At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

SUMMARY
U.S. Bank is seeking a Derivatives Products Operations Business Analyst with relevant experience that will contribute toward the success of our operational initiatives in the interest rates and commodities space. This position reports to the Head of Derivatives Operations and will partner with business line, operations, technology, and compliance stakeholders to implement and maintain the operational solutions necessary to support the Swap Dealer rates and commodity business.  The Business Analyst will perform client onboarding, confirmations, settlements, and reporting processes. The Operations Business Analyst will also participate in various ad hoc projects, such as system upgrades and testing. The ideal candidate should help Head of Operations to identify automation opportunities and areas of improvements while performing daily tasks.

RESPONSIBILITIES

- Process onboarding, settlement, confirmation, and configuration tasks as necessary in support of the Derivatives Products Group (DPG) Rates and Commodity trading activity.

- Input and maintain client data.

- Manually update system-generated confirmations.

- Review and archive incoming confirmations.

- Publish reports related to confirmation activity and outstanding confirmations.

- Review and approve settlements activity.

- Resolve settlement issues.

- Publish reports related to settlement activity and outstanding settlements.

- Run and/or review various reports relating to DPG Operation tasks.

- Demonstrate basic understanding of interest rate and commodity derivatives and become familiar with the various product type (swaps, caps/floors/collars and futures) including understanding of price/rate settings and cash payment calculations.

- Become familiar with ISDA Definitions related to confirmations.

- Be familiar with technology to troubleshoot and resolve trade, cash settlement, confirmation and system configuration issues.

- Collaborate with teams across Derivative Trading Front Office, Technology & Operations Services, Compliance, Legal, Market Risk Management, Treasury, and Finance to deliver necessary objectives as required.

- Assist Operation Manager to enhance various processes and reporting.

- Define and document business procedures when necessary.

- Act as Business Line stakeholder responsible for defining and documenting business requirements while simultaneously creating and testing a suite of test cases to ensure product deliverables meet expectations prior to upgrades.

- Assist Operations manager with internal and external audits.

-  Demonstrate operational understanding and compliance with various rules and regulations including Dodd-Frank, Volcker and Sarbanes-Oxley.

- Work closely with other members of the DPG Operations team in a collaborative environment.

REQUIRED

- 4+ years of related experience.
- Bachelor's degree or equivalent work experience.

PREFERRED

- In-depth knowledge and working experience of energy and commodity market, asset classes, various derivative products offered and an inquisitive mind.

- Strong understanding of Calypso or similar trading platform and how to navigate the software to batch files, track trade execution and reporting, execute on-demand reports.

- Proficient ability to write, troubleshoot and implement Excel Macro enabled tools to improve process efficiencies.

- Advanced proficiency with Excel Functions and VBA Knowledge.

- Demonstrated experience in the successful implementation of operational process change and improvement within capital markets operations.

- Self-motivated, highly organized, and able to work independently without direct supervision.

- Ability to maintain current with industry changes including applicable laws, rule amendments, regulatory expectations, and trends, DTCC technical specifications and other industry-wide initiatives that may have a material impact on swap data reporting.

This position offers a hybrid/flexible schedule which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

Healthcare (medical, dental, vision)

Basic term and optional term life insurance

Short-term and long-term disability

Pregnancy disability and parental leave

401(k) and employer-funded retirement plan

Paid vacation (from two to five weeks depending on salary grade and tenure)

Up to 11 paid holiday opportunities

Adoption assistance

Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.  

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $73,695.00 - $86,700.00 - $95,370.00

U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.

Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.

Job postings typically remain open for approximately 20 days of the posting date listed above, however the job posting may be closed earlier should it be determined the position is no longer required due to business need. Job postings in areas with a high volume of applicants, such as customer service, contact center, and Financial Crimes investigations, remain open for approximately 5 days of the posting listed date.