Vice President, Cash, Derivatives, Collateral
BCI
Victoria, BC
Full-Time
$295
HybridExecutive
About Us:
With $295.0 billion of gross assets under management, as of March 31, 2025, British Columbia Investment Management Corporation (BCI) is the provider of investment management services for British Columbia’s public sector and one of the largest asset managers in Canada. BCI seeks investment opportunities around the world and across a range of asset classes that convert savings into productive capital. Our investment returns play a significant role in helping our institutional clients build a financially secure future for their beneficiaries.
Headquartered in Victoria, British Columbia, and with teams spanning Vancouver, New York, London, and Mumbai.
BCI integrates environmental, social, and governance (ESG) factors into all investment decisions to meet clients' risk and return requirements. Our people shape employee-focused initiatives, creating a strong culture. To learn more about our culture and values, visit our BCI Values in Actionpage.
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.
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.
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
Relevant university degree or diploma (emphasis on Business, Economics, Finance, or related field)
Professional designation (e.g., CFA, CA, CPA, MBA, CAIA, FRM) or industry accreditation is an asset
12+ years of progressive, related experience (preferably with a large asset management, investment firm, or banking institution) managing a team of professional. An equivalent combination of training, education and experience will be considered
A broad and deep understanding of global capital markets, financial instruments, data components, accounting principles, unitized pool transactions, corporate actions and global payment and settlement mechanisms with the ability to create strategies that leverage BCI’s competitive advantages and identify emerging trends
Expertise in the areas of regulatory reporting, Uncleared Margin Rules, requirements for calculating Initial Margin applying SIMM methodology, as well as techniques to drive cost savings by optimizing collateral management and security lending decisions
Expertise in treasury management, cash optimization techniques, banking portals, negotiating service standard contract terms of direct banking agreements
Advanced knowledge & skills in the use and implementation of quantitative valuation models and analytics supporting derivatives, investments and funding decisions (e.g. derivative engineering models, Bloomberg AIM, ICE Portfolio Analytics, TriOptima, MarkitWire, RStudio, Python, VBA, SQL).
Proficient at developing and delivering multi-mode communications that convey a clear understanding of complex concepts tailored to the unique needs of different audiences. Create avenues for constructive and open dialogue within the organization
Ability to anticipate complex challenges the organization may face in the future, manage complexity by thinking critically and capitalizing on changing technology to mitigate risk, while maintaining strong internal controls
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
BCI’s headquarters in downtown Victoria, BC, Canada
$185,000 - $230,000
BCI offers a competitive total rewards package, including a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan, and paid time off. We pay our people competitively in the markets in which we operate and with consideration for internal equity and job structure. The base salary will consider factors such as the individual's skill set, experience, and internal equity. We aim for actual pay to be around the market median for expected performance and the upper quartile for excellent performance. Actual salaries may vary based on experience and expertise.
Next Steps:
To apply online, please submit your resume promptly. Applications will be actively reviewed, and those selected for an interview will be contacted. We welcome all qualified candidates who are legally authorized to work in the country where this job is located. If you do not have authorization, or if your work permit has restrictions or is due to expire within 12 months, please inform our recruitment team if shortlisted.
At BCI, we value diversity and foster an inclusive culture where all employees can thrive. We are performance and client-focused, valuing integrity, and we want to know you if you share these values. We recognize that some skills can be learned on the job and encourage everyone to apply. If you require accommodations for the recruitment process, such as alternate formats of materials or accessible meeting rooms, please contact us at hr@bci.ca.
To learn more about working with BCI, including our comprehensive benefits packages, our commitment to equity, diversity and inclusion and the recruitment process visit our BCI Careers Page.
BCI does not accept unsolicited resumes or candidate submissions from third-party recruitment agencies, executive search firms, or staffing suppliers unless they have an existing contractual agreement with our organization. Our approved vendor relationships are established for particular recruitment requirements and do not extend to general job postings on our website or other platforms. Any candidate information or resumes submitted by suppliers not approved by BCI will be deemed unsolicited and will not be reviewed or considered. BCI will not be liable for any fees, commissions, or charges related to unsolicited candidate submissions or recruitment services.