AVP,Trading Operations Manager
OneWest Bank - Pasadena, CA

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OneWest Bank was founded as a regional bank, dedicated to customer service and a commitment to the community. We’re Southern California’s hometown bank, with a strong capital foundation, conservative management and a consistent focus on providing personalized relationship-based banking to all our clients.

OneWest has 74 retail branches conveniently located throughout Southern California to serve consumers and businesses, small and large. With total assets of over $25 billion and $14 billion in deposits, OneWest has the size and strength to offer a wide array of banking products and services including personal and business banking solutions, jumbo mortgages, investment advisory products, small business and commercial banking loans. IndyMac Mortgage Services, a division of OneWest Bank, services mortgage loans on behalf of third parties and offers loan modifications pursuant to Home Affordable Modification Program (“HAMP”) guidelines.

We offer exciting and challenging employment opportunities for professionals in a fast-paced, results-focused environment. In addition to Southern California locations, OneWest has operation centers in Austin, TX and Kalamazoo, MI.

EOE/M/F/D/V

Responsibilities:

The Trading Operations Unit is responsible for middle office and post execution support for the bank’s interest rate derivatives, fixed income securities and foreign exchange activities, including ALM and investment-related activities and transactions with wholesale clients.

The primary role of this unit is to ensure that transactions are processed, settled, monitored and reported according to the bank’s policies, procedures and operational control standards while providing efficient and timely service to internal and external clients. The Manager develops and maintains a culture of continuous process improvement, partnering with business lines, clients, regulators, and third party vendors to enhance the client experience, streamline product delivery and strengthen operational controls. Duties will include but not be limited to the following:
  • Verifies incoming and outgoing confirmations and settlement instructions against trade ticket details for derivatives, securities and FX transactions with dealer and client counterparties.
  • Executes confirmations by phone, email, fax, physical mail or electronic affirmation platforms such as Bloomberg and Markitwire, depending on the product and type of counterparty.
  • Enters and maintains client profile information in the bank’s valuation and booking systems.
  • Enters and maintains transaction details in the bank’s valuation and booking systems.
  • Reviews and maintains client counterparty documentation, including ISDA master agreements, confirmations, schedules, and related documents. Ensures all documentation required as a condition of credit approval is in place before clients are set up in the bank’s systems and transactions are executed.
  • Verifies and monitors compliance with approved counterparty exposure limits, trading limits and other limits as set by the board and executive management. Prepares and distributes limit monitoring and exception reports. Escalates limit breaches and documentation exceptions to appropriate management levels.
  • Reports the economic terms of transactions to swap data repositories as required by the Dodd Frank Act and CFTC regulations.
  • Reconciles market values with dealer and central clearing counterparties and performs related margin and collateral call activities.
  • Monitors and reconciles Nostro account balances and projections.
  • Provides monthly valuation statements to clients and performs other post execution client support activities as needed.
  • Investigates and resolves settlement errors, delays and issues and escalates to appropriate levels of management.
  • Provides subject matter expertise for drafting of trading operations policies and procedures.
  • Develops staff members (currently 1 Analyst) through appropriate training, mentoring and performance management.

Qualifications:

Bachelor's degree from a four-year college or university (preferably with a Business, Economics, Finance or Statistics concentration).
  • Solid understanding of interest rate and FX markets
  • 8+ years of operations or middle office experience
  • 3-5 years of experience managing technical or analytical staff
  • Knowledge of the confirmation and settlement process for rates and FX transactions
  • Ability to review and understand ISDA master, confirmation and credit support agreements and other industry standard trade documentation
  • Familiarity with Bloomberg, MarkitWire, SWIFT or other trading, confirmation and messaging systems preferred
  • Excellent communication skills with a demonstrated track record of effective client service
  • Strong analytical and organizational skills
  • Highly proficient with Microsoft applications
  • Ability to execute against aggressive deadlines and multi-task on numerous deliverables
  • Ability to deal with ambiguity, adapt to change and creatively problem solve to achieve results

OneWest Bank - 21 months ago - save job
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