Position Purpose
Primary responsibilities of the team includes:
- Settlement of Security transactions and associated products in a timely and cost effective manner
- Timely resolution of nostro and depot breaks while working collectively with the team
- Working with the team to try & mitigate of operational and reputational risk by escalating in a timely and efficient manner
- Liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades
- Contribute and Lead Transitions
- Contribute and Lead to develop & propose ideas for a better partnership with Business and On-shore
- To deploy a Capacity Matrix covering the whole scope of processes within the perimeter
- Propose / Contribute / Lead some Organizational Transformation Streams
Responsibilities
Key Responsibilities:
1. Responsible for the settlement of Security transactions & associated products booked in Calypso, on a timely and cost effective basis by:
- Ensuring all trades are instructed, matched & settled on a timely basis
- Monitoring of failing trades
- Reducing fails and/or potential fails by means of pairing off or offering partials for deliveries
- Pre-matching trades on a daily basis
- Reduce level of errors / incidents - Proactively report errors / incidents & responsible for designing / implementing a Short term / Long term action plan with a systematic Root cause analysis in place. Ensure no errors impacting clients. Nil Incidents on Cash Outs and CCB''s.
- Responsible for procedures reviews & full coverage / description of the processes under management
- Responsible to implement an Daily EOD checklist Governance: Daily Follow-up, Monthly comments, reliability of records
- To ensure full adherence to SOP in place & appropriate actions are taken when deviations observed are showing a pattern
- To ease Controls of Controls & to provide & follow-up action plan
- To ensure BCP plan''s and BIA documents are upto date and covers a proper resilance strategy
- To ensure that audit/inspection findings and recommendations are put in place according to the audit description and closed in due time (0 overdue)
- Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:
- By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams
- By passing entries to the Calypso systems to clean up outstanding items on a timely basis
- By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams
- By investigating and solving accounting breaks raised by Securities Control & Accounting teams
- Escalating items that represent operational risk to the direct Manager
- Contribute to the minimisation of settlement costs & operational risk:
- To deploy a Capacity Matrix covering the whole scope of processes within the perimeter
- Propose / Contribute / Lead process reengineering
- Responsible to implement a strong governance vs IT (Support, Dev), Identify SPOC''s contacts & responsibilities & Project & Measure the efforts mobilized (Study, UAT), foster a ROI logic within the team
- Propose / Contribute / Lead some Organizational Transformation Streams
- Agility: Balance / Optimize resources usage in BAU with mindset of realistic commitment & transparency
- By seeking to improve STP rates at our custodians so reducing cost, by updating static data as and when necessary
- By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules
- If necessary, using the escalation process when operational risk is detected
- Contribute to the overall successful running of the settlement department:
- By maintaining close relationships with stake holders and escalating problems to them promptly where required
- By maintaining good working relationships with domestic agents and custodians
- By communicating with, and assisting, other operational departments where needed
- Ensuring direct Managers are kept informed of any potential problems & issues where appropriate.
- Contribute to ensure all required materials such as procedures, SOP, Skill Matrix, trainers identified, are updated.
- Raise to the management / project teams any dysfunctionality during the course of BAU
- Actively contribute to UAT testing where necessary and engage in training and coaching the new joiners
Technical & Behavioral Competencies:
- Management skill
- Problem solving skills
- Good communication skills and strong client focus
- Multicultural awareness
- Risk awareness and attention to detail
- Analytical and result oriented
- Strong organization skills and rigorous
Experience Required
Minimum of 7 years experience
Skills Referential
Behavioural Skills:
- Ability to deliver / Results driven
- Ability to collaborate / Teamwork
- Communication skills - oral & written
- Ability to share / pass on knowledge
Transversal Skills:
- Ability to understand, explain and support change
- Analytical Ability
- Ability to develop others & improve their skills
- Ability to develop and adapt a process
- Ability to inspire others & generate people''s commitment
Education Level:
Bachelor Degree or equivalent.
