Interest Rate Derivatives Operations Manager
Location
Troy, MI | United States
Job description
As a direct report to the Director – Corporate Banking Rates/FX Management Segment, this role will be responsible for managing and optimizing the daily operations of our derivatives trading activities. This role requires a deep understanding of derivatives instruments, prevailing regulatory trends, legal components encompassing derivatives, exceptional leadership skills and the ability to drive operational efficiency. This role’s primary focus is to improve efficiencies in middle & back-office derivatives functions, processes and procedures. This role will reduce operational risks and to enhance overall compliance within the organization in support of the bank’s growing business and ever evolving regulatory and governance requirements.
- Manage the execution and clearing of derivatives trades, ensuring compliance with regulatory requirements.
- Monitor trade lifecycles, including trade capture, confirmation, and settlement.
- Spearhead systems/platform upgrades to our derivatives management system.
- Implement risk management strategies to mitigate market and operational risk associated with derivatives sales and trading.
- Identify opportunities for process optimization and automation to enhance operational efficiency. Augment and update periodically processes, procedures and policies.
- Partner with cross functional teams to implement improvements.
- Stay up to date with relevant regulations and ensure that all derivatives sales and trading activities comply with applicable laws.
- Oversee regulatory reporting and audits as necessary.
- Manage relationships with external vendors, including trading platforms, clearinghouses, and bank counterparty trading partners.
- Ensure effective communication and resolution of any operational issues with vendors.
- Monitor and analyze the performance of derivatives portfolios.
- Collaborate with commercial team members to analyze and implement portfolio updates as necessary in terms of changes in credit spreads and exposures.
- Prepare and present regular reports on derivatives operations and performance to senior management.
- Uses independent judgement and discretion to make decisions (assessing complex situations, identifying unforeseen operational challenges, prioritizing tasks, and ultimately implementing process & procedural improvements).
- Analyzes and resolves problems pertaining to (any operational issues both within & outside the organization)
- Performs special projects, and additional duties and responsibilities as required.
- Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
Job Requirements:
- Undergraduate Degree (4 years or equivalent) in business administration, economic, finance, or related field.
- Master's Degree (or Postgraduate equivalent) preferred.
- CFA or FRM certification preferred.
- Minimum experience required: 10+ Years in derivates sales & trading operations including OTC
- Professional Risk Manager (PRM certification).
- Strong knowledge of financial markets, derivatives products, and risk management.
- Excellent leadership and team management skills.
- Proficiency in relevant software and trading platforms.
- Analytical mindset with the ability to solve complex problems.
- Strong communication and interpersonal skills.
- Attention to detail and a commitment to compliance and risk management.
- Deep insight and understanding of the ISDA documentation and Dodd Frank legal/regulatory compliance framework, documentation and procedures.
- Extensive Microsoft Office skills (Outlook, Word, Excel, PowerPoint)
- Various business travel 2-3 times per quarter
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