Analyst – Interest Rate and Commodity Derivatives

Flagstar Bank•New York, NY

1d•Onsite

About The Position

The Derivatives Analyst supports the structuring, pricing, execution, and risk management of both interest rate and commodity hedging solutions within the Capital Markets division. This cross asset role provides analytical and operational support to senior sales professionals covering corporate, commercial, energy, real estate, and private banking clients. The Analyst develops foundational product knowledge across swaps, options, caps/floors, energy hedges, and market fundamentals while contributing to the growth of the bank’s derivatives platform. Flagstar Bank is a diversified consumer and commercial bank grounded in building relationships to meet clients where they are on their financial journeys. Our parent company, New York Community Bancorp, Inc., is based in Hicksville, NY, and has $116.3 billion in assets, $85.6 billion in loans, $81.4 billion in deposits, and $10.8 billion in total stockholder equity. We are a leading regional bank with 420 banking branches, 134 private client banking teams, wholesale lending via approximately 3,000 third-party originators, retail mortgage lending, multifamily lending, mortgage servicing, and subservicing. We’re also the second largest mortgage warehouse lender nationally based on total commitments. Flagstar has strong footholds in the Northeast and Midwest and exposure to high-growth markets in the Southeast and West Coast. We are driven by our commitment to partner with our clients to set and reach goals together, helping them to take charge and thrive.

Requirements

High School Diploma or Equivalent required.
Strong quantitative skills with proficiency in Excel (pivot tables, financial modeling).
Understanding of financial markets, fixed‑income products, commodities, or derivatives concepts.
Excellent analytical, organizational, and problem‑solving skills.
Strong communication skills with ability to translate analytics into clear business insights.
Curiosity, attention to detail, and ability to work efficiently in a fast‑paced environment.

Nice To Haves

Bachelor’s degree in Finance, Economics, or related field.
Internship experience in financial markets, fixed-income products, commodities, or derivatives concepts.
Exposure to Bloomberg, market‑data platforms, or derivatives pricing tools.
Experience from internships in sales & trading, energy risk, corporate treasury, or commercial banking.
Basic knowledge of hedge accounting (ASC 815), ISDA documentation, or credit processes.

Responsibilities

Monitor interest rate markets, central bank policy, macroeconomic trends, yield‑curve shifts, and cross‑commodity fundamentals (crude oil, natural gas, refined products).
Prepare daily and weekly market updates, pricing summaries, and internal commentary for sales and relationship teams.
Build working knowledge of derivatives including: Interest Rates: swaps, swaptions, caps, floors, collars, cross‑currency swaps & Commodities: WTI/Brent oil hedges, Henry Hub natural gas hedges, collars, three‑ways, calendar spreads, basis/location hedges.
Support senior sales by running pricing models, scenario testing, and stress cases for both IRD and commodity strategies.
Prepare client-ready materials such as trade ideas, pitchbooks, risk profiles, and economics comparisons.
Contribute to structuring discussions for hedges tied to loan originations, refinancing, acquisition financing, or reserve‑based lending (for energy clients).
Coordinate end-to-end trade execution with sales, trading, middle office, and operations teams.
Draft and help review term sheets, confirmations, and booking instructions to ensure accuracy and policy compliance.
Support regulatory processes including trade reporting, clearing/margin checks, and KYC/credit workflows.
Maintain trade logs, pricing databases, and analytics tools to support platform reporting and revenue tracking.
Assist with counterparty credit exposure tracking, mark‑to‑market monitoring, and limit usage analysis.
Ensure adherence to internal controls, bank risk policies, and regulatory requirements (e.g., Dodd‑Frank).
Work with Relationship Managers to prepare client materials, identify hedging needs, and support cross‑sell efforts across IRD and commodities.
Partner with Credit, and Loan Syndications to evaluate how hedging strategies interact with credit structures and the bank’s risk appetite.
Participate in platform enhancement efforts related to pricing tools, analytics dashboards, pipeline tracking, and digital client content.
Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights.
Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.