Social network you want to login/join with:
The Settlements team is responsible for supporting a multitude of Fixed Income and Cash Equity broking desks in several EMEA locations, performing a variety of Settlement Middle office tasks to ensure timely and accurate matching of trades within a controlled environment. The team settles principal bond, equity & money market instruments (CDs, Commercial Paper, notes) trades via Euroclear or in 30+ local domestic markets utilizing an agent bank network (BNY Mellon, BNP Paribas, Deutsche Bank etc). The company has no trading position or portfolio, and so we deem this ‘Matched Principal’ (buys & sells are matched exactly), which is also sometimes called turnaround trading. ICAP has a small stock loan business processed by the Settlements team, which can be a manually intensive task. Additionally, this team manages corporate actions (mainly coupon & dividend payments) arising from the principal trading.
The main function of the team is to ensure that all trades are matched with clients so that the purchases & sales settle on time with zero cost to the company, as trade sizes are very large & carry associated risks. The team also undertakes nostro & depot reconciliations for the associated accounts. Most staff work from 8 am to 5 pm; however, we require some coverage from 7 am until 8 pm to cover US settlements. The team implements a limited shift rota to cover these extended hours.
Role Responsibilities
1. Timely matching of trades and resolution of any exceptions on the same day.
2. Validation of front office amendments/cancellations where necessary.
3. Provision of first-line support to brokers for any settlements queries.
4. Escalation of any issues (where necessary) to management.
5. Collaboration with peripheral teams to ensure the data is correct to support the trade flow.
6. Daily review of cross desk trading to ensure a flat book and escalation of any residual balances.
7. Maintaining and clearing exception queues in a timely and efficient manner.
8. Daily reconciliations are performed and exceptions that arise are resolved.
9. Providing support on any relevant project, under the direction and oversight of your Manager.
10. Working with the team manager to fulfill the implementation of any necessary changes within the Settlements function in relation to regulatory and business requirements.
11. Providing support for any internal or external audits as required.
12. Supporting our Technology teams in technical developments, including UAT and post-release support.
13. Fulfilling any additional or ad hoc duties as required to meet the needs of our business.
Experience / Competences
1. Demonstrates excellent attention to detail, possesses high organizational skills & a proactive approach.
2. Demonstrates strong analytical ability and problem-solving skills.
3. Demonstrates the ability to work effectively in a high-pressure environment.
4. Highly effective written & oral communication skills; adapts communication style to suit the audience.
5. Shows evidence of being comfortable working in fast-paced or pressured environments.
6. Skilled in Microsoft applications software (Word, Excel, PowerPoint, Outlook).
7. Knowledge of financial markets.
8. Previous experience in a similar organization.
#J-18808-Ljbffr