Analyst, Derivatives Settlements

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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 $67,000.00and $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.

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 counter party 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 counter parties to ensure books and records remain accurate.
• Partner closely with Front Office, Middle Office, Treasury, Finance, Technology, Legal, and external counter parties 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…