OTC Settlements Utility Manager – Strategic Implementation

Description UBS is a client-driven global financial services firm. Our leading investment banking and securities business provides a broad range of products and services to our corporate and institutional clients, governments, financial intermediaries and alternative asset managers.DescriptionThe OTC Settlement Utility is a global team of 150+ (on & offshore) members whose responsibilities are related the Pre and Post settlement aspects for all OTC Derivatives products. Pre-settlements functions include calculation settlements amounts, creating reset / payment advices, confirming cash flows with internal or external clients, paying or receiving the funds and communicating errors with front office and Post-Settlements includes investigating cash breaks, analyzing their root causes, resolving breaks with internal or external clients, looking at p/l breaks with AVI team, and posting manual accounting entries when necessary. This utility is also responsible for managing all the associated technology and market initiatives relating to settlements and works with the various Specialized Processing Groups (SPGs) in ensuring the appropriate settlement of all Rates, Credit, Equity & Loan Derivatives.This position is a leadership role within a dynamic 4 person team responsible for OTC Settlements utility Strategy. This team works on several key aspects impacting the Cost management, Change management, Risk and Vendor management aspects of the utility and is responsible for implementation of the strategic deliverables in these areas across the Settlements organization globally. As the manager of the team, the individual is responsible for liaising across multiple cross-functional teams within the Operations organization to drive towards the achievement of these goals and will be responsible for providing a view to the rest of the organization on behalf of the OTC Rates / Credit / Equities / Loan Product sets. The right candidate will hold a holistic view of how OTC Settlement Utilities’ activities contribute to achieving goals of the wider operational strategy and be knowledgeable on the key drivers behinds OTC Derivative settlements activity. The candidate will be able to drive through process, technology and cultural change across the organization and work with the team work towards creating the Settlements organization of the future. With a strong metrics driven mindset, the individual will drive the team towards mitigating Risk within the settlement area, co-operating with Risk and Control Group under agreed SLAs, and promote a strategically driven Change function with a sound understanding of the F2B derivatives flows. With a good understanding of the recent changes in the Derivatives settlements space, manage key internal and external service providers, and understand and look to mitigate the costs attributed to the entire Settlement Utility function. Activities will include, but not be limited to the following:Risk Management: To establish and maintain an effective governance and control framework which actively promotes and develops a culture for risk management through the implementation of globally consistent, transparent and measurable control standards across the Settlements Utility.Change Management: Under clear Change strategy within OTC Settlements Utility, to implement changes of process and systems in more effective and controlled manner by following a pre-defined framework and model and to actualize estimated benefit by playing a coordinating role between Setts utility and Change organization Management of Service Providers: To recommend and implement actions to enhance the relationship between Settlements Utility and Service providers by setting clear expectation and keeping their performance consistent and the progress transparent, realize concrete benefits to the business, and ultimately reduce costs incurred by the Utility Cost Management: To understand the current cost base, plan future target through cost savings from various sources, control cost associated factors within settlement utility, and make decisions that would increase value for customers and lower costs of services The candidate will work closely with line mangers and business managers within OTC settlements team, Risk and control Group, Central Offshoring Group, financial controllers, COO, various Change The Bank groups, and Group Offshoring team, to understand each stakeholder’s needs and ensure the link is made among various stakeholders. Therefore, the candidate will be expected to have excellent communication and influencing skills due to the high level of interaction with internal stakeholders and different UBS departments. Excellent time management skills are also required as the candidate should be working in multi-taking environments. The candidate must work well under intense time pressure, keeping enthusiasm and self-motivation.This vacancy provides an excellent opportunity for the right candidate to build strong understanding of UBS's vendor, risk, change, and cost management processes, develop commercial acumen and system skills and increase Bank wide personal exposure to other UBS departments. The candidate will be expected to have at least 7+ years experience with at least 3 in a management role, preferably in the Financial Services/Derivatives Industry, and have prior experience in risk, vendor, change, and cost management.Requirements

Undergraduate Degree

Minimum seven years of relevant experience

Minimum four years Change Management Experience

Minimum four years in a supervisory capacityPreferred Qualifications

Masters Degree

Derivatives ExperienceOur OfferingUBS can offer you an environment geared towards performance, attractive career opportunities, and an open corporate culture that values and rewards the contribution of every individual.It starts with youWant to further your career in a global organization that values individual talent? Apply now at www.ubs.com/careers. We look forward to hearing from you.Disclaimer / Policy StatementsUBS is an equal opportunity employer. We respect and seek to empower each individual and the diverse cultures, perspectives, skills and experiences within our workforce.