We are seeking a highly motivated and experienced OTC Trade Confirmation and Settlement Sr. Supervisor to oversee and manage the end-to-end trade confirmation and settlement process for Over-the-Counter (OTC) derivatives. The ideal candidate will possess a strong understanding of OTC derivative products, trade lifecycle, and regulatory requirements, coupled with excellent leadership and communication skills. This role requires a proactive individual who can identify and implement process improvements, manage risk, and ensure timely and accurate settlement of trades.
Responsibilities:
Trade Confirmation:
- Oversee the timely and accurate confirmation of OTC derivative trades, including interest rate swaps, credit default swaps, equity derivatives, and commodity derivatives.
- Ensure adherence to industry best practices and regulatory requirements, such as Dodd-Frank and EMIR.
- Resolve confirmation discrepancies and disputes with counterparties.
- Monitor and improve confirmation rates and reduce outstanding confirmations.
Trade Settlement:
- Manage the end-to-end settlement process, ensuring timely and accurate settlement of OTC derivative trades.
- Coordinate with counterparties, custodians, and internal stakeholders to resolve settlement issues.
- Monitor settlement performance and identify areas for improvement.
- Ensure compliance with settlement procedures and regulatory requirement
Process Improvement:
- Identify and implement process improvements to enhance efficiency, accuracy, and control.
- Streamline workflows and automate manual processes where possible.
- Develop and maintain process documentation and procedures.
- Implement and maintain appropriate controls to mitigate operational risk.
- Utilize and optimize trade confirmation and settlement systems.
- Identify opportunities to leverage technology to improve efficiency and reduce risk.
Risk Management:
- Identify and assess operational risks within the trade confirmation and settlement process.
- Develop and implement controls to mitigate identified risks.
- Ensure compliance with internal policies and procedures, as well as regulatory requirements.
- Participate in risk management assessments and audits.
Stakeholder Management:
- Build and maintain strong relationships with internal stakeholders, including trading, legal, compliance, and IT.
- Liaise with external counterparties, custodians, and service providers.
- Communicate effectively with stakeholders to resolve issues and provide updates.
Reporting and Analysis:
- Develop and maintain key performance indicators (KPIs) to monitor the performance of the trade confirmation and settlement process.
- Prepare and present reports to senior management on key metrics and trends.
- Analyze data to identify areas for improvement and potential risks.
Qualifications:
- Minimum of 7 years of experience in OTC derivative trade confirmation and settlement.
- Strong understanding of OTC derivative products, trade lifecycle, and regulatory requirements.
- Proven experience in leading and managing a team.
- Excellent communication, interpersonal, and problem-solving skills.
- Strong analytical and data analysis skills.
- Proficiency in trade confirmation and settlement systems.
- Knowledge of regulatory requirements, such as Dodd-Frank and EMIR.
- Ability to work independently and as part of a team.
- Strong attention to detail and accuracy.
- Prior experience with process improvement methodologies, such as Lean or Six Sigma is preferred.
Education:
- Bachelor's degree in Finance, Accounting, or a related field.
This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.------------------------------------------------------
Job Family Group:
Operations - Transaction Services------------------------------------------------------
Job Family:
Cash Management------------------------------------------------------
Time Type:
Full time------------------------------------------------------
Most Relevant Skills
Please see the requirements listed above.------------------------------------------------------
Other Relevant Skills
For complementary skills, please see above and/or contact the recruiter.------------------------------------------------------
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