Hedge Closer
About The Position
The SouthState story is one of steady growth, deep community roots, and an unwavering commitment to helping our customers move forward. Since our beginnings in the 1930s to becoming a trusted financial partner across the South and beyond - we are known for combining personal relationships with forward-thinking solutions. We are committed to helping our team members find their success while maintaining the integrity of our values: building trust, fostering lasting relationships and pursuing excellence. At SouthState, individual contributions are recognized, potential is cultivated and team members are inspired to achieve their greater purpose. Your future begins here! SUMMARY/OBJECTIVES It is the responsibility of the Hedge Closer to take ownership of all tasks and challenges that they encounter in the operation of their assigned position. The Hedge Closer position supports the Correspondent Division ARC team and the Commercial Loan Officers by providing analytical, marketing, and documentation support related to interest rate hedging activity.
Requirements
- Understand derivative products and financial pricing concepts
- Deep knowledge of derivative modeling in Bloomberg
- Understanding of commercial credit and underwriting criteria
- Ability to model and explain interest rate derivatives pricing concepts to sales team
- Knowledge of CRE lending
- Proficient with Microsoft Office Word, Excel, Outlook, Bloomberg, and other software that might be utilized in the department
- Ability to use the computer efficiently and the capacity to learn new software programs as they are rolled out by the Bank
- Well-organized, accurate, and attentive to detail
- Cooperative and willing to assist coworkers and customers on a regular basis
- Excellent multi-tasking skills and be able to function well under pressure
- Composed under pressure and respond to customer and coworker concerns regularly
- Excellent attention to detail and must be able to follow instructions
- Bachelor’s degree in business, finance or accounting is recommended in order to have a good understanding of financial statements and to make industry evaluations
- Finance/Accounting related work experience of at least five years in lieu of a college degree in business, finance or accounting
Responsibilities
- Supports sales team by providing borrower presentations, review and submission of credit memos for hedge approval
- Review customer credit analysis and borrower hedging requests
- Communicate with Commercial Lenders and borrowers
- Review legal closing documents and draft Rate Conversion Agreements
- Schedule closings and communicate with internal and external stakeholders
- Interact closely with the ARC trading desk to ensure trades are executed correctly
- Ensures that all work prepared is timely and turned around within department guidelines and with the utmost accuracy
- Researches and analyzes financial data, interprets and prepares reports of financial position and prices basic interest rate derivatives (swaps, caps, floors, and collars)
- May at times communicate directly with customers, CPAs, and internal company comptrollers regarding financial statements, accounting methods, derivative pricing, and related information
- Undertakes special projects related to job function
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
