What are the responsibilities and job description for the Derivative Operations Specialist position at venerable?
The Derivative Operations Specialist is a key member of the Investment & Risk Operations team within Venerable’s Risk department. The position supports the derivative operations activities for Venerable’s liability and asset hedging programs across the variable annuity business. The Derivative Operations Specialist’s key areas of responsibility include supporting internal derivative processes, overseeing derivative service providers’ operational activities, onboarding of new derivative instruments, reporting, invoicing and budget projections for certain derivative vendors, and optimizing operational processes. The Derivative Operations Specialist will interact with internal and external parties, external partners include derivative services providers, counterparties, investment managers, custodian banks, investment accounting providers, and auditors. This role is located in West Chester, PA - we are currently working in a Hybrid Work Model, in-office 3 days a week and remote 2 days a week. Principle Responsibilities: Assist with instructing and supporting derivatives-related operational activities for futures, cleared instruments, and bi-lateral positions (e.g., TRS, rate & equity options, cross currency swaps), including but not limited to; collateral management efforts, novation and derivative movements, data management, reporting, and derivative documentation. Support the operational onboarding activities related to derivative instruments and strategies, which may include developing new or expanded operational functionality, new derivative instruments, custodial and accounting vendor account structure and/or portfolio structural setup, data/analytics/reporting capabilities, vendor integration, and internal/external stakeholder support. Validate invoicing for certain derivative specific vendors and help in calculating future projections for the Venerable expense budget. Complete derivative operations and compliance tasks, create documentation and procedures, and ensure the ability scale along with standard repeatable processes. Collaborate with internal stakeholders (including but not limited to: Investment & Risk Operations, Financial Risk Management, Investment Management, Investment Accounting, Finance/Hedging, Treasury, Technology, Audit, Legal) and external partners (e.g., derivative services provider, derivative investment managers, FCM & bank dealer counterparties, derivative valuation vendors, investment accounting platform) to support derivative-related operational activities. Maintain awareness and knowledge related to peers, industry best practices, trends, and regulation impactful to investment operations and understanding the implications for our business. Provide ad-hoc support for urgent business needs. Key requirements: Bachelor’s degree in business, accounting, economics, finance, or related field or equivalent experience. 2-5 years of experience in the financial services industry and 1-3 years of experience within derivatives or an operations/reconciliation team. Demonstrated experience within derivatives operations, investment operations, investment accounting, investment management, and/or related area. General understanding of derivative instruments and operations (Swaps, Futures, Options, Currency, etc.). General understanding of derivative documents and compliance (FCM Agreements, ISDAs, CSAs, etc.). Maintain a solid knowledge and use of technology to support derivative operations processes (e.g. bank custody platforms, investment accounting platforms - e.g. Clearwater, Nexen, etc.). Knowledge of third-party derivative operations platforms is a plus. Interpersonal skills to interact effectively across Venerable, as well as with external investment partners and vendors. Detail-oriented, well organized, and desire to work in fast-paced entrepreneurial environment, varying workloads, and deadlines. Ability to work independently, proactively identify potential issues and propose viable solutions, as well as the ability to work collaboratively within a team environment. Proficiency in Microsoft Excel, Powerpoint, and Word. Experience with project management and data skills is a plus. #LI-MB01 Venerable Values: Every position at Venerable has responsibility for living out the company's values as described here: We are Courageous - We think critically, ask "why?" and seek out creative solutions. We are Curious - We take calculated risks, learn from out failures, and challenge traditional ways of thinking. We are Connected - We are connected to each other, our customers and our community. Competitive Compensation, Benefits, Current Hybrid Work Schedule and a Generous PTO Package! Introduce Yourself To Our Team Of Recruiters Are you interested in joining the Venerable team but don't see a job posting that aligns with your goals? Introduce yourself to our recruiters for consideration in future positions below. Would you like to be alerted if a new job is posted? Set a custom job alert that aligns with your career aspirations. Click on "Job Alerts" in the top right corner of this screen to get started. Not seeing it? You have to be signed in to your Candidate page. To do this click on "Sign In" in the top right corner of page. Founded in 2018, Venerable owns and manages legacy annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd. Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. We provide innovative risk transfer solutions to companies with variable annuity blocks who seek to rebuild a secure financial future. We will be the answer for companies focused on long term prosperity. Together, we are visionaries. We embrace change, overcome challenges and act like owners. We inspire, support and empower one another. We thrive on trust, decisiveness and transparency. We are committed to dismantling and eliminating systemic racism and invested in ensuring change is constantly evolving. As an organization, Venerable stands by our core values and consistently works to sustain an equitable environment where diverse perspectives and backgrounds are core to ensuring organizational success. Our Equity, Diversity, and Inclusion program involves colleagues from throughout our organization and is focused on five core topics to drive change - Education and Perspective Seeking, Training, Investments, Volunteerism, and Human Resource Practices. We are also proud members of CEO Action for Diversity & Inclusion, participants in supporting events in the communities in which we operate, and contributors to the Society of Black Actuaries and Federation of Iowa Insurers Race and Insurance working group.