UMR Implementation Lead (Contract) - Michael Page

Cross-Functional and Strategic Experience

• Exposure to High-Impact Regulatory Programs

About Our Client

Our client is a hedge fund specializing in identifying undervalued companies and enhancing their long-term performance, with assets under management (AUM) of approx. USD 10 billion.

Job Description

• Lead the implementation of UMR Phase 6 Initial Margin requirements for in-scope entities.
• Perform Average Aggregate Notional Amount (AANA) assessments to determine regulatory scope.
• Ensure compliance with applicable global regulatory regimes governing uncleared derivatives margin.

• Drive the end-to-end UMR implementation program, including planning, milestones, and governance.
• Coordinate across internal teams including Legal, Risk, Collateral Management, Technology, and Operations.
• Track program progress, risks, and regulatory deadlines.

• Identify and onboard UMR in-scope counterparties.
• Coordinate regulatory readiness with trading counterparties.
• Maintain a counterparty readiness tracker.

• Lead onboarding with third-party custodians
• Establish segregated initial margin accounts and triparty collateral arrangements.

• Implement the ISDA Standard Initial Margin Model (SIMM) for margin calculation.
• Coordinate with Risk and Technology teams for sensitivity generation and margin calculation.
• Ensure model governance and validation requirements are met.

• Oversee implementation and integration of margin platforms
• Ensure operational capability for daily IM calculation, margin call management, and collateral settlement.

• Coordinate internal and external testing including:
• System testing
• Custodian testing
• Counterparty margin testing
• Drive operational readiness and go-live planning.

• Develop and maintain UMR policies and procedures.
• Support regulatory reporting and audit requirements.
• Work closely with International Swaps and Derivatives Association standards and industry best practices.

• Min 5 years of experience in derivatives operations, collateral management, regulatory change, or capital markets.
• Strong experience implementing UMR / Initial Margin regulatory programs.
• Knowledge of OTC derivatives lifecycle and collateral management.

• Competitive salary
• Opportunity to work within a reputable organisation in the financial services industry.

If you are an experienced Derivatives Specialist looking for a challenging role in Singapore, we encourage you to apply today!