Royal Bank of Canada

OTC Derivative Settlement Analyst

Royal Bank of Canada • $70K — $95K *
Bedford, NY 10506In-Person
Finance & Insurance
Less than 5 years of experience
Today
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Job Overview by Ladders

Qualifications

  • Minimum 1 year experience in Operations with exposure to Credit and Fixed Rate Derivatives.
  • Proficient in Excel and VBA.
  • Post-Secondary education or equivalent required.
  • Good understanding of structured, credit, and fixed income derivative products.
  • Ability to manage stress effectively in a demanding environment.

Responsibilities

  • Process payments and accounting entries for various derivative products accurately and timely.
  • Confirm and execute Cross Currency trades between CAD and foreign currencies.
  • Utilize IRIS and Murex systems for payment routing and confirmations.
  • Prepare payments using multiple payment devices like SWIFT and debit/credit advice.
  • Independently confirm buyouts and settlements with counterparties.
  • Investigate and resolve daily operational problems and discrepancies.
  • Maintain and update settlement instructions and netting client lists.

Benefits

  • Comprehensive Total Rewards Program including bonuses and flexible benefits.
  • Support for personal development through coaching and career opportunities.
  • Dynamic work environment with collaborative and high-performing teams.
  • Flexible work/life balance options available.
  • Opportunities for challenging work and increased responsibilities.
Full Job Description
Job Description

What is the opportunity?

Provides analysis for implementation and improvement of processes, workflow, project management methods, computer systems and other tools to support insurance policy administration and customer service. Applies complete knowledge, skills, and practices to perform assignments.

What will you do?
  • Process payments and accounting entries for USD/Cross Currency interest rate swaps, interest rate swaps, caps, floors, swaptions, FRAs, bond options and cash tickets in an accurate and timely manner. Resolve any problems that may arise from daily operations. Liaise with clients/ Front Office to ensure that settlements are properly executed.
  • Incumbent is responsible for confirming all upfront and end exchanges for Cross Currency trades which are CAD vs USD or CAD vs foreign currency.
  • Confirm and route payments and receipts using IRIS and Murex settlement queues to verification officer's basket
  • Prepare payments using different payment devices: IRIS/Murex; SWIFT, Debit/Credit advice, etc.
  • Perform independent confirmations with counterparties on any buyouts/upfront/end exchange settlements resulted from existing and new deals booking, such as Cross Currency Swaps (if applicable), options premiums, principal exchanges, and swap upfront fees promptly and accurately prior to making payments & accounting entries.
  • Resolve any problems that may arise from daily operations. Liaise with clients to ensure that settlements are properly executed.
  • Maintain and update list of netting clients for future settlements
  • Daily review of pay/receipt report for 5 days in advance (prior to settlement date), check Murex Reports and receipt wires to Settlement Verification Officer for review, check the same within Murex and process as required. Ensure that nothing remains in Murex and IRIS system except trades with a special exception: waiting for rate reset, structured deals, and trades with outstanding confirmations.
  • Maintain updated settlement instructions in Murex. Upon receipt of advice from counterparty and performing the necessary Call Back as per the standing order, update Murex and ensure that correct settlement instructions are used in making payments. If instructions exist, advise Trade Verification Officer to reassign correct SSIs.
  • Process third party payment authorization requirements (per standing orders) before the release of payments
  • Timely processing of payments for special handling clients. Ensure payments are sent through Murex/IRIS the night before value date; send email to Cash Management advising prompt release is required before 9AM on value date. Also ensure proper formatting on wire, i.e. /PRIORITY/.
  • Investigate and resolve all settlement problems and phone confirmation discrepancies (with counterparties or with the Investigation Department) same day if possible. Advise Associate Director of settlement problems which are not resolved same day.
  • Maintain good understanding of the various mainframe systems such as IRIS, Murex, Ensure compliance with mandated Unit Financial Controls/SOX Controls and RBC Standing Orders Policy requirements.
  • RIMMS, Nostro, SWIFT/FPAY & Infinity and how they interact with the operation of the desk in order to perform the job functions more efficiently and effectively.
  • Update the EUC Change Log for any changes made to the identified EUC spreadsheets (if applicable) in accordance to the EUC Policy guidelines.
  • Look into and work to clear any payment related investigation brought to your attention by the NOSTRO group. Minimize interest claims by providing quick response to payment investigations


What do you need to succeed?

Must have's:
  • Minimum 1 year experience within Operations with exposure to Credit and Fixed Rate Derivatives.
  • Excel/VBA literate
  • Post-Secondary or equivalent


Nice-to-have's:
  • Good working knowledge of Fixed Income Derivatives trades and processing procedures.
  • Ability to manage stress and work accurately in a demanding environment.
  • Good working knowledge of various Systems: Infinity, Workflow, Murex
  • Good working knowledge of various PC applications: Microsoft, Word
  • Good interpersonal/communication skills in dealing with other officers & traders.
  • Ability to grasp new concepts quickly
  • Good knowledge of Structured, Credit and Fixed Income Derivative products market standards and best practice including settlements
  • A sound knowledge of Infinity, Murex, RIMMS. IRIS, Workflow
  • Adhere to RBC's Standing Orders


What's in it for you?

  • A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable.
  • Leaders who support your development through coaching and managing opportunities
  • Ability to make a difference and lasting impact.
  • Work in a dynamic, collaborative, progressive, and high-performing team.
  • Flexible work/life balance options.
  • Opportunities to do challenging work.
  • Opportunities to take on progressively greater accountabilities.
  • Access to a variety of job opportunities across business.


Job Skills
Active Learning, Adaptability, Business Appraisals, Critical Thinking, Customer Service, Decision Making, Effectiveness Measurement, Operational Delivery, Process Improvements

Additional Job Details

Address:

90 WESTERN PKY:BEDFORD

City:

Bedford

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

CAPITAL MARKETS

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-06-24

Application Deadline:

2026-07-08
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

About Royal Bank of Canada

Royal Bank of Canada Careers

Join the dynamic team at Royal Bank of Canada (RBC), a global leader in financial services and a company committed to excellence and innovation. At RBC, we offer a wide range of job opportunities that empower professionals to shape their career paths with leadership, diversity training, and continuous growth.

Work You’ll Do

At Royal Bank of Canada, we are not just hiring; we are building a culture of innovation and leadership. Our team members are at the forefront of the financial industry, driving transformation and delivering targeted solutions that meet the evolving needs of our clients and communities.

Explore Job Opportunities and Employment at RBC

Whether you are starting your career or looking to take it to the next level, RBC offers positions that challenge your skills and fuel your ambition. From entry-level positions to leadership roles, our job opportunities span across various functions and regions. Join us and be part of a team that values professional growth and diversity.

Internship and Professional Development

Kickstart your career with an internship at Royal Bank of Canada. Our internships provide invaluable hands-on experience, networking opportunities, and insights into the financial services industry. Interns at RBC gain the skills necessary to excel and are often considered for full-time positions within the company.

Benefits and Culture

At RBC, we prioritize the well-being and satisfaction of our employees. Our benefits package is designed to support our team members at every stage of their life and career. RBC’s culture is built on a foundation of respect, integrity, and responsibility, fostering an environment where everyone can thrive.

Career Growth and Innovation

We believe in nurturing the potential of our employees through continuous learning and career development programs. At RBC, you will find endless opportunities to grow professionally through on-the-job experiences, formal training programs, and leadership development initiatives. Our commitment to innovation means we are constantly seeking out new ideas and perspectives, making RBC a perfect place for those who aim to lead and innovate.

Diversity and Inclusion

Diversity is our strength. At Royal Bank of Canada, we are committed to building an inclusive workplace where every employee feels valued and respected. Our diversity training programs are designed to educate and inspire, creating a more inclusive and equitable workplace.

Join Our Team

Search open positions that match your skills and interests. We look for passionate, curious, creative, and solution-driven team players. Start your journey with RBC today and be part of a world-class team known for its commitment to client service, community involvement, and innovation.

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Personalize your subscription to receive job alerts, latest news, and insider tips tailored to your preferences. Discover the exciting and rewarding career opportunities awaiting you at RBC. Explore the possibilities with Royal Bank of Canada, where your future is filled with potential and the path to success is paved with countless opportunities for professional and personal growth. Join us and shape not just your career but the future of the financial industry.
Learn more about Royal Bank of Canada
Size
86,007 employees
Market Cap
$130.3 billion
Industry
Finance & Insurance
5 Year Trend
+8.7%
NASDAQ
RY
* Ladders Estimates

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