Trainee Equity Settlements recruitment
Position Summary:
The business line is client focused and service driven. The position involves;
Equity Settlements
- Responsible for the timely settlement of transactions in the Equity Settlement Department
- Identifies and resolves problems following company procedures and within the appropriate time frame
- Identifies and resolves workflow issues and liaises with other internal departments where appropriate with regard the resolution of outstanding issues ensuring that immediate supervisor is kept informed of arising issues
- Assist management in the implementation of policies and procedures
Cash Management
- Responsibility for the calculation of the predicted cash funding requirements for all currencies
- Execution of MM deals to optimise all cash accounts liquidity
- Reconciliation of predicted funding against external statements
- Preparation and analysis of all Cash Management MIS
- Investigation and process of funding related interest claims
- Nostro interest verification
Main Responsibilities:
Equity Settlements
- Liaising with external agents on specific transactions to ensure highest level of transactions settlement success
- Provide data to Cash Management team for funding of external agent accounts (accurately predict the funding requirement of Nostro accounts for the Cash Management team)
- Maintain stock and cash reconciliations in line with agreed targets (investigate and resolve exceptions)
- Provide feedback to immediate supervisor on specific transaction issues
- Liaise with Correspondents to resolve transaction/workflow issues
- Act as point of contact for external agents and counterparties to ensure settlement of transactions is completed
- Perform pre-matching with both market and client counterparties, as agreed with Correspondents
- Initiate new ideas and solutions to improve productivity, increase STP rates and provide cost saving initiatives
- Realignment of securities between different settlement locations
- Interaction with Bangalore Off Shored Operation
Cash Management
- Determine and calculate cash funding predictions for each nostro account in order to ensure both cash liquidity and cash optimisation
- Calculate and effect nostro cash transfer requirements within funding and payment cut-off times
- Transact and effect all funding payments ensuring that cut-off times are maintained
- Reconcile and investigate any funding process discrepancies allocating any funding errors to the relevant error codes.
- Prepare, send and check manual Swift MT320 Money Market deal confirmations
- Ensure all MT202 and MT210 cash instructions for Money Market deals and Nostro transfers are sent
- Update Cash Management system with market interest rates and agent interest rates daily
- Check and verify nostro agent interest statements and prepare bookings
- Investigation and resolution of Cash Management nostro reconciliation breaks/issues
- Manage daily Money Market netting process, where applicable
- Identify and where appropriate generate interest claims
- Process and resolve interest claims where appropriate
- Monthly “permanent supervision” balance substantiation process
- Prepare, analyse and report daily Cash Management MIS
- Interaction with Bangalore Off Shored Operation
- Position Descriptions that report into this Role – None
Degree of Autonomy / Level of Authority:
- Verify trades before they are authorised by Settlement Supervisor
- Funding decision on all accounts
- Input and verification on payments
Internal External Contacts:
- Bangalore Off Shored Operation
- External Agents on specific transactions
- Cash Management Team on funding requirements of external agents
- Immediate supervisor on specific transactions
- Clients and Correspondent on transaction / workflow issues
- Internal departments
Education:
- A level or above
Past Experience:
- Previous relevant experience of Global Equity Settlements
- Understanding of Cash Management / Treasury process
- Cash Payments and Treasury FX experience
CANDIDATE PROFILE
Languages:
- Fluent English
- Additional language skills are an advantage but are not essential
Technical Skills:
- Knowledge of front to back processing of transactions
- Some knowledge of Swift message formats desirable
Personal Abilities:
- Very strong time management skills
- Ability to prioritise tasks and work under tight deadlines
- Ability to multi task
- Adaptability to change
- Strong communication skills
May 19, 2011
• Tags: Equities careers in the UK, Trainee Equity Settlements recruitment • Posted in: Financial