Derivatives Operations Manager

Pension Corporation; London; On-site; GBP 35,000 - 52,000; Full time

Job summary

Pension Insurance Corporation is seeking a Derivatives Operations Manager to oversee the operations team, manage derivative activities, and drive improvements across processes and systems. The role involves collaboration with various departments and requires excellent knowledge of derivatives operations and regulatory requirements. The successful candidate will lead a team while ensuring operational excellence and maintaining a robust governance culture.

Benefits

Private medical insurance

28 days annual leave

Generous pension scheme

Performance-related bonus plan

Qualifications

• Experience managing a high-performing team.
• Ability to deliver change and drive improvement.
• Excellent technical knowledge of derivatives operations.

Responsibilities

• Lead and manage the Derivatives Operations Team.
• Ensure accuracy in Trade Support and Regulatory Reporting.
• Collaborate with Investments, Finance, and other departments.

Skills

Organisation skills

Communication skills

Commercial judgement

Persuasion skills

Problem-solving skills

Tools

MS Excel

MS PowerPoint

MS Word

Job description

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Pension Insurance Corporation ("PIC") provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

PIC is recruiting for a Derivatives Operations Manager to join its Investment Operations department. The purpose of this newly created role is to apply knowledge and insights concerning all derivatives operations activities and how these impact our policyholders. You will effectively collaborate with Investments, Finance, Risk and Origination to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate.

Specific accountabilities assigned to the role of Derivatives Operations Manager within the Investment Operations function:

• Lead and manage the Derivatives Operations Team ensuring Derivatives Operations activities are appropriately resourced with the correct knowledge and skillset to deliver the relevant and agreed outcomes for the function
• Define, maintain and demonstrate a robust risk, control and governance culture within the team. Maintain and oversee completion of procedures and task & control sheets. Chair regular team meetings
• Oversee effective and accurate completion of core Derivatives Operations tasks: Trade Support - capture, transmission, confirmation, settlement Regulatory Reporting - EMIR, SFTR, Solvency II Collateral Management & Optimisation - OTC, Stock Lending, Reinsurance. Derivatives Valuations
• Manage performance of direct reports within the team. Elevate talent to develop and enhance both technical and non-technical skills required to deliver a strong and purposeful team
• Prepare comprehensive Management Information and Key Performance Indicators for discussion with senior management and at appropriate forums
• Take a leading role in relationships with external service providers to ensure service standards are maintained or exceeded
• Maintain a culture of continuous improvement. Seek to improve existing process and procedure. Empower and challenge the team to deliver improvements. Manage change to deliver improvements effectively and on time
• Collaborate with the projects team to contribute resource and subject matter expertise to firm-wide projects. Manage resourcing requirements accordingly
• Effectively collaborate with other mangers in the Investment Operations team and key stakeholders in other teams, including the Investments, Finance and Originations teams
• Take ownership for own learning and development in both technical (e.g. data analysis and critical judgement) and non-technical (self-insight and relationship management) skills of Derivatives Operations
• Keep informed of industry trends, market developments, regulatory changes in the public and private sectors, as well as best practices related to derivatives by attending industry seminars, reading and sharing relevant published articles
  
  

Requirements

Experience:

• Management of an established and evolving team of experienced and high performing individuals
• Experience of delivering change and projects, and in working closely with Investment teams
• Experience using Aladdin
• Experience working in a banking, asset management, insurance or hedge fund environment
• Derivatives/instruments including: IRS, RPI, LPI, CCSW, TRS, Bond Forwards, Repo
  
  

Knowledge:

• Excellent technical knowledge of end-to-end derivatives operations, including: trade support, confirmation, collateral management & optimisation, derivatives valuations and regulatory reporting.
• Derivatives regulation, including EMIR, SFTR and Solvency II
• Derivatives documentation, including ISDAs, CSAs, CDEAs, GMSLAs, GMRAs
• Pensions, Reinsurance and LDI strategies
  
  

Skills:

• Strong organisation skills and communication skills
• Ability to persuade and influence both directly and indirectly
• Ability to manage people and other resources effectively
• Ability to organize work to meet deadlines
• Commercial judgement
• Good working knowledge of MS Excel, MS PowerPoint, MS Word and Market utilities such as MarkWire
  
  

Desirable personal attributes aligned to what success looks like in the role:

• Intellectually curious with a willingness to learn through own research
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
• Effective communicator - structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies
• Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance
  
  

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Other

• Industries

  IT Services and IT Consulting

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