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.
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.