Global Market Operations/ Slab Securities Settlements

Role & responsibilities

Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) and positions registered in the books under CIB ITOs mandate, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.

Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope.

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
• 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

Direct Responsibilities

• Responsible for the settlement of Security transactions & associated products booked in Back Office system, on a timely and cost effective basis
• Ensuring all trades are instructed, matched & settled on a timely basis
• Monitoring of failing trades
• Reducing fails and/potential fails by means of pairing off or patriating down deliveries
• Minimizing fails by means of partial deliveries where possible
• Pre-matching trades in a daily basis
• Cash Management related with funding trades
• 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 BO 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

Contributing Responsibilities

• Contribute to the minimisation of settlement costs & operational risk:
• By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate operational or reputational risk
• Monitors and take appropriate actions in case of market risks (buyins)
• 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 traders and sales 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.