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About the Role

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. Ensure payments, resets, maturities, rate fixings, and settlement instructions are processed accurately, on time, and in line with internal controls, regulatory expectations, and counterparty requirements.

Responsibilities

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.

Requirements

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.

Skills

OTC Interest Rate Derivatives
SWIFT
Bloomberg
DTCC
Alert
MarkitWire
Excel

Work Type

Hybrid

Salary/Compensations

$67,000.00 - $80,000.00

Benefits

Competitive portfolio of benefits

About the Company

SMBC Group is a top-tier global financial group headquartered in Tokyo with a 400-year history.
Offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance.
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, 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.
Offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients.
Connects a diverse client base to local markets and the organization’s extensive global network.

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.