OverviewWestpac Group Securitisation Associate Full Time in Sydney Central Business District NSW
Branch Sydney Central Business District NSW AU
Sydney Central Business District NSW
Reporting and escalation of surveillance outcomes and facility data to WIB stakeholders; Surveillance of Structured Finance client receivables portfolio data…
Westpac Banking Corporation (Westpac) was founded in 1817 and was the first bank established in Australia. Westpac began trading on 8 April, 1817 as the Bank of New South Wales and with the merger of the Commercial Bank of Australia in 1982, changed its name to Westpac Banking Corporation.
Today, The Westpac Group has branches and controlled entities throughout Australia, New Zealand and the near Pacific region and maintains offices in key financial centres around the world including London, New York, Hong Kong and Singapore.
Westpac’s vision is ‘To be one of the world’s great companies, helping our customers, communities and people to prosper and grow’.
Our strategy seeks to deliver on this vision by providing superior returns for our shareholders, building deep and enduring customer relationships, being a leader in the community and being a place where the best people want to work.
An exciting opportunity exists for Associate, Structured Finance to join our team.
Business Unit Overview
Debt Market Operations (DMO) is part of Institutional Banking Services (IBS) group under the Group Operations & Property division. IBS supports the Westpac Institutional Bank (WIB) and we pride ourselves on being a business unit that is equipped to meet the ever changing needs of the market, while remaining committed to our different customers, stakeholders and products.
Why does this position exist?
The Structured Finance Middle Office team supports the Westpac Institutional Bank (WIB) Structured Finance product, business and client base. The team manages bespoke Structured Finance facilities provided to this client base which represent Australian Financial Institutions and Corporates, and a diverse range of complex processes and controls designed to:
- determine the credit quality of assets originated by the WIB Structured Finance client base;
- validate client advance rates against eligible assets;
- validate client and sales team requests for IBS product support teams; and
- manage a number of key risks for the Bank including operational, credit, financial, and legal risks.
Duties include, but are not limited to:
Relationship Management and Customer Service
- Managing a portfolio of WIB Structured Finance clients in relation to all post-origination matters, including providing specialist and dedicated technical support to clients in relation to their Structured Finance product offering and Facility;
- Working closely with internal WIB stakeholders including Originations, credit, Finance and Operations support teams to execute and implement client facility changes and requests;
- Managing the execution and delivery of bank and non-bank funded funding to clients in a cost effective manner for the Bank and clients;
- Monitoring and reporting on Service Level Agreements with clients and WIB business partners
- Surveillance of Structured Finance client receivables portfolio data and cashflow reporting to determine (borrowing) advance rates and funding requirements in line with client contractual requirements – including review and calculation of conditions precedent for all client advances through analysis of client receivables data and cashflows;
- Reporting and escalation of surveillance outcomes and facility data to WIB stakeholders;
- Operating within the Risk and Control Framework for the Bank, Department and Team and all relevant Policies and procedures within this framework;
- Identification of continuous improvement opportunities to streamline processes and to reduce risky processes and practices.
Trust, SPE Management
- Monitoring Trust Manager / cashflow reporting for all Structured Finance client portfolios in line with contractual legal requirements;
- Calculation of deal cashflows for special purpose entities managed by Westpac in Structured Finance deal structures;
Trust Manager and Agency functions for special purpose entities managed by Westpac in Structured Finance deal structures – including cashflow creation, accounting record creation for SPE liabilities and assets, and performing credit enhancement calculations.
To be successful you will have the following experience, skills and/or qualifications:
- Excellent communication skills, both written and verbal are essential;
- Excellent comprehension skills are essential, as the ability to understand and interpret verbal and written communication in various forms is a core function of the role and stakeholder engagement levels frequent (Legal documents, credit papers, meetings, Procedures and policy documents);
- Intermediate – Advanced Computer literacy (Access, Excel, Word);
- Strong analytical skills – ability to interrogate, interpret and assess data and articulate trends and outcomes;
- Trust Manager / securitisation cashflow reporting skills;
- Legal document review and interpretation skills
Westpac Group has market leading employee benefits, financial product discounts, wholeheartedly supports Inclusion in the workforce (and we really mean it too), and believes work is something you do and not somewhere you go. Westpac is committed to creating flexibility for every employee so please talk to us about how we could make this role work for you.
Employment Type: Full Time
Location: Sydney, NSW, AU
Posted on: 2017-04-21