Description

A focused course, tailored for you

Securities Lending Operations Control Mastery

Build the daily reconciliation, SFTR reporting, and collateral workflow discipline that keeps a lending book clean under pressure.

A securities lending operations manager has three things on their desk that do not close before 17:00: the SFTR trade repository reject for missing UTI linkage, the collateral substitution request from a counterparty that is still routing through email, and the open fail on a bond where the issuer paid a coupon while the position was on loan. Each of these is a known problem with a known fix. The issue is that the fix is not systematically embedded in the daily workflow.

$199 one-time

Tailored to your situation. Access within 24 hours. 30-day money-back.

Includes a hand-built implementation playbook delivered alongside course access, generated for your specific situation.

Why this course

Securities lending operations sits between the front office trade desk, the custodian, the counterparty, and the regulator. Every break in that chain produces a queue item. The most persistent queue items are not one-off errors; they are design gaps in the operational control framework.

SFTR reporting requires field completeness that most reconciliation exports do not produce natively. Collateral management requires a substitution workflow that most teams run on a combination of Bloomberg messages and tracked email threads. Corporate action management on lent securities requires a recall process that is triggered by something other than someone's memory.

The gap between a lending book that requires constant manual intervention and one that runs cleanly is not headcount. It is the systematic embedding of controls at the right point in each workflow so that exceptions are caught early and resolved on a predictable path.

What you walk away with

Design a pre-SFTR submission check that catches field completeness rejects before they reach the trade repository.
Build a collateral substitution workflow that moves from email routing to a controlled, auditable process.
Implement a corporate action recall trigger that is systematic rather than calendar-dependent.
Produce a daily reconciliation pack that closes by a fixed time with a documented resolution path for each open item.
Define the escalation criteria for counterparty disputes so that the operations team does not carry unresolved breaks beyond the agreed window.
Deliver a monthly operational control report that gives management a clear picture of fail rates, SFTR reject rates, and collateral efficiency metrics.

The 12 modules

Module 1. The Securities Lending Operations Control Map

Maps the full daily workflow from trade confirmation through settlement, collateral exchange, income accrual, and SFTR reporting. Identifies the five points in the workflow where control gaps consistently produce recurring queue items. Establishes the vocabulary and framework used throughout the course so that every subsequent module builds on a shared operational model specific to securities lending.

Module 2. SFTR Field Completeness: Pre-Submission Validation

Covers the 155 SFTR data fields and the subset that generates the highest reject rates at EU trade repositories. Builds a pre-submission validation checklist that maps each required field to its source system, so that missing or malformed data is caught in the operations layer rather than returned as a reject. Includes the specific UTI linkage, LEI validation, and collateral ISIN checks that most standard exports miss.

Module 3. Reconciliation Design for a Lending Book

Covers the three reconciliations that a securities lending operations team runs daily: position versus custodian, collateral versus counterparty, and accrued income versus the fee schedule. Builds a reconciliation pack template with a defined break tolerance, a break-aging column, and a documented resolution path for each break type. Shows how to set a hard close time that the team works toward rather than a soft close that drifts.

Module 4. Fails Management and Settlement Discipline

Distinguishes between fails that require immediate recall and fails that can be managed to the next settlement date without regulatory consequence. Builds the decision tree for fails prioritisation, including the cash penalty calculation under CSDR that changes the economics of allowing a fail to age. Covers the counterparty notification workflow that documents the operations team's action on each open fail.

Module 5. Collateral Management: Eligibility, Haircuts, and Concentration

Covers the collateral schedule negotiation artefact that defines eligible securities, haircuts, and concentration limits for each counterparty relationship. Builds the daily collateral sufficiency check that compares exposure against posted collateral at current market value. Identifies the three concentration breaches that most commonly appear in a diversified lending book and the operational response to each.

Module 6. Collateral Substitution Workflow

Replaces the email-based substitution request process with a controlled workflow: request received, eligibility checked against the schedule, mark-to-market confirmed, substitution agreed and documented, settlement instructed. Builds the substitution log that gives compliance and the front office a real-time view of collateral changes. Covers the intraday deadlines that determine whether a substitution can settle same day.

Module 7. Corporate Action Management on Lent Securities

Covers the corporate action calendar integration that triggers a recall review for each mandatory and voluntary event on lent securities. Builds the recall decision matrix: which events require full recall, which permit manufactured payment, and which can be handled through the income collection agreement. Includes the claim workflow for manufactured dividends and the documentation required to support the tax treatment.

Module 8. Counterparty Dispute Resolution

Defines the dispute categories that appear most frequently in a securities lending context: collateral valuation disagreements, fee calculation differences, and position quantity breaks. Builds a dispute log with aging thresholds that trigger escalation to the counterparty relationship manager or to legal. Covers the reconciliation evidence pack that supports the operations team's position in a formal dispute.

Module 9. Regulatory Reporting Beyond SFTR

Covers the other reporting obligations that sit alongside SFTR for a bank running a securities lending desk: Form SLT (SEC monthly position report), the PRA and FCA notifications for significant fails, and the internal capital reporting for repo and securities lending exposures. Builds the reporting calendar that maps each obligation to its source data, responsible team, and submission deadline.

Module 10. Income Accrual and Fee Reconciliation

Covers the fee accrual calculation for a portfolio of lending agreements with different rate types: fixed fee, rebate, and all-in rate structures. Builds the monthly income reconciliation that compares accrued fees against counterparty statements before invoicing. Identifies the four most common sources of fee discrepancy (rate rounding, start date interpretation, recall fee calculation, and manufactured payment netting) and the resolution path for each.

Module 11. Operational Control Metrics and Reporting to Management

Builds the monthly operational control report covering fail rate by counterparty, SFTR reject rate by field category, collateral substitution volume and settlement rate, and open dispute aging. Defines the thresholds that trigger a management escalation versus a process review. Covers the one-page summary format that allows senior management to understand the operational risk position without needing to read the full reconciliation pack.

Module 12. Building a Control Framework That Holds Under Volume

Brings the twelve modules together into a single operational control framework document: the daily checklist, the weekly reconciliation review, the monthly management report, and the annual review of collateral schedules and counterparty documentation. Covers the change management process for introducing new controls to the team so that adoption is consistent. Provides the implementation playbook template that the course materials adapt to your specific book.

How this addresses your situation

Specific modules that map to what you said you are dealing with.

SFTR reject lands at 15:40 with a UTI linkage error: Module 2 embeds the pre-submission check that catches this before the submission window.

Counterparty disputes the collateral valuation and the conversation goes into email: Module 8 builds the dispute log and escalation path that resolves this in two business days.

Corporate action coupon paid on a lent bond and the manufactured payment claim is not filed on time: Module 7 builds the recall calendar trigger and claim workflow.

Collateral substitution request arrives at 16:10 and there is no clear process for same-day settlement: Module 6 builds the substitution workflow with intraday deadlines mapped.

What you get with this course

Twelve written modules covering the full securities lending operations control framework.
Downloadable templates for every workflow: SFTR pre-submission checklist, collateral substitution log, corporate action recall matrix, dispute log, monthly management report.
Hand-built implementation playbook tailored to your book size, counterparty mix, and current control gaps, delivered alongside course access.
Worked examples drawn from real operational scenarios: SFTR field reject resolution, collateral substitution under time pressure, manufactured dividend claim filing.

What you will have in hand by Day 1, Week 1, Month 1

Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.

Before and after

Before

Recurring SFTR rejects handled reactively after the trade repository returns them. Collateral substitution routed through email with no audit trail. Corporate actions on lent securities managed from memory and calendar reminders. Daily reconciliation that does not close before 17:30 because open items have no documented resolution path.

After

SFTR submissions pass the pre-submission validation check before they reach the trade repository. Collateral substitutions follow a documented workflow with same-day settlement where possible. Corporate action recalls are triggered by a systematic calendar review rather than manual monitoring. Daily reconciliation closes by a fixed time with every open item aged, categorised, and on a resolution path.

What happens if you do not address this

The operational gaps that produce recurring queue items do not stay stable as volume grows. A collateral substitution process that works at twenty requests per month fails at eighty. An SFTR reporting process that relies on manual field checking produces compounding reject rates as the book grows. Regulatory attention on SFTR compliance has increased, and a persistent reject rate across a quarter is the kind of pattern that generates an inquiry. The cost of fixing the control framework rises with each month it is not done.

Who it is for

You are an operations manager running the day-to-day of a securities lending book at a bank or asset manager. You handle trade settlement, collateral management, SFTR and other regulatory reporting, fails management, and the reconciliation of positions against custodian and counterparty records. You have a team, but the control framework design is yours to own. You know where the recurring breaks come from. This course gives you the systematic approach to close them.

Who this is NOT for. Front office traders who do not own the operational control layer. Middle office analysts who are not in a position to redesign workflows. Operations professionals outside securities financing who would not recognise the specific SFTR, collateral substitution, or recall workflow contexts.

How it arrives

Text-based course in the Art of Service learning environment, plus downloadable templates and worked examples for every module, plus the hand-built implementation playbook delivered alongside course access.

Time investment. Twelve modules designed for focused reading in 45-60 minutes each. Most participants complete the course over two to three weeks while continuing their normal operational responsibilities.

Why $199 is the right number

Securities lending operational training is typically delivered through industry bodies at a cost of several thousand dollars and a multi-day away format that is hard to justify for a single manager. Internal training is usually product-focused, not operations-control focused. This course is designed for the specific control-framework gaps that an operations manager owns and can fix without needing to retrain the whole team.

FAQ

Is this specific to a particular market or jurisdiction?

The SFTR content covers EU reporting requirements. The collateral management, fails, and reconciliation modules apply broadly to any market where securities lending is conducted under a GMSLA framework. The implementation playbook is adapted to your specific jurisdiction and counterparty mix.

Do I need to involve my compliance or legal team to implement the controls?

The operational controls in modules 2 through 10 are within the operations manager's remit. Module 9 covers the regulatory reporting obligations where compliance sign-off is typically required. The implementation playbook will flag which controls need compliance review before deployment.

How does the hand-built playbook work?

After purchase, Gerard reviews your book size, counterparty structure, and the control gaps you identify in the course intake. The playbook is built to those specifics and delivered within 24 hours alongside your course access. It is not a generic template; it is written for your operational context.

30-day money-back guarantee. If after a week of working through the materials this is not what you needed, reply to the receipt email and a full refund is processed. No questions, no forms.

Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.