Treasury Operations AnalystApply Job ID 5369724 Location Reston, VA
This position is responsible for performing the daily operational functions related to Navient's Collateral and Derivatives Programs, including payment and security confirmations, payment notice generations, resolving discrepancies with various internal and external counterparties, as well as some Cash Management functions.
The individual must possess a high degree of accuracy in all areas of work. Must be extremely attentive to details and have excellent math skills. Familiarity with debt and swap interest rate calculation and terminology is preferred. The individual must communicate concisely and effectively throughout the various levels of management. The individual must be able to operate efficiently and independently under fixed deadlines in accordance with standard industry practice.
The individual must maintain constant communication with various counterparties including external banks, dealers, brokers, and paying agents. Interactions with internal departments within Navient include Capital Markets, Legal, IT, Credit and Corporate Accounting. The individual must be knowledgeable of the operational relationships between these departments.
Availability after business hours due to unexpected delays will be required.
This position reports to the Cash Manager. No subordinate positions report to this position
1. Perform all daily operational functions related to interest rate swaps.
* Resolve discrepancies prior to the payment date.
* Confirm, verify, and settle swap unwinds.
* Complete daily reconciliation of swap account the following business day.
* Submit Swap/Recon Wire Report, containing confirmation method and counterparty name, 3 days prior to the payment date, including all necessary backup.
* Research payment discrepancies and resolve outstanding fails within 30 calendar days.
* Provide counterparty with rate calculations.
* Verify rate interpolations for initial/final payments.
* Review/approve new deals in Principia by trade date.
* Manually track deals where there may be system limitations.
* Enforce payment calculation methodology according to 1991 ISDA standards.
* Assist with internal operational queries.
2. Perform all daily operational functions related to collateral.
* Monitor the credit ratings of counterparties.
* Prepare the daily Market Value Reports.
* Determine collateral movements.
* Make collateral calls.
* Resolve market value disputes between counterparties.
* Work in conjunction with various departments to process collateral cash and security movements.
* Enter cash trades in Principia.
* Complete daily cash collateral reconciliation.
* Assist various internal groups with changes to the derivative portfolio.
* Prepare various reports including Portfolio Reconciliations, Margin Calls, Swap Contract Summary, Derivative & Swap Exposure Summary, Month-End Swap Comparisons, Floor Premium Summary, and Monthly Cash Collateral Interest Reports.
* Ensure activities are in compliance with all ICE procedures and policies.
3. Perform the following Cash Management Functions
* Perform all functions relating to the printing of Accounts Payable check runs.
* Process any manual payroll checks, including register adds in the appropriate banking website.
* Prepare and process the corporate deposit weekly and prior to month end.
* Process the monthly account analysis report for the core banks (JPMorgan, Chase and Wells Fargo)
* Work in collaboration with tax department to register the corporation for Federal and/or state tax EFTs so as to enable the Cash Management Analyst to execute payments when required.
* Process requests for new bank accounts and work with various areas of the company on new service setups.
* Assist with internal operational queries.
* Create management reports as needed.
4. Special projects as assigned by the Cash Manager or Director of Treasury Operations
5. Cross train and provide backup support to other analysts within Treasury Operations
6. Maintain procedures and update changes within 30 calendar days
* The incumbent must have a minimum of 2 years of experience within the debt and swap operations field and a bachelor's degree with a business focus.
* Knowledge of payment systems, both domestic and foreign are necessary.
* Knowledge of complicated corporate debt, swap structure, and settlement of these trades are necessary.