Derivatives Operations Specialist III

Derivative Operations Confirmation and Settlements Specialist-Responsible for confirmation and settlements or bilateral swap transactions. Support the accounting and regulatory reporting of fixed income derivatives.

Responsible for operational function for bilateral derivatives executed by the Bank. This includes confirming, reconciling, and resolving discrepancies for cash payments with our derivative counterparties. Derivatives operations is part of financial accounting, and this function is a key control for the bank.

Essential Duties:

• Responsible for the bilateral swap counterparty payment process
• Generate and review preliminary payment reports from derivatives transaction platform.
• Communicate with counterparties to obtain outstanding payment advice confirmations.
• Maintain daily filing of swap payment advice, email approvals and other supporting documents.
• Contact swap counterparties in the event of disputes and follow-up until all discrepancies are resolved.
• Maintain daily spreadsheets to calculate payments for SOFR so they can be confirmed timely.
• After preliminary approval is completed. Re-generate appropriate payments on payment day to Wire-Room.
• Reconcile the and resolve payment discrepancies.
• Follow up with counterparties for the overpaid or non-received fund resulting in timely resolution.
• Prepare analysis of swap counterparty payments for tax reporting
• Support other Financial Accounting duties as necessary.
• Suggest enhancements to gain efficiencies in current process.
• Act as a backup for the daily derivative valuations reconciliations
• Monthly analysis of the counterparty ratings maintained in front office systems.
• Maintain solid working relationships with counterparties such that minimizes delays in receiving payment advice from swap counterparties.
• Participate in data collection for the preparation of financial statements and regulatory reports.

Education:

BS in Business; Accounting or Finance

Skills:

Analytical and Strong PC skills

Experience:

Two to four years working in Financial Services Industry or Public Accounting with experience with Fixed Income operations and settlements. Familiarity with fixed income derivatives accounting and ISDA protocols.

Salary: $70,000 -$85,000

Skills: