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About the Role

Support the daily settlement, payment processing, exception management, and reconciliation of Foreign Exchange transactions, focusing on Spot FX, FX Forwards, FX Swaps, NDFs, NDS, and related cash movements. This role is part of the Derivative Operations team, ensuring trades, settlement instructions, payments, confirmations, and cash breaks are accurately reviewed, processed on time, and handled in line with internal controls, market deadlines, and counterparty requirements.

Responsibilities

Assist with the validation, processing, and settlement of Foreign Exchange transactions, including Spot FX, FX Forwards, FX Swaps, NDFs, NDS, and related FX cash flows.
Support daily settlement activities, including payment preparation, receipt monitoring, netting, CLS-eligible settlement, non-CLS payments, maturities, and value date processing.
Review trade bookings, confirmations, settlement queues, payment queues, and exception reports; investigate discrepancies and escalate items that require additional review.
Perform daily reconciliations of FX activity and related cash movements across internal systems, correspondent banks, custodians, brokers, clearing utilities, and counterparties.
Work with Front Office, Middle Office, Treasury, Finance, Technology, Compliance, and external counterparties to help resolve settlement issues, cash breaks, and payment inquiries.
Maintain accurate transaction records and assist with audit, regulatory, controls testing, and management reporting requests related to FX settlements and payment processing.
Monitor CLS and non-CLS settlement activity, help identify unmatched trades or payment issues, and coordinate with senior team members to resolve items before market and currency cut-off deadlines.
Prepare daily and weekly reporting for management and stakeholders, including status updates on failed settlements, aged breaks, exposures, and delayed payments.
Investigate settlement fails, including fail-to-receive and fail-to-pay items, payment rejections, cash breaks, and claims, and summarize findings for review by senior Operations team members.
Escalate disputed claims, high-risk exposures, unresolved settlement issues, and potential payment delays to senior team members and Operations management in a timely manner.
Participate in process improvement initiatives by identifying recurring issues, documenting manual steps, and helping support control enhancements and workflow efficiencies.

Requirements

0–2 years of experience in Foreign Exchange operations, settlements, trade support, treasury operations, middle office, or a related financial services role; internship or rotational program experience is welcome.
Basic understanding of financial markets and willingness to learn the FX trade lifecycle, including trade capture, confirmations, settlements, payment processing, netting, value dates, maturities, amendments, and cancellations.
Strong attention to detail, accuracy, and follow-through, with the ability to identify discrepancies and escalate issues appropriately.
Ability to work in a deadline-driven environment, manage daily tasks, and prioritize work around market and currency cut-off times.
Analytical mindset with a willingness to ask questions, investigate issues, and learn from senior team members.
Strong written and verbal communication skills, with the ability to provide clear status updates to Operations partners and internal stakeholders.
Proficiency in Excel and comfort learning financial systems, reconciliation tools, payment platforms, and reporting applications.
Curiosity to expand your knowledge across multiple asset classes and build a long-term career in Operations.

Skills

SWIFT
CLS
Bloomberg
FXall
360T
Alert
Misys/Finastra
Murex
Correspondent banking systems
Excel

Location

Work Type

Hybrid

Experience Level

0-2 years

Salary/Compensations

$67,000.00 - $80,000.00

Benefits

Competitive portfolio of benefits
Annual discretionary incentive award

About the Company

SMBC Group is a top-tier global financial group headquartered in Tokyo with a 400-year history.
The Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance.
SMBC Group has over 130 offices and 80,000 employees worldwide in nearly 40 countries.
Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, 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.

Equal Opportunity

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 accommodations@smbcgroup.com.