Role Overview
The Settlements team are responsible for supporting a multitude of Fixed Income and Cash Equity broking desks in several EMEA locations including performing a variety of Settlement Middle office tasks to ensure both timely and accurate matching of trades within a controlled environment.The team settle principal bond, equity & money market instruments (CDs, Commercial Paper, notes) trades via Euroclear or in 30+ local domestic markets utilising an agent bank network (BNY Mellon, BNP Paribas, Deutsche Bank etc).The company have no trading position or portfolio & so we deem this ‘Matched Principal’ (buys & sells are matched exactly) which is also sometimes called turnaround trading.ICAP have a small stock loan business which is processed by the Settlements team and can be a manually intensive task.Also in this team we have resource that looks after corporate actions (mainly coupon & dividend payments) that arise due to 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 undertake nostro & depot reconciliations for the associated accounts.Most staff work 8am to 5pm however we require some coverage from 7am and then until 8pm to cover US settlements.The team implements a limited shift rota to cover these extended hours.
Key Responsibilities
1. Timely matching of trades and resolution of any exceptions 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 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 any residual balances
7. The maintaining and clearing exception queues in a timely and efficient manner
8. Daily reconciliations are performed and exceptions that arise resolved
9. To provide support on any relevant project, under the direction and oversight of your Manager
10. To work with team manager, to fulfil the implementation of any changes necessary within the Settlements function in relation to regulatory and business requirements
11. To provide support for any internal or external audits as required
12. To support our Technology teams in technical developments, including UAT and post-release support
Experience & Competencies
Essential
13. Demonstrates excellent attention to detail, possesses high organisation skills & a proactive approach
14. Demonstrates strong analytical ability and problem solving skills
15. Demonstrates the ability to work effectively in a high pressure environment
16. Highly effective written and verbal communication skills; adapts communication style to suit audience
17. Shows evidence of being comfortable working in fast paced or pressured environments
18. Skilled in Microsoft applications software (Word, Excel, PowerPoint, Outlook)
Desired
19. Knowledge of financial markets
20. Previous experience in a similar organisation
Band & Level
21. Professional / 4
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