Securities Settlement Contractor in London

Profile Summary

Duties and Responsibilities

• Respond to internal and external enquiries in a timely manner.
• Ensure timely responses to client queries sent by email/phone communication, providing a positive client experience.
• Implement ideas across the department with an aim to reduce manual processes and improve automation.
• Project work as required and contribute to the department’s project slate, including UAT Testing.
• Carry out reconciliation investigations on all relevant breaking items with a one-day deadline, including both Stock and Cash breaks, ensuring the correct escalation process is followed.
• Proactively investigate discrepancies with custodians and follow up on their resolution.
• Operate within the defined process controls and procedures, proactively seeking out any risks, escalating and providing ideas to remediate.
• Ensure all Bond and Equity trades settle on a timely basis.
• Pre-match and settle trades across Asian, American and European markets via Domestic agents and Euroclear.
• Monitor fails/settlements for relevant Domestic Markets and Euroclear.
• Liaise with Cash Management and Traders to resolve failed trades, bond settlement issues, and general operational risk.
• Late shift work for USD Settlements between 19:30-20:30 working remotely from home as and when required and pre-agreed with line manager.
• Monitor fails/settlements for DTC and UST markets and arrange covering for any DK’d trades where appropriate to ensure any negative cash balance is covered.
• Declaration and processing of transactional taxes: UK & Irish Stamp, Financial Transaction Tax.
• Understanding of all market claims.
• Cross train and cover other team members across the Settlements Team as and when required.
• Participate in relevant SOX Testing and audit work (internal and external).
• Escalate any settlement issues to the correct distributions immediately, keeping relevant departments in the loop.
• Bank Holiday coverage is required.
• Monitor LCH, Tri-Party and Collateral Transactions through to settlement.

Dual Hat Duties and Responsibilities

• Adhere to the Dual Hat Policies & Procedures which set out the permitted activities and ensure you conduct yourself accordingly when acting in a dual hat capacity.
• Responsibility for identifying and resolving where there may be a difference or conflict in needs, escalating where required.

Dual Hat Authority

• Adhere to the Group’s Dual Hat Policies & Procedures, regulatory and compliance obligations, and any other applicable policies made available to you, and as updated from time to time.

Qualifications, Skills and Experience

• Time management skills.
• Good verbal and written communication skills.
• Team Player.
• Extensive coverage of standard operational tasks.
• Ability to work independently.
• Flexibility to cover across Roles within the Settlements team.
• Experience within Investment Banking Operations.
• Minimum 3 years of experience within Settlements.
• Reconciliations experience.
• PC Skills (Excel, Word especially).
• Understanding of securities markets, their deadlines, and challenges from a settlements perspective.
• SWIFT experience, understanding of formatting and processing SWIFT messages.
• Easyway and Gloss experience is preferred.

Skills: Settlement, Fixed Income, Equities, Euroclear, Swift, Payments, Reconciliations, Repo, Neolink, Gloss.