Collateral Optimization Trader

Job Title Collateral Optimization

Corporate Title Vice President

Location New York, NY

Overview

The Deutsche Bank Collateral Optimisation Group (COG) sits within Core Rates Trading which is part of the Investment Bank (IB). The COG trading desk is responsible for the determination and delivery of the eligible assets to post against outstanding derivatives exposure, to mitigate and protect the bank from Counterparty Credit risk. The COG desk is responsible for ensuring the efficient posting of Collateral for all OTC Bilateral and Cleared derivatives traded by all derivatives trading desks across the IB with the mandate to optimise the Trading Profit and Loss, Balance Sheet and Infrastructure costs.

The desk liaises with the margin managers to ensure efficient allocation and substitution of collateral, as well as engaging with Sales and Trading to look at new client transactions where the eligible collateral is a key factor in the possible structure.

What You'll Do

• Day to day management of the Collateral posted both to the Bank’s bilateral counterparts and Central Counterparty Clearing Houses (CCPs)
• Understand the balance between cheapest to deliver and balance sheet impact in order to ensure that Collateral received from third parties is used efficiently, and at the same time ensure that Collateral posted to third parties (including CCPs) is the cheapest to deliver
• Evaluating assets that are posted/received, along with evaluating the options available and choosing the path that creates the right mix of cost/balance sheet efficiency for the Bank
• Taking ownership of P&L and balance sheet to constantly endeavor to minimize cost
• Help evolve the Collateral function to face incoming regulation and market structure changes
• Responsible for managing the balance between algorithm driven optimization and client expectations, making a positive impact on the Bank’s PnL and balance sheet by working with Trading, Sales, Strats, Operations and Information Technology to improve delivery of a more efficient Collateral solution for the Bank

Skills You'll Need

• Knowledge of products such as OTC across Rates, Credit and Equities
• Understanding of yields and cheapest to deliver to optimise securities pledged/received
• Knowledge of asset classes/market conventions for Collateral types
• An understanding of Repo/Reverse Repo and Money Markets (Loan/Deposits) trading
• Ability to work strategically to solve problems in a complex Global environment
• Relevant education such as a Bachelor of Science (BSc)/Master of Science (MSc) or the equivalent work experience or qualifications

Expectations

It is the Bank’s expectation that employees hired into this role will work in the New York, NY office in accordance with the Bank’s hybrid working model.

Deutsche Bank provides reasonable accommodations to candidates and employees with a substantiated need based on disability and/or religion.

The salary range for this position in New York City is $160,000 to $205,000. Actual salaries may be based on a number of factors including, but not limited to, a candidate’s skill set, experience, education, work location and other qualifications. Posted salary ranges do not include incentive compensation or any other type of remuneration.

Deutsche Bank Benefits

At Deutsche Bank, we recognize that our benefit programs have a profound impact on our colleagues. That’s why we are focused on providing benefits and perks that enable our colleagues to live authenti­cally and be their whole selves, at every stage of life. We provide access to physical, emotional, and financial wellness benefits that allow our colleagues to stay financially secure and strike balance between work and home. Click here to learn more!

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