Manager, Middle Office
4 weeks ago
MANAGER, MIDDLE OFFICE
Department: Finance & Facilities
Type: 15 Months Contract
Location: Toronto, ON
Posting Date: May 28, 2024
At OPTrust, _paying pensions today, preserving pensions for tomorrow_ is our mission and business.
When you choose OPTrust, you join a team of smart, talented people who fuel our success and have a passion for pensions. Everyone at OPTrust - from London, Toronto, and Sydney - makes a meaningful impact, our environment is fast paced, but we find time to have fun and give back to the community as well. Our strength resides in our team members with different backgrounds and perspectives creating an inclusive and fulfilling place to work for everyone.
What OPTrust Offers You- Unique culture rooted in our core values - collaboration and teamwork, integrity, respect, flexibility, and excellence and continuous improvement - reflected across the team.- Dedicated business strategy for inclusion, diversity and equity with multiple, meaningful opportunities to participate.- Flexible, hybrid work model being implemented to balance the benefits of working from home and the collaborative teamwork experience in the office.- Optional membership in our world-class defined benefit pension plan.- A purpose-driven environment, including the opportunity to contribute to OPTrust’s climate change and responsible investing programs.- Comprehensive benefits package.
About the Role
This role acts as the primary liaison with the external Middle Office provider, which performs critical functions such as: trade affirmation/matching, fail management and break resolution, corporate action processing, valuation, wire execution; and collateral management. This role ensures that the internal public market portfolio’s end-to-end operational processes are effectively managed. This role is critical as it is responsible for the critical management of an effective Business Continuity Program (BCP); to ensure adequate coverage for the mandated daily reconciliation processes. In addition, the incumbent must proactively manage the that the external Middle Office provider, to ensure they are delivering as specified in the Statement of Work (SOW). The incumbent must possess both strong investment knowledge and the understanding of financial concepts as it relates to the Middle Office and standard financial recording functions. This role plays a key role in the implementation and maintenance of the MDI internalization efforts.
What You’ll Do- Provide managerial oversight of the Middle Office team, including prioritization and direction of their assigned work.- Consult with investment and finance teams on business plans, direction, and identification of opportunities to better processes and improve efficiencies.- The incumbent works closely with the front office, external middle office and back-office functions to facilitate communication and issue resolution as required.- Coach, mentor, and drive team in achieving departmental plans and priorities as well as organizational goals and objectives.- Responsible for the development and management of team members which includes goal setting, career development, performance appraisals and feedback.- Subject matter expert especially as it relates to the management of the third-party vendor activities and scope of work.- Responsible for an effective function including the management of strategic initiatives and business priorities working toward a scalable and highly effective management model.- Ensure that Service Levels Agreements / SOW are being met.- Support any adhoc analysis required.- With the support of other business departments, define and periodically refresh SOW and standards; define and manage KPIs.- Drive the sharing of ideas, fostering collaboration and innovation across the teams.- Consistently ensure a focus on implementing value-add processes and control improvements.- Responsible for the effective communication of significant changes, updates and challenges to respective departments and management in a timely fashion.
What You Bring- University Degree in mathematics, finance, computers, statistics, commerce, or other equivalent quantitative discipline.- Completion of CFA or comparable financial designation.- Minimum 8 years of relevant experience and understanding of Middle Office and investment operations (i.e. cash management, trade matching and support, settlements, and other related processes).- Demonstrated experience in people management experience (5+ years) to lead, manage and develop professional staff.- Effective investment knowledge preferable in the pension industry; knowledge of public markets, investment transactions, trade lifecycle and asset classes as well as back-office operations.- Effective knowledge of regulatory reporting requirements.- Demonstrated ability to develop recommendations and implement policies and controls for financial processes.- Effective interpersonal skills and collegial attitude at all levels including both
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