Commodity Derivatives Products Operations Senior Analyst

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

U.S. Bank is seeking a Commodity Derivatives Products Operations Senior Analyst with relevant experience that will contribute toward the success of our operational initiatives in the Derivatives space. This position reports to the Head of Derivatives Operation Back Office and will partner with business line, operations, technology, and compliance stakeholders to implement and maintain the operational solutions necessary to support commodity derivatives business buildup by creating effective procedures and controls for client onboarding, confirmations, settlements, and reporting processes. The Back Office Lead will also participate and/or lead various ad hoc projects, such as system upgrades and testing. The ideal candidate should help Head of Back Office to identify automation opportunities and areas of improvements.

RESPONSIBILITIES

• Contribute to Back Office responsibilities including client onboarding, confirmations, settlements and cash reconciliations etc.

• Demonstrate deep understanding of commodity derivatives markets with in-depth knowledge of various derivative products (Swaps, Caps/Floors/Collars and Futures) including understanding of market price setting and cash payment calculations

• Demonstrate deep understanding of ISDA Definitions related to Confirmations.

• Hand on experience to build various processes and reporting and familiar with technology required to troubleshoot and resolve trade, cash settlement, confirmation and system configuration issues.

• Produce innovative ways to refine processes as a means of improving efficiencies allowing for both Commodity derivatives Front & Back Office to adapt to the growing needs of the business

• Demonstrated ability to Lead multiple special projects and/or activities designed to resolve pain points for Front, Middle or Back Office teams, including Confirmation template development, Settlements, Reporting and application upgrades

• Collaborate with teams across Derivative Trading Front Office, Technology & Operations Services, Compliance, Legal, Market Risk Management, Treasury, and Finance, to ensure transparent and aligned objectives with seamless resolution delivery

• Define and document business requirements and procedures to ensure all business rules are applied consistently across different technology solutions and user interfaces.

• Act as liaison between Commodity derivatives Front Office and Development, tracking and identifying open issues for upcoming Agile Sprint deliveries.

• Act as Business Line stakeholder accountable for validating test requirements in lower environments while simultaneously creating and testing a personal suite of test cases to ensure product deliverables meet expectations prior to go-live.

• Represent Back Office in both internal and external audits demonstrating operational understanding and compliance with various rules and regulations including Dodd-Frank, Volcker and Sarbanes-Oxley

• Successfully on-board and train staff ensuring they can support the daily needs of the business.

• Create and lead training and development programs conducted across various organizations within the bank specific to building the knowledge and understanding of derivatives.

• Process onboarding, settlement, confirmation, and configuration tasks as necessary in support of the Derivatives Products Group Rates and Commodity/Energy trading activity

Basic Qualifications

• Bachelor's degree, or equivalent work experience

• Typically six or more years of related experience

Preferred Skills/Experience

• In-depth knowledge and working experience of Commodity Derivatives market, asset classes, various derivative products offered and an inquisitive mind.

• Advanced proficiency with Excel Functions and VBA Knowledge is a plus.

• Strong understanding of Calypso or similar trading platform and how to navigate the software to batch files, track trade execution and reporting, and execute on-demand reports.

• Proficient ability to write, troubleshoot and implement macro enabled tools to improve process efficiencies.