Business Control Solutions Group (BCS) has appointed Michael Bush to develop its collateral management offering within the financial services sector.
Prior to his employment at BCS, Bush consulted as a collateral specialist at HSBC, Credit Suisse First Boston and HBOS where, amongst other responsibilities, he was instrumental in implementing new collateral management programmes. His contributions included client transitions, trade and market data optimization, custom margin calculations, workflow design, straight-through settlement processing, reconciliation and client and regulatory reporting.
Previously, Bush worked as product manager for Algo Collateral, a subsidiary of Toronto based Algorithmics, where he completed a work portfolio, comprising a new Reconciliation Module, a new Trade Matching Process and a series of workflow and general product enhancements. Michael has also been employed by other FTSE 200 firms, notably Sony UK, where he designed and implemented software for managing dealer relationship and product range stocking, customer promotions and management information reporting.
“With the increasing number of complex derivatives being traded, not just by investment banks but increasingly by traditional fund managers and hedge funds trying to enhance their returns to their customers, firms are continually looking to increase efficiency by identifying, controlling and ultimately mitigating the extent of risk involved. Collateral Management interacts with so many functions of the business, such as legal, front office, settlements and credit, presenting an ideal platform from which to drive change and improve efficiency and control,” says Bush. “I am looking forward to leading the expansion of Business Control Solutions Group’s software solutions in this area to ensure there is a greater understanding of each counter-party and their needs.”
Martin Preen, Group Sales and Marketing Director, says Bush can help firms “fill the control gaps of most of the major collateral processing systems. Michael has a vast and proven experience as a collateral specialist and his appointment will reiterate Business Control Solution Group’s excellence in the financial sphere of operational risk. Our recent contract agreement with Deutsche Bank around Dispute Management provides a fantastic foundation on which Mike can build in this area.”