Treasury Operations Analyst, Collateral Management

U.S. Bank

. Performs complex operational functions within derivatives collateral management, supporting portfolios governed by ISDA Credit Support Annex (CSA) and Initial Margin (IM CSA) agreements across a range of OTC and cleared derivative products.

Posted 5/19/2026full-timeTempe • Arizona, Minnesota • 🇺🇸 United StatesMid-LevelSenior💰 $60,435 - $71,100 per yearWebsite

About the role

Key responsibilities & impact

Performs complex operational functions within derivatives collateral management, supporting portfolios governed by ISDA Credit Support Annex (CSA) and Initial Margin (IM CSA) agreements across a range of OTC and cleared derivative products.
Serves as an experienced analyst with accountability for end‑to‑end collateral processes, operating with minimal supervision and exercising sound independent judgment.
Responsible for daily collateral margining activities, including variation margin and initial margin monitoring, reconciliation of exposures, issuance and validation of margin calls, settlement processing, and resolution of disputes.
Ensures accuracy and timeliness of collateral movements while adhering to contractual terms, regulatory requirements, and internal control standards.
Maintains and reviews collateral accounts, eligibility schedules, thresholds, minimum transfer amounts, valuations, and settlement instructions, ensuring alignment with governing documentation and internal systems.
Investigates and resolves breaks or discrepancies across statements, margin calls, and settlements, performing root‑cause analysis and documenting outcomes in accordance with audit and governance expectations.
Acts as a primary point of contact for counterparties, custodians, brokers, clearing agents, and internal stakeholders, responding to written and verbal inquiries and supporting complex or non‑standard collateral events such as disputes, substitutions, lifecycle changes, and documentation updates.
Escalates material risks, control issues, or unresolved exceptions in a timely and transparent manner.
Coordinates multiple workstreams simultaneously, prioritizing tasks to meet service‑level agreements and regulatory deadlines.
Contributes to process improvements, control enhancements, and procedural documentation, and provides guidance or informal mentoring to junior team members as appropriate.
Monitors, validates, and reports collateral pledged in support of government deposits at the state level, ensuring compliance with applicable state statutory requirements, custodial agreements, and internal treasury policies.
Reviews collateral sufficiency, eligibility, concentration limits, and valuation thresholds, and coordinates with custodians, treasury, and reporting teams to remediate deficiencies or excesses.
Produces and reviews periodic collateral reports for internal management, regulators, and state authorities, escalating shortfalls, breaches, or documentation gaps in accordance with established control and governance frameworks.

Requirements

What you’ll need

Bachelor’s degree, or equivalent relevant work experience
Three to five years of experience in operations, collateral management, or a related financial services function
Strong working knowledge of ISDA CSA and IM CSA frameworks and collateral lifecycle management
Experience supporting OTC and/or cleared derivative products and associated margining methodologies
Solid understanding of collateral settlements, reconciliations, dispute management, and operational controls
Proven analytical, problem-solving, and decision-making skills with strong attention to detail
Ability to independently manage priorities, deadlines, and complex exception scenarios
Excellent interpersonal, verbal, and written communication skills
Working knowledge of banking and financial markets operations.

Benefits

Comp & perks

Healthcare (medical, dental, vision)
Basic term and optional term life insurance
Short-term and long-term disability
Pregnancy disability and parental leave
401(k) and employer-funded retirement plan
Paid vacation (from two to five weeks depending on salary grade and tenure)
Up to 11 paid holiday opportunities
Adoption assistance
Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

collateral managementmarginingreconciliationdispute managementoperational controlsISDA CSAIM CSAOTC derivativescleared derivativescollateral lifecycle management

Soft Skills

analytical skillsproblem-solvingdecision-makingattention to detailindependent managementprioritizationinterpersonal skillsverbal communicationwritten communicationmentoring