A Program Group Manager for OTC Settlements is a senior leadership role at the heart of financial market infrastructure, critical for ensuring the stability and efficiency of the global derivatives market. This profession involves overseeing the complex processes related to Over-the-Counter (OTC) derivative settlements, a high-stakes environment where accuracy and timeliness are paramount. Professionals in these jobs are strategic leaders responsible for managing teams and systems that handle the confirmation, reconciliation, and final settlement of bespoke financial contracts. They act as the crucial link between high-level program strategy and day-to-day operational execution. The common responsibilities of a Program Group Manager in OTC Settlements are multifaceted. Typically, they are accountable for the end-to-end settlement lifecycle, ensuring all OTC trades—including interest rate swaps, credit default swaps, and foreign exchange derivatives—are processed accurately and within stringent deadlines. A core duty involves managing a group of settlement analysts and specialists, providing direction, mentorship, and performance management. They are also tasked with driving process improvements, leveraging technology to automate manual tasks, and enhancing straight-through processing rates to reduce operational risk. Furthermore, they own the governance and control framework for their area, ensuring compliance with industry regulations (such as Dodd-Frank or EMIR) and internal risk policies. They frequently collaborate with other departments like trading, technology, risk, and compliance to resolve complex issues and implement new products or regulatory changes. Typical skills and requirements for these leadership jobs are demanding. Employers generally seek candidates with an extensive background in financial operations, specifically with deep, hands-on knowledge of OTC derivatives products and their post-trade lifecycle. Exceptional leadership and people management skills are non-negotiable, as is a proven track record in program or project management, often supported by certifications like PMP or PRINCE2. Strong analytical and problem-solving abilities are essential for navigating settlement discrepancies and market-wide events. A keen understanding of the regulatory landscape governing OTC markets is critical. Excellent communication skills are vital for articulating complex issues to stakeholders and senior management. A bachelor’s degree in finance, business, or a related field is standard, with many professionals also holding advanced degrees or certifications like a CFA. For those seeking impactful and challenging jobs at the intersection of leadership, finance, and technology, the role of a Program Group Manager for OTC Settlements offers a rewarding career path with significant responsibility.
