Position Purpose Primary responsibilities of the team includes:
Ensure timely settlement of DTCC transactions
Ensure timely settlement of Euroclear transactions Daily monitoring and resolution of Loanet contract compare breaks
Process Loanet same day trade closeouts
Monitor / resolve breaks, dks, and nostro rec items
Settlement / resolution of DTC coupon & redemption items
Mitigation 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
Acting as a first level escalation contact, it is essential for this role to ensure the team deliverables are met and issues are highlighted to the appropriate groups and stakeholders in a timely manner.
Responsibilities
Key Responsibilities:
- Responsible for the FI settlement , on a timely and cost effective basis by:
o Ensuring all trades are instructed, matched & settled on a timely basis
o Monitoring of failing trades & updating calypso with details of reason for fails
o Reducing fails and/or potential fails by means of pairing off or offering partial for deliveries
o Pre-matching trades on a daily basis
o Cash management related with funding trades
- Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:
o By investigating and where possible, clearing all nostro breaks reported by Securities Control teams
o By investigating and where possible, rectifying all depot breaks on a timely basis reported by Securities
o Control teams
o By investigating and solving accounting breaks raised by Securities Control & Accounting teams
- Contribute to the minimisation of settlement costs & operational risk:
o By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate
o operational or reputational risk
o Monitor and take appropriate actions in case of market risks such as buy-ins, penalties etc.
o By seeking to improve STP rates at our custodians thereby reducing cost
o By updating static data as and when necessary
o By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules
o If necessary, using the escalation process when operational risk is detected
- Contribute to the overall successful running of the settlement department:
o By maintaining close relationships with traders and sales and escalating problems to them promptly where required
o By maintaining good working relationships with domestic agents and custodians
o By communicating with and assisting, other operational departments where needed
o Ensuring direct Managers are kept informed of any potential problems & issues where appropriate and to the Client relationship management on the whole Security Post-Trade Processing area in coordination with CIB CLM OCRM e.g. meetings, investigations, surveys.
o Contribute to ensure all required materials such as procedures, SOP, Skill Matrix, trainers identified, are updated.
o Raise to the management / project teams any dysfunctionality during the course of BAU
o Actively contribute to UAT testing where necessary and engage in training and coaching the new joiner
Core competencies:
o Management skill
o Problem solving skills
o Good communication skills and strong client focus
o Multicultural awareness
o Risk awareness and attention to detail
o Analytical and result oriented
o Strong organization skills and rigorous
o Ability to perform multiple tasks and meet established deadlines, in a fast pace work environment
Experience Required
Minimum of 7 years experience
Amer Support
Skills Referential
Behavioural Skills : (Please select up to 4 skills)
Ability to deliver / Results driven
Ability to collaborate / Teamwork
Communication skills - oral & written
Ability to share / pass on knowledge
Transversal Skills: (Please select up to 5 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
Experience Level :
At least 7 years
