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This position is responsible for providing accurate and timely portfolio administration and reporting for derivative transactions. Primary accountabilities include monitoring, identifying and resolving any issues related to daily variation margin calculation, confirmation, settlements and processing instructions related to the futures, swaps, and option products. Derivative transactions include swaps, options and futures. The individual will assist the Manager and provides backup coverage for the team as needed. Maintain book of record for daily derivatives transactions data used for trade settlement, asset mix reporting, performance measurement, reconciliation and general ledger purposes.
•Ensure accurate and timely settlement of variation margin and broker cash wires and record the relevant entries in portfolio management book of record system. Monitor transmission of trade instructions to clearing brokers and receipt of trade confirmations from executing brokers, investigating and troubleshooting where necessary to resolve issues.•Perform various daily, weekly and monthly reconciliations and related investigations and pursue resolution of discrepancies to ensure accuracy of financial data and reasonability of valuations.•Document recurring reconciliation discrepancies with the clearing brokers for the futures program and assist the Manager in finding solutions where possible.•Administer the transaction ticket process for all derivative transactions and ensure appropriate sign-off has been obtained from the Investment Division on a timely basis.•Monitor the daily trading activity for derivative products assigned (futures, swaps, and options) and prepare package for review.•Prepare analysis, continuity schedules and special reports; resolve discrepancies and issues as assigned.•Provide backup coverage for specific derivative operational functions.•Perform first-level of review of ISDA confirmations for OTC derivatives and flag all unusual matters to the attention of the Manager.•Maintain up to date knowledge of OMERS policies regarding derivatives, valuation, trading and signing authorities and apply to daily activities to ensure compliance.•Enhance and update existing desk documentation of policy and procedures.•Participates in the maintenance of the system of internal control, which ensures integrity over the data relating to investment transactions, safeguarding of assets, cash movements, income collection and market valuation.•Identify, recommend and assist in implementing processes/controls/productivity improvements including automation of current manual processes. Responsible for documenting required changes for approval.•Participate in the implementation of new processes and systems, and assist in user acceptance testing.•Develop and maintain a strong understanding of derivative products and customer needs in order to respond quickly and accurately to questions and problems that arise.•Develop and maintain appropriate relationships with other teams within Investment operations, the Investment Division, OMERS Investment Entities, Counterparties, Custodian and Auditors as appropriate.•Maintain and update filing records and co-ordinate offsite storage.•Participate in projects and other duties as assigned.
•Minimum Education: University degree or equivalent. •Minimum 2-3 years experience in Investment Operations with emphasis in derivatives products including futures, foreign exchange contracts, options and swaps.•Strong Excel skills required. Exposure to derivative trading and portfolio management systems, including Bloomberg would be an asset.•Experience with one or more leading derivative trade capture systems (Murex, Calypso, Findur, Summit, Opics)•Ability to prioritize multiple responsibilities to meet deadlines.•Familiar with investment accounting and marketable securities as well as audit practices.•Excellent interpersonal skills, attention to details and strong customer-service orientation.•Detail oriented and demonstrated aptitude for analysis and problem solving.•Works well independently and in a team environment.