Trade Accounting / Reconciliations recruitment

TRADE ACCOUNTING:

The Trade Accounting group is responsible for daily reconciliation of balance sheet accounts related to securities trading and fee accruals.  Trade Accounting works with other functional groups in Operations, Finance and IT to ensure trades and fees are booked correctly and are properly reflected in the general ledger.

Responsibilities

• Analyze balance sheet accounts that relate to daily trading activity.  Investigate and resolve any discrepancies between G / L and source systems.

• Review and ensure all syndicate accounting flows are in agreement with securitization activity and reconciled to Product Control PL. 

• Monitor and update all syndicate fee and expense accruals to subsequent cash flows. 

• Complete month end close ensuring that all related balance sheet accounts are reviewed and any necessary month end adjustments complete. 

• Analyze all broker activity (repo, swap, etc.) between month end invoices and firm accruals.  Identify and resolve all differences. 

• Determine proper journal entries for Trade Accounting and Operations teams.

• Monitor and coordinate with Funding team all firm inter-company balances.  Prepare all inter-company wires as needed.

• Calculate and record to books and records all fee related accruals.  Ensure all cash flows are settled accordingly.

• Document procedures, resolve underlying issues, and coordinate the modification of procedures with manager as needed.

• Suggest, design, and implement technology solutions.

• Implement and maintain control environment for Trade Accounting Operations.

RECONCILIATIONS:

Responsibilities

•   Analyze and balance the firm’s books to the bank statements relating to all security and cash settlements (relating to all firm products, multiple entities and currencies).

•   Analyze and balance the firm’s books to the broker and exchange statements relating to all security and derivative activity and settlements (relating to all firm products, multiple entities and currencies).

•   Determine proper position reconciliations to bank statements and broker statements. Research position differences and resolve discrepancies.

•   Interpret trade documents to identify discrepancies. Identify, research, and resolve money differences, position, and balance outs on related reconciliations. Determine the appropriate prioritization to reduce risk.

•   Coordinate with various departments and external contacts to resolve discrepancies. This includes Repo Desk, Treasury, Funds Control, Clearance, London office, clearing bank, and counterparties.

•   Balance all reconciliations to the General Ledger.

•   Respond to inquires from the Federal Reserve Bank; coordinate and analyze all data for response.

•   Create monthly reconciliation package identifying all significant reconciliation items for top side journal entry processing. Coordinate efforts with Financial Reporting to ensure proper balance sheet categorization.

•   Extensive interaction with Government, Mortgage Backed, International, Derivative, and Futures trade processing teams.

•   Extensive interaction with Finance Desk, Sales Assistants, Credit, Regulatory, Financial Reporting and various Operation teams.

•   Extensive interaction with clearing banks, customers, and brokers.

•   Suggest, design, and implement technology solutions.

•   Implement and maintain control environment for Reconciliation and Control Operations.

•   Participate and implement industry initiatives.

Requirements

•    Bachelor’s degree required (Finance or Accounting preferred).

•    Proficiency with Microsoft Office applications required.

•    Knowledge of the securities industry.

•    Knowledge of accounting principals (general ledger, bal sheet, writing journal entries)

•    Prior reconciliation experience

•  The candidate must possess strong problem solving skills.