The anticipated salary range for this role is between $132,000.00 and $170,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role DescriptionThe VP of Capital Markets Settlements will be a senior member of the Derivatives & FX Operations team, supervising the team supporting the daily settlements processes for the Capital Markets FX and US Treasuries 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 IT to deliver on the business objectives.
The Derivative Operations Group handles operations for Capital Markets and is comprised of 4 key functions: Sales Middle Office, Confirmations, Settlements, and Margin. Settlements actively manages pre- and post-settlement processes and daily financial risks. In addition to the settlement process, the function is focused on remaining current with industry standards and regulatory requirements. The team continues to evolve in its risk-mitigation framework and technology agenda.
Role Objectives:
- Lead a high-performing team of Settlements professionals ensuring timely and accurate settlement of FX cashflows and US Treasury settlements.
- Provide managerial guidance to and supervisory controls of junior team members.
- Exercise solid, well-reasoned judgment and ability to re-prioritize as risks change.
- Pre-settlement payment affirmation and post-settlement investigations inclusive of compensation claims processing.
- Risk-mitigation discipline.
- Identification and escalation of settlement breaks as needed.
- Understand and ensure compliance with relevant regulatory requirements.
- Proficiency using various industry-standard settlement platforms as well as the firm's proprietary systems.
- Identify opportunities for business process improvements and implement changes to enhance efficiency, scale, and accuracy.
- Actively contribute and test projects related to system enhancements and new industry initiatives and products.
- Maintain accurate documentation for all group-owned controls and processes.
- Ensure compliance with internal policies and procedures.
- Act as a liaison for senior management on settlement-related issues.
- Produce management KRIs.
- Promote a culture of credibility and accountability.
Qualifications and Skills- 10+ years of experience in financial services.
- 3+ years of experience working in Settlements capacity.
- Strong people-management skills.
- Understanding of FX, US Treasuries, and derivatives products.
- Working knowledge of SWIFT.
- BA/BS required.
- Effective time-management skills and ability to manage priorities and resources.
- Forward thinker who seeks to improve business processes that deliver better services.
- Degree in Finance, Accounting or related discipline is preferred.
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. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
