What are the responsibilities and job description for the Head of Derivative Operations position at Sumitomo Mitsui Banking Corporation?
Overview
The head of Derivative Operations will be responsible for managing a team of approximately 50 staff who support the Capital Markets derivative trading business as well as provide support for the derivative business conducted by group companies in New York, London and Hong Kong. The leader of this team will be part of the Markets Operations ExCo and will have a matrix reporting line into the Americas Division Head of Operations.
The head of Derivative Operations will have oversight of the Derivative Middle Office (Sales support), Settlements, Cash Management, Confirmations and Client Service functions that support the SMBC Capital Markets trading business. The role will serve as a primary point of contact for senior Front Office stakeholders and be expected to also serve as a close partner to the Credit, Risk Management, Compliance Technology, and Business Control teams. The new manager will be asked to perform an assessment of current organizational alignment and existing skill sets of the current staff and propose recommendations on areas for improvement where necessary.
Responsibilities
Manage a team of approximately 50 staff members across Middle Office, Settlements, Documentation, Cash Management and Client Service
Partner with the business to ensure an environment of tight controls, regulatory compliance and continuous product and process education.
Lead a diverse team in close oversight of post execution trade processing
Drive a culture of transparency, accountability and process consistency within the team
Serve as the primary point of contact between Front Office and Derivative Operations and represent the team in meetings with regulators and auditors
Mitigate operational risk by leveraging established processes, key risk indicators and timely escalation of issues
Ensure all regulatory reportable and internal Operations targets are met or exceeded
Establish team and individual targets and drive a culture of tight controls
Ensure teams are properly educated with respect to industry and regulatory requirements and initiatives
Manage and meet budget and headcount requirements
Qualifications
10 years of experience in Financial Services
5 years of experience managing within the Derivative Operations speace
BS required
MBA a plus
Degree in Finance, Accounting or related discipline is preferred
FINRA Series 99 is required
Strong people management and organizational skills a must
Excellent verbal and written communication skills with ability to articulate concepts and ideas to diverse audiences
High level customer service mindset with a commitment to supporting key stakeholders
Ability to be assertive with strong influencing skills. Must evidence ability to work with stakeholders at all levels across multiple departments including operations, finance, front office, compliance, technology, legal and credit.
Ability to utilize independent judgement and decision making to handle departmental issues within assigned authority.
This role requires decision making. Must have the ability to independently assess a situation and formulate and articulate an approach.
Forward thinker who seeks to improve business processes that deliver better services.
Project management experience and/or six sigma qualification is useful
