Analyst, Derivatives Settlements

Job Level: Analyst Job Function: Trade Operations Location: Employment Type: Full Time Requisition ID: 7855 SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges. In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. 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. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees. 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 and FX Operations team, 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 activities, 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. Process new and updated settlement instructions, ensuring required documentation is received, validated against procedures, and retained appropriately for audit purposes. Conduct call backs and other control checks to validate settlement instructions and reduce payment and operational risk. Track outstanding cap documentation, reconcile cap payments on hold, and support timely payment release once documentation and approvals are complete. Produce daily and weekly reporting for management and advisors, including clear explanations for delayed cap payments such as missing documentation, wire forms, or lender consent. Investigate settlement fails, including fail-to-receive and fail-to-pay claims, and provide Front Office partners with comprehensive analysis to support decision-making. Escalate disputed claims and unresolved settlement issues to the Front Office for further review, guidance, and appropriate next steps. Identify opportunities to improve derivative and FX 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, settlement instructions, cash flows, resets, rate fixings, maturities, amendments, and terminations. Familiarity with industry utilities and platforms such as SWIFT, Bloomberg, DTCC, Alert, 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. 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. SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [email protected]. Nearest Major Market: White Plains Nearest Secondary Market: New York City