
Associate Level 1
4 days ago
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
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
Responsibilities
Direct Responsibilities
- Responsible for the settlement of Security transactions & associated products booked in Back Office system, 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 partialing 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.
Technical & Behavioral Competencies
Ability to analyse, organize and report efficiently
Flexibility on working methods and changing international environment
Rigorous and reactive in order to face pressure and reach excellence anytime
Diligently follow the set procedures and Compliance policies
Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.
English speaker
Specific Qualifications (if required)
Skills Referential
Behavioural Skills: (Please select up to 4 skills)
Ability to deliver / Results driven
Ability to collaborate / Teamwork
Communication skills - oral & written
Attention to detail / rigor
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 anticipate business / strategic evolution
Education Level:
Bachelor Degree or equivalent
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