Team Lead, Securities Lending & Collateral Management (12-month contract)
City : Toronto, Ontario, Canada
Category : Full time
Industry : Public Services/Utilities
Employer : Healthcare of Ontario Pension Plan (HOOPP)
Why you’ll love working here:
high-performance, people-focused culture
our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves
learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth
membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security
competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, and newly extended maternity/parental leave top of 26 weeks)
optional post-retirement health and dental benefits subsidized at 50%
yoga classes, meditation workshops, nutritional consultations, and wellness seminars
access to an annual wellness reimbursement program for health and wellness-related expenses for permanent and temporary employees
the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers
The Team Lead, Securities Lending & Collateral Management oversees the daily operational workflows and functions for the team within the Investment Operations department. This role is responsible for ensuring counterparty exposure is collateralized; all securities lending activity processed and monitored; and assists in managing the relationship with HOOPP’s custodian, counterparties, and vendors. The individual supervises a staff of eight and provides additional support to the Senior Director, Securities Lending & Collateral Management. This individual interacts daily with all levels of staff within Finance, Investment Management, external brokers, and HOOPP’s custodian.
Reporting to the Sr. Director, Securities Lending and Collateral Management the Team Lead is the subject matter expert of this team and has in depth knowledge of all strategies and investment products traded by Investment Management. The Team Lead also has detailed knowledge of all processes and procedures performed by the team and often serves as the first escalation contact, internally for Investment Management and other internal clients within HOOPP and externally with our various custodians and brokers. They must possess a broad understanding of functions outside of the department such as accounting, valuations and performance in order to understand and validate the impact of Securities Lending and Collateral Management functions on downstream processes. The Team Lead provides direction and guidance to all staff members. They are also responsible for overseeing staff members to ensure the accuracy, completeness and integrity of all investment data that is captured in HOOPP’s investment book of records, Simcorp Dimension as well as HOOPP’s external custodian, Northern Trust.
What you will do:
1. Oversees daily operational processes completed by the Analysts and Sr Analyst such as:
Determining investments available for deposit as collateral and reporting this data to Investment Management for investment decision making purposes.
Recording and reconciling on a daily basis the assets on deposit with multiple brokers from a collateral or securities lending perspective.
Instructing the custodian of any positions to be deposited with or returned by the brokers.
Processing of corporate actions on collateral, securities borrowing and lending position.
2. Ensure all daily, weekly, and monthly processes are completed within the prescribed timelines and where required sign off on completed work. This includes, but is not limited to:
Approve daily position reconciliations between HOOPP, brokers, and custodians.
Prepare monthly metrics reporting for management
Ensure all monthly securities borrowing and lending invoices, including cash collateral interest, are reconciled, completed, and approved within the prescribed deadlines outlined in the legal agreements
3. Act as an escalation contact for handling operational issues with internal and external stakeholders and identify when to further escalate the issue to the Sr. Director.
4. Assist the Sr. Director, Securities Lending & Collateral Management with supervision of staff by providing feedback for annual objective planning, development plans, and overall daily performance.
5. Coordinate staff task rotations while ensuring sufficient coverage and equitable account allocation. This includes collaborating with other Team Leads and recommending training plans within the team to facilitate task rotations and support business continuity.
6. Backup to the Sr. Director, Securities Lending & Collateral Management approximately 6 weeks per year.
7. Offer adequate support during staff shortages such as vacation coverage, absences, or staff reassignment to special projects and/or initiatives.
8. Act as the primary liaison on a day-to-day basis between HOOPP and the custodian to ensure the custodian is complying with the contractual service level agreements. Provide feedback into required service level revisions and participate in bi-weekly meetings.
9. Ensuring the effectiveness of internal controls and efficiency of manual procedures. This includes performing periodic reviews to procedures and processes to comply with ICFR and internal audit requirements.
10. Participate and contribute to operational changes and process improvements to maximize efficiencies through projects and/or initiatives. Process improvements could require coordinating Finance areas, IT and the custodian to automate and enhance system functionality, as well as ensuring effectiveness of internal controls and efficiency of manual procedures. This includes determining and documenting requirements as well as planning and conducting extensive user acceptance testing.
11. Act as a key participant in providing requirements for any relevant system implementation or enhancement projects including UAT testing for any system upgrades and patch activity.
12. Develops and maintain effective relationships with internal and external stakeholders to provide support and fulfill service delivery expectations. This includes providing accurate, consistent, and knowledgeable responses to queries and requests.
13. Ensure documentation related to key processes and procedures is up to date and maintained regularly.
14. Train, coach and motivate all team members.
15. Participate in the interviewing and hiring process.
16. Remain current on corporate and industry related information.
What you bring:
University degree in Business, Finance or related discipline
Minimum 8 years’ experience in financial sector, preferably in investment operations
Extensive knowledge of fixed income and equity markets, particularly trade and settlement processes and experience with dealing with external brokers
Strong knowledge of Collateral Management
Completion or enrolment in CFA program an asset
Skills and Abilities
Strong knowledge of derivative instruments such as swaps, FX forwards, options and futures gained through industry experience.
Experience with external custodial systems and reporting
Strong analytical skills and results oriented
Demonstrated strong negotiation skills
Demonstrated ability to initiate system and process enhancements
Attention to detail, accuracy, and completeness in critical processes along with the ability to handle multiple tasks efficiently
Ability to meet tight deadlines
Must be able to work independently with minimal direction as well as part of a team
Excellent interpersonal skills to facilitate communication with colleagues, senior management and external counterparties
Relevant computer literacy is mandatory