Settlements

Sumitomo Mitsui Banking Corporation•City of White Plains, NY

3d•Hybrid

About The Position

The Director of Derivatives Settlements will be a senior member of the Derivatives Operations team, supervising a team of roughly 10 in a hybrid work model. This role will be responsible for overseeing and supervising daily settlements processes for the Capital Markets Derivatives trading business, as well as providing support for the Derivative business conducted by group companies in New York, London, and Hong Kong. This role will closely partner with Front Office, Back Office, and Technology to deliver on the business objectives. The Derivative Operations Group supports the post trade lifecycle operation for Capital Markets and is comprised of 4 key functions: Sales Middle Office, Confirmations, Settlements, and Collateral & Margin. The Settlements team actively manages pre- and post-settlement processes and daily financial risks. In addition to daily settlement support, the function is focused on remaining current with industry standards and regulations. The team continues to evolve in its risk-mitigation framework, technology agenda, and metrics enhancement. This position will primarily be located in our White Plains, NY, office.

Requirements

Strong supervisory/managerial experience
Excellent verbal and written communication skills with ability to articulate concepts and ideas to diverse audiences
Ability to be assertive with strong influencing skills
Strong organizational skills
Effective time management and ability to manage priorities and resources
Ability to work under pressure and deliver results within tight deadlines/timelines
Derivative lifecycle subject matter expert
Ability to identify and assess a problem situation, determine the root cause and propose recommendations and/or solutions to resolve the issue
Forward thinker who seeks to improve business processes that deliver optimized outcomes in a risk-controlled manner
Use of independent judgement and decision making to handle team issues within assigned authority
Track record of delivering process efficiency gains
15+ years of experience in Financial Services with strong understanding
5+ years of management experience
Bachelor’s Degree or equivalent
Knowledge of SWIFT, settlement instructions and settlement best practices
Working knowledge of Excel
Technology literate
Strong interpersonal skills
Strong communication skills (written and verbal)
Ability to work in a matrix environment
Ability to multitask and deliver high quality results in a fast-paced environment

Nice To Haves

Project management experience and/or related qualification is useful

Responsibilities

Supervise and ensure timely and accurate execution of day-to-day derivative settlement activities
People management promoting a culture of credibility and accountability
Maintain and ensure compliance with robust policies and procedures
Understand and ensure compliance with relevant regulatory requirements
Identification and escalation of open risk
Work with relevant stakeholders (including but not limited to Front Office, Technology, Compliance, Risk) to deliver against targeted business strategies and initiatives
Identify opportunities for business process improvements and implement changes to enhance efficiency, scale and accuracy.
Identify and execute opportunities for change to optimize outcomes, including system enhancements, industry initiatives and new products
Lead team through internal and external reviews
Perform ad-hoc requests and other duties as assigned
Build out functional KRIs