Commercial Derivatives Analyst

As a Commercial Derivatives Analyst you will report to the Chief Commercial Banker of WAFD and assist the commercial teams in executing interest rate swaps and derivative transactions. You will be responsible for assisting in the preparation and review of swap documents and participating in trade executions.

The ideal candidate will have a strong background in finance, excellent quantitative skills, and a strong understanding of interest rate derivative products. You will collaborate closely with teams such as data, finance, and operations to provide insights that contribute to strategic planning and operational improvements with the derivatives product line. Along with the key functions listed below, the selected applicant will be expected to uphold the value that WAFD places on simply being kind when servicing our co-workers and its clients.

KEY FUNCTIONS:

• Assist in obtaining derivative exposure, DV01 (value per basis point), target markup of the interest rate swap or derivative, and answers regarding the borrowing entity and guarantor related to their eligibility (ECP – Eligible Contract Participant)
• Work with commercial teams to prepare swap documents, and review for proper collateral description, signature blocks, guarantor information and other legalities.
• Review and help prepare: ISDA Master Agreement, ISDA Schedule, ECP Certification, Acknowledgement Letter, End User Exemption Form, LEI Third Party Authorization.
• Help Loan Servicing confirm that the swap and loan documents are compatible and that the swap will work as intended.
• Help ensure the terms of the swap and exposure match what is in the approved Credit memo (collateral, guarantors, index, and so forth).
• Participate in Trade Executions and assist in reviewing the process for accuracy and completion.
• Perform scenario analysis and stress testing to assess potential impacts on the bank’s portfolio.
• Analyze market trends, economic indicators, and interest rate forecasts to support decision-making.
• Collaborate with the credit risk management team to ensure compliance with regulatory changes and communicating that to the Chief Commercial Banker.
• Engage with external parties, including counterparties and financial analysts, to gather market intelligence and insights.
• Assist in developing quantitative models to evaluate interest rate derivative strategies for the commercial bank.

Protect WaFd’s Assets:

• Adhere to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act, and OFAC regulations. As required, accurate preparation of Currency Transaction Reports, Suspicious Activity Reports, and other recordkeeping requirements.
• Complete and pass all assigned eLearning courses and certifications as required.
• Avoid all real or perceived conflicts of interest and always maintain privacy and confidentiality.

Perform other job duties as assigned.

Education:

• Bachelor’s degree in Finance, Economics, Mathematics, or a related field. Advanced degree or relevant certifications (e.g., CFA, FRM) preferred.

Experience:

• 2-4 years of experience in financial analysis, risk management, or trading, with a focus on interest rate derivatives.
• Experience with quantitative analysis and financial modeling is essential.

Skills:

• Knowledge of interest rate derivatives, including swaps, options, and futures.
• Strong analytical and quantitative skills, with proficiency in Excel.
• Familiarity with trading platforms and risk management tools.
• Excellent communication skills, both written and verbal, with the ability to present complex information clearly.
• Strong attention to detail and the ability to work under pressure in a fast-paced environment.

At WaFd Bank you get all of these great benefits!

• Paid time off for vacation, sick days and holidays
• Health insurance
• Stock options
• Bonus programs
• Generous 7% 401(k) employer matching*
• Paid Parental Leave
• Life and AD&D insurance
• Long-term disability
• Tuition Reimbursement
• Employee assistance programs
• Pre-tax health and dependent-care spending plans

WaFd Bank Benefits Summary - Click here for more information

We are committed to Equal Employment Opportunity and Affirmative Action. We recruit, hire, train and promote persons in all job titles and ensure that all other personnel actions are administered without regard to race, color, religion, sex, sexual orientation, gender identity, military and/or veteran status, or disability in accordance with Executive Order 11246, Section 503 of the Rehabilitation Act of 1973, as amended, and the Vietnam Era Veterans Readjustment Assistance Act of 1974, which require affirmative action to ensure equal opportunity in all aspects of employment. WaFd Bank does not discriminate on the basis of national origin or citizenship status as provided under the Immigration Reform and Control Act of 1986, or any other Federal or State legally-protected classes. WaFd Bank is committed to providing reasonable accommodations to employees and applicants with disabilities to the full extent required by the Americans with Disabilities Act (ADA). If you feel you need a reasonable accommodation pursuant to the ADA, you are encouraged to contact us at 800.324.9375

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