through questioning and observation, identifying recommendations for risk mitigation in a continually changing environment;

• Strongly proficient with Google Suite, Excel and other desktop applications;

• Flexibility required to work in a time sensitive environment with tight deadlines.

Professional Attributes:

• Ability to navigate complex stakeholder environments

• Exceptional communication skills with ability to influence at all levels

• Strong financial acumen and business partnership capabilities

• Strategic mindset balanced with practical execution capabilities

• Operational awareness and ability to interpret impacts to global business contexts

• Continuous learner with passion for streamlining processes & evolution

Education:

• University degree in Finance, Accounting or relevant field

• Additional financial market certifications are valued

In the market for…

Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.

Connection - With site hubs in some of the world’s most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.

Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led Team Impact spreads social good via our giving strategy.

Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger “we”. Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived! 

Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.

Ready to enrich your career with impactful work, leaders who truly care, and the flexibility and programs to help you thrive as part of #TeamTMX ? Apply now.

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.