Job description

Crédit Agricole CIB (CA-CIB) Canada is the home of Crédit Agricole CIB Canada Branch and Crédit Agricole Services & Operations.

The Canada Branch has offices in Montreal and Toronto providing financial services to Canadian Financial Institutions, Banks, Pension Funds & SSA and to large Canadian headquartered international corporations.

Crédit Agricole Services & Operations is hosting a part of all Crédit Agricole CIB’s support functions, from KYC, Back Offices, Risk, IT, Legal or Finance supporting our growing operations in the Americas and complementing our European and Asian operations platforms in a “follow the sun” approach.

When you join CA-CIB Canada, you are joining a certified Great Place to Work employer, and a highly engaged workforce.

Summary:

The Middle Office Associate is responsible for executing and monitoring margin calls and interest according to the parameters established in the contracts, with management systems varying between COMET/DRACCAR for derivatives and bond repos, APEX for bond lending/borrowing, and SFCM for equity lending/borrowing. It is also in charge of reconciling positions with counterparties, monitoring and escalating issues regarding counterparties with discrepancies or unusual counterparty behaviors, and executing and monitoring reporting, particularly MtM (Mark-to-Market) reports.

Team's main tasks:

1) Capture of collateral contract terms

• Configuration of collateral contracts in management tools
• Management of the collateral contract lifecycle (amendments, closures, modifications, etc.)
• Participation in collateral contract negotiations in case of non-convergence with our standards
• Ensure completeness of configurations through reconciliations between management systems and the legal database

2) Margin call management

• Notification, confirmation and booking of margin calls in COMET for bond repos and OTC derivatives, in APEX for bond SLB and in SFCM for equity repos and SLB (NY time zone)
• Contact with Front Office to borrow securities posted as collateral
• Coordination with BO payment teams for margin call settlements
• Analysis, monitoring and resolution of payment suspense items (cash and securities)
• Analysis of collateral balances
• Coverage of non-standard collateral operations (Secured Deposits, Secured Notes, Secured Loans, etc.)

3) Controls and reconciliations

• Margin call controls: Notifications sent, amounts booked in the tools
• Margin call reconciliation
• Implementation of regulatory reconciliations in management tools for uncleared OTC Derivatives (COMET/Trioptima)
• Execution of portfolio reconciliations in Trioptima and EXCEL (regulatory and in case of margin call disputes)
• Investigation of significant MtM variations and breaks identified in reconciliations (MtM or inventory discrepancies)
• Daily reporting and monitoring of discrepancies and disputes detected

Complément

4) MtM Reporting
Sending of MtM reports for NY time zone clients (Daily, weekly or monthly)
Monitoring of DFA daily marks operations/clients
Management of audit requests on market operations

5) Projects, processes and procedures
Participate in improvement projects in collaboration with Paris teams (including UAT)
Formalize and document the various processes

6) Transverse
Reporting activities (Internal–KPI, KRI – External to regulatory authorities/Market surveys)
Incident reporting process
Business development: provide opinions/analyses on NAPs, participate in UATs (system upgrades, new products, etc.)
Management of requests received from clients/other CACIB departments and escalation of any atypical request/situation


Management and Reporting:
Reports to the Head of Collateral Team

Key Internal Contacts
Legal Department, Back/MO Office, Front Office, MaM, Risks, IT Teams.

Key External Contacts
Clients' collateral departments (Banks, Hedge Funds, Insurances, Corporates)