Head of Derivative Settlements

Role Description

The Head of Derivative Settlements will be a senior member of the Derivative Operations team, supervising a team of 15 in a hybrid work model.  The Head of Derivative Settlements will be responsible for overseeing and supervising daily settlements processes for the Capital Markets Derivative and FX 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 5 key functions: Sales Middle Office, Confirmations, Settlements, Margin and Client Service Operations.  Settlements actively supports pre and post-settlement processes and daily financial risks.  In addition to daily settlements support, 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, however the role will also require a presence in our Manhattan office.

Role Objectives

• Supervise and ensure timely and accurate execution of day-to-day Settlements operational activities
• People management promoting a culture of credibility and accountability
• Maintain 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
• Functional assessment identifying and executing opportunities for change to optimize outcomes
• Lead department through internal and external reviews
• Perform ad-hoc requests and other duties as assigned
• Build out functional KRI’s

Core Competencies

• Strong supervisory/managerial experience
• Excellent verbal and written communication skills with ability to articulate concepts and ideas to diverse audiences
• Strong organizational skills
• Effective time management and ability to manage priorities and resources
• Strong people management and leadership and in an amorphous environment with the ability to self-start. 
• 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
• Ability to be assertive with strong influencing skills
• Demonstrate ability to implement change in a risk-controlled manner
• Ability to utilize independent judgement and decision making to handle departmental issues within assigned authority
• Forward thinker who seeks to improve business processes that deliver optimized outcomes
• Track record of delivering process efficiency gains 
• Project management experience and/or related qualification is useful

Qualifications and Skills

• 15+ years of experience in Financial Services with strong understanding
• 5+ years of management experience
• Bachelor’s Degree or equivalent
• FINRA Series 99 License a plus
• Knowledge of SWIFT, CLS, 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