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Treasury and Chief Investment Office (CIO) — Treasury Settlements Associate — Newark DE

Req #: 180010093
Location: Newark, DE, US
Job Category: Operations
Job Description:
Treasury and Chief Investment Office — North America — Treasury Settlements Associate — DE
Treasury and Chief Investment Office (TCIO) – Overview
The Treasury/Chief Investment Office (TCIO) is responsible for Firm-wide asset and liability management, including: Aggregating and managing the interest rate risk of the firm’s four main lines of business (LOBs), primarily through a ~$300 billion global investment securities portfolio.
  • Managing the firm’s funding and liabilities through ~$250 billion in long-term debt and other funding sources, and managing nearly $400 billion of short term cash deployment activities.
  • Aggregating and managing the firm’s liquidity risk, including deploying the firm's excess liquidity. Also responsible for compliance with both internal and regulatory liquidity requirements.
  • Aggregating and managing the firm’s structural foreign exchange risk.
  • Risk managing Mortgage Servicing Rights (MSR) on behalf of the Mortgage Bank.
  • Managing the ~$14 billion company-sponsored retirement plan.
Because it sits at the very center of the firm, TCIO directly influences the composition of the Firm’s balance sheet as well the activities of its four main lines of business: Asset Management (AM), Commercial Banking (CB), Corporate & Investment Bank (CIB) and Consumer & Community Banking (CCB).
NA TCIO – Delaware Operations
The TCIO Delaware Operations provides Settlement, Reconciliation, Project Management, Business Resiliency, and other Operational support to the TCIO desks which execute transactions and manage resulting positions:
  • Portfolio Management:  This desk manages the Firm’s investment portfolio, which includes a wide range of fixed income products including corporate bonds, asset- and mortgage-backed securities, municipal bonds, and government securities.  It also includes the MSR Hedging group, who utilize a variety of interest rate derivatives (options and swaps) and fixed income products to manage the complex market risks generated by the Bank's mortgage servicing activities.
  • Funding:  This team manages the implementation of the firm’s funding plan, including multiple forms of long-term debt issuance in all major currencies.  It also manages the firm’s short-term cash across both developed and emerging markets using a variety of products, including foreign exchange swaps, repurchase agreements and money markets.
Treasury Settlements Associate
As a Settlement Associate you will monitor, analyze, and process transactions via numerous proprietary and vendor systems.  You will facilitate the accurate and timely settlement of USD and international currency transactions within various product areas including Commercial Paper, Long Term debt issuance, Preferred Stock, Term and Overnight deposits, and Fed Funds trades. In addition, you will have oversight of key supervisory functions such as reviewing and approving settlement of transactions, providing guidance and training to junior team members, and ensuring all issues are escalated and handled appropriately.
Working within the TCIO Delaware Operations, you will participate in the effort to ensure the business’ dynamic environment is well supported and properly controlled.  Due to the constant evolution of business and regulatory initiatives, your role will necessitate your involvement in daily processes as well as special projects.  You will work closely with global business partners within middle office, financial control, market risk, interest rate risk, liquidity risk, and technology to fully understand business drivers and support requirements.
A qualified candidate will possess a financial mindset, an appreciation for complex system flows and the controls necessary to ensure their accuracy, an aptitude for root/cause analysis, and an overriding eagerness to exhibit leadership and drive.
Key Responsibilities:
  • Assume role as Team Leader and perform supervisory and managerial task as required
  • Identify trade discrepancies as well as mitigate the risks related to the trade life cycle
  • Anticipate and understand issues, and escalate appropriately for timely resolution.
  • Manage complex operational and settlement problems independent of immediate supervision
  • Perform a daily reconciliation of funds movements
  • Interact daily with the middle office, counterparties, traders, corresponding banks, immediate supervisors, and the finance desk
  • Required to master the complexities of many overnight and term products as well as gain a solid understanding of the business model and infrastructure
  • Create and maintain daily and monthly activity reports
  • Communicate frequently with domestic and international custodians and counterparties
  • Ability to support project work and participate in UAT (user acceptance testing)  on enhancements and changes to TCIO systems; including analyzing the impact of enhancements on TCIO activity
  • Follow and assist with the maintenance of standard operational procedures
  • Ensure work is completed to the highest standards and seek opportunities to identify areas for process improvements and added controls
  • Ability to work a rotating shift required. Shifts will include, but not limited to 7:30am – 4:30pm; 9:00am – 6:00pm; 10:00am – 7:00pm. 
  • Money Market Settlements experience required
  • BA or BS degree preferably in Finance / Business
  • 3 to 5 years of relevant experience; including direct or indirect supervision of staff
  • Must be controlled and detail orientated
  • Must be able to analyze complex and ambiguous issues and recommend creative solutions 
  • Ability to work in a fast-paced deadline driven environment
  • Ability to multi-task and prioritize workload
  • Advanced analytical skills required
  • Strong written and verbal communication skills required
  • Team player with ability to work with colleagues in a collaborative manner, as well as ability to manage prioritization
  • Flexible; ability to work as needed in order to meet business demands
  • Strong PC skills (Excel, Word, Access, PowerPoint, Internet)
  • Basic accounting knowledge a plus
  • Controls Focused
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