Clear Street
Associate Director, Derivatives Middle Office
Clear Street, New York, New York, us, 10261
About Clear Street:Clear Street is building modern infrastructure for capital markets. Founded in 2018 by top Wall Street and Silicon Valley veterans, Clear Street is an independent, non-bank prime broker designed to solve the industry's most neglected problem: legacy technology.
We have built a proprietary, cloud-native clearing and custody system from the ground floor to replace the outdated infrastructure used across capital markets. Our platform is fully integrated with central clearing houses and exchanges to support billions in trading volume per day. We've agonized about our data model abstractions, created horizontal scalability, and crafted thoughtful APIs. All so we can provide a best-in-class experience for our clients.
By combining highly-skilled product and engineering talent with seasoned finance professionals, we're building the essentials to compete in today's fast-paced markets.
The Role:We are looking for a Middle Office Associate Director to work as part of the Clear Street Derivatives team. Clear Street operates both a FINRA registered Broker/Dealer and a SEC regulated Securities Based Swap Dealer. This role will be focused on supporting colleagues and our counterparties in the middle office function across both entities. You will be a part of the Derivatives Middle Office team and work in partnership with the Derivatives Product and engineering teams to define an end to end operation environment for Derivatives.You will perform daily Middle Office responsibilities, such as:
Interact directly with clientsPerform reconciliations and investigate breaks/discrepanciesPrepare trade confirmations and regulatory reportingBook trades, cash flows, and corporate actionsManage cashflows (processing and/or settlement of PnL, collateral, interest, etc.)Process expiries and lifecycle events
Build and maintain client relationships, and serving as a liaison between clients and prime brokers/counterpartiesYou will participate in various audits and regulator reviewsYou will learn new applications and help test integrationsYou will work closely with the Trading Desk, Sales, Compliance, Legal and Finance teamsYou will contribute to process improvement and the general operation of the team, swap dealer, and groupExperience / Skills:
At least five (5) years of professional experience working within a Middle Office Derivatives role covering trade settlements, fail control, reconciliations of trade discrepancies, and client servicing; previous experience working for a Securities Based Swap Dealer is highly preferredPrior experience with various products including equities, fixed income, repurchase agreements, futures, FX, options and working knowledge of Corporate ActionsExperience working with large data setsProficiency in Excel (VBA a plus)Bonus:
Experience with sell-side OTC derivativesUnderstanding of security-based swaps regulations, and regulatory reportingExperience dealing with Auditors and RegulatorsWe offer:
The opportunity to join a small and growing team of good people, where you can make a differenceA meritocratic philosophy that champions collaborationRoom to innovate, solve complex business problems, and build new productsCompetitive compensation, benefits, and perks
The Base Salary Range for this role is $125,000 - $175,000. This range is representative of the starting base salaries for this role at Clear Street. Where a candidate falls in this range will be based on job related factors such as relevant experience, skills, and location. This range represents Base Salary only, which is just one element of Clear Street's total compensation. The range stated does not include other factors of total compensation such as bonuses or equity.
At Clear Street, we offer competitive compensation packages, company equity, 401k matching, gender neutral parental leave, and full medical, dental and vision insurance. Our belief has always been that we are better as a business when we are all together in person. As such, beginning on January 2, 2023, we are requiring employees to be in the office 4 days per week. In-office benefits include lunch stipends, fully stocked kitchens, happy hours, a great location, and amazing views.
Our top priority is our people. We're continuously investing in a culture that promotes collaboration. We help each other through challenges and celebrate each other's successes. We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse - in ideas, in cultures, and in experiences. We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer. #LI-Hybrid
We have built a proprietary, cloud-native clearing and custody system from the ground floor to replace the outdated infrastructure used across capital markets. Our platform is fully integrated with central clearing houses and exchanges to support billions in trading volume per day. We've agonized about our data model abstractions, created horizontal scalability, and crafted thoughtful APIs. All so we can provide a best-in-class experience for our clients.
By combining highly-skilled product and engineering talent with seasoned finance professionals, we're building the essentials to compete in today's fast-paced markets.
The Role:We are looking for a Middle Office Associate Director to work as part of the Clear Street Derivatives team. Clear Street operates both a FINRA registered Broker/Dealer and a SEC regulated Securities Based Swap Dealer. This role will be focused on supporting colleagues and our counterparties in the middle office function across both entities. You will be a part of the Derivatives Middle Office team and work in partnership with the Derivatives Product and engineering teams to define an end to end operation environment for Derivatives.You will perform daily Middle Office responsibilities, such as:
Interact directly with clientsPerform reconciliations and investigate breaks/discrepanciesPrepare trade confirmations and regulatory reportingBook trades, cash flows, and corporate actionsManage cashflows (processing and/or settlement of PnL, collateral, interest, etc.)Process expiries and lifecycle events
Build and maintain client relationships, and serving as a liaison between clients and prime brokers/counterpartiesYou will participate in various audits and regulator reviewsYou will learn new applications and help test integrationsYou will work closely with the Trading Desk, Sales, Compliance, Legal and Finance teamsYou will contribute to process improvement and the general operation of the team, swap dealer, and groupExperience / Skills:
At least five (5) years of professional experience working within a Middle Office Derivatives role covering trade settlements, fail control, reconciliations of trade discrepancies, and client servicing; previous experience working for a Securities Based Swap Dealer is highly preferredPrior experience with various products including equities, fixed income, repurchase agreements, futures, FX, options and working knowledge of Corporate ActionsExperience working with large data setsProficiency in Excel (VBA a plus)Bonus:
Experience with sell-side OTC derivativesUnderstanding of security-based swaps regulations, and regulatory reportingExperience dealing with Auditors and RegulatorsWe offer:
The opportunity to join a small and growing team of good people, where you can make a differenceA meritocratic philosophy that champions collaborationRoom to innovate, solve complex business problems, and build new productsCompetitive compensation, benefits, and perks
The Base Salary Range for this role is $125,000 - $175,000. This range is representative of the starting base salaries for this role at Clear Street. Where a candidate falls in this range will be based on job related factors such as relevant experience, skills, and location. This range represents Base Salary only, which is just one element of Clear Street's total compensation. The range stated does not include other factors of total compensation such as bonuses or equity.
At Clear Street, we offer competitive compensation packages, company equity, 401k matching, gender neutral parental leave, and full medical, dental and vision insurance. Our belief has always been that we are better as a business when we are all together in person. As such, beginning on January 2, 2023, we are requiring employees to be in the office 4 days per week. In-office benefits include lunch stipends, fully stocked kitchens, happy hours, a great location, and amazing views.
Our top priority is our people. We're continuously investing in a culture that promotes collaboration. We help each other through challenges and celebrate each other's successes. We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse - in ideas, in cultures, and in experiences. We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer. #LI-Hybrid