Operations Network Manager - Vice President
A high profile Operations Network Manager position within our Middle Office, Operations function. Operatng on an international platform, the successful candidate will manage risks and relationships including Custodians, Cash Correspondents, Clearing Houses, Central Depositories ans Counterparties & Agent Bank Network.
Overview of the Department/Section:
Mitsubishi UFJ Financial Group (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG has a global network with 1,100 offices in over 40 countries. The Group has over 140,000 employees, offering services including corporate banking, commercial banking, retail banking, wealth management, investment banking, capital markets, personal and corporate trust, and transaction banking.
The Group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms.
MUFG conducts securities business internationally through its overseas subsidiaries MUFG Securities EMEA plc, MUFG Securities Americas Inc., MUFG Securities Asia Limited. and MUFG Securities Asia (Singapore) Limited. With each member of the group working in partnership with one another, MUFG provides best in class service and products to corporate and institutional clients.
MUFG Securities EMEA plc is the European hub of MUFG’s securities business. Headquartered in London we have just over 600 employees and are active throughout the international capital markets, focusing on debt, equity, derivatives and structured products. Due to the diverse nature of our business we require a clear unifying vision for all of our people. It is this vision and our corporate values that reflect who we are and guide how we behave. We therefore strive to recruit individuals who share our vision and values, and who have the motivation and commitment to help us move our business forward.
Operations Middle Office is part of the European (EMEA) Operations department that supports MUFG’s core products and services including Banking (commercial/retail based payments, loans, derviatives, trade finance) and Securities (Derivatives, FX, Fixed Income, Equity etc). The role of Operations Middle Office is to manage the interaction between Operations and MUFG’s internal clients (Front Office, Trading Desks etc) and has close ties with other support areas such as , Legal, Compliance, Rik etc.
Main purpose of the role:
The Network Management team is in a pivotal position within MUFG Securities as it is responsible for ensuring it manages the risks and relationships of all external providers relating to custodian’s, cash agents, clearing houses, central depositories and counterparties, securities clearing banks, broker dealers and e-platforms used for trading. The team has an International support model providing expert advice to Operations in the US and Hong Kong.
The role will interface with all departments of the group including all areas within Operations, Front Office, change management, credit risk etc providing expert advice and guidance relating to current market and/or regulatory information affecting the Agent network.
In this role, you will be responsible for Network Management across MUFG’s banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business, subject to the same remit and level of authority, and irrespective of the entity which employs you.
- Relationship Management to include but not limited to: Custodians, Cash Correspondents, Clearing houses, Central Depositories and Counterparties, Agent Bank Network across the International platform
- Establishment of new agent relationships
- Ongoing review of agent bank providers, through various due diligence procedures including evaluations, service level agreements, contract review, on-site reviews and in-house meetings
- Management of new relationship documentation – legal agreements and account opening documentation
- Adherence to firm regulatory obligations for segregation and security of client assets throughout the agent bank net
- Creation and production of Network Management MIS
- Agent service and tariff review negotiations
- Current and in depth knowledge of markets and pre-investment information
- Communication with internal and external clients to present and answer questions on market events, market regulation etc.
- Act as the point of escalation and point of resolution of agent performance issues on an ongoing basis, escalating issues as required with agents at all levels of the management chain Communication of such issues internally
- Understand, manage and influence contract negotiations between internal and external Legal Counsel
- Understand process flows to be able to identify workflow and operational efficiencies
- Understand and influence in the wider market / industry environment, actively participate in working groups where required to
- Adherence to global standards of information storage and dissemination
- Build relationships throughout MUFG to establish a peer network, gather relevant information and help to ensure effective inter-departmental collaboration.
- Operate as product specialist providing subject matter expertise where required.
There are several regulatory and strategic initiatives that require an experienced Network Manager that has existing and well established external network that can be leveraged in order to support the MUFG Group across its Securities and Banking arms.
Skills and experience:
Functional / Technical Competencies:
- Strong Microsoft skills i.e. Word and Excel (intermediate level knowledge preferential)
- Good communication skills, written, oral and listening
- Good stakeholder management techniques
- Significant experience in an Operations or Middle Office role
- Preferable experience within Custodian and Securities Clearing space
- Previous expereice in deliverying a key piece of regulatory change (ie PSD2, MiFID2 etc)
Education / Qualifications:
- Degree or equivalent preferred
- Excellent Microsoft Office skills
- Excellent communication skills
- Results driven, with a strong sense of accountability
- A proactive, motivated approach.
- A structured and logical approach to work
- Strong problem solving skills
- A creative and innovative approach to work
- Excellent interpersonal skills
- The ability to manage large workloads and tight deadlines
- Excellent attention to detail and accuracy
- A calm approach, with the ability to perform well in a pressurised environment