job summary: Summary: The main function of the Collateral/Margin Operations unit is to mitigate exposure to counterparty risk on OTC derivative trades.The analyst will be expected to be a team member of the Collateral Operations Unit, which monitors daily margin for customers across various products (Rates, Commodity, Structured Credit, Equity, and Foreign Exchange). Counterparty net exposure is evaluated each morning in order to determine collateral requirements. Deliveries and Responsibilities The Collateral Unit interacts with a variety of different groups within the Client:Back Office/Middle office Operations - stores copies of all confirmations of each transaction and can verify market values and rate for individual tradesCorporate Treasury/Global Securities Operations - determines collateral allocation and delivery of securitiesCash/Wire Transfer - send/receives cash collateralMarketers/Traders - trade and market derivatives with Financial Institutions and Corporate CustomersCredit - monitors credit exposure on derivativesCapital Markets Documentation - negotiates the collateral agreementsDue to the amount of interaction with our counterparts and other groups, excellent communication skills are necessary. An open flow of communication, specifically relating to new issues or problems, is necessary between team members. The ability to read and interpret a Credit Support Annex is a priority as discrepancies and reconciliations are a regular part of the business.Aside from daily position monitoring and counterparty contact, the analyst will be required to investigate mark discrepancies, maintain current procedure manuals and look for methods of improving efficiency. Additional responsibility will arise as projects are mastered and time permits. As our landscape is changing with the implementation of Dodd-Frank Act the ability to adapt to change is a must and gives opportunity to learn. Required Skills: A basic understanding of financial markets and derivative productsA basic understanding of financial markets documentation (ISDA, IFEMA, PSA)communication skillsCollege degree or related experienceBasic Excel skillsAbility to meet deadlines, handle high pressure situations, and juggle multiple tasksDetail oriented -specifically the ability to recognize unusual flows/triggers for collateral in agreements and new trade structures Other Qualifications: Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutionsExcels in working among diverse viewpoints to determine the best path forwardExperience in connecting with a diverse set of clients to understand future business needs - is a continuous learnerCommitment to challenging the status quo and promoting positive changeParticipate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client baseBelieves in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world location: Chicago, Illinois job type: Contract salary: $21 - 31 per hour work hours: 8am to 5pm education: Bachelors responsibilities: The Collateral Unit interacts with a variety of different groups within the Client:Back Office/Middle office Operations - stores copies of all confirmations of each transaction and can verify market values and rate for individual tradesCorporate Treasury/Global Securities Operations - determines collateral allocation and delivery of securitiesCash/Wire Transfer - send/receives cash collateralMarketers/Traders - trade and market derivatives with Financial Institutions and Corporate CustomersCredit - monitors credit exposure on derivativesCapital Markets Documentation - negotiates the collateral agreements qualifications: Experience level: ExperiencedMinimum 6 years of experienceEducation: Bachelors skills: OPERATIONS SUPPORTOperations Equal Opportunity Employer: Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status. For certain assignments, Covid-19 vaccination and/or testing may be required by Randstad's client or applicable federal mandate, subject to approved medical or religious accommodations. Carefully review the job posting for details on vaccine/testing requirements or ask your Randstad representative for more information.