Associate Director Treasury

Royal Bank of Canada•Chicago, IL

3d•Onsite

About The Position

We are seeking an experienced and strategic Associate Director of Treasury to lead our Futures and Cleared Derivatives team at RBC Capital Markets, LLC. This role oversees FCM treasury operations across global markets, ensures regulatory compliance with CFTC standards, and drives operational excellence and process innovation across cash and non-cash collateral management—including emerging technologies such as tokenization. Maintains robust bank account reconciliation processes and oversees margin settlement activities across our multi-jurisdictional platform. The position leads a geographically dispersed team and serves as a critical function within the futures operation’s framework.

Requirements

Bachelor’s degree in finance, Accounting, Business Administration, or related field
Minimum 8–10 years of progressive experience in futures operations, treasury, or financial services operations, with at least 3–5 years in a people management role
Deep understanding of FCM treasury operations, including cash and collateral management, margin processing, and bank reconciliations
Strong knowledge of US CFTC regulations (Parts 1, 22, 30), NFA requirements, and Canadian IIROC/CIRO rules related to customer segregation, capital, and custody
Proven ability to lead and develop teams across multiple locations
Excellent analytical, problem-solving, and organizational skills
Strong communication and stakeholder management abilities
Proficiency in Microsoft Excel and experience with treasury or operations systems (ION XTP preferred
Proven experience managing regulatory audits, documentation frameworks, and compliance controls around collateral management and fund segregation.
Awareness of regulatory developments around digital assets and tokenization preferred.

Nice To Haves

Experience with UK/EU regulatory frameworks (FCA, EMIR) related to futures clearing
Familiarity with multiple clearing houses (CME, ICE, CDCC, Eurex) and their margin and collateral requirements
Experience implementing process improvements or technology solutions in treasury operations
Knowledge of reconciliation tools (e.g., Imatch ETD, Xceptor, XTPMatch)

Responsibilities

Manages the day-to-day treasury operations for the FCM, including oversight of segregated and non-segregated bank accounts used for client margin, proprietary trading, and operational funding.
Monitors daily cash positions, approves fund transfers in accordance with regulatory requirements, and ensures compliance with CFTC Rule 1.20–1.30 (segregation of customer funds), CFTC Rule 30.7 (secured amount for foreign futures), and comparable Canadian IIROC/CIRO capital and segregation rules.
Oversees the movement of cash and non-cash collateral between clients, clearing houses (including CME, ICE, CDCC, Eurex), carry brokers, and internal house accounts.
Manages collateral substitutions, monitors collateral adequacy, and coordinates with clearing teams to optimize margin efficiency while maintaining regulatory compliance.
Responsible for the daily reconciliation of multiple bank accounts held by the US affiliate and other entities within the futures business.
Matches funds in and funds out against client money movements, identifies and resolves discrepancies, and maintains accurate records for audit and regulatory attestation purposes.
Ensures timely escalation of breaks and partners with internal finance, compliance, and operations teams to resolve reconciliation issues.
Ensures margin settlements are completed within required timeframes and in compliance with clearing house rules and internal risk policies.
Coordinates with client services teams across regions to manage margin disputes, exceptions, and escalations.
Ensures all treasury activities comply with applicable regulatory requirements in the US (CFTC, NFA), Canada (IIROC/CIRO, CDCC), UK/EU (FCA, EMIR), and other jurisdictions where the firm operates.
Supports internal and external audits by providing documentation, reconciliations, and process walkthroughs.
Leads a team of seven professionals across two locations: three Senior Analysts in Chicago and one Manager plus three indirect reports in Halifax.
Responsible for hiring, performance management, career development, and succession planning.
Fosters a collaborative team culture across geographies and ensures effective knowledge transfer and cross-training to support business continuity.
Establishes clear performance expectations, conducts regular one-on-ones, and provides coaching to enhance technical skills and professional growth.
Manages workload allocation to balance operational demands with development opportunities.
Identifies opportunities to streamline treasury processes, enhance automation, and reduce operational risk.
Partners with product and service management teams on projects to improve cash and collateral workflows, system integrations (ION XTP, middleware), and reporting capabilities.
Implements and maintains robust controls, SOPs, and escalation procedures for treasury operations.
Works closely with clearing operations, client services, reconciliations, finance, treasury, risk management, compliance, and legal teams to ensure seamless coordination of treasury activities.
Serves as the primary operational liaison to banking partners and clearing houses on treasury matters.
Participates in cross-regional operational forums to share best practices and drive consistency.
Maintains expertise in ION XTP (books and records system) and related middleware platforms (ION SEALS, EA Trade, TDN) as they relate to cash and collateral processing.
Works with IT and vendors to troubleshoot system issues, support system upgrades, and ensure data integrity for treasury reporting.

Benefits

competitive compensation
flexible benefits
401(k) program with company-matching contributions
health, dental, vision, life, disability insurance
paid-time off
Leaders who support your development through coaching and managing opportunities.
Ability to make a difference and lasting impact.
Work in a dynamic, collaborative, progressive, and high-performing team.
Opportunities to do challenging work.
Opportunities to build close relationships with clients.