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SMBC Capital Markets is an interest rates derivatives trading company based in New York City, with offices in London and Hong Kong. We are a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC), one of the leading global banks in Japan.

Our Capital Markets (CM) business is an established derivatives dealer with a broad product portfolio, with specific emphasis on interest rates and foreign exchange. We have been in operation for more than 30 years and we are a leading market-maker in several markets.

The Margin team is a group within Derivative Operations which handles operations through daily counterparty interactions for SMBC CM Inc. and SMBC Nikko CM Ltd. serving in functions that include daily collateral management and portfolio reconciliation for OTC bilateral, centrally cleared, and exchange traded derivatives. The team is relied upon for reconciliations of swap settlements for centrally cleared trades, portfolio reconciliation and other regulatory requirements related to Margin. They are considered first line of defense for dispute resolution processes on a portfolio level and trade level.

We are looking to hire a Director to head the Margin team within Derivative Operations based out of our White Plains, NY or Jersey City, NJ offices.

Role Description

SMBC Capital Markets is an interest rates derivatives trading company based in New York City, with offices in London and Hong Kong. We are a subsidiary of Sumitomo Mitsui Banking Corporation (SMBC), one of the leading global banks in Japan.

Our Capital Markets (CM) business is an established derivatives dealer with a broad product portfolio, with specific emphasis on interest rates and foreign exchange. We have been in operation for more than 30 years and we are a leading market-maker in several markets.

The Margin team is a group within Derivative Operations which handles operations through daily counterparty interactions for SMBC CM Inc. and SMBC Nikko CM Ltd. serving in functions that include daily collateral management and portfolio reconciliation for OTC bilateral, centrally cleared, and exchange traded derivatives. The team is relied upon for reconciliations of swap settlements for centrally cleared trades, portfolio reconciliation and other regulatory requirements related to Margin. They are considered first line of defense for dispute resolution processes on a portfolio level and trade level.

We are looking to hire a Director to head the Margin team within Derivative Operations based out of our White Plains, NY or Jersey City, NJ offices.

Role Objectives

•Manage a team of 11 within a hybrid segmentation model based out of White Plains and Jersey City. Drive a culture of transparency, accountability, and process consistency within the team.

•Ensure teams are properly educated with respect to industry and regulatory requirements and initiatives.

•Mitigate operational risk by leveraging established processes, key risk indicators and timely escalation of issues.

•Oversight of daily, weekly, monthly processes:

• Issuance and booking of daily margin calls for bilateral and cleared derivatives.

• Dispute resolution management

• Cleared & Non-Cleared reconciliations for derivatives trading portfolio according to the Dodd-Frank & EMIR Regulatory Requirements of Portfolio Reconciliation. Exception management across MTM, Material & Economic Terms, and SIMM reconciliations.

• Monitor and handle Valuation Statement requests related to: Dodd-Frank daily MTM disclosures, MTM Letter Requests, and Audits, etc. related to portfolio/trade valuations.

•Cross functional collaboration with key stakeholders across Operations, Technology, Legal, Treasury, Accounting, Audit, Sales and Trading teams.

•Partner with the business to ensure an environment of tight controls, regulatory compliance and continuous product and process education.

•Manage external relationships including clients, CCP’s, clearing brokers, custodians, etc.

•Assist in ad-hoc requests related to management and investigations of operational issues.

•Lead role in projects & planning related to industry initiatives and operational efficiencies.

•Track and monitor changes in derivative regulations and policies as pertains to collateral management and develop strategic solutions for the firm.

•Maintain and update policy and procedures as required.

Qualifications and Skills

• Bachelor's Degree, ideally in Mathematics, Finance, Economics, Business, or related area.

• 15+ years of relevant experience in Banking & Financial Services, preferably in Collateral and Margin Management, Derivatives and/or other operations role(s).

• Strong people management skills

• Exceptional verbal and written communication skills.

• Effective time management skills and ability to manage priorities and resources.

• Strong problem-solving skills to deal with complexity and respond quickly to uncertainty.

• Forward thinker who seeks to improve business processes that deliver better services.

• High level customer service mindset with a commitment to supporting key stakeholders.

• Working knowledge of collateral management, margin call processing, settlement processes.

• Understanding of derivative trade structure and front-to-back trade flow management, specifically how it impacts daily valuations.

• Experience with platforms such as TriResolve, Acadia Margin Manager, IM Exposure Manager, SWIFT.

• Knowledge of UMR and Dodd Frank regulatory requirements as pertains to initial margin, variation margin, and portfolio reconciliation.

Preferred

• Understands collateral optimization, inventory management, funding, and liquidity management.

• Experience in using and navigating project management tools such as JIRA, Confluence.

Additional Requirements

D&I Commitment

Responsible for fostering a culture of diversity and inclusion, holding leaders accountable for creating an inclusive environment through awareness and practice of equity in recruiting, developing, and promoting diverse talent.

SMBC’s employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.