Associate Director, Derivatives Middle Office

4 weeks ago

New York, New York, United States Clear Street Full time

About Clear Street:

Clear Street is a pioneering force in modernizing capital markets infrastructure. Founded in 2018 by seasoned Wall Street and Silicon Valley veterans, the company is an independent, non-bank prime broker dedicated to addressing the industry's most pressing issue: legacy technology.

We have developed a proprietary, cloud-native clearing and custody system from the ground up to replace outdated infrastructure used across capital markets.

Our platform is fully integrated with central clearing houses and exchanges to support billions in trading volume per day. We've carefully designed our data model abstractions, ensured horizontal scalability, and crafted thoughtful APIs. All to provide a best-in-class experience for our clients.

By combining highly-skilled product and engineering talent with seasoned finance professionals, we're building the essential tools to compete in today's fast-paced markets.

The Role:

We are seeking a Middle Office Associate Director to join our Clear Street Derivatives team. Clear Street operates both a FINRA registered Broker/Dealer and a SEC regulated Securities Based Swap Dealer. This role will focus on supporting colleagues and our counterparties in the middle office function across both entities.

You will be part of the Derivatives Middle Office team and work in partnership with the Derivatives Product and engineering teams to define an end-to-end operation environment for Derivatives.

You will perform daily Middle Office responsibilities, including:

  • Interacting directly with clients
  • Performing reconciliations and investigating breaks/discrepancies
  • Preparing trade confirmations and regulatory reporting
  • Booking trades, cash flows, and corporate actions
  • Managing cashflows (processing and/or settlement of PnL, collateral, interest, etc.)
  • Processing expiries and lifecycle events

Responsibilities:

You will build and maintain client relationships, serving as a liaison between clients and prime brokers/counterparties. You will participate in various audits and regulator reviews. You will learn new applications and help test integrations. You will work closely with the Trading Desk, Sales, Compliance, Legal, and Finance teams. You will contribute to process improvement and the general operation of the team, swap dealer, and group.

Requirements:

At least five (5) years of professional experience working within a Middle Office Derivatives role covering trade settlements, fail control, reconciliations of trade discrepancies, and client servicing; previous experience working for a Securities Based Swap Dealer is highly preferred.

Prior experience with various products including equities, fixed income, repurchase agreements, futures, FX, options, and working knowledge of Corporate Actions.

Experience working with large data sets.

Proficiency in Excel (VBA a plus).

Bonus:

Experience with sell-side OTC derivatives.

Understanding of security-based swaps regulations, and regulatory reporting.

Experience dealing with Auditors and Regulators.

We offer:

The opportunity to join a small and growing team of good people, where you can make a difference.

A meritocratic philosophy that champions collaboration.

Room to innovate, solve complex business problems, and build new products.

Competitive compensation, benefits, and perks.

The Base Salary Range for this role is $125,000 - $175,000. This range is representative of the starting base salaries for this role at Clear Street. Where a candidate falls in this range will be based on job-related factors such as relevant experience, skills, and location.

This range represents Base Salary only, which is just one element of Clear Street's total compensation. The range stated does not include other factors of total compensation such as bonuses or equity.

At Clear Street, we offer competitive compensation packages, company equity, 401k matching, gender-neutral parental leave, and full medical, dental, and vision insurance.

Our belief has always been that we are better as a business when we are all together in person.

As such, beginning on January 2, 2023, we are requiring employees to be in the office 4 days per week.

In-office benefits include lunch stipends, fully stocked kitchens, happy hours, a great location, and amazing views.

Our top priority is our people. We're continuously investing in a culture that promotes collaboration. We help each other through challenges and celebrate each other's successes.

We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse - in ideas, in cultures, and in experiences.

We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer.

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