Reconciliations And Trade Settlement

Cash Reconciliation - Trade Settlements (Capital Market)

The Settlements analyst to Affirm / confirm cash settlement for executed deals with the various counterparties

Transmit cash instructions to custodians, administrators and other relevant third parties

Liaison with custodians, administrators, counterparties, Middle Office and Trade Documentation teams to resolve affirmation / confirmation discrepancies and / or settlement failures

Supporting multiple regions i.e., Toronto, London, Ireland, New York, and Asia Pacific for various business lines including FX, Derivative Products, Security Settlements, Money Market, Collateral, Futures, Lending Services and Finance

The candidate will also work with IT and management to improve systems and processes with a view to constantly improving controls and efficiency

The associate should be enthusiastic, dynamic, flexible, client service orientated and focused on control, accuracy and maximizing efficiency

Responsibilities

Timely and accurate reconciliation of the Bank’s cash accounts held at other Banks and internal Inter Branch Accounts in strict compliance with Bank standards and regulatory requirements

Actively pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk

Maintain and exchange static data and settlement instructions for all legal entities

Perform upfront/ termination/ and exercise fee settlement and reset and roll calculations for relevant OTC deals as required

Promptly identify, track and settle all outgoing and incoming payments

Analyze the breaks triggered due to booking issues, settlement issues and resolve in quicker manner

Monitor the data feed for position reconciliation, identify the gaps, perform root cause analysis, and update the relevant stakeholder for faster resolution.

Skills / Requirements

Investment Operational experience in OTC Derivative products, preferably with experience in a Trade Settlements and reconciliation for equity derivatives, commodities, credit, futures, and foreign exchange (FX) products.

Drafting, Confirmations, Affirmations, Settlements and or Middle office exposure.

Contributes to the effectiveness of the team by working closely with colleagues by sharing information, skills, and responsibilities

Experience with Microsoft Office, TLM, BESS, PEGA

2+ years of work experience in the above listed products.

Education and Experience

Bachelor’s degree in Finance, Accounting or related discipline. M.com, MBA in finance or accounting preferred

1-3 years of Reconciliation and Accounting Background Experience

Ability to understand business language and translate into technical terminology