Commodity Analyst jobs in Chicago, IL

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

SUMMARY

U.S. Bank is seeking a seasoned Energy and Commodity Derivatives Products Back Office Lead/Analyst with relevant experience that will contribute toward the success of our operational initiatives in the Commodities space. This position reports to the Head of Derivatives Operation Back Office and will partner with business line, operations, technology, and compliance stakeholders to implement and maintain the operational solutions necessary to support commodity business buildup by creating effective procedures and controls for client onboarding, confirmations, settlements, and reporting processes. The Back Office Lead will also participate and/or lead various ad hoc projects, such as system upgrades and testing. The ideal candidate should help Head of Back Office to identify automation opportunities and areas of improvements.

RESPONSIBILITIES

- Oversee Commodity Back Office responsibilities including client onboarding, confirmations, settlements and cash reconciliations etc.

- Demonstrate deep understanding of energy and commodity markets including Oil, Gas, Agriculture, Metal and Environmental with in-depth knowledge of various derivative products (Swaps, Caps/Floors/Collars and Futures) including understanding of market price setting and cash payment calculations

- Demonstrate deep understanding of ISDA Definitions related to Confirmations.

- Hand on experience to build various processes and reporting and familiar with technology required to troubleshoot and resolve trade, cash settlement, confirmation and system configuration issues.

- Produce innovative ways to refine processes as a means of improving efficiencies allowing for both Commodity Front & Back Office to adapt to the growing needs of the business

- Demonstrated ability to Lead multiple special projects and/or activities designed to resolve pain points for Front, Middle or Back Office teams, including Confirmation template development, Settlements, Reporting and application upgrades

- Collaborate with teams across Derivative Trading Front Office, Technology & Operations Services, Compliance, Legal, Market Risk Management, Treasury, and Finance, to ensure transparent and aligned objectives with seamless resolution delivery

- Define and document business requirements and procedures to ensure all business rules are applied consistently across different technology solutions and user interfaces.

- Act as liaison between Commodity Front Office and Development, tracking and identifying open issues for upcoming Agile Sprint deliveries.

- Act as Business Line stakeholder accountable for validating test requirements in lower environments while simultaneously creating and testing a personal suite of test cases to ensure product deliverables meet expectations prior to go-live.

- Represent Back Office in both internal and external audits demonstrating operational understanding and compliance with various rules and regulations including Dodd-Frank, Volcker and Sarbanes-Oxley

- Successfully on-board and train staff ensuring they can support the daily needs of the business.

- Create and lead training and development programs conducted across various organizations within the bank specific to building the knowledge and understanding of derivatives.

- Process onboarding, settlement, confirmation, and configuration tasks as necessary in support of the Derivatives Products Group Rates and Commodity/Energy trading activity

REQUIRED
- Six or more 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

- Advanced proficiency with Excel Functions and VBA Knowledge is a plus.

- 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 macro enabled tools to improve process efficiencies

- Experience with audit/regulatory issue management, response, and escalation

- Demonstrated experience in the successful implementation of operational process change and improvement within capital markets operations

- Strong process facilitation and project management skills.

- Strong presentation, relationship building, collaboration and negotiation skills

- Self-motivated, highly organized, and able to work independently without direct supervision

- Broad awareness of the Depository Trust & Clearing Corporation (DTCC) framework for swaps reporting, including the regulatory requirements for timely, complete, and accurate reporting for Over-the-Counter Derivative (OTC) Derivatives products (17 CFR Parts 43 and 45)

- 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

This role offers a hybrid/flexible schedule which means there's an in-office expectation of 3 or more days per week and the flexibility to work outside the office location for the other days.

#USBOps

#WCIBO

If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Benefits: 

Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

• Healthcare (medical, dental, vision)

• Basic term and optional term life insurance

• Short-term and long-term disability

• Pregnancy disability and parental leave

• 401(k) and employer-funded retirement plan

• Paid vacation (from two to five weeks depending on salary grade and tenure)

• Up to 11 paid holiday opportunities

• Adoption assistance

• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.  

E-Verify

U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.