Derivative Operations Specialist (contract)

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Job Summary:

We are seeking a Derivative Operations Specialist to support critical post-trade operations within a fast-paced markets environment. This role focuses on the accurate and timely settlement of derivative cash flows across interest rate derivatives, equities, futures, and FX products.

The position is based in Pittsburgh, PA with a hybrid schedule (4 days onsite) and offers strong exposure to complex financial instruments, reconciliations, and cross-functional collaboration with trading desks, clients, and counterparties.

Key Responsibilities:

• Settlements Processing: Manage settlement of counterparty payments for bilateral and cleared derivatives
• Reconciliations: Perform Level 2 reconciliations across derivative cash flows, trades, and positions, including futures activity cleared through FCM relationships
• Exception Management: Investigate and resolve cash, trade, and position breaks, partnering with internal teams and external counterparties
• Client & Counterparty Support: Respond to inquiries related to settlements, payments, and discrepancies in a timely and professional manner
• Market Infrastructure Coordination: Act as a key contact for cleared swaps and futures inquiries with clearinghouses and brokers (e.g., LCH, Citi)
• Cash Flow Oversight: Support margin movements, collateral management, upfront fees, and periodic payments (e.g., quarterly settlements)
• Risk & Controls: Identify operational risks, ensure strong control execution, and escalate issues appropriately
• Process Improvement: Contribute to system enhancements, testing initiatives, and operational efficiency improvements

Qualifications:

• Bachelor’s degree required
• 3–5 years of relevant operations experience in financial services
• Experience with derivatives settlements OR strong exposure to payment/settlement processes (e.g., cash, bonds, equities, futures, options)
• Solid understanding of reconciliations, break resolution, and exception management
• Ability to manage high volumes of transactions and work under tight deadlines
• Strong analytical skills and comfort working with large datasets
• Proficiency in Microsoft Excel

Preferred Experience:

• Direct experience supporting derivatives (interest rate swaps, futures, options, FX products)
• Familiarity with margin, collateral management, and multi-currency cash flows
• Experience with reconciliation tools
• Understanding of structured products (e.g., structured notes, credit-linked notes)
• Experience working with clearinghouses or brokers (e.g., LCH, FCM models)
• Familiarity with AI tools to support operational workflows

Why Join Us:

This role offers hands-on exposure to complex derivatives products and high-impact operations within a global markets environment. You’ll work closely with trading desks, counterparties, and internal teams while developing expertise in settlements, reconciliations, and risk management.

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