Director, Collateral & Liquidity Management

About the role

LCH SA, the French central counterparty established by LSEG, offers central clearing services across three business lines (RepoClear, CDSClear and DigitalAssetClear). As Director of Collateral and Liquidity Management (CaLM), you will lead the department whose objective is to invest clearing member cash margin while preserving principal and maintaining sufficient liquidity through a portfolio of high-quality, short-term instruments. You report locally to the Global Head of RepoClear and functionally to the Global Head of CaLM.

Key responsibilities

• Manage the investment of a large cash portfolio, identifying and supervising risks and acting within policies, limits and regulatory requirements
• Define and develop investment and liquidity strategies and policies, and assess the impact of policy and methodology changes
• Manage liquidity, including maintaining and updating the Liquidity Plan, proactive intraday liquidity management and liquidity testing and reporting (including war games)
• Oversee collateral liquidation and liquidity provision in case of default, and take part in default fire drills
• Maintain counterparty relationships, support client-facing teams and improve operational risk through process and technology enhancements
• Provide management of CaLM locally and globally, and escalate liquidity or investment concerns to the Global Head of CaLM
• Assess the liquidity and investment implications of new clearing products and ensure due diligence, legal agreements and credit approvals are in place

Required profile

• Extensive experience managing a large cash balance (multiple billions) across several core currencies and time zones
• Experience of default management, either within a CCP or externally
• Experience leading improvements to the operational risk profile and people management experience
• Ability to interpret direction and make independent decisions, and to motivate change
• Flexibility to work or be on call on some bank holidays and to handle out-of-hours issues

Required skills

• Liquidity management and short-term government markets
• Repo and securities financing, spot and forward FX and currency swaps
• Other short-term liquidity investment products, including central bank arrangements
• Well-established external market and central bank contacts
• Understanding of the regulatory environment affecting LCH and its counterparties