Senior Middle Office Risk Analyst - Global Markets Group

Western Alliance Bank•San Jose, CA

1d•Onsite

About The Position

As a Senior Middle Office Risk Analyst, you'll help expand the Global Markets Group’s Middle Office responsibilities for all products, Foreign Exchange (FX), Trade Finance/Letters of Credit (LCs) and Interest Rate Derivatives (Rates). The Global Markets Group (GMG) Middle Office and Business Risk Team is mandated to ensure conformance with all core requirements across all derivative types, both FX and Rates, as well as LCs, to include regulatory and control considerations for Western Alliance Bank’s clients to be initially and continually eligible for our products, while maintaining and reviewing the governing documentation and reporting required at deal level. The position supports transaction validation, controls, reconciliation, reporting and business risk oversight across all 3 products of the GMG and partners very closely with both the Front Office (Sales and Trading) and the Back Office (Operations) to facilitate exception resolution, transactional accuracy and overall control framework. Reporting and maintenance of monthly/regular statistics and revenue for all of Global Markets but specifically to expand the support and assistance of the Interest Rate Derivative (IRD) and Trade Finance (L/Cs). These expanded responsibilities will include: Working with the Treasury’s Funding Desk and IRD team, assist in completing and independently audit files and folders for new IRD transactions, investigate and resolve settlement discrepancies including Cap premium payments to dealer/from client to ensure proper, final settlements, Termination settlements (similar to cap premium payments), Manual (dealer) wires for interest settlements, ACH payment research and resolution, review and send client valuation statements, reconcile dealer confirms and coordinate signatures. Working with the Trade Finance team, Quality Control on Trade and L/C fees/transactions, Audit confirmations from external audit firms, Prepare and send Monthly Trade Finance Customer report to AML team. Provide support to FX Back Office when necessary. Directly assist the GMG’s Director of Business Risk and Middle Office as well as the Director of Platforms and Strategy when required to gather information or liaise with external teams for new/modified or general risk and control initiatives. More specific responsibilities to include: system administration of our systems of record and other supporting applications including our bank partners’ portals and Swift gateway, maintain and assist with all CRM Middle Office cases, assist with testing all application upgrades and hotfixes. swift RMA maintenance, assist in staging, set-up, or amending bulk files/requests of FX trades and/or settlement instructions. Oversee currency and currency pairs, client spread/pricing/margins administration/setup in the FX application. Evaluate Correspondent bank data, including possible netting. Setup maintain and reconcile Clients’ Multi-Currency Account/Vostro (MCA) in the FX system of record. External Audit confirmations from clients and counterparties. Maintain and assist with Weekly, Monthly and Quarterly reporting: Nostro Investigation Log, Client Credit and Mark-to-market reports, Vendor Invoice processing and research, Regulatory reporting, Key Risk Indicators (KRIs) and general Risk updates for all GMG products, Critical Spreadsheet maintenance, as well as any ad hoc audit reporting and mitigation, Support regulatory trade reporting

Requirements

2+ years of related experience in Treasury, Middle Office or similar field.
Bachelor's degree in related field required.
Entry level to intermediate knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
Entry level to intermediate knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
Advanced speaking and writing communication skills.

Nice To Haves

Intermediate to advanced familiarity with artificial intelligence tools and related concepts (NLP, ML, LLM, Agentic AI, generative AI, NN) preferred.
Applied experience with AI adoption and AI-driven transformation in a markets/finance/investments/banking setting.
Advanced spreadsheet experience (Excel/Sheets/Smartsheet/etc.) including macros and advanced formulas preferred.
Business intelligence and CRM familiarity: PowerBI/Tableau and Dynamics/Salesforce/Hubspot/etc preferred.
Database management experience including SQL proficiency preferred.

Responsibilities

Assist in completing and independently audit files and folders for new IRD transactions.
Investigate and resolve settlement discrepancies including Cap premium payments to dealer/from client to ensure proper, final settlements.
Handle Termination settlements (similar to cap premium payments).
Process Manual (dealer) wires for interest settlements.
Perform ACH payment research and resolution.
Review and send client valuation statements.
Reconcile dealer confirms and coordinate signatures.
Perform Quality Control on Trade and L/C fees/transactions.
Audit confirmations from external audit firms.
Prepare and send Monthly Trade Finance Customer report to AML team.
Provide support to FX Back Office when necessary.
Assist the GMG’s Director of Business Risk and Middle Office as well as the Director of Platforms and Strategy when required to gather information or liaise with external teams for new/modified or general risk and control initiatives.
System administration of systems of record and other supporting applications including bank partners’ portals and Swift gateway.
Maintain and assist with all CRM Middle Office cases.
Assist with testing all application upgrades and hotfixes.
Manage Swift RMA maintenance.
Assist in staging, set-up, or amending bulk files/requests of FX trades and/or settlement instructions.
Oversee currency and currency pairs, client spread/pricing/margins administration/setup in the FX application.
Evaluate Correspondent bank data, including possible netting.
Setup, maintain, and reconcile Clients’ Multi-Currency Account/Vostro (MCA) in the FX system of record.
Handle External Audit confirmations from clients and counterparties.
Maintain and assist with Weekly, Monthly and Quarterly reporting: Nostro Investigation Log, Client Credit and Mark-to-market reports, Vendor Invoice processing and research, Regulatory reporting, Key Risk Indicators (KRIs) and general Risk updates for all GMG products, Critical Spreadsheet maintenance, as well as any ad hoc audit reporting and mitigation.
Support regulatory trade reporting.

Benefits

Competitive salaries
Ownership stake in the company
Medical and dental insurance
Time off
Great 401k matching program
Tuition assistance program
Employee volunteer program
Wellness program
Opportunity to bolster business knowledge
Learning the ins and outs of how successful companies operate and manage their finances
Invaluable hands-on experience to help grow your career