Certified Associate - Securities Lending & Collateral Management

A long/short investment strategy involves taking a long position in undervalued stocks while selling short over-valued stocks. When securities are sold short, to meet settlement obligations, a seller needs to borrow securities from those who own the securities. This scenario is one of the many where securities lenders make their assets available to borrowers, accepting cash or other collateral against default - a business that has grown to more than $3 trillion on loan. The process transferring shares or bonds temporarily to a borrower is known as securities lending.


Skill Board Associate certification in Securities Lending & Collateral Management evaluates candidates for fundamental knowledge of securities operations, securities lending, collateral management and the necessary skills to resolve common business problems in operations and technology that enables financial markets function smoothly. The assessment is conducted through an online remote proctored test.


Candidates can choose between two certification options:


  • Certified Business Operations Associate (CBOA) - Securities Lending & Collateral Management is issued to candidates with 1+ years of career experience in prime brokerage, securities operations, investment banking operations, hedge fund business operations and successfully pass the assessment for the CBOA certification.


  • Certified Business Technology Associate (CBTA) - Securities lending & Collateral management certification is issued to candidates with 1+ years of career experience in Securities & Capital Markets technology and business processes and successfully pass the assessment for the CBTA certification.

Next available assessment date:

Jun 10
Online verifiable
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Who should get certified
  • Business Analysts with 1+ years of experience working in securities operations.
  • Developers and QAs with 1+ years of experience working on securities lending and collateral management applications.
  • Business Operations Associates with 2+ years of experience working in securities lending and collateral management.
  • Banking professionals who are exploring careers opportunities in information technology.
Candidates are evaluated for
  • Understanding buy-side and sell-side firms, market infrastructure providers and regulators.
  • Understanding of traditional asset classes, derivatives and alternative investments.
  • Understanding of investment management processes.
  • Understanding of trade processing and securities settlement.
  • Understanding of data and analytics in capital markets.
  • Understanding of regulatory frameworks in the securities industry.
Maintaining the certification
  • Certified Associates are required to recertify after 3 years either by taking a recertification assessment or through continuing education credits.
  • Continuing education credits may be earned by taking industry certifications, participating in industry conferences including professional presentations and writing industry thought papers that get published on skillboard.org or other online forums.
Assessment weightage by Knowledge Area

Capital Markets Industry Overview

Trading Basics. Market Participants, Securities Trade Lifecycle.


Investment instruments

Equities, Fixed Income, Money Markets, Foreign Exchange, Commodities, Derivatives, Repos.


Securities Operations

Transaction Management, Securities Settlement, Corporate Actions Processing, Securities Valuation, Risk Management.


Securities Lending

Securities Lending Processes, Agency and Principal Lending, Supply and Demand, Inventory Management, Cross-border Lending, Loan and Collateral Settlement, Controls, Revenue Drivers, P&L.


Risk Management Basics

Credit, Market and Operational Risk.


Collateral Management

OTC Market Participants, Collateral Management Processes & Workflow, Exposure & Margin Calculation, Collateral Agreements, Collateral Movements, Reconciliation, Collateral Optimization, Regulations.


Market Utilities

Platforms including Eqilend, Loanet, Pirum, Acadia, Acadia, Tri-Party Agents, Third Party Agents, Trioptima Trade Recon.


Application Technology (Applicable to CBTA Certification)

Securities Lending & Collateral Management Technology Platforms.