Investment Operations Specialist - Derivatives

Job Description

About Vanguard

Vanguard Australia has been helping investors achieve their long-term financial goals for over 20 years. With more than AUD $11 trillion in assets under management Vanguard is one of the world’s largest global investment management companies. In Australia we partner with institutional clients, financial advisers and individual investors to offer low-cost investment solutions. Our comprehensive range of managed funds, exchange traded funds (ETFs) and tailored investment solutions are built to support long-term investment success for our clients.

At Vanguard Investments Australia (VIA) we have a focus on increasing our efforts to serve Australian investors directly. As part of that journey we are working on an expansion of our offering to include superannuation. Australia has one of the best retirement systems in the world and we want to help make it better for all Australians. With significant global and local expertise in the retirement space, coupled with our disciplined, low-cost approach to investing we are committed to helping more Australians reach their retirement goals.

Our team and opportunity

The Derivatives Operations team manages derivative and collateral function, providing ‘gold copy’ derivative data to the Front Office to facilitate their portfolio investment decision making. Our function oversees daily derivative reconciliations, valuation and collateral instructions, with a focus on operational efficiency and output quality.

The team operates within a dynamic environment where learning and improving culture is prioritised. We also work with a number stakeholders and offer opportunity to develop skills on an industry standard derivative platform – Calypso.

We are now on the lookout for our next team-member to join our Derivatives Operations team. In this role, you will take ownership of the global daily operation to provide an accurate start of day and end of day derivative and collateral data to the portfolio managers. The role also plays a key role in the identification and escalation of potential control gaps and process improvements.

What you will do

• Provide oversight of Analyst and Senior Analyst activities and complete daily complex and high risk tasks to support the team’s production of gold copy derivative and collateral data.
• Serve as escalation point to resolve technical issues in a timely manner.
• Develop strong knowledge of funds and derivative products to understand end-to-end operational processes, and how they impact the portfolios.
• Participate in projects in relation to system migration, new processes, new products and funds, etc. Lead team through design and implementation of changes.
• Work closely with global Calypso product owner and global specialists to influence product road map and operationalise new product features.
• Build strong strategic relationships as a thought partner across the global IOPS community to resolve complex operational issues. Use and strengthen Finance network to accelerate issue resolution and improve quality.
• Develop depth of IOPS knowledge through increased functional experience and serve as a resource to the department to share expertise.
• Develop team’s expertise by coaching and on-the-job training

What we are looking for

• Experience developed in a similar investment operation, or similar role in a related financial services organisation. Minimum of three years related work experience.
• Excellent analytical capabilities, research, problem solving and time management skills required.
• Proficiency in Investment Operations procedures and knowledge of investment operations workflows preferred.
• Strong communication skills, both written and verbal, including the ability to develop relationships across the various stakeholders including senior business executives
• Ability to be flexible in a dynamic environment, be a self-starter with ability to learn quickly organize and prioritize work and meet the clients expectations.
• Excellent judgment and proven ability to analyse issues quickly and independently to take appropriate action under tight time constraints.

Specialisations that will make an impact

• Undergraduate degree required. Graduate degree and / or Professional Certification (CFA, MBA) preferred
• Experience with Calypso either in collateral or valuation capacity.
• Experience of Investment Operations (Trades, Cash and/or Derivatives), reconciliations and transaction lifecycle management.
• Understanding of cleared and OTC derivatives / collateral / fixed income and equity securities and other instruments.
• Leading projects and change management experience

Inclusion Statement

Vanguard’s continued commitment to diversity and inclusion is firmly rooted in our culture. Every decision we make to best serve our clients, crew (internally employees are referred to as crew), and communities is guided by one simple statement: “Do the right thing.”

We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew to contribute their distinct strengths to achieving Vanguard’s core purpose through our values.

When all crew members feel valued and included, our ability to collaborate and innovate is amplified, and we are united in delivering on Vanguard’s core purpose.

Our core purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.

Where to from here?

If you would like to discuss further please contact Richard Maher from our Talent Acquisition team on [email protected].

Future of Work

During the pandemic, we transitioned to a work from home model for the majority of our crew and we continue to interview, hire, and on-board future crew remotely.

As we have developed the path forward, we have taken a thoughtful approach that both maximizes the advantages of working remotely and the many benefits of coming together and collaborating in a shared workspace. We believe that in-person interactions among our crew are important for preserving our unique culture and advantageous for the personal development of our crew.

When our Crew return to the office, many will work in our hybrid model. A smaller proportion of our crew will operate in the Work from Home work model (for example, field sales crew); or in the Work from Office model (for example, portfolio managers).

The working model that your role falls into will be communicated to you in the interview process – please do ask if you are unsure. We encourage you to make the decision regarding your job interview and offer knowing which model your role will fall into. We will test and learn as our ways of working evolve and will continue to evaluate working models along the way.