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- Tasks: Join our team to manage cash settlements and reconciliations in a dynamic environment.
- Company: ICBC Standard Bank Plc is a leading financial markets and commodities bank with a global presence.
- Benefits: Enjoy hybrid working, competitive pay, generous parental leave, and wellness perks.
- Why this job: Be part of a diverse team that values integrity and promotes personal growth.
- Qualifications: Experience in financial services and knowledge of commodity operations are essential.
- Other info: We promote equal opportunities and encourage applications from all backgrounds.
The predicted salary is between 36000 - 60000 £ per year.
Commodity Settlements & Clearing Analyst
Join to apply for the Commodity Settlements & Clearing Analyst role at ICBC Standard Bank Plc
Commodity Settlements & Clearing Analyst
Join to apply for the Commodity Settlements & Clearing Analyst role at ICBC Standard Bank Plc
Get AI-powered advice on this job and more exclusive features.
Commodity Settlements & Clearing Analyst
The Operations department is responsible for ensuring the complete end-to-end processing of the Bank\’s transactions and services. They are responsible for ensuring that the appropriate control framework exists to ensure the accuracy of this processing as well as the recording of this in the Bank\’s books and records. Operations are also responsible for the accurate and timely reporting of the Bank\’s transactions to multiple regulatory stakeholders globally.
The Operations department performs the following functions:
- Trade Support
- Financial Commodity Operations
- Physical Commodity Operations
- Clearing and Vaulting Services
- Structured and Banking Products support
- Facilitation of trade finance and documentary credit products
- Confirmations
- Payments Sanctions Screening
- Clearing Operations
- Operations Control
- Balance sheet substantiation
- Nostro production and reconciliations
- Risk and control oversight and monitoring
- FIC Settlements
- Regulatory Operations
- Cash, Interest Claims and Nostro management
- Brokerage Services
- FX, money market, NDF and OTC derivative settlements
- OTC derivatives and securities confirmations
What you\’ll be doing
To perform the functions within the Commodity Settlements & Clearing team within Commodity Operations.
The Commodity Settlements & Clearing team\’s responsibilities include:
- Cash settlements
- Cash reconciliations
- Agreement of netting and settlement mechanics with clients
- Clearing (Loco London and Zurich)
- Daily house and client settlement management
- Daily LPMCL management including allocations, calls and brokers
- Other tasks
- Call account management
- Daily and weekly metal reconciliations
- VAT processing
- Balance sheet substantiation
This role will be part of a team providing the operational support to the Metals trading regions including London, Singapore and New York and will settle and reconcile all metals transactions booked on the Plc balance sheet. The role requires strong focus and knowledge of the controls that we rely on to facilitate the settlement of our complete suite of metals products.
The role requires detailed two-way communication both to understand the requirements of the front office and clients/counterparties and to ensure that at all times we are keeping operational risk to a minimum. The candidate should be professional at all times, work well within a team, show initiative and be proactive.
Key Responsibilities
- Ensuring all tasks have appropriate procedures and controls
- Ensuring all tasks are completed in a timely and accurate manner
- Seeking efficient solutions to the tasks performed by the team
- Ensuring adherence to all relevant Bank standards and policies.
- Ensuring that the service provided by the team is delivered to an excellent standard.
- Ensuring that Commodity Settlements & Clearing team works collaboratively and effectively with other Operations teams in all global locations to enable excellent service to be delivered by the Operations department to internal and external clients.
- Working collaboratively with Technology colleagues to ensure that systems relied on by Commodity Settlements & Clearing are fit for purpose and where enhancements are required they are ratified and appropriately prioritised.
- Working collaboratively with Operations Control on risk management and control enhancements
- Proactively and promptly managing any risk incidents that relate to or impact the team
- Promoting diversity, challenge and teamwork within Commodity Settlements & Clearing
- Role modelling the Bank\’s values and promoting those values within the Operations department.
- Promoting integrity and openness across the Operations Team and in its client and stakeholder service.
- Supporting integration initiatives between the Operations department and ICBC head office / other ICBC entities.
- Willingly participating in Operations and Bank-wide initiatives
What you\’ll need to be successful
Experience required to successfully performing the role:
- Experience of working in a regulated environment, ideally Financial Services
- Experience within clearing and vaulting commodity operations
Knowledge, technical skills and expertise:
- Business knowledge clearing and vaulting
- Understanding of LBMA and ideally international markets
- Understanding of risk and control
- Banking knowledge
- Knowledge of emerging markets
Personal attributes:
- Resilient
- Client service mindset
- Strong interpersonal skills
- Pays attention to detail
- Results oriented
- High level of integrity
The role would suit someone who:
- Able to navigate complexity
Why should you join us?
ICBC Standard Bank Plc (ICBCS) is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and markets. We benefit from a unique Chinese and African parentage and an unrivalled global network and expertise. We\’re headquartered in London, with operations in Shanghai, Singapore and New York.
We\’re a diverse and close-knit global team. We put people first, giving talented, self-driven professionals the flexibility, rewards and freedom to grow their expertise and realise their potential.
Our vison statement, \”Be Yourself, Succeed Together\” underpins our drive for an open and transparent culture which values difference, enabling everyone to thrive whilst being themselves. We have an active E, D&I forum and we\’re growing other employee network groups, including for women and neurodiversity.
We\’re committed to the principle of equal opportunities. All applicants will be treated equally and will be considered on their merits and skills without discrimination.
What\’s in it for you?
- Financial market-based pay based on skills and experience, discretionary annual bonus, pension contribution 10% (employee contribution 5%), travel insurance, life assurance and income replacement insurance.
- Hybrid working the option to work remotely up to two days per week, depending on the role.
- Family – 6 months fully paid maternity leave and enhanced shared parental leave. Coaching for family leave returners and access to emergency care via My Family Care. Miscarriage and menopause policies.
- Wellbeing – private medical insurance, Bike2Work scheme, health and fitness subsidy, holiday exchange and an Employee Assistance Programme.
- Community paid volunteering leave and Give As You Earn scheme. Vibrant CSR and engagement forums and fundraising for our charity partners.
- Development a suite of opportunities to build the skills you need to excel in your role
If you\’re excited about becoming part of our team, get in touch. We\’d love to hear from you!
ICBCS has appointed Robert Walters Outsourcing (RWO) to manage its recruitment process and Preferred Supplier List (PSL). Unsolicited CVs sent directly to ICBCS or its staff from non-PSL agencies will not be accepted and no fees will be paid for such submissions.
Seniority level
-
Seniority level
Associate
Employment type
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Employment type
Full-time
Job function
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Job function
Analyst
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Industries
Banking
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Commodity Settlements & Clearing Analyst employer: ICBC Standard Bank Plc
Contact Detail:
ICBC Standard Bank Plc Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Commodity Settlements & Clearing Analyst
✨Tip Number 1
Familiarise yourself with the specific regulations and standards that govern commodity settlements and clearing operations. Understanding the LBMA and international market practices will give you an edge in discussions during interviews.
✨Tip Number 2
Network with professionals already working in commodity operations or financial services. Attend industry events or join relevant online forums to gain insights and potentially get referrals that could help your application stand out.
✨Tip Number 3
Demonstrate your problem-solving skills by preparing examples of how you've efficiently managed tasks or resolved issues in previous roles. This will showcase your proactive approach, which is highly valued in this position.
✨Tip Number 4
Research ICBC Standard Bank's values and culture thoroughly. Be ready to discuss how your personal attributes align with their commitment to integrity, teamwork, and client service during your interview.
We think you need these skills to ace Commodity Settlements & Clearing Analyst
Some tips for your application 🫡
Understand the Role: Before applying, make sure to thoroughly read the job description for the Commodity Settlements & Clearing Analyst position. Understand the key responsibilities and required skills, as this will help you tailor your application.
Tailor Your CV: Customise your CV to highlight relevant experience in commodity operations, financial services, and risk management. Use specific examples that demonstrate your ability to perform tasks mentioned in the job description.
Craft a Strong Cover Letter: Write a compelling cover letter that explains why you are a great fit for the role. Mention your understanding of the commodities market and your experience in a regulated environment, as well as your client service mindset.
Highlight Soft Skills: In your application, emphasise your interpersonal skills, attention to detail, and resilience. These personal attributes are crucial for the role and should be evident in your CV and cover letter.
How to prepare for a job interview at ICBC Standard Bank Plc
✨Understand the Role
Make sure you have a clear understanding of the responsibilities of a Commodity Settlements & Clearing Analyst. Familiarise yourself with cash settlements, reconciliations, and the importance of risk management in commodity operations.
✨Showcase Relevant Experience
Highlight any previous experience you have in regulated environments or financial services. Be prepared to discuss specific examples of how you've handled clearing and vaulting operations or similar tasks.
✨Demonstrate Attention to Detail
Since this role requires a high level of accuracy, be ready to provide examples of how you've ensured precision in your past work. Discuss any processes you’ve implemented to minimise errors and enhance efficiency.
✨Emphasise Team Collaboration
The role involves working closely with various teams across global locations. Share experiences that demonstrate your ability to collaborate effectively, communicate clearly, and contribute positively to team dynamics.
