Analyst, Derivative Ops

Description

• Support the negotiation and maintenance of ISDA Master Agreements, CSAs, clearing documentation, and other trading agreements.
• Develop and maintain procedural documentation, workflows, and internal SLAs.
• Partner with legal, compliance, and risk teams to ensure documentation aligns with regulatory expectations and company risk appetite.
• Coordinate counterparty onboarding, KYC, and ongoing due diligence.
• Evaluate and implement process improvements to increase efficiency and reduce operational risk.
• Ensure accurate and timely entry of trades into order and portfolio management systems.
• Work closely with technology teams to enhance derivatives systems, data quality, reporting, and automation initiatives.
• Lead or support system migrations, vendor evaluations, and integration with trading platforms, clearing brokers, and custodians
• Review and validate independent valuations, sensitivities, and financial statement reporting inputs.
• Effectively communicate with counterparties for timely resolution of disputed trade details and/or cashflow amounts.
• Investigate breaks in market values, cash flows, and collateral balances, ensuring fast resolution and root-cause remediation.
• Lead daily, weekly, and monthly reconciliations across systems (internal books vs. brokers, custodians).
• Liaise actively with front office, finance teams and counterparties to resolve trade discrepancies and enhance straight-through processing.
• Ensure optimization of collateral usage while adhering to CSA terms, regulatory requirements (e.g., Uncleared Margin Rules), and insurer liquidity frameworks.
• Monitor margin disputes, collateral calls, haircuts, and eligibility schedules. Documentation, Onboarding & Counterparty Management
• Manage variation and initial margin processes across bilateral and cleared derivatives.
• Oversee end-to-end middle office processes for all derivative products, including trade confirmation, settlement instruction, resolution of discrepancies, daily margin reconciliation, collateral management, and reporting.
• Maintain a strong control environment, including adherence to SOX, model governance, investment policy, and derivative use policies.
• Ensure compliance with regulatory reporting such as Dodd-Frank, EMIR, and insurance- specific requirements (NAIC, OSFI, Solvency II as applicable).

Requirements

• Experience working with derivatives, including, but not limited, to currency swaps, interest rate swaps, equity options, FX forwards, spot FX, repurchase agreements, and knowledge of collateral settlement methods for the aforementioned instruments.
• Excellent written and verbal skills with ability to effectively present information and respond to questions from multiple internal business areas as well as external counterparties.
• Strong problem-solving skills with ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
• Proficiency with OMS/PMS platforms (e.g., Bloomberg, Aladdin, Numerix, Markit, TriOptima), data tools, and Excel.
• Bachelor’s degree in finance, economics, mathematics, or a related field.
• Strong understanding of ISDA/CSA terms, lifecycle events, margining, and derivatives regulation.
• 5 – 8 years of experience in derivatives middle office, trade support, or related investment operations roles within an insurance company, asset manager, bank, or hedge fund.
• Strong analytical skills.
• Ability to operate in a stressful, deadline driven environment while still maintaining a strict attention to detail and an ability to prioritize issues appropriately.

Benefits

Training + Development

Interview process

Visa Sponsorship

Security clearance