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- Tasks: Join our team to manage Fixed Income Settlements and ensure smooth trade operations.
- Company: Be part of a global team at Commonwealth Bank, supporting diverse financial markets.
- Benefits: Enjoy competitive pay, career growth opportunities, and a collaborative work culture.
- Why this job: Make an impact in finance while developing your skills in a dynamic environment.
- Qualifications: 1-3 years in Fixed Income Settlements; knowledge of Murex and European markets preferred.
- Other info: Remote work options available; apply by 22/06/2025.
The predicted salary is between 36000 - 60000 £ per year.
About us: Market Operations is a Global team of 400+ Operations Professionals who support our Global Markets, Commodities, Structured Trade & Treasury businesses globally. Functions performed are trade confirmation/affirmation, settlement, reconciliation, and client data capture/maintenance, corporate actions (the front to back trade lifecycle) across FX, Fixed Income, Rates, Commodities, Carbon, Structured Trade, Derivatives and Loans. Market Operations also provides Middle and Back Office services including Collateral Management, Regulatory Reporting, Client Reference Data maintenance, Client Onboarding, KYC Refresh, Account Origination, Client Case Management, Estate Management, International Loan Administration & Operations, Trade Support, Confirmation services and Settlements/Payments.
Picture yourself in the team: The Fixed Income Settlements support the Commonwealth Bank’s UK, European and US portfolio of Global Markets. The core responsibilities include Settlement Pre-Matching, Settlement dispute and resolution, Communication with Buy Side/Sell Side Firms, Global Custodians, ICSD’s and CCP’s to ensure trades are matched to settlement finality, Fails Management, Reconciliations Resolution (Cash/Bonds). Given this will be a new build out, the Settlement function will be made up of 2 FTE that will sit with Market Operations teams reporting to the Head of Operations, Western Hemisphere, who is also based in London. Both positions are now available for hire.
Do work that matters: You will support all aspects of UK/Europe and US Bond related duties including:
- Trade validation of Fixed Income Products supporting the Cash/Repo Desks;
- Perform pre-matching of fixed income securities trades across Clearstream, Euroclear, CCP and Domestic Agents;
- Liaise with Brokers, Custodians, Clients, International Central Securities Depositories and CCP’s to resolve unmatched or failed trades;
- Monitor and Manage trade fails, escalating issues as needed;
- Close interactions with Cash/Repo Desks for Trade Resolution;
- Close interaction with Pre-Trade and Trade Support teams to ensure STP is maximized for SSI Enrichment and Trade Allocations identifying opportunities for process improvement;
- Cash and Stock Reconciliation Breaks Resolution to ensure that cash balances and securities positions are accurate and reconciled daily;
- Identifying the root causes of unmatched trades, such as incorrect trade details or counterparty mismatches.
We are interested in hearing from you if you have:
- Minimum 1-3 years in Fixed Income Securities Settlements, ideally with experience of the Cash/Repo product.
- Knowledge of Murex (system) is strongly preferred.
- Understanding of Clearstream/Euroclear Processing and their internal systems.
- Knowledge of European Domestic and CCP Markets is advantageous.
- Bachelor’s degree in business administration or related discipline.
- Client service focused/oriented, commercially minded and very well organized.
- Identify operational discrepancies and escalate according to procedure.
- Aware of the importance of risk and control in an operations environment.
- High attention to detail, and good problem-solving skills.
- A team player always willing to collaborate and step in when called upon combined with the ability to work independently.
In order to be considered you must have the right to work in UK, also please indicate your salary expectations and notice period on the application form.
If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you’ll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.
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Advertising End Date: 22/06/2025
Contact Detail:
Commonwealth Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Associate, Fixed Income Settlements (London)
✨Tip Number 1
Familiarise yourself with the key players in the Fixed Income market, such as Clearstream and Euroclear. Understanding their processes will give you an edge during interviews and help you demonstrate your knowledge of the industry.
✨Tip Number 2
Network with professionals already working in Fixed Income Settlements. Attend industry events or join relevant online forums to connect with others in the field. This can lead to valuable insights and potential referrals.
✨Tip Number 3
Brush up on your problem-solving skills, particularly in relation to trade discrepancies. Be prepared to discuss specific examples of how you've resolved issues in past roles, as this will showcase your ability to handle challenges effectively.
✨Tip Number 4
Research the Commonwealth Bank’s operations and values. Tailoring your approach to align with their mission and demonstrating your understanding of their business model can set you apart from other candidates.
We think you need these skills to ace Associate, Fixed Income Settlements (London)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in Fixed Income Securities Settlements. Emphasise any specific roles or projects that demonstrate your knowledge of Cash/Repo products and systems like Murex.
Craft a Strong Cover Letter: Write a cover letter that clearly outlines your understanding of the role and how your skills align with the responsibilities mentioned in the job description. Mention your client service focus and problem-solving abilities.
Highlight Relevant Skills: In your application, specifically mention your experience with trade validation, reconciliation, and communication with brokers and custodians. This will show that you have the necessary skills for the position.
Be Clear About Your Expectations: When filling out the application form, be transparent about your salary expectations and notice period. This helps set clear expectations from the start and shows your professionalism.
How to prepare for a job interview at Commonwealth Bank
✨Know Your Fixed Income Products
Make sure you brush up on your knowledge of fixed income securities, especially Cash and Repo products. Be prepared to discuss how these products work and any relevant experience you have in settlements.
✨Familiarise Yourself with Key Systems
Since knowledge of Murex, Clearstream, and Euroclear is preferred, take some time to understand how these systems operate. If you have experience with them, be ready to share specific examples of how you've used them in your previous roles.
✨Demonstrate Problem-Solving Skills
Prepare to discuss situations where you've identified operational discrepancies or resolved trade fails. Highlight your attention to detail and how you approach problem-solving in a high-pressure environment.
✨Showcase Your Team Player Attitude
This role requires collaboration with various teams, so be ready to talk about your experiences working in a team setting. Share examples of how you've contributed to team success and supported colleagues in achieving common goals.
