Business Line Specialist, Securities – Financial Institution Supervision recruitment
As part of its broker dealer and advisor services activities, this firm serves as one of the largest clearing agents of U.S. government securities. The firm manages roughly 80% of the U.S. tri-party business, administering over $1.7 Trillion in tri-party balances daily. In addition, broker-dealer and advisory services are also offered through this firm's affiliates.
Responsibilities
Business Line Specialists are responsible for understanding an institution's global custody/securities servicing business model. The specialist will identify and monitor internal/external risks to the business model, and maintain ongoing dialogue with business line management on how risks are being monitored and managed, including managements' ability to execute its strategy against those risks.
More specifically, the Specialist will be responsible for
- Developing and maintaining relationships with key business heads for relevant businesses and, through a regular dialogue, have a deep and nuanced understanding of the strategy and performance of the business they are tracking
- Identifying shifts in or deviations from the business line's stated strategy and the associated potential risk implications
- Assessing the competence of the business leaders they interact with
- Analyzing the macro and micro factors necessary to effectively monitor, investigate, evaluate and assess the following
- Business line's product set or strategy
- Financial / Business line performance metrics (i.e., revenue drivers, profits, balance sheets, risk weighed assets, and economic risk capital, earnings, margins, etc)
- Governance
- Client/ Relationship Management
- Risk Profile / Funding Liquidity Profiles of both bank and clients
- Strong Knowledge on Competitive External environment
- Operational and IT infrastructure
- Operational Credit Risk Management
- Monitoring and tracking metrics that measure performance against the firms' stated goals for the business
- Monitoring trends in new transactions and/or product offerings at the firm
- Maintaining a regular dialogue with other Business Line Specialists at other firms to develop a cross-institutional perspective
- Working closely with all relevant Risk Specialists to develop an understanding of the risks presented by the business they are tracking both at their assigned firm and from a cross-institutional perspective
- Collaborating with Risk Specialists to design and implement an appropriate plan to monitor, investigate, and evaluate the efficiency of the controls in place to manage the material risks
Skills
- Minimum of seven (7) years experience in global custody/securities servicing operations, and associated risk management practices
- Minimum of Bachelors Degree required; MBA preferred
- Experience should include, but is not limited to, the following operations and processes
- Processing income payments including dividends, interest, and principal payments
- Securities clearance and settlement
- Processing corporate actions; proxy voting
- Daily valuation of client securities held in custody
- Processing of security set up and maintenance
- Accurate posting and processing of trade files from multiple managers
- Trade execution of mutual fund orders
- Accurate processing of transaction and data imports from vendors, clients and business partners
- Corporate trust operations
- Processing tax reclaims
- FX (treasury), cash and liquidity management
- Fund Accounting
- Compliance monitoring and management
- Risk Control Self Assessment process
- Collateral monitoring and management
{i}This position requires access to confidential supervisory information, which is limited to 'Protected Individuals' as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.{/i}