Margining Senior Analyst, Centrally Cleared Counterparties and Over The Counter (London)

Job Description

What is the opportunity?

You will be responsible for margin activities across Centrally Cleared Counterparties (CCPs) and OTC derivative counterparties in support of RBC's clearing and collateral obligations.

This function sits within the Collateral Management team under the COO Group – Funding, Liquidity & Payments (FL&P) team at RBC. Your core purpose is to ensure that all CCP and OTC transactions remain fully collateralized, with timely settlement of margin obligations and rigorous control standards maintained throughout the trading day.

You'll manage daily margin functions while serving as a central point of contact for the FL&P team and navigating RBC's structure to expedite resolutions.

Should you be shortlisted, do please let us know if you have any specific requirements for the interview.

This is a permanent, full-time role and requires 4 days in the 100 Bishopsgate, London office.

What will you do?

• Manage margin settlement across CCP and OTC bilateral counterparty relationships, processing daily margin calls with all CCPs where RBC maintains direct clearing relationships and agreeing margin requirements with OTC counterparties on a daily basis in line with the terms of the CSA agreement.
• Ensure timely settlement of margin obligations whilst maintaining rigorous control standards throughout the trading day, with clear escalation protocols in place for any exceptions or discrepancies.
• Perform control checks at key points in the settlement workflow and maintain disciplined escalation protocols to flag any operational risks or delays that could impact margin funding or regulatory reporting obligations.
• Understand how daily margin postings affect the General Ledger and ensure accurate reconciliation of GL accounts in line with RBC's financial control procedures, particularly around month-end and EOM attestations.
• Analyse external CCP statements and reports to extract key data elements, translating complex external reporting formats into RBC's daily procedures and systems to facilitate accurate payment settlements and accounting bookings.
• Support portfolio reconciliation with counterparties when margin disputes arise and investigate margin settlement fails, liaising with external clients and internal teams to reach resolution.
• Act as a central point of contact for all COO Group – FL&P teams, navigating RBC's structure efficiently to expedite queries and requests through to resolution.
• Collaborate with your line manager on all CCP/OTC technology requests (tactical and strategic), liaising with solutions, change and technology teams as required.

What do you need to succeed?

Must-have

• A good understanding of the daily margin lifecycle and requirements of both the main clearing houses and OTC bilateral agreements, covering both Initial Margin and Variation Margin obligations.
• A working knowledge of vendor systems and solutions such as Murex, Apex, Colline, Acadia, and LCH Portal, combined with overall knowledge of the main CCPs (LCH, Eurex, CME, ICE Clear).
• Proficient in analysing CSA terms and agreements that are applicable to daily margining.
• A broad knowledge of one or more regulatory regimes, including CASS, Transaction Reporting, MiFID II, and EMIR.
• A good understanding of finance and accounting principles, including how daily margin postings affect the General Ledger and the reconciliation of GL accounts.
• Experience of checking and reconciling accounts, with general familiarity of how banking operations work.
• Comfortable working with traders and responding to client requests in a calm and logical manner.
• Strong attention to detail, the ability to work independently and as part of a team and to work well under pressure.
• Strong Excel skills.

Nice-to-have

• Prior experience with EOM attestations and month-end financial close processes.
• Knowledge of Repo and Securities Lending products and their operational workflows.
• Experience using collateral systems like Pirum/Equilend/TriResolve.
• Familiarity with AI-assisted tools for automating routine tasks, document generation, or knowledge retrieval in a financial services or operational environment.
• Broad knowledge of Securities settlements across ICSD’s and local markets.

What is in it for you?

We thrive on the challenge to be our best - progressive thinking to keep growing and working together to deliver trusted advice to help our clients thrive and communities prosper.  We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses, flexible benefits and competitive compensation
• Leaders who support your development through coaching and managing opportunities
• Opportunities to work with the best in the field
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• A world-class training program in financial services.

Agency Notice

RBC Group does not accept agency resumés.  Please do not forward resumés to our employees, nor any other company location.  RBC Group only pay fees to agencies where they have entered into a prior agreement to do so and in any event do not pay fees related to unsolicited resumés. Please contact the Recruitment function for additional details.

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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.