Our client, a global Investment Bank is seeking for an experienced Operations specialist to join their OTC Settlements Team.
The OTC Settlements Team is responsible for all aspects of settlement for FX, Commodities, Credit, Interest Rate, and Equity OTC derivatives trades post-booking. The position requires daily interaction with clients, global sales and trading desks, middle office and IT teams internally.
The group is divided into several teams by product and function, offering the fantastic opportunity to learn a variety of products and functions within the larger Settlements team. Each team is responsible for controlling risk by managing relationships with clients and counterparties to ensure that high risk settlements are settled in a timely manner and any post-settlement issues or discrepancies are identified, escalated appropriately and resolved.
The succesful individual will be expected to analyse and improve processes and avert risk. The team provides exposure to a multitude of financial products and will assist in establishing or further developing a career within Operations
Primary responsibilities will include the following:
* Ability to demonstrate strong organizational skills with keen attention to detail.
* Act as an escalation point for settlement issues and discrepancies with external counterparties, sales, and the trading desk, to resolve cash fail receivables and trial balances.
* Investigate and resolve complex settlements through various means, including daily interaction with key stakeholders, including trading desks, sales desks and middle office groups to ensure prompt resolution.
* Confirm correct settlement prices and ensuring trading systems are updated with correct pricing curves.
* Perform key settlement functions by creating payment vouchers and receivables invoices on a daily basis.
* Process early closeouts and novation of trades, as required.
* Acting as a process owner and being accountable for all outstanding items
* Developing and improving existing processes and reporting
* Working as part of the global settlements team to assist with development, testing & implementation of internal system changes
The candidate will be a team player who actively seeks to build effective relationships with peers and across groups, taking the initiative and actively contributing to the work of others other key skills will include:
* 5+ years of experience within settlement operations
* Bachelor's Degree - Analytical, financial or mathematically related preferred
* Strong interpersonal and relationship management skills
* Strong analytical, organizational, and verbal and written communication skills
* Proven ability to work efficiently and accurately under pressure in a fast paced multi tasking environment
* Proactive and self-motivated
* Strong Microsoft Excel and Access skills, including the design and implementation of macros preferred