Capital Markets Middle Office Manager - Derivatives

Regions Bank•Atlanta, GA

2d•Onsite

About The Position

At Regions, the Capital Markets Middle Office Manager - Derivatives is responsible for managing the Middle Office functions that are associated with the Bank’s Interest Rate and Commodity Derivatives trading desk within the Capital Markets business. The Derivatives Middle Office is a part of Capital Markets Operations at Regions Bank. Primary responsibilities of the Middle Office include valuation control and ensuring the integrity of positions feeding the firm’s balance sheet. Key deliverables for the Derivatives Middle Office include Risk and Profit and Loss (P/L) reporting, as well as Independent Price Verification (IPV) and Collateral Management.

Requirements

Bachelor’s Degree
Ten (10) years of experience in the financial services industry, trading floor, brokerage, and/or investment banking
Expert knowledge of valuation methodology as carried out within derivatives application, Calypso or other platforms
Proficient Microsoft Office skills
Ability to thrive in a fast-paced trading environment
Proven history of strong analytical skills
Strong communication skills, ability to effectively communicate with senior management or internal/external regulator

Nice To Haves

Bachelor’s in Finance or Accounting preferred
Chartered Financial Analyst (CFA)
Previous management experience
Experience working with interest rate and/or commodity derivatives

Responsibilities

Mentors and trains a team of analytical Middle Office associates to support a fast-paced trading and client-facing business in Capital Markets
Owns and accountable for reporting daily P/L and Risk that may have material impact to firm’s financial statements and regulatory compliance, including, but not limited to Dodd-Frank, Basel Requirements, Volcker Rule, and Sarbanes-Oxley.
Serves as Middle Office first line-of-defense for any escalation for day-to-day issues for Sales and Trading, Collateral Management and Client reporting
Provides portfolio analyses and reporting to key governance committees including, but not limited, to Valuation Committee, CM Risk Committee, and Credit Risk Committee
Ensures timeliness and accuracy of daily deliverables, including P/L and Risk reporting
Serves as subject-matter-expert to identify, analyze, and remediate any valuation issue from end-to-end, ranging from market data, curve construction methodology, pricing system maintenance, and proper trade entry.
Serves as liaison with Derivatives system vendor, Calypso and internal Technology team. Functions include building fix/enhancement specifications, coordinating delivery, testing and implementing.
Oversees trade capture and trade confirmation process ensuring large transactions are booked accurately and researches any variations that may impact booking
Reviews Finance Accounting Standards (FAS) 157 and associated Credit Value Adjustment analysis
Manages daily margin call process for bilateral and cleared trades
Supports testing and development of new automation efforts that enhance efficiency of Derivatives Middle Office processes
Ensures compliance with regulatory initiatives such as the Liquidity Coverage Ratio (LCR) and Swap Data Repository (SDR) reporting
Responsible for managing bilateral and cleared collateral calls with large dealers and investment banks as per ISDA/CSA protocol and engagement with FCM counterparties
Key contributor to vendor supported trading applications, i.e., participates in and/or leads enhancements, upgrades, etc.
Implements new and improves existing processes that drive profitability, risk management, trade review, and collateral management
Develops successful relationships with key partners including: Front Office, Back Office, Risk Management and Technology