Structured Finance Specialist - Skipton, United Kingdom - Skipton Building Society

Skipton Building Society

Verified Company

Skipton, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Hours:
35 hours per week Monday-Friday

Hybrid working available

Reward:
£68,663 Per Annum

Closing Date:
Wed, 18 Jan 2023

Not just another building society. Not just another job.

We're the fourth biggest building society in the UK and what makes us a bit different is that we're a mutual organisation.

We don't have shareholders, we're owned by our members.

Our colleague say Skipton's a great place to work and you could be one of them, bringing with you new ideas on how we can keep customers at the heart of what we do.

Whatever your background, and whatever your goals, we'll help you take the next step towards a better future.

Job Description:

Treasury is an exciting and demanding area of our business. We raise wholesale funding, manage liquidity, and minimise interest rate risk for the Society.

We're also the team with responsibility for originating structured finance transactions as well as helping to achieve best returns on the Society's asset portfolios.

The Capital Markets team is responsible for structuring, issuing, and maintaining wholesale funding which is secured by Skipton's residential mortgages.

There are three types of wholesale funding that the team are responsible for - covered bonds, securitisation (specifically residential mortgage-backed securities) and central bank funding schemes.

This is a unique opportunity to work in a team which operates in the Financial Markets but is also responsible for regulatory and investor reporting.

We are looking for an individual with experience in secured funding and a strong analytical/problem solving mindset who is interested in taking the next step in their career to join our team as a Structured Finance Specialist.

Naturally, we'll expect you to be a great fit in to the culture of the Treasury team, be an advocate of everything the Society stands for and always be seeking to do the right thing.

At Skipton we openly put over 1 million members at the centre of every decision we make as a business.

Every role, no matter what it's doing, is member focused.

What you'll be doing

You will be providing technical expertise in the structuring, issuance and maintenance of residential mortgage backed securities and covered bonds including the reporting of secured funding.

There are several core elements to the role:

New transaction lead: Responsibility for the negotiation and bringing to market of new wholesale funding transactions including associated derivative and repo transactions. Ensure comprehensive understanding and adherence to standards, processes and procedures and provide secured funding expertise to support corporate objectives.
Legal documentation lead: Interpret and implement legal agreements including negotiation of Society and Secured funding vehicle representations and warranties. Ensure secured funding processes and procedures comply with legal documentation at all times.
Funding programme update lead: Ensure the Society can access long term wholesale funding markets with appropriate collateral under BAU and stressed market conditions.
Transaction structuring and pricing: Negotiating fees with services providers as well as pricing cross currency hedging and derivatives associated with secured funding transactions and new initiatives.

Alongside this there are numerous opportunities to get involved with:

Transaction/programme reporting: Responsible for reporting Covered Bonds/securitisation transaction performance and Bank of England funding activity.
Investor Marketing support: Liaison with Head of Capital Markets and Group Treasurer/ExCo in the coordination and preparation of key presentations material for external relations.
Treasury Development, Environmental, Social and Governance (ESG) initiatives: Collaboration with internal stakeholders to develop sustainable finance initiatives.
Wholesale Funding Pricing: Provide dynamic pricing models using market data across secured and unsecured funding instruments.
RMBS Transaction Rating Agency cash flow modelling and methodology: Develop expertise of rating agency structured finance methodology to deliver understanding of pricing, the modelling of cashflow and capital structures across securitisations using both Specialist loans, BTL and Prime residential collateral.
The development and maintenance of the teams reporting function, processes, and systems.
New initiatives (both internal and external) and consideration of the impact they may have on the Society's funding programmes.

As a minimum requirement you'll need to have/ be:

A great team player, with a willingness to support your colleagues to tackle problems head on. A keen advocate of Skipton's values.
Highly numerate with a strong analytical mindset and innovative thinking in relation to problem solving and solution development.
Strong Excel skills, potentially including VBA & SQL, with the ability to assimilate and interpret significant volumes of data.
Ability to pay high