Associate, Foreign Exchange and Derivative Operations - Back Office

800 Delaware Avenue (18056), United States of America, Wilmington, Delaware

At Capital One, we're building a leading information-based technology company. Still founder-led by Chairman and Chief Executive Officer Richard Fairbank, Capital One is on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking. We measure our efforts by the success our customers enjoy and the advocacy they exhibit. We are succeeding because they are succeeding.

Guided by our shared values, we thrive in an environment where collaboration and openness are valued. We believe that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. We elevate each other and obsess about doing the right thing. Our associates serve with humility and a deep respect for their responsibility in helping our customers achieve their goals and realize their dreams. Together, we are on a quest to change banking for good.

Associate, Foreign Exchange and Derivative Operations - Back Office

Commercial Operations (CML Ops) is one of the largest divisions in the Commercial Bank, this teams scope is horizontal across the bank and as such it supports numerous critical processes and transactions. By incubating innovative solutions and embracing technology, this team creates an unforgettable and unparalleled experience for our associates and clients. One of the most impactful groups in the CML Ops team is the Capital Markets and Asset Management team.

The Capital Markets and Asset Management team (CMAM) provides operational support for Derivatives, Trade Services, Capital One Securities, and Tax Credit Operations. Partnering with the Capital Markets Business, Treasury Management, and other Commercial Bank operational teams, the organization is responsible for ensuring efficient and accurate transactions and lifecycle processing across a broad range of products and services. Despite being four specialized teams, CMAM collectively focuses on delivering scale and efficiency, nailing operational risk, providing a beautiful client experience and enabling our talented associates to excel. The team is currently growing and searching for an Associate, Foreign Exchange & Derivative Operations.

Job Description & Ideal Candidate:

The Derivative Operations team consists of two teams which are responsible for Trade Confirmations and Trade

Settlement. Through partnership with the business, trading and other internal teams, Operations supports the full

derivative life cycle and other critical functions. The role is Wilmington, DE based; however, you will interact with

regional teams and a broad base of domestic counter-parties. This individual's responsibilities will include but are not limited to:

Role Responsibilities:

  • Daily monitoring of payments and receipts, invoicing clients, price entry, price reporting, and the daily reconciliation of customer account balances for Commodity, Interest Rates and FX Derivative products
  • Resolve pre- and post-settlements breaks and ensure timely resolution of breaks
  • Create and monitor fails and related outstanding reports
  • Ensure compliance to key controls and regulatory changes
  • Communicate with external/internal clients to ensure timely execution of settlements and resolve all outstanding queries on payments
  • Work closely with management to ensure proper risk and control measures are in place
  • Act as system expert and super-user for the multiple trading platforms
  • Build and maintain strong business relationships with Commodities, Interest Rate and Foreign Exchange (FX) Derivative trading desks, and ensure that their queries and requests are appropriately addressed
  • Maintain a solid understanding of the overall business and operational needs, including detailed product and trade type knowledge
  • Working experience with swift wire processing
  • Develop expertise in regulatory requirements and help to translate these regulatory requirements into functional requirements
  • Interface with Technology teams to set requirements for enhancing/defect resolutions for trading platforms
  • Lead and participate in enhancement projects with Technology and Support teams to support the growth and sustainability of the settlement process and derivatives business
  • Identify, resolve and implement process improvements or enhancements
  • Support ad hoc, enhancement or business-wide projects either independently or through partnership with support teams
  • Work with management to define and execute strategic initiatives and yearly roadmaps
  • Work either independently or in partnership with Derivatives and Support teams to implement automated solutions
  • Build and maintain strong partnerships with supporting teams in Capital Markets, Compliance, Technology, and other internal stakeholders


The Ideal Candidate will have:

  • Ability to recognize opportunities, generate ideas, validate business need, influence others, and bring innovation and efficiency to life for the Derivatives team
  • Critical thinking skills
  • Must have strong ability to integrate business fundamentals, technology skills and project management
  • Ability to leverage automated solutions to overcome business problems, through partnership with Technology or independent development
  • Demonstrated ability to independently analyze problems and synthesize and implement solutions
  • Proven record in initiating, implementing and improving processes
  • Strong communication skills are a must. Impeccable written and oral communication skills, coupled with strategic influencing skills and the ability to drive agreement and results through intellect, interpersonal and negotiation skills
  • Must display an intense focus on achieving both short and long-term goals. Candidate should be able to drive and execute an agenda in an uncertain and fluid environment
  • Strong attention to detail and a sense of urgency in escalating and resolving outstanding issues
  • Ability to work effectively both in a team environment or independently. Willingness to operate as a self-starter and continuously develop project, process and technology skills is necessary
  • Strong (advanced) MS Excel background required, including ability to build macros
  • Familiarity with Reconplus and general ledger reconciliation
  • Experience with FXALL, Misys and Bloomberg CMS


Basic Qualifications:
  • Bachelor's degree or Military experience
  • At least 3 years of experience working in a Capital Markets Middle or Back Office


Preferred Qualifications:

  • At least 3-4 years of Derivatives Operations - lifecycle processing
  • Strong knowledge of ISDA Definitions
  • Dodd Frank regulation experience is a plus
  • Proficiency in programming applications or systems a plus
  • Experience in business or data analytics a plus
  • Experience in creating SQL scripts and VBA Macros a plus
  • Experience with robotic applications/engineering a plus
  • OCR, Python, RPA, AI, and data mining skills


At this time, Capital One will not sponsor a new applicant for employment authorization for this position


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