Vice President, Cash, Derivatives, Collateral

POSTING CLOSE DATE: Tuesday July 7, 2026

BCI is one of the few institutional investors in Canada where derivatives, collateral management, and cash operations are led under a single mandate, and it’s intentional. As Vice President, Cash, Derivatives & Collateral, you’ll managing everything from OTC derivative valuations and SIMM/UMR compliance to FX hedging strategies, securities lending, and cash optimization across BCI’s multi-client, multi-fund platform. If you’ve built deep derivatives expertise but have always wanted the scope to lead across functions — this is that role.

THE OPPORTUNITY

Investment Operations (IO) delivers institutional-grade capability across cash management, derivatives and collateral, foreign exchange, trade settlement, corporate actions, and custodian oversight. Partnering with BCI’s investment teams to design and execute end-to-end solutions that translate investment strategy into operational reality. The department manages this capability entirely in-house, supported by internally built quantitative models, AI-powered liquidity tools, and automated workflows that operate at the forefront of the industry.

The Vice President of Cash, Derivatives and Collateral (CDC) leads two of BCI’s operationally critical and technically specialized teams: Cash Management and Derivatives & Collateral. Together, these teams are responsible for ensuring that every dollar BCI manages is always working, always protected, and always where it needs to be on time, every day, across our clients and a global investment program.

• Cash Management — centralizes client liquidity across short and medium-term horizons. The team manages money market activity, coordinates FX requirements across clients, provides bridge financing when settlement timing creates funding gaps, and delivers daily liquidity intelligence to BCI’s Asset Allocation Committee.
• Derivatives & Collateral — delivers market access across ETD and OTC derivatives, manages passive and active FX hedging programs for illiquid asset classes and clients, oversees centralized collateral management under ISDA/GMRA frameworks, and runs BCI’s securities lending program. The team manages all derivative valuations, lifecycle events, and daily margin obligations. This team partners closely with investment teams on derivative strategies tied to specific investment programs.

WHO YOU WILL WORK WITH

Reporting to the Senior Vice President, Investment Operations, the Vice President works with various corporate stakeholders and external counterparties. They ensure strong partnerships across the organization and that the IO department and branch plans align to corporate objectives.

The Vice President inspires commitment from their team, creating a culture of high performance and engagement. They work with a great deal of autonomy to prioritize and implement corporate and operational initiatives within their branches. They represent their team on cross functional senior leadership teams and participate and present in various forums, workgroups, and committees. The position is responsible for overseeing the custodian relationship through due diligence activities in their specific area and contributing at an enterprise level.

WHAT YOU WILL DO

• Defines and develops the strategic direction and roadmap for Cash and Derivatives, ensuring delivery of services and products for asset classes and clients
• Ensures systems and capabilities for Cash Operations are implemented in line with BCI internal and external controls
• Manages the overall budget for Cash and Derivative branches and oversees end-to-end processes
• Acts as an escalation point for operational or business issues related to Cash and Derivatives by providing leadership and acting decisively; raises issues to internal audit and compliance with resolutions
• Collaborates with internal partners to provide critical analysis and solutions to support decision making for senior management committees
• Develops counterparty networks through reviews and negotiation of banking and credit agreements (e.g. ISDA, CSA, GMRA, Give-up, etc.), and makes decisions according to BCI policies, ensuring risks are identified and managed
• Empowers Cash and Derivatives employees to build a cohesive team by providing leadership over recruitment, training, retention, equity, diversity, inclusion, and performance management
• Leads by example and builds the BCI culture and values by setting appropriate expectations for the team and works in collaboration with internal/external partners
• Contributes towards the organization’s vision and strategy, ensuring that efforts are prioritized to support them by developing a business plan for their area based on evolving market dynamics and corporate, department, and branch objectives with the goal of improving efficiency, profitability, and managing risk
• Develops and manages the execution of branch budgets through corporate annual planning process and analyzes budget reports and forecasts to maintain expenditure control
• Evaluates innovative approaches and develops proposals that enable operational excellence
• Takes calculated risks to deliver significant long-term value to the business by managing competing priorities, with ability to quickly meet critical deadlines, making decisions to resolve issues and providing recommendations independently using principles, values in the absence of precedents
• Acts as a “change agent”, encouraging and advising on how to streamline and automate business processes and delivering on client service excellence, driving the branch to reach optimal service-oriented performance levels, instilling a solutions-oriented mindset with KPI’s to track progress
• Approves frameworks and controls for the valuation and P&L optimization of lifecycle events for listed and OTC derivatives across equity (TRS, basket swaps, index and equity options), Fixed Income (vanilla swaps, cross currency, OIS, basis swaps), FX (options) and Credit (CDS and CDS Index Options), including lifecycle events and reset management and amendments (fixing’s cash flows)
• Accountable for the effectiveness of operational framework for the management of cash, FX and currency hedging strategies for illiquid asset classes and clients
• Approves the frameworks for cash and collateral management funding activities according to defined objectives and ensures the optimization the liquidity for BCI

WHERE YOU WILL WORK

BCI’s headquarters in downtown Victoria, BC, Canada

SALARY RANGE

$185,000 – $230,000

Our recruitment process requires that the successful candidate agrees to undergo a criminal record search, education and designation verification; to provide a declaration of no previous or current criminal status; and to comply with our corporate Code of Ethics & Professional Conduct.