Capital Markets Middle Office Manager - Derivatives

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At Regions, the Capital Markets Middle Office Manager - Derivatives is responsible for managing the Middle Office functions that are associated with the Bank’s Interest Rate and Commodity Derivatives trading desk within the Capital Markets business.  The Derivatives Middle Office is a part of Capital Markets Operations at Regions Bank.  Primary responsibilities of the Middle Office include valuation control and ensuring the integrity of positions feeding the firm’s balance sheet.  Key deliverables for the Derivatives Middle Office include Risk and Profit and Loss (P/L) reporting, as well as Independent Price Verification (IPV) and Collateral Management. 

Primary Responsibilities

• Mentors and trains a team of analytical Middle Office associates to support a fast-paced trading and client-facing business in Capital Markets
• Owns and accountable for reporting daily P/L and Risk that may have material impact to firm’s financial statements and regulatory compliance, including, but not limited to Dodd-Frank, Basel Requirements, Volcker Rule, and Sarbanes-Oxley.
• Serves as Middle Office first line-of-defense for any escalation for day-to-day issues for Sales and Trading, Collateral Management and Client reporting
• Provides portfolio analyses and reporting to key governance committees including, but not limited, to Valuation Committee, CM Risk Committee, and Credit Risk Committee
• Ensures timeliness and accuracy of daily deliverables, including P/L and Risk reporting
• Serves as subject-matter-expert to identify, analyze, and remediate any valuation issue from end-to-end, ranging from market data, curve construction methodology, pricing system maintenance, and proper trade entry.
• Serves as liaison with Derivatives system vendor, Calypso and internal Technology team. Functions include building fix/enhancement specifications, coordinating delivery, testing and implementing.
• Oversees trade capture and trade confirmation process ensuring large transactions are booked accurately and researches any variations that may impact booking
• Reviews Finance Accounting Standards (FAS) 157 and associated Credit Value Adjustment analysis
• Manages daily margin call process for bilateral and cleared trades
• Supports testing and development of new automation efforts that enhance efficiency of Derivatives Middle Office processes
• Ensures compliance with regulatory initiatives such as the Liquidity Coverage Ratio (LCR) and Swap Data Repository (SDR) reporting
• Responsible for managing bilateral and cleared collateral calls with large dealers and investment banks as per ISDA/CSA protocol and engagement with FCM counterparties
• Key contributor to vendor supported trading applications, i.e., participates in and/or leads enhancements, upgrades, etc.
• Implements new and improves existing processes that drive profitability, risk management, trade review, and collateral management
• Develops successful relationships with key partners including: Front Office, Back Office, Risk Management and Technology

This position is exempt from timekeeping requirements under the Fair Labor Standards act and is not eligible for overtime pay.

This position is incentive eligible.

This is a single incumbent position.

Requirements

• Bachelor’s Degree
• Ten (10) years of experience in the financial services industry, trading floor, brokerage, and/or investment banking
• Expert knowledge of valuation methodology as carried out within derivatives application, Calypso or other platforms

Preferences

• Bachelor’s in Finance or Accounting preferred
• Chartered Financial Analyst (CFA)
• Previous management experience
• Experience working with interest rate and/or commodity derivatives

Skills and Competencies

• Proficient Microsoft Office skills
• Ability to thrive in a fast-paced trading environment
• Proven history of strong analytical skills
• Strong communication skills, ability to effectively communicate with senior management or internal/external regulator

Position Type

Compensation Details

Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.

The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.

Job Range Target:

Minimum:

Median:

Incentive Pay Plans:

Benefits Information

Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.

• Paid Vacation/Sick Time

• 401K with Company Match

• Medical, Dental and Vision Benefits

• Disability Benefits

• Health Savings Account

• Flexible Spending Account

• Life Insurance

• Parental Leave

• Employee Assistance Program

• Associate Volunteer Program

Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.

https://www.regions.com/about-regions/welcome-portal/benefits

Equal Opportunity Employer/including Disabled/Veterans

Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.