OTC Derivative Settlements Assistant Vice President

Citi; Jersey City (NJ); On-site; USD 98,960 - 148,440; Full time

Benefits offered by this job

Medical, dental, vision coverage

401(k)

Life insurance

Disability insurance

Wellness programs

Paid time off and holidays

Job summary

Citi is seeking an experienced AVP for the OTC Derivatives Settlements team in Jersey City, NJ. You will oversee the settlement lifecycle for a broad range of OTC products, lead daily processing, and drive improvements to reduce risk and increase efficiency.

You will collaborate with Front Office, Middle Office, Risk, Technology, and external counterparties, mentoring juniors and enabling scalable operations. Strong Excel and market infrastructure knowledge are essential.

Qualifications

• 5+ years in financial services with a focus on OTC derivatives operations or related middle-office role.
• Deep understanding of OTC derivative products, lifecycle events, and settlement mechanics.
• Proficiency with trade processing platforms and market infrastructures (DTCC, MarkitWire, TriOptima).
• Strong understanding of payment systems (SWIFT, CLS).
• Advanced Microsoft Excel skills.
• Proven ability to lead resolution of complex operational problems.
• Strong analytical, problem-solving, and risk-awareness skills.
• Excellent verbal and written communication; able to engage stakeholders at all levels.
• Ability to prioritize tasks in a fast-paced, deadline-driven environment.

Responsibilities

• Lead daily settlement processing for various OTC derivative products, including Fixed Income and Equity Derivatives.
• Ensure timely and accurate handling of cash flows, such as coupon payments, premiums, and lifecycle settlements.
• Proactively monitor, investigate, and resolve settlement breaks, fails, and discrepancies with counterparties.
• Uphold a strong risk and control framework per internal policies and external regulations.
• Continuously assess and mitigate operational risks and escalate issues with transparency.
• Manage daily cash and position reconciliations; drive root-cause analysis for exceptions.
• Identify and implement solutions to streamline settlement processes and increase STP.
• Serve as SME for strategic initiatives: new product onboarding, system enhancements, regulatory changes.
• Partner with Technology and Change Management to drive innovation in settlements.
• Provide guidance, mentorship, and training to junior team members.

Skills

OTC derivatives

Settlement operations

Trade processing platforms

Payment systems

Excel

Leadership

Risk awareness

Communication

Education

Bachelor’s degree in finance/Economics/Business

Master’s degree (a plus)

Tools

DTCC

MarkitWire

TriOptima

SWIFT

CLS

Job description

We are seeking a dynamic and experienced Assistant Vice President (AVP) to join our OTC Derivatives Settlements team. The AVP is responsible for overseeing the settlement lifecycle for a wide range of OTC derivative products, including interest rate, credit, FX, and equity derivatives. This critical role involves ensuring the accuracy and timeliness of settlements, managing complex operational challenges, mitigating risk, and driving process improvements. As a subject matter expert, the candidate will provide leadership within the team and collaborate closely with Front Office, Middle Office, Risk, Technology, and external counterparties.

Responsibilities:

• Lead the daily settlement processing for various OTC derivative products, including Fixed Income and Equity Derivatives.
• Ensure timely and accurate handling of cash flows, such as coupon payments, premiums, and lifecycle settlements events.
• Proactively monitor, investigate, and resolve settlement nostro breaks, fails, and discrepancies with counterparties and custodians.
• Uphold a strong risk and control framework by ensuring adherence to internal policies and external regulations (e.g., EMIR, Dodd-Frank).
• Continuously assess and mitigate operational risks associated with the settlement process, demonstrating ethical judgment and escalating control issues with transparency.
• Manage daily cash and position reconciliations, driving root cause analysis for any exceptions.
• Identify and implement solutions to streamline settlement processes, enhance automation, and increase operational efficiency and Straight Through Processing.
• Act as a subject matter expert for strategic initiatives, including new product onboarding, system enhancements, and regulatory changes.
• Partner with Technology and Change Management teams to drive innovation within the settlements landscape.
• Serve as OTC Settlements key point of contact, build strong relationships to facilitate smooth operations.
• Provide expert guidance, mentorship, and training to junior team members, fostering a culture of high performance and continuous development.
• Actively participate in development and the streamlining of OTC Derivative processing activities to enhance efficiency, reduce risk, and ensure scalability.
• Leverage Artificial Intelligence and machine learning tools to enhance exception handling, predictive analytics, and process automation

Qualifications & Experience:

• 5+ years of relevant experience in financial services, with a strong focus on OTC derivatives operations, settlements, or a related middle office role.
• Deep understanding of OTC derivative products, their lifecycle events, and settlement mechanics.
• Proficiency with trade processing platforms and market infrastructures (e.g., DTCC, MarkitWire, TriOptima).
• Strong understanding of payment systems (e.g., SWIFT, CLS).
• Advanced Microsoft Excel skills are highly desirable.
• Proven ability to lead the resolution of complex operational problems.
• Strong analytical, problem-solving, and risk-awareness skills with high attention to detail.
• Excellent verbal and written communication skills, with the ability to engage effectively with stakeholders at all levels.
• Demonstrated ability to prioritize tasks and perform effectively in a fast-paced, deadline-driven environment.

Education:

• Bachelor’s degree in finance, Economics, Business Administration, or a related field is required.
• Master’s degree is a plus.

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Job Family Group: Operations - Transaction Services

Job Family: Securities and Derivatives Processing

Time Type: Full time

Primary Location: Jersey City New Jersey United States

Primary Location Full Time Salary Range: $98,960.00 - $148,440.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.

• medical coverage
• dental & vision coverage
• 401(k)
• life insurance
• accident insurance
• disability insurance
• wellness programs
• paid time off packages: planned time off (vacation)
• paid time off packages: unplanned time off (sick leave)
• paid holidays

for additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

Automated Processing and AI

We use automated processing, including artificial intelligence, for our legitimate business interests (or our reasonable and appropriate business purposes) to identify and align the candidate's skills and abilities with a specific job opening. Additionally, if you so choose, or consent, we can match your skills and abilities to other suitable roles at Citi.Importantly, all our hiring processes and decisions, including determining your suitability for a role, are conducted, checked, and decided by individuals. Our automated processing and AI do not involve relying on automatic or autonomous decision-making. Please refer to any Jurisdictional Considerations, with specific provisions for your country (where relevant) for further details.Illinois residents – AI Notice and Right

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