Head of OTC Swap Dealer Operations - VN2104

Marex•Chicago, IL

41d•$125,000 - $150,000

About The Position

Marex is seeking a Head of OTC Swap Dealer Operations who will be responsible for the end-to-end operational oversight of the firm’s OTC derivatives, Commodity and Swap Dealer activities. This role ensures the accurate, timely, and compliant processing of OTC swaps across their full lifecycle, including trade capture, confirmation, collateral management, settlement, clearing, regulatory reporting, and reconciliation. The role is critical in maintaining regulatory compliance, operational resilience, and strong control frameworks across global swap dealer operations. Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights, and analytics. The Operations Department is first and foremost a control function. As such the Operations team must ensure controls are followed and always evaluated for improvement. The Operations team will be expected to work on both the daily priorities as well as putting in place the framework for any new products or initiatives.

Requirements

Bachelors’ degree with concentration in Finance, Economics, or related field is required.
At least 10 (ten) years’ experience in a relevant Financial Institution working within operational functions, with management experience preferred.
Extensive experience of front to back trade processing, strong preference for OTC derivatives, especially for asset classes: commodity, FX, interest rate, and cryptocurrency.
In depth knowledge of Global Markets and the applicable the Regulatory Reporting requirements.
Project management and execution, with strong preference for past experience in firm integrations and implementing change around systems and processes.
Excellent verbal and written communication skills.
Experience working in a regulated environment and knowledge of the risk and compliance requirements associated with this.

Responsibilities

Operational Oversight
Lead and oversee all OTC swap operational functions, including:
Trade capture and lifecycle management.
Trade confirmation and affirmation.
Clearing and settlement (cleared and uncleared swaps.
Collateral and margin operations (IM/VM).
Valuation, reconciliation, and dispute resolution.
Ensure operational readiness across asset classes (rates, FX, Crypto, commodities as applicable).
Regulatory & Compliance
Ensure compliance with global swap dealer regulatory regimes (e.g., CFTC, NFA, EMIR, FCA, ASIC).
Oversee regulatory reporting (e.g., SDR, trade repositories) and ensure accuracy, timeliness, and completeness.
Maintain and enhance operational policies, procedures, and controls in line with regulatory expectations.
Risk & Controls
Establish and maintain a robust operational risk framework, including:
Key risk indicators (KRIs) and metrics.
Incident management and root cause analysis.
Control testing and remediation.
Own operational resilience and business continuity planning for OTC operations.
Technology & Change Management
Drive automation, system enhancements, and process optimization initiatives.
Act as a key stakeholder in vendor management and platform selection (e.g., trade capture, confirmation, collateral systems).
Lead operational readiness for new products, regulatory changes, and strategic initiatives.
Leadership & People Management
Build, develop, and lead a high-performing operations team.
Set clear performance objectives, foster a strong risk, and control culture, and promote continuous improvement.
Manage third-party providers and outsourced service relationships where applicable.
Stakeholder Management
Act as the primary operational contact for Front Office, Risk, Finance, Compliance, and Technology.
Represent Operations in internal governance forums and external industry working groups.
Engage with counterparties, CCPs, custodians, and service providers to resolve operational issues.
Sarbanes Oxley (SOX)
Responsible to maintain the internal control assigned to you in compliance with Sarbanes Oxley.
Day-to-day implementation, monitoring, and verification of internal controls designed to mitigate financial reporting risks and ensure SOX compliance.
Implement and Maintain Controls: This involves ensuring that internal controls are designed, documented, and implemented effectively to address identified financial reporting risks.
Monitor and Test Controls: Regularly assess the effectiveness of controls through testing and monitoring to ensure they are operating as designed and remain effective over time.
Assist with internal quarterly reporting as applicable.
Ensure appropriate systems and controls are in place for reporting and compliance under SOX
General Responsibilities
All employees are expected to understand and comply with any Sarbanes Oxley operational requirements relevant to their role.
Ensuring compliance with the company’s regulatory requirements under the SEC, FINRA, NFA, CFTC and other applicable exchanges.
Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values.
At all times complying with Marex’s Code of Conduct:
To ensure that you are fully aware of and adhere to internal policies that relate to you, your role, or any other activities for which you have any level of responsibility.
To report any breaches of policy to Compliance and/ or your supervisor as required.
To escalate risk events immediately.
To provide input to risk management processes, as required.
The Company may require you to carry out other duties from time to time.