Scott Caruso
Cheshire,CT
Summary
Accomplished Finance Professional with over 18 years of experience in Treasury Operations and Financial Analysis. Specialized in trade settlements, leveraging advanced Excel for comprehensive data analysis, and driving strategic planning initiatives. Adept at cultivating cross-functional partnerships to provide pivotal business insights and support informed decision-making.
Overview
19
19
years of professional experience
Work History
Senior Settlement Analyst
Empower
01.2023 - Current
- Global Administrator of a $30-billion private placement portfolio across US, Canada, & UK, achieving seamless deal completion by coordinating with the deal analysts, internal/external counsel, and the regional operation teams.
- Ensure internally executed trades flow properly from the Trading System to the Accounting system. Confirm trades with counterparties.
- Notify custodian banks of pending trade settlement and ensure that trades settle properly.
- Trade responsibilities may include the more complex transactions such as processing and tracking TBA’s & dollar rolls.
- Enter daily trade activity, including subadvised trades, into the accounting system. Trade activity includes but is not limited to domestic and foreign securities trades and exchange traded and OTC derivatives.
- Perform team support role, including process improvement, testing system upgrades and enhancements, developing trade messages for accounting system, and working with outside vendors for sub advised trade loads.
- Review trades and security setups from the team, to ensure accurate processing.
- Process swap payments, communicating and confirming payment details with counterparties prior to settlement.
- Fund new private placements, communicating with GWLA’s traders and legal group.
- Coordinate and process forward foreign currency contract settlements with multiple counterparties.
- Support the Manager, Settlements with resolving complex trade settlement issues, assisting in training new personnel and taking on additional duties as assigned.
Treasury Analyst
American Challenger Development Corp
04.2022 - 12.2022
- Assisted in development of a turn-key digital banking technology and operations platform, which was preparing to launch a national retail deposit, lending and commercial operation.
- Cloud-based, proprietary technology generating significant operating efficiencies, allowing banks to significantly reduce the cost-to-income ratio for digital operations.
- Bank merge was terminated company put up for sale
Senior Treasury Accountant, AVP
Webster Bank, N.A
01.2021 - 04.2022
- Managed the input & maintenance of Interest Rate Swap derivatives, including trade affirmations, confirmations, distribution of reset notices, and providing market valuations for customers
- Responsible for confirmation of the net settlement amount of foreign exchange (FX) contracts, as well as the settlement of the USD or foreign currency portion of the transaction executed with the FX counterparty
- Prepared documentation and note disclosures relate to FX and swap derivatives for required SEC/FDIC reporting
- Steering Committee member for LIBOR Working Group, entailing active engagement with vendors to identify replacement rates and conventions, update contract documentation, and test application updates.
- Prepared weekly, monthly, and quarterly reports for senior management regarding cash position, banking activities and investments.
Senior Financial Analyst, AVP
Webster Bank, N.A
08.2015 - 12.2020
- Implemented and maintained Funds Transfer Pricing (FTP) methodologies for monthly Actual Profitability Reporting for bank’s loans and deposits
- Researched and communicated unexpected FTP results to key business partners
- Analyzed loan and deposit cash flow projections to measure the impact of FTP on forecasted long-range plans
- Directed the monthly capital allocation – a KPI used to determine economic profitability and underlying return on assets - to respective lines of business based on their assets and deposits
- Calculated forecasted capital allocation for long-range planning based on projected growth of loans and deposits
- Maintained the calculation of Economic Loan Loss and communicated the monthly accrual to each respective line of business, while including updated calculation of the Economic Loan Loss in the bank’s long-range plan
Treasury Accountant, Officer
Webster Bank, N.A
11.2010 - 07.2015
- Responsible for processing all book entry security settlements with FED or DTC and subsequent P&I collections, valuations, and associated accounting entries
- Coordinated with Funding department to manage a variety of instruments, which includes settling all transactions, ensuring timely interest payments, and overseeing required collateral activities
- Prepared all required documentation for regular SEC/FDIC reporting for all Treasury products
- Input and maintained all IR Swap derivatives, which include trade affirmations, confirmations, updating LIBOR rates, mailing reset notices, and providing market valuations for customers
- Supported the Treasury Sales division by providing timely documentation to support monthly settlements, valuations, and accounting entries related to derivative products
- Established procedures for internal controls, documentation, and financial reporting in compliance with newly issued Dodd-Frank requirements
- On-boarded Webster Bank with DTCC, Markit, and TriOptima for Swap Reporting & Reconcilement
- Interfaced regularly with IT partners, Treasury partners, and both internal and external accounting partners (including with the Company’s Big Four auditors).
Staff Accountant
Webster Capital Finance
04.2006 - 11.2010
- Posting and reconciling various general ledger activities
- Timely reporting of sales/use tax, property tax, and license renewals in all 50 states
- Compiling monthly financial packages for the Divisional managers
Education
Master of Business Administration - Finance
University of Hartford
West Hartford, CT12.2012
Bachelor of Science - Business Administration, Finance & Marketing
Fordham University
Bronx, NY05.2005
Skills
- Cash Reconciliation
- Financial Analysis
- Treasury Operations
- Security Settlement
- Interest Rate Derivatives
- Wire Transfers
- Private Placements
- Alternative Investments
- Bank loans
- Banking
- Outlook
- Microsoft Office
- Microsoft Excel
- Teamwork and collaboration
- Reliability
- Effective communication
- Analytical thinking
- Written communication
Timeline
Senior Settlement Analyst
Empower
01.2023 - Current
Treasury Analyst
American Challenger Development Corp
04.2022 - 12.2022
Senior Treasury Accountant, AVP
Webster Bank, N.A
01.2021 - 04.2022
Senior Financial Analyst, AVP
Webster Bank, N.A
08.2015 - 12.2020
Treasury Accountant, Officer
Webster Bank, N.A
11.2010 - 07.2015
Staff Accountant
Webster Capital Finance
04.2006 - 11.2010
Bachelor of Science - Business Administration, Finance & Marketing
Fordham University
Master of Business Administration - Finance
University of Hartford
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