Citizens Global Markets Operations Swap Dealer Reporting Specialist in Boston, Massachusetts
The Global Markets Operations team within Commercial Operations supports Front, Middle, Back Office and Collateral Management functions across a range of Listed and Over-The-Counter (‘OTC’) derivative products. Within Global Markets Operations, the SDR Reporting Specialist plays a critical role in ensuring that Citizens’ Swap Data Repository (SDR) submissions comply with all relevant CFTC regulatory reporting requirements. The role requires the Specialist to collaborate with various internal stakeholders, including Technology, Compliance, and Operations teams at various levels across the bank to ensure timely and accurate resolution of any discrepancies. The candidate should demonstrate in-depth knowledge of foreign exchange, interest rate, and commodity over-the-counter derivative products.
The Specialist will be responsible for overseeing the submission, monitoring, and validation process for reporting Citizens’ swaps activity, including both Part 43 Real Time Reporting and Part 45 Swap Data Reporting, to ensure all trade information is reported accurately, completely, and in a timely manner. The candidate will be expected to execute processes for the identification and correction of SDR errors and omissions, investigate any rejected submissions, and prioritize and categorize reporting issues as they may arise. The Specialist is also responsible for driving any regulatory reporting changes arising out of CFTC or DTCC requirements, in conjunction with relevant stakeholders. The candidate is ideally proficient in using transaction reporting systems such as S&P Global’s Cappitech, or have experience with proprietary reporting systems, trading system workflows and data lineage exercises. This role requires strong analytical skills, attention to detail, and excellent communication skills.
Reviewing and analyzing trade data to ensure all relevant data is collected and reported in compliance with regulatory requirements.
Maintaining accurate records of all swap transactions and regulatory submissions
Work closely with various teams, including Compliance, Operations, and Technology, to develop and improve processes for timely, accurate, and complete SDR reporting.
Identify any opportunities for improved efficiency and streamlined processes.
Monitor SDR data integrity, identifying any errors or omissions and promptly correcting them.
Develop and maintain internal controls for SDR reporting to ensure compliance.
Coordinate with vendors and stakeholders to manage data exceptions and make corrections as necessary.
Develop and maintain a comprehensive understanding of CFTC rules governing real time reporting and swap data reporting for swap dealer reporting counterparties.
Oversee completion of monthly reconciliation of DTCC Trade State data vs Citizen's data
Bachelor's degree in finance, Business, or related field
Minimum of 5 years of direct experience in financial trade reporting for a swap dealer or similar financial institution; ideally the candidate is familiar with DTCC North America trade repository and technical specifications.
In-depth knowledge of OTC derivatives and their respective markets
Strong understanding of CFTC regulations and reporting requirements for swap dealers
Highly analytical with excellent problem-solving skills
Strong attention to detail and accuracy
Deep knowledge of Microsoft Excel, ability to write formulas (vlookup, concatenate etc)
Microsoft Access and/or Alteryx skillset is a plus.
Excellent written and verbal communication skills
Ability to work independently and within a team environment.
May be required to work extended hours when necessary.
Riverside RI or Boston MA
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Equal Employment Opportunity
At Citizens we value diversity, equity and inclusion, and treat everyone with respect and professionalism. Employment decisions are based solely on experience, performance, and ability. Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression (including transgender individuals who are transitioning, have transitioned, or are perceived to be transitioning to the gender with which they identify), genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws.
Equal Employment and Opportunity Employer
Citizens is a brand name of Citizens Bank, N.A. and each of its respective affiliates.
Why Work for Us
At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth
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