Senior Associate, Collateral

Position Title: Senior Associate, Collateral
Location: Toronto (Hybrid – currently 2x/week in office, with potential increase up to 4x/week)
Start Date: ASAP
Assignment Duration: 12 Months (possibility of extension)

Interview Process:

• 1st Round: VBA Test
• 2nd Round: Interview with Hiring Manager and another Manager
• Possible 3rd Round if required

Position Mandate
Under the direction of the Director of the Collateral Management Group (CMG), the Senior Associate, Collateral will provide subject matter expertise and hands-on execution in OTC derivatives margin processing.
The role will support and guide junior team members (Level 6 and below) but is not a direct managerial position. Previous team lead experience or having worked as a senior associate providing guidance is considered an asset.
The Senior Associate will contribute to day-to-day OTC & Repo Margin Operations (Ops) and Portfolio Reconciliation activities, while also supporting special projects within CMG. Key Responsibilities
Core Accountabilities

• Perform hands-on OTC derivatives margin processing (primary focus).
• Ensure adherence to established controls for reconciliations, valuation and margin call disputes, dispute resolution, and escalations to ensure compliance with regulatory and bank policies.
• Support portfolio reconciliation activities related to Repo/Reverse Repos and Non-Centrally Cleared OTC Derivatives.
• Provide guidance to junior team members (Level 6 and below) on processes, dispute resolution, and technical matters.
• Act as a subject matter expert on collateral management, securities financing transactions, and dispute escalation.
• Participate in the implementation, testing, and transition of new vendor systems, upgrades, and migrations.
• Support the delivery of regulatory requirements, including Reg VM, Reg IM, and dispute resolution processes.
• Ensure compliance with CMG, Repo Financing Guidelines, and the Bank’s P&Ps (policies and procedures).

Risk & Control

• Review daily margin activity and audit reporting to ensure accuracy and compliance.
• Monitor reconciliation reports, dispute resolution logs, and proactive reconciliation reports, escalating issues as required.
• Ensure strict adherence to risk management frameworks, regulatory obligations, and escalation procedures.

Collaboration

• Partner with internal stakeholders such as Valuation Product Control, Credit Risk, Portfolio Management, Front Office, and Derivatives Legal Group.
• Engage with external counterparties, regulators, and auditors as required.
• Represent BMO in industry forums to stay current on market and compliance developments.

Knowledge & Skills
Education & Experience

• University degree/college diploma or equivalent work experience.
• 6–8 years of related work experience.
• Previous Canadian banking experience required.
• Middle office experience required.
• Experience in a team lead or senior associate role providing guidance is a strong asset.

 
Technical Skills

• Advanced VBA (testing required in 1st round interview).
• Advanced Microsoft Excel and database management skills.
• Solid knowledge of OTC derivatives, securities financing transactions, and collateral management risk/regulatory requirements.
• Strong knowledge of portfolio reconciliation best practices.
• Familiarity with CMG processes, controls, and standard desktop applications.

 
Soft Skills

• Strong problem-solving, analytical, and decision-making skills.
• Ability to prioritize and multi-task in a fast-paced environment.
• Excellent communication, relationship management, and influence skills.
• Strong risk management and conflict resolution abilities.
• Collaborative team player with coaching and mentoring capabilities.

 

At SPECTRAFORCE, we are committed to maintaining a workplace that ensures fair compensation and wage transparency in adherence with all applicable state and local laws. The pay rate for this position is $58.66/hr.