OTC Derivatives Settlements AVP — Lead & Innovate

Citi; Jersey City (NJ); On-site; USD 99,000 - 148,000; Full time

Benefits offered by this job

Medical, dental & vision

401(k)

Insurance: life, disability

Wellness programs

Paid time off

Job summary

Citi in Jersey City, NJ is seeking an Assistant Vice President to lead the OTC Derivatives Settlements team. The role oversees settlement lifecycle for OTC products, ensures accurate cash flows, and collaborates with Front Office, Risk, Technology, and counterparties to drive efficiency and compliance.

The AVP will manage daily settlements, monitor breaks, and mentor junior staff while advancing automation and AI-enabled analytics to reduce risk and support scalable processing.

Qualifications

• 5+ years of experience in OTC derivatives operations or settlements.
• Deep understanding of OTC derivatives 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 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.

Responsibilities

• Lead daily settlement processing for OTC derivatives, including Fixed Income and Equity Derivatives.
• Ensure timely and accurate cash flows and lifecycle settlements.
• Monitor, investigate, and resolve settlement breaks, fails, and discrepancies with counterparties and custodians.
• Uphold risk and control framework per policies and regulations (e.g., EMIR, Dodd-Frank).
• Continuously assess and mitigate operational risks in the settlement process.
• Manage daily cash and position reconciliations; drive root cause analysis for exceptions.
• Identify and implement solutions to streamline settlements, enhance automation, and increase STP.
• Act as SME for strategic initiatives like new product onboarding and system changes.
• Partner with Technology and Change Management to drive innovation within settlements.
• Serve as OTC Settlements key point of contact with stakeholders.
• Provide mentorship and training to junior team members.
• Participate in development and streamlining of OTC Derivative processing to improve efficiency.
• Leverage AI and ML to enhance exception handling, predictive analytics, and automation.

Skills

OTC derivatives

Settlements

Risk management

Process improvement

Leadership

Excel

Communication

Stakeholder management

Education

Bachelor’s degree in finance

Master’s degree (preferred)

Tools

DTCC

MarkitWire

TriOptima

SWIFT

CLS

Job description

Citi in Jersey City, NJ is seeking an Assistant Vice President to lead the OTC Derivatives Settlements team. The role oversees settlement lifecycle for OTC products, ensures accurate cash flows, and collaborates with Front Office, Risk, Technology, and counterparties to drive efficiency and compliance.

The AVP will manage daily settlements, monitor breaks, and mentor junior staff while advancing automation and AI-enabled analytics to reduce risk and support scalable processing.