Manager, Business Operations

Venture outside the ordinary - TMX Careers

The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets.

United as a global team, we're connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress.

Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.

Ready to be part of the action?

CDCC offers clearing and settlement services for all MX transactions and certain over-the-counter (OTC) derivatives. CDCC offers central counterparty and clearing and settlement services for all transactions carried out on MX's markets and on some OTC products.

Reporting to the Director, CDCC Business Operations, you will provide leadership, direction and relationship management support for CDCC Clearing Members while being accountable for the timely management and oversight of the following areas :

• Margin and Collateral Management;
• Member Clearing Services;
• Banking & Settlement including Netting cycles & Payment Exchange, End of day processing and oversight of financial obligations by Members to / from the CDCC;

Customer Service Helpdesk with ongoing client engagement and reporting.

You will have direct staff management and are accountable to plan, assign, and direct workflow as required. You are also responsible to attract, develop, train, evaluate and manage performance of the team and its individual members.

In this role, you are a subject matter expert in the Clearing & Settlement of the Montreal Exchange's suite of Derivative products - Futures & Options on Futures (Interest Rate, Index, Equity, Currency, etc.

and OTC Fixed-Income Repos. Furthermore, you are responsible for ensuring the continued and enhanced client satisfaction throughout the CDCC Clearing Sessions.

You are responsible to identify how existing products and services can bring further value to our clients by understanding current issues, processes, and long term needs, so that new products and services can be recommended and offered.

Your availability is critical to the management of daily Business Operations, adherence to policies and procedures as well as incident management and escalation to senior levels of both internal partners and external clients / vendors.

Key Accountabilities

• Provide guidance to the team for complex in-depth technical & analytical requirements for Collateral Management / Clearing / Banking & Settlements related to Derivatives (Futures & Options on Futures), OTC Fixed Income products, Corporate Actions and related products & services;
• Provide leadership and direction including decision making to Business Operations staff;
• Act as the central point of contact for clients and ongoing client engagement to ensure Member needs are met and solutions are provided;
• Oversee the management of Collateral (Cash & Securities) requirements to satisfy Intra-day & End-of-day Margin calls;
• Collaborate with the Montreal Exchange to ensure timely operationalization of new products / listings as well as client trades / position needs including ad-hoc and time sensitive requests;
• Foster strong relationships with Correspondent Banks, Depositories and Third-Party Vendors to ensure timely processing and that SLAs are met;
• Collaborate closely with other Team Managers to ensure positions, reconciliations and financial obligation deadlines by Members are met to mitigate Clearing House risk;
• Lead / Support / Build processes for new products and projects (including Onboarding new clients, performing testing, offering training, operationalizing initiatives and updating procedures);
• Support Business Operations testing requirements related to the Business Continuity Plan, Disaster Recovery Program, Default Simulations to meet CCP requirements;
• Maintain a strong relationship with Regulators, Internal and External Audit, Risk Management, CDS Operations, Client Services and Technology partners;
• Oversee strict adherence to Internal procedures, rules, audit requirements and the internal controls verification processes;
• Manage staff performance and provide staff coaching, training and development opportunities. Ensure succession planning is in place;

Support / act as delegate for CDCC Business Operations Management as required.

Education / Experience

University degree in Commerce, Business Administration, Finance, and / or Accounting is preferred;

8-10 years progressive operational / business experience in the Securities Financial Industry with at least 5 years in a management position.

Skills

• Excellent listening, written and verbal communication skills;
• Strong leadership, people management and mentoring skills; ability to develop people by helping them consider alternatives for dealing with situations;
• Excellent organization skills with the demonstrated ability to plan and prioritize in a time sensitive environment, acting decisively and calmly under pressure with attention to detail and understanding of the business operational process;
• Advanced level of technical and analytical knowledge of the Derivatives trade lifecycle and product features including the settlement, expiry process and system processing;

Excellent problem solving skills and ability to gather information through questioning and observation, identifying recommendations for risk mitigation in a continually changing environment.

• In-depth technical and analytical skills and ability to propose operational solutions and solve moderately complex problems specific to a project or assignment;
• Strongly proficient with Google Suite, Excel and other desktop applications;
• Excellent interpersonal skills with strong client orientation and ability to communicate timely & with clarity;
• Ability to effectively interact with individuals at all levels in various capacities among our Participants, Members, Issuers, Banks, Legal and Regulatory Offices and other high profile organizations;

Flexibility required to work in a time sensitive environment with tight deadlines.

In the market for

Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.

Connection - With site hubs in some of the world's most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.

Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth.

As well, our employee-led Team Impact spreads social good via our giving strategy.

Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger "we".

Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived!

Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.