Entry Level Correspondent Banking Jobs (NOW HIRING)

Job Title:

Senior Middle Office Risk Analyst - Global Markets Group

Location:

San Jose

What you'll do:

As a Senior Middle Office Risk Analyst, you'll help expand the Global Markets Group's Middle Office responsibilities for all products, Foreign Exchange (FX), Trade Finance/Letters of Credit (LCs) and Interest Rate Derivatives (Rates). The Global Markets Group (GMG) Middle Office and Business Risk Team is mandated to ensure conformance with all core requirements across all derivative types, both FX and Rates, as well as LCs, to include regulatory and control considerations for Western Alliance Bank's clients to be initially and continually eligible for our products, while maintaining and reviewing the governing documentation and reporting required at deal level. The position supports transaction validation, controls, reconciliation, reporting and business risk oversight across all 3 products of the GMG and partners very closely with both the Front Office (Sales and Trading) and the Back Office (Operations) to facilitate exception resolution, transactional accuracy and overall control framework.

• Reporting and maintenance of monthly/regular statistics and revenue for all of Global Markets but specifically to expand the support and assistance of the Interest Rate Derivative (IRD) and Trade Finance (L/Cs). These expanded responsibilities will include: Working with the Treasury's Funding Desk and IRD team, assist in completing and independently audit files and folders for new IRD transactions, investigate and resolve settlement discrepancies including Cap premium payments to dealer/from client to ensure proper, final settlements, Termination settlements (similar to cap premium payments), Manual (dealer) wires for interest settlements, ACH payment research and resolution, review and send client valuation statements, reconcile dealer confirms and coordinate signatures. Working with the Trade Finance team, Quality Control on Trade and L/C fees/transactions, Audit confirmations from external audit firms, Prepare and send Monthly Trade Finance Customer report to AML team.
• Provide support to FX Back Office when necessary. Directly assist the GMG's Director of Business Risk and Middle Office as well as the Director of Platforms and Strategy when required to gather information or liaise with external teams for new/modified or general risk and control initiatives. More specific responsibilities to include: system administration of our systems of record and other supporting applications including our bank partners' portals and Swift gateway, maintain and assist with all CRM Middle Office cases, assist with testing all application upgrades and hotfixes. swift RMA maintenance, assist in staging, set-up, or amending bulk files/requests of FX trades and/or settlement instructions. Oversee currency and currency pairs, client spread/pricing/margins administration/setup in the FX application. Evaluate Correspondent bank data, including possible netting. Setup maintain and reconcile Clients' Multi-Currency Account/Vostro (MCA) in the FX system of record. External Audit confirmations from clients and counterparties.
• Maintain and assist with Weekly, Monthly and Quarterly reporting: Nostro Investigation Log, Client Credit and Mark-to-market reports, Vendor Invoice processing and research, Regulatory reporting, Key Risk Indicators (KRIs) and general Risk updates for all GMG products, Critical Spreadsheet maintenance, as well as any ad hoc audit reporting and mitigation, Support regulatory trade reporting

What you'll need:

• 2+ years of related experience in Treasury, Middle Office or similar field or similar field.
• Bachelor's degree in related field required.
• Entry level to intermediate knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
• Entry level to intermediate knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
• Intermediate to advanced familiarity with artificial intelligence tools and related concepts (NLP, ML, LLM, Agentic AI, generative AI, NN) preferred. Bonus if candidate has applied experience with AI adoption and AI-driven transformation in a markets/finance/investments/banking setting.
• Advanced spreadsheet experience (Excel/Sheets/Smartsheet/etc.) including macros and advanced formulas preferred. Business intelligence and CRM familiarity: PowerBI/Tableau and Dynamics/Salesforce/Hubspot/etc preferred. Database management experience including SQL proficiency preferred.
• Advanced speaking and writing communication skills.
  

Compensation: Salary range for new hires is generally $107,885.00 - $133,268.00 for San Jose, CA. Salary amount is determined by specific job location. In addition, the role may be eligible for annual bonus/incentives earned and restricted stock.

Benefits you'll love:
We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!

About the company:

Western Alliance Bank, Member FDIC, is a wholly owned subsidiary of Western Alliance Bancorporation. Serving clients nationwide, Western Alliance Bank includes six legacy bank brands - Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank - that remain part of the company's heritage, as well as AmeriHome Mortgage, a Western Alliance Bank Company.

Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.

Western Alliance Bancorporation