Collateral and Initial Margin Model Recovery Director

The mandate

This interim assignment will restore quantitative control over collateral exposure and initial-margin calculation where agreement terms, sensitivities, model versions and dispute explanations do not consistently reconcile. The Director begins with daily-cycle observation and leaves after internal leadership demonstrates stable operation. The remit does not negotiate agreements, move collateral or determine counterparty strategy.

The first twenty working days will trace selected portfolios through eligibility and netting facts, risk sensitivities, model inputs, calculation, calls and disputes. The Director may quarantine unsupported overrides, impose issue ownership, require reruns and escalate unreliable results. Legal interpretation, model approval and settlement decisions remain with their existing authorities.

Recovery must separate documentation facts, trade population, sensitivity generation, calibration, implementation and operational cut-off. Particular scrutiny will cover wrong-way effects, concentration, liquidity horizons, threshold and minimum-transfer treatment, dispute ageing, proxy use and unexplained change after model or agreement updates.

By month three, material populations should reconcile across input, calculation and call outputs. The next two cycles will test controlled change, daily exception response and month-end movement analysis. A named successor will run a deliberately disrupted cycle containing one agreement-data defect and one sensitivity failure, then present financial consequence and resolution to governance.

Handover is accepted when the Chief Risk Officer signs the end-to-end map, override register, control evidence, dispute taxonomy and successor assessment after that practical test. Platform replacement, agreement negotiation, independent model validation, collateral optimisation and permanent organisation changes are excluded. Extension is reserved only for delayed successor acceptance.

What you will own

• Map contractual, population, sensitivity, model, calculation and operational dependencies through the complete margin cycle.
• Reconcile calculated requirements to calls, settlements and disputes while preserving distinct ownership of each stage.
• Govern overrides, proxies and reruns with quantified effect, rationale, approver, expiry and closure evidence.
• Establish movement analysis covering portfolio change, market move, sensitivity, calibration, agreement and implementation drivers.
• Prioritise margin disputes by value, age, model relevance and likelihood of recurring source failure.
• Complete two stable cycles under controlled model and agreement changes without unexplained critical differences.
• Test the successor through a live simulation and document decision quality, not merely task completion.
• Keep legal, operational, optimisation and infrastructure work outside the agreed recovery perimeter.

Candidate qualifications

• Demonstrate interim leadership of quantitative margin or collateral analytics under daily deadlines.
• Describe a calculation discrepancy whose cause lay in agreement data rather than the model.
• Show technical command of sensitivity, concentration, horizon and netting effects relevant to initial margin.
• Evidence decomposition of day-to-day requirement movement into decision-useful drivers.
• Provide a dispute pattern you traced to a repeatable source defect and permanently corrected.
• Explain how you preserved legal, model and operational decision boundaries during recovery.
• Show a successor passing a disrupted-cycle test before your departure.

Working terms and boundaries

• The eight-month term requires five days weekly and includes diagnosis, correction, two proofs and handover.
• Day rates cover on-site daily-cycle leadership; exceptional travel requires written approval.
• Recovery authority does not confer agreement, model-approval, collateral-movement or counterparty decision rights.
• Platform replacement, independent validation, optimisation and permanent organisation design are excluded.
• Any six-week extension requires a documented internal-owner acceptance gap.

Application

Applications for this mandate are received in one way only: through the India Board Terminal's application process. It is automated end to end. Your Executive Passport travels to the mandate holder in its confidential form, your answers to the three questions below are read before anything else in your file, and every stage that follows is recorded on your applications page.

There is no address to write to and no intermediary to call. The mandate holder reads what the Terminal delivers and nothing else, which is what keeps the process the same for every applicant and keeps your name out of it until you release it. Applications close on 6 October 2026. Mandate reference QNT-INT-2026-DXB-10.