OTC Derivative Settlements Assistant Vice President

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OTC Derivative Settlements Assistant Vice President

senior · Corporate Finance

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Job Overview

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.

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

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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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