Analyst, Derivatives Settlements

Sumitomo Mitsui Banking Corporation•City of White Plains, NY

1d•$67,000 - $80,000•Hybrid

About The Position

Own the end-to-end settlement, lifecycle event processing, and reconciliation of derivative transactions, with a primary focus on OTC Interest Rate Derivatives including swaps, caps, floors, and related cash flows. In this role, you’ll sit at the center of the Derivatives and FX Operations team, ensuring payments, resets, maturities, rate fixings, and settlement instructions are processed accurately, on time, and in line with internal controls, regulatory expectations, and counterparty requirements.

Requirements

Experience in derivatives operations, settlements, trade support, or middle office functions, preferably with OTC Interest Rate Derivatives.
Strong understanding of the derivative trade lifecycle, including confirmations, settlement instructions, cash flows, resets, rate fixings, maturities, amendments, and terminations.
Familiarity with industry utilities and platforms such as SWIFT, Bloomberg, DTCC, Alert, MarkitWire, and clearing platforms.
Strong control mindset with the ability to identify settlement risk, escalate issues appropriately, and follow through on exception resolution.
Detail-oriented and deadline-driven, with the ability to manage high-volume settlement activity and competing priorities in a fast-paced environment.
Analytical, proactive problem-solver with strong communication skills across Operations, Front Office, Middle Office, Technology, and external counterparties.
Proficiency in Excel and comfort working across financial systems, reconciliation tools, and reporting platforms.

Nice To Haves

Curiosity to expand your knowledge across multiple asset classes.

Responsibilities

Validate, process, and settle OTC Interest Rate Derivative transactions, including swaps, caps, floors, and related derivative cash flows.
Manage daily settlement activities, including payment calculations, cash movements, netting, rate fixings, resets, maturities, and lifecycle event processing.
Monitor trade confirmations, allocations, settlement queues, and exception reports; investigate discrepancies and drive timely break resolution through to closure.
Reconcile derivative activity and cash movements across internal systems, custodians, brokers, clearing houses, and counterparties to ensure books and records remain accurate.
Partner closely with Front Office, Middle Office, Treasury, Finance, Technology, Legal, and external counterparties to resolve failed settlements, reduce recurring breaks, and support smooth trade lifecycle management.
Maintain accurate transaction records and support audit, regulatory, controls testing, and management reporting requirements related to derivative settlements.
Process new and updated settlement instructions, ensuring required documentation is received, validated against procedures, and retained appropriately for audit purposes.
Conduct call backs and other control checks to validate settlement instructions and reduce payment and operational risk.
Track outstanding cap documentation, reconcile cap payments on hold, and support timely payment release once documentation and approvals are complete.
Produce daily and weekly reporting for management and advisors, including clear explanations for delayed cap payments such as missing documentation, wire forms, or lender consent.
Investigate settlement fails, including fail-to-receive and fail-to-pay claims, and provide Front Office partners with comprehensive analysis to support decision-making.
Escalate disputed claims and unresolved settlement issues to the Front Office for further review, guidance, and appropriate next steps.
Identify opportunities to improve derivative and FX settlement workflows, strengthen operational controls, reduce manual intervention, and enhance scalability across systems and processes.