Settlements

Sumitomo Mitsui Banking Corporation•White Plains, NY

39d•Hybrid

About The Position

The VP of Capital Markets Settlements will be a senior member of the Derivative Operations team, supervising the team supporting the daily settlements processes for the Capital Markets derivative 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 IT to deliver on the business objectives. The Derivative Operations Group handles operations for Capital Markets and is comprised of 5 key functions: Sales Middle Office, Confirmations, Settlements, Margin and Client Service Operations. Settlements actively manages pre- and post-settlement processes and daily financial risks. In addition to the settlement process, the function is focused on remaining current with industry standards and regulations. The team continues to evolve in its risk-mitigation framework and technology agenda. This position will primarily be located in our White Plains, NY, office.

Requirements

10+ years of experience in financial services.
3+ years of experience working in Settlement capacity.
Strong people management skills.
Understanding of derivatives and FX .
Working knowledge of SWIFT.
BA/BS required.
Effective time management skills and ability to manage priorities and resources.
Forward thinker who seeks to improve business processes that deliver better services.

Nice To Haves

Degree in Finance, Accounting or related discipline is preferred.

Responsibilities

Lead a high-performing team of Settlements professionals ensuring timely and accurate settlement of Derivative and FX cashflows.
Pre-settlement payment affirmation and post-settlement investigations inclusive of compensation claims processing.
Risk mitigation discipline
Identification and escalation of settlement breaks as needed.
Understand and ensure compliance with relevant regulatory requirements.
Proficiency using various industry-standard settlement platforms as well as the firm's proprietary systems.
Identify opportunities for business process improvements and implement changes to enhance efficiency, scale, and accuracy.
Actively contribute and test projects related to system enhancements and new industry initiatives and products.
Maintain accurate documentation for all group-owned controls and processes.
Ensure compliance with internal policies and procedures.
Act as a liaison for senior management on settlement-related issues.
Produce management KRIs.
Promote a culture of credibility and accountability.