Sr. Analyst, Initial Margin & Model Development

HOOPP (Healthcare of Ontario Pension Plan) • Toronto, ON

6d

About The Position

This role is responsible for the daily validation and reconciliation of regulatory initial margin (IM) exposures, researching and proposing enhancement to SIMM-based model implementation in Acadia for HOOPP’s derivatives products across all asset classes. The successful candidate will lead IM investigations, engage directly with counterparties and vendors (Acadia) to resolve discrepancies, and ensure accurate and timely collateral exchange. The role sits within the Model Development team and provides opportunities to contribute to model development and methodology enhancements to pricing models, sensitivity and exposure calculations across a range of physical and derivatives products, supporting performance attribution and investment decision-making processes. This role offers a unique opportunity to contribute to HOOPP’s evolving valuation framework through innovative model design, technical execution, and close collaboration with internal stakeholders across Investment, Risk, Technology, and Finance teams.

Requirements

• Advanced degree (Master’s or Ph.D.) in Quantitative Finance, Statistics, Mathematics, Physics, Engineering, Computer Science, or related fields preferred.
• 3 to 5 years of relevant experience in initial margin required.
• Relevant experience in quantitative finance, derivative modeling, model validation, valuation methodologies preferred.
• CFA and FRM designations preferred.
• Strong understanding of derivatives products and risk sensitivities across asset classes.
• Solid knowledge of valuation methodologies and derivative pricing concepts.
• Familiarity with ISDA SIMM framework, initial margin processes, and collateral workflows preferred.
• Experience with data analysis and querying tools (e.g., SQL).
• Proficiency in programming languages such as Python, C, or C++ is an asset or Familiarity with pricing models and quantitative methods is beneficial.
• Experience with Acadia, HANA, SimCorp Dimension, TriOptima, or HANA is an asset.
• Strong ability to research complex issues, analyze problems, synthesize information, and make recommendations often by identifying innovative solutions.
• Extensive experience in researching, developing and implementing quantitative models for various analytical initiatives.
• High emphasis on accuracy and completeness, with the ability to manage multiple tasks efficiently.
• Intellectual curiosity, a passion for technology and a commitment to demonstrate HOOPP values.
• Desire to learn in a highly collaborative environment and influence others to adopt a different point of view.
• Ability to work collaboratively in a team environment, while also taking ownership of projects independently.

Responsibilities

• Perform daily reconciliation of IM exposures using AcadiaSoft IMEM, ensuring accuracy of margin calculations and timely collateral exchange.
• Investigate IM discrepancies between HOOPP and counterparties by analyzing exposure breaks, identifying root causes, and providing supporting evidence to counterparties and vendors to resolve disputes prior to collateral exchange.
• Partner with Technology (ISG), Collateral, and Operations to support new deal onboarding, template development, and resolution of production issues.
• Proactively identify and challenge counterparty valuation gaps by applying strong knowledge of ISDA agreements and collateral workflows to safeguard firm exposure and margin posting/collection.
• Communicate effectively with counterparties, vendors, investment teams, and legal counsel to drive timely resolution of discrepancies and manage outages.
• Drive efficiency through process enhancements, automation, and development of reporting solutions using tools such as Power BI for deep dive analytics.
• Explore alternative initial margin calculation engine to optimize exposure calculation quality and achieve cost efficiency.
• Contribute to model development initiatives by providing analytical support and recommendations for derivatives pricing and valuation approaches.
• Support the development and implementation of prototype models and analytical tools, including data preparation, testing, and validation activities.
• Perform quantitative analysis to explain and validate sensitivities, Greeks, and exposure calculations across internal systems, counterparties, and vendors.
• Conduct reviews of market data inputs (e.g, volatility surfaces, dividend curves, and interest rate curves) to ensure data quality and consistency in model outputs.
• Collaborate with Model Validation to formalize and maintain model inventory documentation, conduct periodic reviews and calibrations of existing models, and drive enhancements using innovative and creative approaches.
• Support valuation-related projects by contributing research, analysis, and recommendations as needed.
• Continuously identify opportunities to improve valuation and IM processes through new technologies, tools, and methods.
• Contribute to ad hoc projects and deliver high-quality work within required timelines; identify and escalate issues, including those related to sensitivity and Greeks calculations, Numerix methodologies, and valuation analytics.

Benefits

• high-performance, people-focused culture
• commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves
• learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth
• membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security
• competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, parental leave top-up, and a health spending account).
• optional post-retirement health and dental benefits subsidized at 50%
• yoga classes, meditation workshops, nutritional consultations, and wellness seminars
• the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

What This Job Offers

• Job Type: Full-time
• Career Level: Senior