Manager - Middle Office & Special Purpose Vehicle - Investment Banking

Designation: Manager (IC)

- Experience Range- Overall experience of 10-12 years with at least 4-6 years- experience within Investment Banking environment

Mandatory :

- Logical approach to problem solving and ability to priorities multiple tasks

- Proven analytical skills including data reconciliation and interpretation

- Strong attention to detail and accuracy with an ability to notice minor discrepancies / issues

- Ability to identify and deliver process improvements

- Can demonstrate good Excel skills (macros, formulas)

- Business knowledge with an ability to think out of the box,

- Prior understanding of Investment Banking industry

- Business Results: Client relationships, Analytical ability, Execution, Change leadership

Work Timings- Rotational (08:00am - 10:30pm, IST).

Job Location- Gurgaon

Process Overview-

SPV Middle Office is a control function. The team provides a consolidated view of all SPVs across Global Markets. A consistent control framework is applied across this population to ensure its integrity. Various operational functions relating to the issuance, lifecycle and termination of SPVs are integrated within this global over-sight function.

Given the inherent complexity associated with SPVs and the breadth of SPV MO's remit, associates within the team require an aptitude for structured products and a diverse appreciation of MO and BO functions.

The team is constantly looking to improve its existing functions as well as to review and flex its overall remit. Successful team members are inquisitive by nature, capable of devising innovative solutions and have the drive to enforce change.

Job Description-

Core team functions:

- Global SPV control and oversight - responsible for the integrity of the Global Market's SPV database.

- New business review

- Ongoing implementation and improvements to SPV regulatory controls (e.g. EMIR and Reg W)

- Co-ordination of SPV note settlements relating to new issuances, unwinds and substitutions.

- Instruction and co-ordination of SPV related cash in order to ensure SPVs are correctly funded.

- SPV account reconciliation - routine substantiation of balances held with the Paying Agents and custodian banks.

- Assistance with the generation of SPV financial audits

- Coordination of Corporate Action on both SPV notes and Charged Assets

- Communicate SPV notes coupon fixing.

- Support to strategic initiatives, implementation of tactical process improvements, ongoing review of the team's core functions

Responsibilities-

- Ensure global SPV population is captured accurately by monitoring trade activities and day-on-day changes of population, investigate any unexpected moves, liaise with the relevant line of business for verification.

- Maintain data quality of key parameters stored in SPV repository. Tasks include but not limited to daily business data integrity checks and stale charged asset price monitoring. Chair the monthly data quality call.

- Work with various business partners such as Legal, Market/Credit Risk, Front Office, Trade Support and Settlement and act as a focal point for SPV related queries and provide SPV specific operational guidance if required. Work closely with Market/Credit Risk and help them monitor SPV specific risks such as Charged Asset issuer concentration, collateralization and triggers.

- Coordinate SPV/charged asset bond settlement for new issues, unwinds and substitutions and ensure the smooth transaction. Investigate and resolve settlement related breaks in timely manner.

- Notify the paying agent of SPV coupon fixing and advise the paying agent how SPV coupon is funded. As typically being a swap counterparty to SPV, arrange settlement of swap cashflows and investigate/resolve/escalate cash breaks in timely manner.

- Facilitate the annual and financial audit and regulatory reporting such as EMIR and Reg W for SPVs in scope.

- Weekly SPV cash account reconciliation. Monitor and verify the balance moves in SPV account. Investigate any historical/new cash balance and substantiate or resolve breaks. Ensure unwound and matured SPV accounts are closed.

- Weekly and monthly charged asset balance reconciliation and reporting. Investigate, escalate and assist clearing breaks in a timely manner.

- Accurate and timely communication of SPV notes coupon fixing.

- Contribute to the strategic evolution of the SPV MO. Review existing workflows, whilst defining and implementing the long-term operating model.

- New business reviews. Conduct the due diligence in order to make informed decisions on whether to approve new SPV transactions.

- Process improvements. Drive the execution of new and existing projects. Identify new opportunities, plan, proceed and deliver.