Brokerage Analyst
UBS is a leading global financial services firm. Our Investment Bank is one of the world’s top global investment banking and securities firms, providing a full spectrum of products to institutional and corporate clients, intermediaries, government and hedge funds worldwide.
Exchange Traded Derivatives (ETD) and Listed Options Operations is responsible for the clearing and settlement of global futures and option trades on behalf of external clients and the Bank’s proprietary traders. UBS has very wide market coverage and clears client business on all of the world’s major markets. This contract role is within ETD / Listed Options Brokerage, specifically working within the Operation teams. The requirements within the Brokerage Group are to:
- Provide a consistent framework and high quality service whereby UBS pays (for clearing only trades) and collects (for execution only trades) brokerage in an efficient and accurate manner.
- Generate invoices for the collection of execution commission chargeable to a client.
- Validation and payment of commissions charged by brokers.
- Maintain an environment of strong business controls and transparent reporting.
- Partner with our internal and external clients to reduce risk and balance exposure and to streamline the processes in a cost effective manner.
The successful individual will be involved in a number of day to day (run the bank) tasks as well as contributing to key ETD / Listed Options projects including:
a) Exception management: Analyze processing of exceptions in brokerage receivables / payables transactions. Ability to analyze complex processes involving departments engaged in fees commissions; client services and trading/clearging; track actions and report progress.
– Liaise with respective teams
– Manage and maintain the relationships between offshore vendor and the operations line
b) Reconciliation: Conduct extensive break research and root cause analysis. Monitor the break level of reconciliation and perform the analysis to: (1) reduce the number of suspense / nostro breaks; (2) prevent aged break; (3) ensure the prompt resolution of breaks. Work with different groups within ETD / Listed Options (client service; trade management and fees commission) to ensure integrity of the books and records processing systems.
c) Review / approve brokerage related journal entries and cash payment requests.
d) Reconciliation: Build / enhance appropriate reconciliations to improve control environment and reduce risk exposure.
e) Reconciliation technology testing: Assume lead role in market driven initiatives where the firm compares trades with its counterparties in external exchange utilities such as GPS EGAINS and participate in IT testing of enhancements. Develop proficient skills in futures books records Sungard vendor system (“GMI”) and ADP.
f) Metrics / Offshoring: Manage offshore teams by monitoring KPI’s (key performance indicators) and SLA’s (service level agreements). Act as key escalation point of contact for all offshore processes.
g) Liaise with industry counterparties to improve cash collections / payables and reduce age profile of related balances.
h) Balance Sheet: Responsible for the accuracy of Global Balance Sheet Ownership and Verification (GBSOV) for brokerage division and to track and ensure the resolution of any exceptions. Oversee the delivery of time sensitive projects directly impacting the balance sheet.
i) Reporting: Gather data from multiple sources and interact with various groups within ETD / Listed Options Ops to prepare exception reports for senior management. Maintain “dashboard” to perform the analysis for: (1) the cause of inefficiency; (2) bottle neck in the process; (3) potential risk for capacity limit. Maintain and update capacity levels for the brokerage onshore / offshore teams.
j) Operational Risk Indicators: Review inventories relevant to ETD / Listed Options Brokerage Operations to ensure they are appropriately recorded / narrated.
Requirements:
- Graduate calibre or equivalent
- Must have previous experience of reconciliations, exposure to futures and options business areas and the ability to build relations outside of ETD / Listed Options and Operations
- Strong skills in use of MS Office products, especially PowerPoint, Excel and Outlook.
- Ability to work quickly and efficiently on multiple tasks at once
- Process Management skills - ability to analyse and make improvements to processes
- Able to quickly assimilate information and understand problems, processes and issues at a detail level
- Excellent organizational and communication skills
- Ability to converse with Clients.
We can offer you an exciting, fast-paced working environment, a culture of mutual respect and teamwork and the opportunity to play a vital role in our growth.
If you would like to work for a global organization where individual contribution counts and where your ambitions and abilities can make a difference, please apply for this position. It starts with you.
UBS is an equal opportunity employer. We respect and seek to empower each individual and the diverse cultures, perspectives, skills and experiences within our workforce.
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