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Collateral management: A changing landscape
Journal of Securities Operations & Custody,
9
(1),
25-29
(2017)
Abstract
Regulation intended to bolster market resilience has transformed collateralised trading, and overthe- counter (OTC) derivatives products. Market participants on both sides of the street are addressing how to balance compliance, risk management and liquidity optimisation in a manner commensurate with their unique needs. At the same time, in response to user demand, custody banks, collateral management vendors and Financial Market Utilities (FMUs) are providing solutions which enable market participants to achieve compliance and work towards their long term strategic goals. This paper examines the industry’s push towards balancing short-term regulatory compliance with strategic initiatives focused on unlocking latent liquidity, better managing risk, and maximising efficiencies.
Keywords: bilateral margin requirements; collateral management; collateral management solutions; risk management; maximize efficiency; liquidity management
The full article is available to subscribers to the journal.
Author's Biography
Mayur Java joined PwC in 2011 and he is a Director in PwC’s Banking & Capital Markets management consulting practice. He has more than 10 years of experience as a practitioner and consultant in strategy, process and operations consulting for large and mid-size buy side clients, broker dealers and custodian firms. Mayur was previously a senior consultant at a smaller Financial Services consulting firm. Prior to consulting, Mayur spent over four years at hedge funds conducting portfolio analysis and operational due diligence. Mayur holds a Master of Business Administration (MBA) degree in Finance and Investments from Baruch College, Zicklin School of Business in New York. Mayur is a Chartered Financial Analyst (CFA) charterholder.
Julianne Carman joined PwC in 2011 and is a Manager in the Digital Strategy Advisory practice. Julianne has diversified experience working closely with several leading sell side, buy side and custodian firms, providing services ranging from process reengineering and design, technology implementation, identifying strategic growth opportunities, regulatory assessments and implementation, and general operations. Julianne has co-authored several white papers and point of views on collateral management. Julianne is a Certified Public Accountant (CPA).
Max Thoman joined PwC in 2015 and is an Experienced Associate in the Banking and Capital Markets Advisory practice. Max has worked with a large variety of capital markets participants, including buy side, sell side, and custodian firms, and has experience with business analysis, growth strategy, process design, and programme management.
Manan Shah joined PwC in 2011 and he is a senior Manager in PwC’s Banking & Capital Markets management consulting practice. He has more than 10 years of experience as a practitioner and consultant in strategy, process and operations consulting for large and mid-size buy side clients, broker dealers and custodian firms. He has successfully led multiple large and complex projects in areas of collateral management, derivatives processing and settlement netting and leading financial institutions. Prior to joining PwC, he worked for technology departments at Lehman Brothers and Barclays Capital. Manan holds an engineering degree from Mumbai University, India. In addition, he holds two Masters degree with a Masters in Business Systems Analysis and Design from City University (Cass Business School), London and a Masters in Information Systems Management from Carnegie Mellon University, USA.
