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We are PIMCO, a leading global asset management firm. We manage investments and develop solutions across the full spectrum of asset classes, strategies and vehicles: fixed income, equities, commodities, asset allocation, ETFs, hedge funds and private equity. PIMCO is one of the largest investment managers, actively managing more than $1.91 trillion in assets for clients around the world. PIMCO has over 2,800 employees in 17 offices globally. PIMCO is recognized as an innovator, industry thought leader and trusted advisor to our clients.
PIMCO is one of the worldâ€™s premier fixed income investment managers with thousands of professionals around the world united in a single purpose: creating opportunities for our clients in every environment. Since 1971, we have brought innovation and expertise to our partnership with the institutions, financial advisors and millions of individual investors who entrust us with their assets. We aspire to cultivate performance and leadership through empowering our people, diversity of thought, and a commitment to an inclusive culture that engages in our global communities.
ABOUT THE ROLE This position is part of our Investment Operations group focusing on collateral management, counterparty risk, and derivative confirmations and represents an opportunity to learn and contribute to PIMCOâ€™s operational risk management. As a Derivatives Operations Specialist or Manager, you will be primarily responsible for assisting with the daily margin and derivative confirmation processes, leading projects and initiatives, and participating in industry working groups. This position requires assertiveness, acute attention to detail, and an aptitude for managing multiple competing priorities with minimal oversight or direction. Additionally, this position requires agility in a challenging and fast-paced environment. Counterparty risk is an area of intense focus and new ideas at PIMCO, of which you will be an integral part. This function will require daily verbal and written interaction with Portfolio Managers, Trade Assistants, Risk Management, Legal & Compliance, PIMCO counterparties, and State Street IMS.
RESPONSIBILITIES Key responsibilities include, but are not limited to:
Gathering data on counterparty risk and its underlying components from internal systems as well as Broker/Dealer counterparties
Building and/or supporting the development of metric reports that pinpoint areas or risk to be presented to senior management
Assisting in the daily margin and reconciliation process for all derivative products
Pro-actively seeking and driving opportunities to improve collateral optimization and increase efficiency
Supporting and/or managing electronic confirmation workflow and novation consent process via DTCC DS Match and Novation Consent Platforms
Reviewing and negotiating non-electronic ISDA Confirmations for a broad range of OTC Derivative products including Equity, Commodity, Foreign Exchange, Credit Derivatives, and Interest Rates
Actively participating in Industry and Regulatory initiatives and developments
Supporting and/or managing projects and directly contributing to the advancement of workflows, processes and risk management objectives
Development and maintenance of broker relationship oversight program
Minimum of a Bachelorâ€™s Degree
5-8 years of Investment Operations experience, preferably with a focus on derivatives
Prior exposure to equity derivative and prime brokerage highly desirable
Experience in project management that contributes to the advancement of risk management objectives
Basic to intermediate understanding of OTC derivatives, exchange traded derivatives, repurchase agreements, TBAs, and equity products are recommended.
Familiarity with ISDA, GMRA, and MSFTA documentation
Practical experience confirming OTC derivatives, preferably at a top tier investment bank or buy-side institution
Experience with issue resolution and escalation of trade breaks, disputes, and confirmation issues
Desire to participate in and lead projects and initiatives that overlap with other operational functions
Strong Excel skills and database knowledge
Ability to effectively communicate across an organization, including: Counterparties, Portfolio Managers, Risk Management and Legal Departments
Must have experience in managing processes, and prioritizing multiple tasks within a high paced, high pressure environment, and possess an acute attention to detail
Prior experience implementing relevant industry initiatives and developments to ensure the team remains on the cutting edge of legal requirements and best practices
Prior Management Consulting experience from a top tier consultancy focused on the Financial Services industry
Knowledge of DTCC DS Match, Markitwire, and Novation Consent Platforms desirable
PROFESSIONAL SKILLS REQUIREMENTS
Excellent communication (verbal and written), facilitation, and interpersonal skills, including the ability to face off across all levels of an organization
Strong team player; ability to partner effectively with multiple teams
Strong organizational and program management skills, including the ability to multi-task and manage a large number of ongoing initiatives
Strong analytical, problem solving, and troubleshooting skills
Demonstrated ability to deliver on assigned responsibilities through commitment to quality, impeccable attention to detail, and use of effective interpersonal and communication skills
Inquisitive self-starter, ability to flourish within the firmâ€™s demanding, fast-paced, and highly focused environment with shifts in priorities as business needs dictate
Strong ability to acknowledge and adapt to diverse styles, and cultures
Quick learner and adaptable to learn new processes, concepts, and skills
Demonstrated ability to navigate unstructured processes and simultaneously manage responsibilities of multiple-concurrent work streams and competing demands
PIMCO is committed to offering a comprehensive portfolio of employee benefits designed to support the health and well-being of you and your family. Benefits vary by location but may include:
Medical, dental, and vision coverage
Life insurance and travel coverage
401(k) (defined contribution) retirement savings, retirement plan, pension contribution from your first day of employment
Work/life programs such as flexible work arrangements, parental leave and support, employee assistance plan, commuter benefits, health club discounts, and educational/CFA certification reimbursement programs
Community involvement opportunities with The PIMCO Foundation in each PIMCO office