LCH Ltd (LCH) is a leading, independent clearing house, serving major international exchanges and platforms, as well as a range of OTC markets. It clears a broad range of asset classes including equities, exchange-traded derivatives, foreign exchange derivatives, interest rate swaps, and Euro and Sterling bond and repo markets. The firm's employees serve members and clients worldwide including many of the major financial groups consisting of almost all of the major investment banks and broker dealers.
Within the wider LCH Operations function, Collateral Operations provides collateral and investment services to internal and external customers and stakeholders across all asset classes. The department spans three time zones with teams in Manila, Sydney, London and New York. The first priority of our Collateral Operations team is to provide excellent day-to-day services. However working in Collateral Operations involves much more than providing daily processing services. The team works on a variety of projects in which we engage a range of other teams, such as IT and product development, to create real solutions for our members and clients.
Role Description
We are currently seeking an individual to join LCH Ltd Operations in the role of Senior Associate, Collateral Operations. Based in London, the role holder will perform operational processes relating to the daily management of collateral that underpins the firms' clearing activities. The role scope covers a wide range of collateral functions including confirmations, settlements, payments and receipts for cash, investments, reconciliations, money market, swap and triparty or bilateral repos.
The ideal candidate should have experience working for either an investment bank in a collateral or cash management role, a clearing house or custodian. Requires good knowledge of commercial banking processes including currency cut off's and the payment messaging infrastructure (SWIFT) is required.
You can expect to participate in the areas outlined below:
Margin Call Management
- To action the timely collection of margin payments and receipts, escalating late payments and issues. with cash-flow as per procedures.
- Oversight and monitoring of intra-day cash flow.
- Investigation and escalation of delayed calls or cash breaks.
- Cover distribution process to compare liabilities to assets lodged with the clearing house.
- Investigate settlement issues and resolve through accordingly.
Securities Settlement
- Monitor and manage the instruction and settlement of bilateral and triparty settlements.
- Take a lead on settlement issues and resolve through accordingly.
- Front to back processing of Corporate Actions.
- Reconciliations across books and records.
Trade Support and Reconciliations
- Monitoring and sweeping of cash across internal accounts for funding and investment.
- Matching internal repo trades with counterparties.
- Interaction with front office investment to ensure cash flow (in/out) is reflected on investment balances.
- T+1 reconciliations of member balances and nostro accounts.
- Investigation and escalation of failed trades or reconciliation breaks.
- Daily / Weekly / Monthly reconciliation break reporting.
Member / Client Queries
- Interaction with members on a daily basis to ensure funding requirements are met.
- Communication via email and phone with members.
- Managing queries in a timely manner.
- Produce member presentations.
Incident Management and Problem Resolution
- Operational incidents are recorded in the incident management system, ensuring the tracking and resolution of all open incidents, escalating where appropriate.
- Escalation of all large operational incidents to management.
Service Reviews and MIS Production
- Production of daily, weekly and ad-hoc MIS for internal and external interested parties.
Change and Procedural Management
- Involved in small operational change items from design through to implementation.
- Co-operation in UAT planning and execution.
- Ensuring procedures are reviewed and maintained as a result of service change, continually look for ways to improve current processes and procedures.
- Ensuring you are always following the defined procedures and maintaining a good level of KPI's.
- Quarterly operational procedure reviews.
- Assistance in annual auditing where required.
Essential experience and skills required:
- Experience in Payments/Settlements, Collateral Operations or Cash Management.
- Able to demonstrate knowledge and awareness of LCH role in Market.
- Good knowledge of commercial banking and CCY cut off's.
- Self-motivated, diligent and escalates appropriately.
- Able to work independently and autonomously.
- Can multi-task and prioritise workload accordingly.
- Communicates clearly and concisely, verbally and in written form, to internal and external parties.
- Possess a high drive for success.
- Working knowledge of SWIFT and Microsoft Office suite (Excel, Powerpoint and Word).
- Advantageous to have knowledge of CREST, Clearstream, Euroclear and Calypso.
LSEG is a leading global financial markets infrastructure and data provider. Our purpose is driving financial stability, empowering economies and enabling customers to create sustainable growth.
Our purpose is the foundation on which our culture is built. Our values of
Integrity, Partnership
,
Excellence
and
Change
underpin our purpose and set the standard for everything we do, every day. They go to the heart of who we are and guide our decision making and everyday actions.
Working with us means that you will be part of a dynamic organisation of 25,000 people across 65 countries. However, we will value your individuality and enable you to bring your true self to work so you can help enrich our diverse workforce. You will be part of a collaborative and creative culture where we encourage new ideas and are committed to sustainability across our global business. You will experience the critical role we have in helping to re-engineer the financial ecosystem to support and drive sustainable economic growth. Together, we are aiming to achieve this growth by accelerating the just transition to net zero, enabling growth of the green economy and creating inclusive economic opportunity.
LSEG offers a range of tailored benefits and support, including healthcare, retirement planning, paid volunteering days and wellbeing initiatives.
We are proud to be an equal opportuni