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The Middle Office Specialist position supports the systems, functions processes and procedures for Liquidity Management Cash Sweep, Repo and SAM solutions. Responsibilities may include, but are not limited to: collaborate in the creation of processes and procedures, supervisory authority to review and sign-off on daily tasks performed by the middle office, processing of trading and trade settlements, reconciliation and data management, revenue recognition, account maintenance, and business performance reporting. The Middle Office Specialist III serves a point of escalation for internal and external partners and assists with client resolutions. The position will help support the Liquidity Middle Office Manager to ensure the Middle Office as a function is operating effectively and efficiency, including providing expected service to business partners throughout the organization which will include the Front Office and Operations teams. The position is responsible for the adherence to regulatory compliance and manages processes to ensure passing audit score on any internal or external audits.
Provides oversight support to the Middle Office team by managing the day-to-day workflows of the work group. The Middle Office Specialist III assists by reviewing and signing off on daily and monthly work packets to meet regulatory and control objectives.
Performs key tasks in the middle office who assists with resolving complex problems and ease of workloads. The position responsibilities may also include:
Trading & trade settlements: day-to-day execution and resolution of complex securities transactions.
Reconciliation and data management: monitor and analyze system records and daily transaction and position comparison reports for discrepancies between custodian, reporting vendors, fund providers and internal banking systems. Should the reports show a discrepancy the Middle Office Specialist III will investigate the trade activity and application audit trails to identify the root cause and correct the underlying discrepancy.
Account maintenance: implement account changes in Liquidity Management systems to ensure adherence to regulatory requirement to maintain accurate books & records.
Revenue recognition: on a monthly basis calculate revenue estimates and post entries into SVB's accounting system PSGL. Process and review management fees for Liquidity Management products.
Responsible for the routine generation of standard performance reporting to track volumes and SLAs against targets.
Coordinate and manage the development of or changes to existing client information reports that are used by Sales, Product Managers, Leadership, and & Audit. Is the main point of contact for understanding business needs and working with IT in development:
Monitor monthly activity levels
Produces reports ad-hoc with minimal guidance or supervision
May also help to develop new reports when needs arise. Collaborates with other team members and leadership to develop creative reporting solution.
Develop and manage procedures and process maps for critical processes in the Middle Office:
Securities settlements, account maintenance, revenue and fee tracking
Work closely with Liquidity Management Product Managers, Trading, Client Management, GDO, IT to develop protocols and documentation for solution set. Create required documentation for the solutions and work closely with Legal and Marketing to be within Bank compliant. Manage documentation for a number of products and solutions.
5 or more years of related professional experience including financial services middle or back office
Internal Number: 6568889
About Silicon Valley Bank
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