Derivative & Investment Manager
Responsible for managing the Treasury Capital Markets Operations (TCMO) middle office unit, providing leadership and performance direction and ensuring that the unit meets or exceeds standards for quality, accuracy, customer service, responsiveness and compliance. This position requires strong analytical, operational, system, financial and accounting knowledge to monitor daily operational functions, which further includes the ability to minimize the Bank’s exposure to loss by managing and monitoring performance for compliance with policies, procedures, regulatory requirements and developing risk prevention strategies.
The TCMO Middle Office Derivatives Investment Mgr. will oversee a team of analysts and trade support personnel, who will perform a variety of functions such as trade entry, market valuations, operational risk analytics, profit and loss analysis, and accounting analysis. Also oversees personnel responsible for monitoring department statistics and trends.
TCMO primarily supports Capital Markets, Treasury, Cash Management and the Commercial Banking Group. Key operational functions to be managed are customer safekeeping, custody, Bank portfolio, derivatives, sweep accounts, CD’s, money market activity and Bank debt. This position manages a staff of 6. Responsible for the management, implementation, and recording of all accounting for hedging activities. Reviews and recommends hedging strategies for potential hedge accounting treatment.
Responsibilities include;
1. Continually assesses, monitors, and makes recommendations regarding the performance of the department as well as managing/ensuring a strong relationship with the Treasury Operations Back Office unit, Treasury and Capital Markets' teams. Recommends and implements best practices and up to date industry standards.
2. Monitors the department's compliance with the internal control structure surrounding all operational functions, including reviewing and revising existing policies and procedures on a quarterly basis and the internal controls for ensuring daily checks and balances are managed and reviewed in balance sheet and income statement postings.
3. Monitors the department's adherence to industry rules, laws, regulations and standards including, but not limited to, FAS 91, FASB 115, FAS 157, and FASB 133.
4. Designs, develops, produces and delivers management monitoring reports tracking productivity, trends, risk, exposure and/or other relevant and meaningful information. Communicates with senior management on a daily basis providing insight and recommendations as well as with cross-functional peers.
5. Takes a leadership role in the department's development of an enterprise risk management framework, and monitor its compliance with this framework.
6. Monitors and analyzes scheduled GL posting, DDA posting, daily reconcilement and monthly required certifications. Monitors reasonableness, accuracy and timeliness of posting of accruals and accretion/amortization of all instruments (mortgage backed securities, bonds, debt, money market instruments, and swap products).
7. Oversees workflow schedule to evaluate whether they met in the proper timeframes. Resolves operating problems as needed.
8. Evaluates the department's ability to ensure accurate, timely and efficient delivery of quality service to internal and external customers.
•Bachelor’s Degree in accounting and finance required
•CPA preferred, CTP or CFA a plus
• Banking experience a plus
• Strong knowledge of securities (debt) industry processes, rules, regulations and standards, including settlement
• Must be able to develop and identify risk prevention strategies for operational functions
• Strong knowledge of the general ledger, including accrual management
• Strong knowledge or familiarity of securities processing and accounting systems
• Knowledge of basic derivatives products
• Good understanding of the characteristics and settlement of mortgage and asset backed products
• Project management experience
• Bank and/or system conversion/merger experience
• Experience managing operational analysts
• Experience working with regulatory agencies such as: Federal Reserve Bank (FRB), Securities and Exchange Commission (SEC) , Federal Depository Insurance Company (FDIC) , Securities Industry Association (SIA) , Financial Accounting Standards Board (FASB)
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