U.S. Bancorp, with nearly 70,000 employees and $554 billion in assets as of December 31, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with digital tools that allow customers to bank when, where and how they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial, corporate, and investment customers across the country and around the world as a trusted and responsible financial partner. This commitment continues to earn a spot on the Ethisphere Institute’s World’s Most Ethical Companies list and puts U.S. Bank in the top 5% of global companies assessed on the CDP A List for climate change action. Visit usbank.com for more.

U.S. Bank is seeking a Derivatives Products Operations Business Analyst with relevant experience that will contribute toward the success of our operational initiatives in the interest rates and commodities space. This position reports to the Head of Derivatives Operations and will partner with business line, operations, technology, and compliance stakeholders to implement and maintain the operational solutions necessary to support the Swap Dealer rates and commodity business. The Business Analyst will perform client onboarding, confirmations, settlements, and reporting processes. The Operations Business Analyst will also participate in various ad hoc projects, such as system upgrades and testing. The ideal candidate should help Head of Operations to identify automation opportunities and areas of improvements while performing daily tasks.

Responsibilities

• Process onboarding, settlement, confirmation, and configuration tasks as necessary in support of the Derivatives Products Group (DPG) Rates and Commodity trading activity.
• Input and maintain client data.
• Manually update system-generated confirmations.
• Review and archive incoming confirmations.
• Publish reports related to confirmation activity and outstanding confirmations.
• Review and approve settlements activity.
• Resolve settlement issues.
• Publish reports related to settlement activity and outstanding settlements.
• Run and/or review various reports relating to DPG Operation tasks.
• Demonstrate basic understanding of interest rate and commodity derivatives and become familiar with the various product type (swaps, caps/floors/collars and futures) including understanding of price/rate settings and cash payment calculations.
• Become familiar with ISDA Definitions related to confirmations.
• Be familiar with technology to troubleshoot and resolve trade, cash settlement, confirmation and system configuration issues.
• Collaborate with teams across Derivative Trading Front Office, Technology & Operations Services, Compliance, Legal, Market Risk Management, Treasury, and Finance to deliver necessary objectives as required.
• Assist Operation Manager to enhance various processes and reporting.
• Define and document business procedures when necessary.
• Act as Business Line stakeholder responsible for defining and documenting business requirements while simultaneously creating and testing a suite of test cases to ensure product deliverables meet expectations prior to upgrades.
• Assist Operations manager with internal and external audits.
• Demonstrate operational understanding and compliance with various rules and regulations including Dodd-Frank, Volcker and Sarbanes-Oxley.
• Work closely with other members of the DPG Operations team in a collaborative environment.

Required

• 4+ years of related experience.
• Bachelor's degree or equivalent work experience.

Preferred

• In-depth knowledge and working experience of energy and commodity market, asset classes, various derivative products offered and an inquisitive mind.
• Strong understanding of Calypso or similar trading platform and how to navigate the software to batch files, track trade execution and reporting, execute on-demand reports.
• Proficient ability to write, troubleshoot and implement Excel Macro enabled tools to improve process efficiencies.
• Advanced proficiency with Excel Functions and VBA Knowledge.
• Demonstrated experience in the successful implementation of operational process change and improvement within capital markets operations.
• Self-motivated, highly organized, and able to work independently without direct supervision.
• Ability to maintain current with industry changes including applicable laws, rule amendments, regulatory expectations, and trends, DTCC technical specifications and other industry-wide initiatives that may have a material impact on swap data reporting.