Interest Rate Swap and FX Operations Specialist - VN2104
Marex Group, Chicago, IL, United States
Interest Rate Swap and FX Operations Specialist - VN2104
Chicago, IL Full-Time Operations
Diversified. Resilient. Dynamic.
Marex is a global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a major franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
With more than 35 offices around the globe, and over 2,300 dedicated people enabling access to exchanges and technology-powered services.
Marex is seeking an Interest Rate Swap and FX Operations Specialist who will support the end-to-end post-trade lifecycle across interest rate derivatives, FX, precious metals, and digital assets (crypto). This role is critical in ensuring accurate trade processing, timely settlement, and robust control across a diverse and high-volume product set.
The position requires close interaction with trading desks, treasury, and external counterparties, with a strong focus on operational risk management and process efficiency.
Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights, and analytics.
The Operations Department is first and foremost a control function. As such the Operations team must ensure controls are followed and always evaluated for improvement. The Operations team will be expected to work on both the daily priorities as well as putting in place the framework for any new products or initiatives.
Responsibilities
Trade Capture and Validation
Validate and enrich OTC trades across the following:
Interest Rate products e.g., (IR , FRAs)
FX (e.g., Spot, Forwards, Swaps, NDFs)
Precious Metals (spot, forwards, leases/swaps where applicable)
Crypto spot and OTC derivatives
Ensure accurate booking and lifecycle representation in internal systems.
Resolve trade discrepancies with Front Office and counterparties.
Confirmations and Matching
Manage trade confirmations via electronic platforms and bilateral workflows.
Utilize SWIFT for matching and confirmation.
Proactively monitor and resolve unmatched or disputed trades.
Reconciliations and Controls
Perform daily cash, position, and wallet reconciliations.
Investigate and resolve breaks across Nostro accounts and digital wallets.
Maintain strong controls and audit trails across all asset classes.
Lifecycle Event Management
Manage lifecycle events including:
Interest rate resets, fixings, and settlements.
FX forward rolls and settlements.
Crypto events (forks, airdrops where applicable).
Funding and Liquidity Management
Monitor and coordinate funding requirements across currencies.
Support CLS pay-in processes and intraday liquidity management.
Liaise with Treasury to ensure timely prefunding of obligations.
Exception Handling and Risk Management
Identify and elevate settlement failures and operational risks.
Manage counterparty queries and payment investigations.
Ensure adherence to internal controls and regulatory requirements.
Stakeholder and Client Interaction
Act as a key point of contact for Front Office, Treasury, Risk, and Compliance.
Engage with external counterparties, brokers, custodians, and exchanges.
Support onboarding of new clients, products, and markets.
Process Improvement & Projects
Contribute to automation and operational efficiency initiatives.
Participate in system enhancements, UAT, and new platform rollouts.
Support Marex’s expansion across digital assets and emerging markets.
General Responsibilities
All employees are expected to understand and comply with any Sarbanes Oxley operational requirements relevant to their role.
Ensuring compliance with the company’s regulatory requirements under the SEC, FINRA, NFA, CFTC and other applicable exchanges.
Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
Role model for demonstrating the highest level standards of integrity and conduct and reflecting Company Values.
At all times complying with Marex’s Code of Conduct:
To ensure that you are fully aware of and adhere to internal policies that relate to you, your role, or any other activities for which you have any level of responsibility.
To report any breaches of policy to Compliance and/or your supervisor as required.
To elevate risk events immediately.
To provide input to risk management processes, as required.
Competencies, Skills, and Experience
A collaborative team player, approachable, self-efficient and influences a positive work environment.
Leading by example and demonstrating the values of the firm.
Resilient in a challenging, fast-paced environment.
Ability to take a high level of responsibility in a fast pace and high-volume environment.
Excels at building relationships, networking and influencing others.
Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness.
Skills and Experience
At least 5 years’ experience in OTC Operations / Middle Office within a bank, broker dealer, or commodity firm.
Product knowledge of the following is required (in order):
Interest rate derivatives (IRS, FRAs)
FX products (Spot, Forwards, Swaps, NDFs)
Precious metals settlement (loco London strongly preferred)
Crypto operations (wallets, exchanges, blockchain basics)
Familiarity with CLS Group, SWIFT messaging (MT300/MT103/MT202), and confirmation platforms.
Understanding of global payment systems and settlement cut-offs.
Project management and execution, with strong preference for past experience in firm integrations and implementing change around systems and processes is strongly preferred.
Excellent verbal and written communication skills.
Experience working in a regulated environment and knowledge of the risk and compliance requirements associated with this.
Salary Range
$125,000 to $140,000 per year plus discretionary bonus
Marex is fully committed to the elimination of unlawful or unfair discrimination and values the differences that a diverse workforce brings to the company.
We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by the law.
#J-18808-Ljbffr
Chicago, IL Full-Time Operations
Diversified. Resilient. Dynamic.
Marex is a global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a major franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
With more than 35 offices around the globe, and over 2,300 dedicated people enabling access to exchanges and technology-powered services.
Marex is seeking an Interest Rate Swap and FX Operations Specialist who will support the end-to-end post-trade lifecycle across interest rate derivatives, FX, precious metals, and digital assets (crypto). This role is critical in ensuring accurate trade processing, timely settlement, and robust control across a diverse and high-volume product set.
The position requires close interaction with trading desks, treasury, and external counterparties, with a strong focus on operational risk management and process efficiency.
Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights, and analytics.
The Operations Department is first and foremost a control function. As such the Operations team must ensure controls are followed and always evaluated for improvement. The Operations team will be expected to work on both the daily priorities as well as putting in place the framework for any new products or initiatives.
Responsibilities
Trade Capture and Validation
Validate and enrich OTC trades across the following:
Interest Rate products e.g., (IR , FRAs)
FX (e.g., Spot, Forwards, Swaps, NDFs)
Precious Metals (spot, forwards, leases/swaps where applicable)
Crypto spot and OTC derivatives
Ensure accurate booking and lifecycle representation in internal systems.
Resolve trade discrepancies with Front Office and counterparties.
Confirmations and Matching
Manage trade confirmations via electronic platforms and bilateral workflows.
Utilize SWIFT for matching and confirmation.
Proactively monitor and resolve unmatched or disputed trades.
Reconciliations and Controls
Perform daily cash, position, and wallet reconciliations.
Investigate and resolve breaks across Nostro accounts and digital wallets.
Maintain strong controls and audit trails across all asset classes.
Lifecycle Event Management
Manage lifecycle events including:
Interest rate resets, fixings, and settlements.
FX forward rolls and settlements.
Crypto events (forks, airdrops where applicable).
Funding and Liquidity Management
Monitor and coordinate funding requirements across currencies.
Support CLS pay-in processes and intraday liquidity management.
Liaise with Treasury to ensure timely prefunding of obligations.
Exception Handling and Risk Management
Identify and elevate settlement failures and operational risks.
Manage counterparty queries and payment investigations.
Ensure adherence to internal controls and regulatory requirements.
Stakeholder and Client Interaction
Act as a key point of contact for Front Office, Treasury, Risk, and Compliance.
Engage with external counterparties, brokers, custodians, and exchanges.
Support onboarding of new clients, products, and markets.
Process Improvement & Projects
Contribute to automation and operational efficiency initiatives.
Participate in system enhancements, UAT, and new platform rollouts.
Support Marex’s expansion across digital assets and emerging markets.
General Responsibilities
All employees are expected to understand and comply with any Sarbanes Oxley operational requirements relevant to their role.
Ensuring compliance with the company’s regulatory requirements under the SEC, FINRA, NFA, CFTC and other applicable exchanges.
Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
Role model for demonstrating the highest level standards of integrity and conduct and reflecting Company Values.
At all times complying with Marex’s Code of Conduct:
To ensure that you are fully aware of and adhere to internal policies that relate to you, your role, or any other activities for which you have any level of responsibility.
To report any breaches of policy to Compliance and/or your supervisor as required.
To elevate risk events immediately.
To provide input to risk management processes, as required.
Competencies, Skills, and Experience
A collaborative team player, approachable, self-efficient and influences a positive work environment.
Leading by example and demonstrating the values of the firm.
Resilient in a challenging, fast-paced environment.
Ability to take a high level of responsibility in a fast pace and high-volume environment.
Excels at building relationships, networking and influencing others.
Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness.
Skills and Experience
At least 5 years’ experience in OTC Operations / Middle Office within a bank, broker dealer, or commodity firm.
Product knowledge of the following is required (in order):
Interest rate derivatives (IRS, FRAs)
FX products (Spot, Forwards, Swaps, NDFs)
Precious metals settlement (loco London strongly preferred)
Crypto operations (wallets, exchanges, blockchain basics)
Familiarity with CLS Group, SWIFT messaging (MT300/MT103/MT202), and confirmation platforms.
Understanding of global payment systems and settlement cut-offs.
Project management and execution, with strong preference for past experience in firm integrations and implementing change around systems and processes is strongly preferred.
Excellent verbal and written communication skills.
Experience working in a regulated environment and knowledge of the risk and compliance requirements associated with this.
Salary Range
$125,000 to $140,000 per year plus discretionary bonus
Marex is fully committed to the elimination of unlawful or unfair discrimination and values the differences that a diverse workforce brings to the company.
We are an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by the law.
#J-18808-Ljbffr