Process Overview
The Stock Borrow Loan (SBL) desk is part of the Prime Finance Organisation. SBL undertakes various trade structures ranging from short coverage, financing, conduit lending, dividend yield enhancement and the facilitation of longer-term non-standard structured deals. To support this, SBL borrows stock from counterparties based in various countries around the world and flows this stock through multiple legal entities onto the relevant risk entity. The team directly support the front office trading desk and have direct interactions with external clients.
The Stock Borrow Loan Middle office's main function is to facilitate and control the end to end life cycle of Equity Borrow / Loan activity for the Investment Bank in EMEA. Liaison with external counterparties & traders on a day-to-day basis is the key to success. The SBL product forms part of the Securities Financing world, as such is in scope for upcoming SFTR (Securities Financing transaction Regulation) April 2020. To provide additional transparency to the European regulator.
Roles & Responsibilities
- Client Onboarding for new counterparties and incremental fund setups, working with internal teams and interaction with counterparties directly
- SSI setup for stock and cash
- Daily CASS Reporting, including reviewing of reporting to ensure limits not exceeded, monitoring of settlement and liaising with internal teams
- Fails reporting to be provided inter day to internal middle office and settlement team, as well as front office
- Ensure all controls and checks are completed on End of Day
- Provide timely escalation to senior management where required
- Remain flexible within the wider SBL middle office to provide coverage and support
Skill sets required
- Excellent problem solving skills in order to identify, understand and address operational and technical issues
- Strong communication skills
- A self-motivated individual who is able to deliver with minimal supervision, whilst also working effectively as part of a team
- Ability to work in a high pressure environment with time critical deliveries
- Control mind-set to identify process control gaps, prioritize & mitigate operational risk
- Excellent time management skill and ability to prioritize work effectively
- Ability to respond to a changing environment
- Be innovative and suggest system improvement capabilities
- Utilise firm wide self-solve tools in order to create efficiency and removing of manual touch points
- Positive “Can Do” attitude
- Contributes to an environment of collaboration and mutual responsibility
- Good understanding of downstream impact of actions undertaken, particularly the requirement for strong and timely controls throughout the life cycle of the trade
