The Robert Toigo Foundation

Manager, Client Counterparty Agreement Managment

Wellington Management Company
December 21, 2018
Boston, Massachusetts
Job Type


Tracing our roots to 1928, Wellington Management is one of the world’s largest independent investment management firms. With US$1 trillion in assets under management as of September 30, 2018, we serve as a trusted adviser to institutional clients and mutual fund sponsors in over 60 countries. Our innovative investment solutions are built on the strength of proprietary, independent research and span nearly all segments of the global capital markets, including equity, fixed income, multi-asset, and alternative strategies. As a private partnership whose sole business is investment management, our long-term views and interests are aligned with those of our clients. We are committed to attracting a talented and diverse workforce, and to fostering an open, collaborative culture of inclusivity because we believe multiple perspectives lead to more informed investment and business decisions. As an Equal Opportunity Employer, we welcome people with diverse life experiences, fresh ideas, and specialized subject-matter expertise.



The Manager of Client Counterparty Agreement Management, within the Derivatives Platform Team, will be responsible for leading a team of four analysts working with Trading, Legal, Client Service, other internal Wellington teams and external brokers to successfully on-board new clients to counterparty derivatives agreements. Additional responsibilities include developing and implementing a cohesive account on-boarding, on-going maintenance, and off-boarding strategy and capturing and maintaining key agreement terms in newly created data store for consumption by trading and post-trade applications.



Counterparty / Vendor Relationships

  • Establish and maintain service level agreement (SLAs) with our counterparties that govern servicing expectations, as well as escalation/remedial actions for SLA breaches
  • Manage and oversee relationship with Markit, Bloomberg Entity Exchange, or similar industry utility to facilitate dissemination of client documentation and data to our counterparties
  • Appropriately leverage our counterparty relationships to implement changes to better scale our business (i.e., Markit RFA implementation, building consensus from dealers to accept a standardized “Wellington” onboarding package, build automated reporting solutions to support ongoing broker credit reviews, and identify technology solutions to manage communications)
  • Take an active role in negotiating with counterparties on client-specific business/credit decisions
  • Subject matter expert on evolving market practices and regulatory changes that impact client onboarding
  • Negotiate business terms and, with support from the Derivatives Legal Team, manage the umbrella legal agreement negotiation and amendment process with counterparties

Internal Engagement

  • Senior leadership resource for client and broker relationships, serving as expert and point-person for working groups, key stakeholders within business lines as well as committees such as the Product Panel, Counterparty Review Group, and Risk Management Committee
  • Partner with Client Services Group to establish communication channels with counterparties; ensure consistency of documentation/deliverables, sharing of best practices and improving coordination and communication between client teams and the counterparties related to document submissions
  • Design and implement a mechanism to monitor investors/product management on agreement utilization rates; engage on findings and any resulting actions
  • Establish and maintain a counterparty derivatives agreements prioritization process, including consensus building, decision-making, and escalation and transparency protocols; track/maintain priority queue

Onboarding Platform

  • Establish vision and team for onboarding platform, implement lifecycle workflow tools and manage platform
  • Build consensus and maintain protocols with Client Teams and counterparties on a standard counterparty onboarding package, and leverage technology to address routine broker inquiries
  • Develop and oversee data analytics to support decision making with respect to onboarding and counterparty relationships as well as analytics to track shifts in counterparty market makers overtime to anticipate where new counterparties need to be onboarded
  • Work with our counterparties to set-up new client accounts to trade under various derivatives agreements
  • Develop and maintain a priority dealer matrix with Global Trading desks and instrument prioritization matrix with IPS
  • Work closely with IT, Trading, and Guideline Monitoring to enhance end-to-end broker restriction management process including:
    • Identify, build and manage tools to provide traders and other stakeholders with greater transparency on client-specific counterparty availability and rationale
    • Update all relevant systems and trackers of counterparty approval decision (onboarded, rejected, limited)
    • Implement/code trading restrictions driven by counterparties or regulation
  • Manage ongoing counterparty/client optimization analysis and remedial actions, including the prompting of client onboarding/off-boarding exercises
  • Work with internal Wellington teams to identify key terms from agreements that should be captured in centralized repository, support IT in the development of this data store, and take ownership of maintaining key terms in the new data store


The Manager of Client Counterparty Agreement Management is expected to have 10+ years in the investment management industry. Experience managing a team is beneficial. Important characteristics for success in the role include:

  • Knowledge of capital markets with experience in derivatives
  • Expertise in investment management operations and workflow processes
  • Demonstrated success on projects and working effectively in working groups
  • Ability to synthesize, condense and convey complex information to key stakeholders in clear, digestible and simple terms
  • Service oriented; ability to balance policy standards with a business perspective
  • Strong academic credentials
  • Excellent interpersonal, verbal and written communication skills
  • Strong business judgement and analytical skills
  • Deadline focused, organized self-starter with the ability to manage and prioritize multiple projects and issues


Application Instructions

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