Analyst, Derivatives Settlements

Role Description Summary

Own the end-to-end settlement, lifecycle event processing, and reconciliation of derivative transactions, with a primary focus on OTC Interest Rate Derivatives including swaps, caps, floors, and related cash flows. In this role, you'll sit at the center of the Derivatives Operations function, ensuring payments, resets, maturities, rate fixings, and settlement instructions are processed accurately, on time, and in line with internal controls, regulatory expectations, and counterparty requirements.

What You'll Do

• Validate, process, and settle OTC Interest Rate Derivative transactions, including swaps, caps, floors, and related derivative cash flows.
• Manage daily settlement activity, including payment calculations, cash movements, netting, rate fixings, resets, maturities, and lifecycle event processing.
• Monitor trade confirmations, allocations, settlement queues, and exception reports; investigate discrepancies and drive timely break resolution through to closure.
• Reconcile derivative activity and cash movements across internal systems, custodians, brokers, clearing houses, and counterparties to ensure books and records remain accurate.
• Partner closely with Front Office, Middle Office, Treasury, Finance, Technology, Legal, and external counterparties to resolve failed settlements, reduce recurring breaks, and support smooth trade lifecycle management.
• Maintain accurate transaction records and support audit, regulatory, controls testing, and management reporting requirements related to derivative settlements.
• Identify opportunities to improve derivative settlement workflows, strengthen operational controls, reduce manual intervention, and enhance scalability across systems and processes.

Qualifications And Skills

• Experience in derivatives operations, settlements, trade support, or middle office functions, preferably with OTC Interest Rate Derivatives.
• Strong understanding of the derivative trade lifecycle, including confirmations, settlements, cash flows, resets, rate fixings, maturities, amendments, and terminations.
• Familiarity with industry utilities and platforms such as SWIFT, Bloomberg, DTCC, MarkitWire, and clearing platforms.
• Strong control mindset with the ability to identify settlement risk, escalate issues appropriately, and follow through on exception resolution.
• Detail-oriented and deadline-driven, with the ability to manage high-volume settlement activity and competing priorities in a fast-paced environment.
• Analytical, proactive problem-solver with strong communication skills across Operations, Front Office, Middle Office, Technology, and external counterparties.
• Proficiency in Excel and comfort working across financial systems, reconciliation tools, and reporting platforms.
• Curiosity to expand your knowledge across multiple asset classes.

Pay

The anticipated salary range for this role is between $67,000.00 and $80,000.00. 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.

Schedule

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.