Fedwire Settlements, VP
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Part of Group Technology Operations, Global Business Services (Operations) encompasses the people and processes that back up global deal-making. Every day, they make sure that billions of trades are settled, risk is minimized and clients are satisfied.
Job Description:
The Fed-Wire Settlements team at Deutsche Bank is responsible for one of the largest global fixed income securities participants in the industry. As a recognized Primary Treasury Dealer for US Treasuries, Mortgage Backed Securities (MBS) and Agency securities, Deutsche Bank commands a significant position in the market today.
The department is responsible for supporting trade confirmation and settlements of outright purchases and sales of US Treasuries, MBS, Agency products, repurchase agreements (repo), margin collateral, pair-off processing, FICC repo comparison, additional products, and all internal and external Audits.
Manage a large team in four locations (Jacksonville, Toronto, Jaipur and Bangalore) with direct supervision of the Jacksonville team and escalation/supervisory/monitoring responsibility of the other locations. Functions supported include; Clearance and Settlements, Cash Wire, FICC and Claims Utilities
Monitor, escalate and resolve all open issues, trade problems and unresolved disputes via direct interaction with trading assistants, traders/sales personnel, senior managers and external counterparties
Actively monitor industry initiatives and participate in working groups as needed, ensuring Deutsche Bank is properly prepared to meet the new regulatory and industry mandates required
Generate daily, weekly and monthly reports for senior managers and trading partners
Build and maintain strong working relationships with Compliance, Credit, Legal, Trading, Sales and external brokers and customers, understanding their needs and business requirements
Monitor all Key Risk Indicators (KRI’s) within the department and ensure all items are resolved within the agreed resolution periods
Facilitate management of staffing and headcount issues, manage relationships with external staffing vendors, interview and hire new staff, etc.
Hold weekly team meetings and periodic training sessions to communicate changes and initiatives to staff
Consistently seek opportunities through productivity reviews to improve processes, controls and procedures within the department
Partner with the "Change the Bank" (CTB) project team to develop requirements for system enhancements and assist with user acceptance testing
Work closely with technology teams to ensure that all system issues are escalated and resolved quickly, and that systems are utilized by the team to optimal efficiency
Partner with Human Resources and Training partners with staff development and career path
Ensure Business Continuity Planning (BCP) plans are properly prepared along with conducting periodic testing
Requirements:
Bachelors Degree (4 year) preferred in Business, Finance, Accounting or Economics combined with at least 15 years Fixed Income experience with 10 years of supervisory responsibility
Expert knowledge and proficiency in the functions supporting Fed Wire processing, with a basic understanding of DTC and Euroclear settlements
High degree of autonomy and proven track record of delivering change
Experience managing a team which supports multiple legal entities and is based in multiple locations
Strong problem solving and/or analytical skills
Strong relationship, leadership skills and excellent communication negotiation skills with good client focus
Excellent written and oral communication skills
Proficient in Microsoft suite of products including Excel, Word and PowerPoint
Ability to multi-task, work in a fast-paced environment and perform well under pressure
** At Deutsche Bank, we are proud to be an Equal Opportunity/Affirmative Action (M/F/D/V) employer **
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