Settlements Associate Job Description
Settlements Associate Duties & Responsibilities
To write an effective settlements associate job description, begin by listing detailed duties, responsibilities and expectations. We have included settlements associate job description templates that you can modify and use.
Sample responsibilities for this position include:
Settlements Associate Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Settlements Associate
List any licenses or certifications required by the position: CPA
Education for Settlements Associate
Typically a job would require a certain level of education.
Employers hiring for the settlements associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Finance, Business, Economics, Accounting, MBA, Mathematics, Financial Services, Engineering, Management, Business/Administration
Skills for Settlements Associate
Desired skills for settlements associate include:
Desired experience for settlements associate includes:
Settlements Associate Examples
Settlements Associate Job Description
- To provide support and information regarding trade queries to the Middle Offices and their trading personnel
- Some asset servicing and cash management functions
- Help set strategy and direction for tech and workflow initiatives that will improve settlement accuracy and efficiency
- Daily Monitoring and managing of cash settlement process for Bulk and/or Bullion Business
- Liaison with precious metal depositories on Bullion deliveries and resolving any discrepancies
- Drafting and preparation of client invoices
- Liaison with Customers on settlement discrepancies and/or any ad-hoc queries
- Building and reviewing structured settlement excel models
- Reconciliation of customer account balances and control reports, providing timely resolution of breaks
- Drive projects enhancements and system build outs relating to the Physical Business
- Proficiency in MS Excel and MS Access, including the design and implementation of macros preferred
- Excellent desktop and analytical skills
- Strong settlement product knowledge (FID, Equity, FX, Commodities)
- Maintain effective working relationships with Front office Trading and Sales, Legal, Compliance, Credit, Technology and other Operational areas in London and globally through daily interaction
- Maintain and review Procedures and controls and ad hoc production of metrics as requested
- Participate in ongoing development of the Global Settlements team procedures & processes required to support our developing business
Settlements Associate Job Description
- Operational support for Crude and Refined Products, both Physical & Financial
- Generating ISDA Confirmations, and other Trading Agreements
- At least 2 years settlement experience
- Be familiar with CCASS / DCASS
- Have knowledge on HK listed warrants & e-submission (Daily Trading Reporting) will be in advantage
- Work very closely with other regions counterparts to carry out the projects / initiative
- Requires the ability to follow general instructions in the completion of multiple procedures
- Portray a high level of knowledge of DTCC and its various functions
- You will focus on the EMEA securities markets, working closely with other Operations groups, managing key day-to-day relationships with our network of agent banks, internal trading desks desk, external brokers and clients with a strong emphasis on risk management and control
- The role will involve mitigating financial and reputational risk for the firm and our clients by ensuring that securities transactions are settled efficiently and on time
- Experience working with Shell Scripts
- Finance Domain experience is an added advantage
- 1-4 years of work experience in Unix, Sql
- Financial Domain knowledge will be a preference
- Working knowledge of ISDA documentation
- Strong problem solving skills with the ability to prioritize tasks while maintaining a high level of accuracy and a low tolerance for error
Settlements Associate Job Description
- Understand and implement internal and external regulations
- Assess market changes and present the impacts/recommendations to management
- Review control reports to clear breaks, exceptions and escalate to senior management
- Help identify opportunities to improve settlement accuracy, efficiency and the risk profile
- Prepare to gain a comprehensive understanding of the trade lifecycle and associated cash flows by interacting with trading and sales in addition to middle office, treasury and valuations
- Handle Order & Trade Settlement to Cash (OTSC) activities, which includes invoicing and billing, handling customer credits, performing cash applications, handling collections and dispute management, customer data maintenance and other period end close processing activities
- Build and maintain relationships with BU partners
- Developing relationships with external brokers to drive sales
- Work with External Wholesalers to cultivate sales
- Pricing SS contracts to produce new business
- Experience within Investment Banking Operations
- Strong, confident communication skills with a proactive approach
- Risk Management & Controls knowledge
- The ability to adapt in a progressive, developing environment
- The ability to partner with a variety of diverse groups
- Approaches all situations with positive outlook, solutions orientated and enthusiasm
Settlements Associate Job Description
- Marketing SSA and Attorney fee products
- Learning to utilize effective negotiation techniques in resolving problems to enhance brokers’ acceptance of company/product
- Some travel required (attending certain Broker/Industry meetings and select office visits)
- Calculate and reconfigure interest settlements for derivative products
- Confirm incoming and outgoing payments with internal and external parties to ensure proper fund delivery
- Facilitate cash movements on a daily basis
- Proactively monitor and resolve aged settlement breaks
- Perform daily reconciliations of internal systems
- Provide ongoing interaction with other Operations groups
- Coordinating with external clients to ensure timely execution of confirmations and resolve all outstanding queries on documentation
- Investigate and resolve settlement and payment exceptions
- Investigate and resolve post settlement internal and external breaks
- Prepare payment and trade instructions and release to custodian banks
- Escalate/report and mitigate risks associated with the settlement process
- Manage vendor team remotely, oversight their work and give guidance on the escalated items
- Deliver quality service and solutions to their evolving business requirements
Settlements Associate Job Description
- Liaising among trading desks, prime brokers, counter-parties and exchanges to resolve breaks and open reconciling items to ensure timely settlement
- Processing trade corrections and managing pre-settlement confirmation process in DTC, CNS and international markets for all types of listed securities
- Taking responsibility for orderly settlement of high-volume trading accounts, both for firm trading accounts for executions on behalf of firm customers
- Resolving fails with Prime Brokers after settlement date
- Cross-training with other areas within Clearing and Settlements
- Keep up-to-date with regulatory change and participate in industry forums
- Realignment to new CSS Ops Org Structure – Realign functions from other teams within and outside of the Business unit
- Establish New Controls for CSS Ops – Partner with Technology to design, build and operate effective controls in a STP environment
- Provide status reporting to the client, internal teams, and third party vendors
- Review reconciliations and work with the relevant parties to resolve breaks in a timely fashion
- Client service - demonstrated client service focus and ability to build relationships across different levels, functions and regions
- Creativity/Innovation - leads by example to challenge status-quo and looks for new ways to improve current processes and procedures
- Experience - securities product/market knowledge and job experience in operations is preferred
- Cash Settlement systems are responsible for processing and reporting on all Cash transactions, with technical challenges including low latency/high volume data feeds, multi-dimensional aggregation & presentation, strong transaction management for absolute data integrity, and effective fault-tolerance for maximum availability
- Knowledge of mainframe systems (Cobol, Natural Adabas) for integration of legacy systems
- Knowledge of HTML5, AngularJS and CSS