Job DescriptionBUSINESS OVERVIEWU.S. Bancorp Fixed Income, Currencies & Commodities (FICC) is building out a newly created Financial Risk & Strategy function to provide dedicated front-line risk management, financial resource management, and strategic oversight across the FICC businesses, including Macro (Rates / FX), Structured Credit, Working Capital Finance, Debt Capital Markets, Credit, and Commodities. This build-out coincides with U.S. Bancorp's transition across the Category II regulatory asset threshold and the integration of BTIG LLC's equities and prime brokerage capabilities, creating a highly visible mandate at the intersection of risk, finance, and strategy within Global Capital Markets.
POSITION OVERVIEWThe Chief Operating Officer is an integral member of the FICC Financial Risk & Strategy leadership team. Reporting to the Head of FICC Financial Risk & Strategy, he / she will partner with internal constituents across strategy, infrastructure, technology, compliance and risk management, change management, and cost / expenses. In the process, this role will ensure the FICC business runs efficiently and grows responsibly across sales, trading, structuring, financing, and support functions spanning Macro (Rates / FX), Structured Credit, Working Capital Finance, Debt Capital Markets, Credit, Commodities.
KEY RESPONSIBILITIESStrategic Implementation- Oversee technology, risk infrastructure, and system processes to support growth initiatives across FICC businesses
- Drive accountability for disciplined execution of FICC strategic priorities through KPI tracking, performance analytics, and management reporting
- Serve as primary execution partner to the Head of FICC Financial Risk & Strategy, translating strategic priorities - including the FICC Balance Sheet Council, New Business Initiatives, Financial Scorecards, Investment Planning, junior talent program, and BTIG integration.
Product and Client- Lead FICC new product and initiative approval processes
- Perform client data analysis; create and maintain client onboarding pipeline across FICC lines of business
Resource Management- Drive balance sheet and capital efficiency via effective partnership with Corporate Treasury, Finance, and Accounting Policy
- Manage expenses while ensuring optimal resourcing to foster growth, and in the process achieve cost-efficient and responsible scaling of the FICC business
- Partner with the Financial Resource Management team on funds transfer pricing, balance sheet allocation, and broker-dealer capital initiatives
Risk Management- Continuously improve risk governance and control processes to ensure FICC is in full compliance with regulatory requirements and U.S. Bank company policies
- Act as a key liaison amongst FICC leadership, sales, trading, structuring, technology, operations, and risk functions to identify, escalate, and mitigate risks, including market risk, counterparty risk, operational and technology resiliency, model governance, conduct, and reputational risks
- Support Category II regulatory transition readiness (LCR/NSFR, FRTB, SA-CCR, CVA, CCAR) from an operating and execution lens
- Support BTIG LLC integration workstreams across FICC touchpoints
BASIC QUALIFICATIONS- Practical knowledge of FICC products, including Rates (cash and derivatives, both cleared and bilateral), Credit, Municipals, Securitized Products, FX, Commodities, and Financing, as well as associated execution workflows and market structure evolution
- 15+ years of total experience across FICC businesses, including 3+ years in a COO, business management, strategy, or similar leadership function
- FINRA Series 7 and 63 required, Series 24 or equivalent preferred
- Proven track record of collaboration with support partners including Corporate Treasury, Risk functions, Operations, and Regulatory Compliance
- Experience representing FICC lines of business in internal and external forums
- Ability and experience leading change management and transformational initiatives
PREFERRED SKILLS / EXPERIENCE- Experience with broker-dealer capital and funding frameworks (SEC Rule 15c3-1)
- Familiarity with Category II regulatory transition requirements
- Experience with M&A integration, such as an acquired broker-dealer or prime brokerage platform
- Advanced degree or CFA / MBA
COMPENSATIONBase pay for this role usually falls within $300,000 to $350,000. Additional considerations regarding base pay levels are based on candidate qualifications. Your compensation expectations will be discussed with a U.S. Bank recruiter if you are contacted to discuss the role further
Benefits:Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following:
- Healthcare (medical, dental, vision)
- Basic term and optional term life insurance
- Short-term and long-term disability
- Pregnancy disability and parental leave
- 401(k) and employer-funded retirement plan
- Paid vacation (from two to five weeks depending on salary grade and tenure)
- Up to 11 paid holiday opportunities
- Adoption assistance
- Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
