Hedge Closer

SouthState Bank; Winter Haven (FL); On-site; USD 50,000 - 80,000; Full time

Job summary

SouthState Bank in Florida seeks a Hedge Closer to own tasks for the hedge operation within the ARC and Commercial Lending teams. You will support lenders with borrower presentations, credit memos, hedge approvals, and timely documentation.

The role requires knowledge of derivative pricing, Bloomberg modeling, and commercial credit criteria. A bachelor's in business, finance, or accounting and at least five years of related experience are preferred.

Qualifications

• Education: Bachelor’s degree in business, finance or accounting recommended.
• Experience: Finance/Accounting related work experience of at least five years in lieu of a college degree.

Responsibilities

• Supports sales team with borrower presentations, review and submission of credit memos for hedge approval.
• Review customer credit analysis and borrower hedging requests.
• Communicate with Commercial Lenders and borrowers.
• Review legal closing documents and draft Rate Conversion Agreements.
• Schedule closings and communicate with internal and external stakeholders.
• Interact closely with the ARC trading desk to ensure trades are executed correctly.
• Ensures that all work prepared is timely and turned around within department guidelines and with the utmost accuracy.
• Researches and analyzes financial data, interprets and prepares reports of financial position and prices basic interest rate derivatives.
• May communicate directly with customers, CPAs, and internal company comptrollers regarding financial statements, accounting methods, derivative pricing.
• Undertakes special projects related to job function.

Skills

Derivative pricing

Bloomberg modeling

Credit underwriting

Education

Bachelor’s degree in business, finance or accounting

Tools

Bloomberg

Microsoft Office

Job description

The SouthState story is one of steady growth, deep community roots, and an unwavering commitment to helping our customers move forward. Since our beginnings in the 1930s to becoming a trusted financial partner across the South and beyond - we are known for combining personal relationships with forward-thinking solutions.

We are committed to helping our team members find their success while maintaining the integrity of our values: building trust, fostering lasting relationships and pursuing excellence. At SouthState, individual contributions are recognized, potential is cultivated and team members are inspired to achieve their greater purpose. Your future begins here!

Summary/Objectives

It is the responsibility of the Hedge Closer to take ownership of all tasks and challenges that they encounter in the operation of their assigned position. The Hedge Closer position supports the Correspondent Division ARC team and the Commercial Loan Officers by providing analytical, marketing, and documentation support related to interest rate hedging activity.

Essential Functions

This position is expected to perform the specific duties, tasks, and responsibilities as outlined below:

• Supports sales team by providing borrower presentations, review and submission of credit memos for hedge approval
• Review customer credit analysis and borrower hedging requests
• Communicate with Commercial Lenders and borrowers
• Review legal closing documents and draft Rate Conversion Agreements
• Schedule closings and communicate with internal and external stakeholders
• Interact closely with the ARC trading desk to ensure trades are executed correctly
• Ensures that all work prepared is timely and turned around within department guidelines and with the utmost accuracy
• Researches and analyzes financial data, interprets and prepares reports of financial position and prices basic interest rate derivatives (swaps, caps, floors, and collars)
• May at times communicate directly with customers, CPAs, and internal company comptrollers regarding financial statements, accounting methods, derivative pricing, and related information
• Undertakes special projects related to job function

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

COMPETENCIES

• Understand derivative products and financial pricing concepts
• Deep knowledge of derivative modeling in Bloomberg
• Understanding of commercial credit and underwriting criteria
• Ability to model and explain interest rate derivatives pricing concepts to sales team
• Knowledge of CRE lending
• Proficient with Microsoft Office Word, Excel, Outlook, Bloomberg, and other software that might be utilized in the department
• Ability to use the computer efficiently and the capacity to learn new software programs as they are rolled out by the Bank
• Well-organized, accurate, and attentive to detail
• Cooperative and willing to assist coworkers and customers on a regular basis
• Excellent multi-tasking skills and be able to function well under pressure
• Composed under pressure and respond to customer and coworker concerns regularly
• Excellent attention to detail and must be able to follow instructions

Qualifications, Education, And Certification Requirements

• Education: Bachelor’s degree in business, finance or accounting is recommended in order to have a good understanding of financial statements and to make industry evaluations
• Experience: Finance/Accounting related work experience of at least five years in lieu of a college degree in business, finance or accounting

Training Requirements/Classes

Required annual compliance training, New Employee Orientation

PHYSICAL DEMANDS

Must be able to effectively access and interpret information on computer screens, documents, reports. This position requires a large amount of time in front of a computer. This can be done sitting or standing with use of the right desk.

WORK ENVIRONMENT

For telecommuters or hybrid: Telecommuting roles no matter if hybrid or 100% full time telecommuting must have a secure home office environment that is free from background noise and distractions. They must also have a reliable private internet connection that is not supplied by use of cellular data (hot spot). Cable or fiber connections are preferred. Requirements are subject to change, as new systems and technology is delivered.

TRAVEL

Travel may be required to come to meetings as needed.

Salary Ranges:

$49,863.00 - $79,653.00

Equal Opportunity Employer, including disabled/veterans.