Commodity Derivatives Products Operations Analyst

U.S. Bank • Chicago, IL

1d

About The Position

U.S. Bank is seeking a Commodity Derivatives Products Operations Lead/Analyst with relevant experience that will contribute toward the success of our operational initiatives in the Derivatives space. This position reports to the Head of Derivatives Operation Back Office and will partner with business line, operations, technology, and compliance stakeholders to implement and maintain the operational solutions necessary to support commodity derivatives business buildup by creating effective procedures and controls for client onboarding, confirmations, settlements, and reporting processes. The Back Office Lead will also participate and/or lead various ad hoc projects, such as system upgrades and testing. The ideal candidate should help Head of Back Office to identify automation opportunities and areas of improvements.

Requirements

• Bachelor’s degree, or equivalent work experience
• Typically six or more years of related experience
• In-depth knowledge and working experience of Back Office environment experience and commodity experience in precious metals, oil, and or energy markets.
• Hands-on experience with Settlements and UAT testing and an inquisitive mind.
• Advanced proficiency with Excel Functions and VBA Knowledge is a plus.
• Strong understanding of Calypso or similar trading platform and how to navigate the software to batch files, track trade execution and reporting, and execute on-demand reports.
• Proficient ability to write, troubleshoot and implement macro enabled tools to improve process efficiencies.
• Ability to develop and implement macro-enabled tools for efficiency.
• Experience with audit/regulatory issue management, response, and escalation.
• Proven success in process improvement and operational change within capital markets.
• Demonstrated experience in the successful implementation of operational process change and improvement within capital markets operations.
• Strong process facilitation and project management skills.
• Strong presentation, relationship building, collaboration and negotiation skills.
• Self-motivated, highly organized, and able to work independently without direct supervision.

Responsibilities

• Contribute to Back Office responsibilities including client onboarding, confirmations, settlements and cash reconciliations etc.
• Demonstrate deep understanding of commodity derivatives markets with in-depth knowledge of various derivative products (Swaps, Caps/Floors/Collars and Futures) including understanding of market price setting and cash payment calculations
• Demonstrate deep understanding of ISDA Definitions related to Confirmations.
• Hand on experience to build various processes and reporting and familiar with technology required to troubleshoot and resolve trade, cash settlement, confirmation and system configuration issues.
• Produce innovative ways to refine processes as a means of improving efficiencies allowing for both Commodity derivatives Front & Back Office to adapt to the growing needs of the business
• Demonstrated ability to Lead multiple special projects and/or activities designed to resolve pain points for Front, Middle or Back Office teams, including Confirmation template development, Settlements, Reporting and application upgrades
• Collaborate with teams across Derivative Trading Front Office, Technology & Operations Services, Compliance, Legal, Market Risk Management, Treasury, and Finance, to ensure transparent and aligned objectives with seamless resolution delivery
• Define and document business requirements and procedures to ensure all business rules are applied consistently across different technology solutions and user interfaces.
• Act as liaison between Commodity derivatives Front Office and Development, tracking and identifying open issues for upcoming Agile Sprint deliveries.
• Act as Business Line stakeholder accountable for validating test requirements in lower environments while simultaneously creating and testing a personal suite of test cases to ensure product deliverables meet expectations prior to go-live.
• Represent Back Office in both internal and external audits demonstrating operational understanding and compliance with various rules and regulations including Dodd-Frank, Volcker and Sarbanes-Oxley
• Successfully on-board and train staff ensuring they can support the daily needs of the business.
• Create and lead training and development programs conducted across various organizations within the bank specific to building the knowledge and understanding of derivatives.
• Process onboarding, settlement, confirmation, and configuration tasks as necessary in support of the Derivatives Products Group Rates and Commodity/Energy trading activity

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees