Senior Clerk, Equity Finance Support recruitment
The primary responsibility of the role is to ensure all trades are booked correctly in the Front end systems and that they correctly feeds through to the various back office system to see they are correctly instructed to our custodians to settle on time. Also to ensure all exposures and substitutions are covered with our clients within the timeframe per the agreements.
EFS also monitor all collateral to ensure it falls in line with Bank’s standing orders and agreed client collateral schedules.
PRIMARY RESPONSIBILITIES
To ensure all Equity Finance clients and counterparties are fully collateralised and marked to market across all entities.
To ensure trades are sent to the relevant custodian, matched and settled within normal market conventions.
Cash payments, reconciliations (positions cash) are performed on a daily basis.
To assist with collateral projects and solutions to ensure the firms positions are fully optimised.
To ensure all client fees are calculated and settled in a timely fashion.
Ensure that all daily collateral monitoring has taken place and any rejected collateral has been reviewed and rejected where appropiate.
Monitor the daily stale price report.
Ensure the daily Repo exposure report is reviewed, clients are called for margin and exposures are covered and settled.
Monitor the rejected tri-party collateral and update Anvil accordingly.
Ensure all stocks with upcoming Corporate Actions (eg:dividends/maturity/conversions) are actioned (return/booked) promptly.
The RBC attestation policy should be adhered to by account preparers and all accounts accurately assigned with an appropriate attestation status within the month end timetable.
Where the policy or underlying reconciliation is not sufficiently understood this should be escalated to the approving manager or group head.
AUTHORITIES, IMPACT, RISK
Although the candidate will have no designated authorities in terms of budget / write off, the loss potential for the function can be considerable, both in terms of Financial loss, and reputational risk to RBCFG, and therefore future business.
The assignee must uphold the reputation of RBCFG and Global Operations at all times.
KEY RELATIONSHIPS
The successful candidate will report directly to the Supervisor of Equity Finance Support.
Liasing with Counterparties, Custodians and Clients on a daily basis.
Interaction daily with Front Office as well as other departments with RBCCM London.
WORKING CONDITIONS
The Equity Finance Support Group is a dynamic area, continuingly having to change and adjust processes in order to keep up with new trading structures and collateral solutions. With this in mind the candidate should be able to work well under pressure and perform a variety of tasks whilst paying attention to detail to continue to deliver a good service to our clients and front office.
EDUCATION /OR EXPERIENCE
Candidates should be educated to at least A level standard but preferably to degree level and have proven Equity Finance experience.
COMPETENCIES
Behavioural
To demonstrate a calm, logical approach to all situations
Be able to deal with Front Office and client demands
Be able to work well under pressure
Good attention to detail
Can work well as an individual as well as a team
Technical
Understand Equities, Fixed Income and basic trading strategies.
Good PC skills. Ideally knowledge of Euroclear, Anvil, Bloomberg and Tri-party agents.
Previous proven experience of developing STP solutions
A good understanding of cash position reconciliations.
Knowledge of Corporate Actions and the potential impacts if not handled correctly.