Operations - Intern (US)

Job Description
If you aspire to:

• Work within Operations on a fast-paced, dynamic, and intellectually-challenging team
• Collaborate internally and externally with trading/financing desks, counterparties, exchanges, prime brokers, and custodians
• Add value by assisting in the lifecycle of a trade including clearance, settlements, event management, and/or cash management
• Add value by identifying and implementing technology and process-improvement opportunities, while demonstrating an intellectual curiosity and passion for innovation
• Develop your skills and solve some of the most complex business problems in our industry

If you've got an interest in:

• Learning about financial markets and products
• Working in a dynamic, fast-paced, and highly rewarding environment
• Gaining exposure to best-in-class systems and processes
• Understanding the full life-cycle of a trade from execution to clearance, settlement, event management, and cash management
• Learning about different types of securities financing, including prime brokerage, swap, tri-party, stock loan, and repo

If you've proven you have:

• A passion to work within the Operations department
• A flexible but highly detail-oriented and results-driven approach to solving problems
• Exceptional communication skills
• A strong work ethic, intellectual curiosity & high degree of integrity
• Proficiency in Excel and data analysis. Familiarity with basic programming a plus.
• An academic background and/or experience in an operational or quantitative field (engineering, accounting, finance, economics, math, or related disciplines)

Placement Opportunities:
Billing

• The team's mission is to provide the entire firm (Hedge Fund and Broker Dealer) with a full suite of business tools around income and expense information
• Partner closely with business COO's, trading desks and fund managers
• Deliver process improvement opportunities through the deployment of technology, process and people redesign
• Ensure accurate capture and application of rates and rules. Products include securities, listed derivatives, OTC products, and private deals
• Ensure timely resolution of breaks through internal and external communication channels. Provide recommendations and enhancements to existing processes.

Clearing / Middle Office

• Confirm all transactions executed on exchange list products
• Managing client relationships between the trading and finance desk, or trading counterparties and exchanges, and our prime brokers and custodians
• Work directly with trading desks to understand and implement posting and clearance of new trading strategies
• Identify opportunities to improve process, define functional requirements for systems, and implement change

Asset Servicing

• Analyze, validate and maintain data quality for all global Corporate Action event types
• Manage relationships with internal and external stakeholders to ensure data accuracy and completeness
• Demonstrate a creative mindset by seeking out technical solutions to reduce manual touch points
• Identify process enhancements and work with management to execute business transformation strategies

Settlements

• Work with counterparties and depositories to instruct, monitor, and settle buys/sells, stock borrow, and repo trades for equities (DTC), government bonds (FED), mortgage-backed securities, and physicals
• Manage daily contract maintenance events, including mark-to-market, contract compare, rate changes, and recalls
• Create and distribute various broker dealer regulatory reports such as Possession or Control, Short Interest, Customer Statements, and Fails
• Collaborate with IT to identify and implement improvement opportunities that drive straight-through processing

Collateral Management

• Assist in processing daily collateral calls and managing exposure between entities and counterparties
• Perform liquidity reserve maintenance, investment, and reporting
• Identify opportunities to improve processes, define functional requirements for systems, and implement change

Opportunities available in New York.
In accordance with New York City's Pay Transparency Law, the base salary range for this role is $35 to $40 per hour. Base salary does not include other forms of compensation or benefits.
About Citadel
Citadel is one of the world's leading alternative investment managers. We manage capital on behalf of many of the world's preeminent private, public and nonprofit institutions. We seek the highest and best use of investor capital in order to deliver market leading results and contribute to broader economic growth. For over 30 years, Citadel has cultivated a culture of learning and collaboration among some of the most talented and accomplished investment professionals, researchers and engineers in the world. Our colleagues are empowered to test their ideas and develop commercial solutions that accelerate their growth and drive real impact.