Company
Jefferies, the global investment banking firm, has served companies and investors for almost 60 years. Headquartered in New York with its European head office in London, the firm provides clients with capital markets and financial advisory services, institutional brokerage and securities research, and asset management. Jefferies provides research and execution services in equity, fixed income, foreign exchange, and a full range of investment banking services including underwriting, merger & acquisition, restructuring and recapitalisation and other advisory services, with businesses operating in the Americas, Europe and Asia.
Role Purpose
The Collateral Manager is responsible for the daily management of collateral and margin activities across a broad range of products, including OTC Equity and Fixed Income Derivatives, Securities Lending, Repo, and Exchange-Traded Derivatives. The role is critical in mitigating counterparty credit risk by ensuring the accurate calculation, agreement, settlement, and reporting of margin requirements and collateral movements.
Working within the Collateral Management Operations team, the successful candidate will partner closely with Trading, Middle Office, Settlements, Credit Risk and external counterparties to support the firm's risk management framework and operational excellence objectives.
Key Responsibilities
Collateral & Margin Management
- Manage daily margin processes across Securities Lending and Repo products.
- Monitor and reduce counterparty exposure through timely issuance, agreement, and settlement of margin calls.
- Investigate and resolve collateral and margin disputes with counterparties.
- Ensure accurate collateral allocation, settlement, and reconciliation activities.
- Monitor triparty collateral exposures and associated risks.
Risk Management
- Identify, escalate, and report significant collateral movements, unsecured exposures, and operational risks.
- Support the firm's credit risk mitigation framework through effective collateral management practices.
- Minimise inter-system and nostro reconciliation breaks and ensure timely resolution of exceptions.
- Maintain a strong focus on operational controls, risk awareness, and regulatory compliance.
Funding & Reporting
- Manage daily funding and payment processes supporting margin and collateral requirements.
- Produce and distribute collateral management reports to stakeholders, senior management, and risk functions.
- Provide analysis and commentary on exposure trends and key operational metrics.
Stakeholder Management
- Develop effective relationships with internal stakeholders including Front Office, Credit Risk, Legal, Middle Office, Settlements, and Operations teams.
- Act as a key contact for external clients and counterparties regarding collateral-related matters.
- Respond promptly to margin and collateral queries from both internal and external stakeholders.
Process Improvement & Change
- Support strategic initiatives and project delivery within the Collateral Management function.
- Identify opportunities for automation, efficiency improvements, and process optimisation.
- Review existing controls and workflows, recommending enhancements to mitigate operational risk and improve service delivery.
Skills & Experience
Essential
- Experience within Collateral Management, Treasury Operations, Securities Finance Operations, or a related Operations function.
- Understanding of margin management processes.
- Strong analytical and problem-solving capabilities.
- Ability to operate effectively in a fast-paced, deadline-driven environment.
- Excellent communication and stakeholder management skills.
- Strong organisational skills with a high level of attention to detail.
- Proficiency in Microsoft Excel and data analysis tools.
Desirable
- Knowledge of Securities Borrowing & Lending and Repo products.
- Understanding of counterparty credit risk and exposure management.
- Experience with collateral management platforms and reconciliation tools.
- Automation or process improvement experience, including use of VBA, Python, Power BI, Alteryx, or similar technologies.
- Project participation or change management experience.
Personal Attributes
- Strong ownership mentality and accountability.
- Collaborative team player with a proactive and positive attitude.
- Ability to challenge existing processes constructively.
- Resilient under pressure and capable of managing competing priorities.
- Client-focused with excellent relationship management skills.
- Continuous improvement mindset.
Key Relationships
Internal
- Trading Desks, Middle Office, Settlements, Credit Risk, Legal, Operations Management, Finance and Treasury Teams
External
- Institutional Clients, Broker Dealers, Triparty Agents, Counterparties
Success Measures
- Timely settlement and collection of margin calls.
- Reduction of unsecured counterparty exposures.
- Effective management of collateral disputes and exceptions.
- Accurate and timely management reporting.
- Minimal reconciliation and nostro breaks.
- Successful delivery of process improvement and automation initiatives.
- Positive feedback from internal and external stakeholders
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