OTC Derivative Settlements Assistant Vice President

We are seeking a dynamic and experienced Assistant Vice President (“AVP”) to join our OTC Derivatives Settlements team. The AVP is responsible for overseeing the settlement lifecycle for a wide range of OTC derivative products, including interest rate, credit, FX, and equity derivatives. This critical role involves ensuring the accuracy and timeliness of settlements, managing complex operational challenges, mitigating risk, and driving process improvements. As a subject matter expert, the candidate will provide leadership within the team and collaborate closely with Front Office, Middle Office, Risk, Technology, and external counterparties.

Responsibilities:

• Lead the daily settlement processing for various OTC derivative products, including Fixed Income and Equity Derivatives.
• Ensure timely and accurate handling of cash flows, such as coupon payments, premiums, and lifecycle settlements events.
• Proactively monitor, investigate, and resolve settlement nostro breaks, fails, and discrepancies with counterparties and custodians.
• Uphold a strong risk and control framework by ensuring adherence to internal policies and external regulations (e.g., EMIR, Dodd-Frank).
• Continuously assess and mitigate operational risks associated with the settlement process, demonstrating ethical judgment and escalating control issues with transparency.
• Manage daily cash and position reconciliations, driving root cause analysis for any exceptions.
• Identify and implement solutions to streamline settlement processes, enhance automation, and increase operational efficiency and Straight Through Processing.
• Act as a subject matter expert for strategic initiatives, including new product onboarding, system enhancements, and regulatory changes.
• Partner with Technology and Change Management teams to drive innovation within the settlements landscape.
• Serve as OTC Settlements key point of contact, build strong relationships to facilitate smooth operations.
• Provide expert guidance, mentorship, and training to junior team members, fostering a culture of high performance and continuous development.
• Actively participate in development and the streamlining of OTC Derivative processing activities to enhance efficiency, reduce risk, and ensure scalability.
• Leverage Artificial Intelligence and machine learning tools to enhance exception handling, predictive analytics, and process automation

Qualifications & Experience:

• 5+ years of relevant experience in financial services, with a strong focus on OTC derivatives operations, settlements, or a related middle office role.
• Deep understanding of OTC derivative products, their lifecycle events, and settlement mechanics.
• Proficiency with trade processing platforms and market infrastructures (e.g., DTCC, MarkitWire, TriOptima).