The Cash Settlements Team is responsible for all aspects of settlement for Foreign Exchange, Commodities, Credit, Interest Rate, and Equity OTC derivatives trades post-booking. The position requires daily interaction with various broker clients globally as well as internal sales and trading desks, other Operations groups, and technology teams. Our mission is to provide business units with cost effective, highly efficient and product agnostic full settlements services, enriching our clients experience and strengthening client relationships.
Background on the Team
Cash Settlements is divided into several teams by product and function, offering the fantastic opportunity to learn a variety of different derivatives products and functions within the larger Cash Settlements team. Each team is responsible for controlling risk by managing relationships with counterparties to ensure that high risk settlements are settled on value date, and where there are any post-settlement issues or discrepancies, the team investigates and resolves in a timely way.
Fixed Income and Equity OTC Derivatives products, Foreign Exchange, and Commodities
- Daily communication with clients to agree upcoming cash flows
- Investigation and resolution of client fails through various means, including daily interaction with trading desks, sales desks and middle office groups to ensure prompt resolution
- Reconciliation and analysis of aged breaks
- Client and Business Unit relationship management
- Responding to client queries relating to position breaks, corporate action bookings and reporting
- Collaborating with Operational management, sales, and trading desks to diminish risk through escalation and strong communication
- Acting as a process owner and being accountable for all outstanding items
- Developing and improving existing processes and reporting
- Working as part of the global settlements team to assist with development, testing & implementation of internal system changes
Skills required (essential):
- Strong analytical, organizational, and verbal and written communication skills
- Proven ability to work efficiently and accurately under pressure in a fast paced multi-tasking environment
- Proactive and self-motivated
- Strong Microsoft Excel and Word skills
Due to the nature of the products traded, the job requires the ability to identify problems as they arise and understand when these need to be escalated. Strong problem solving skills and continued follow up are a necessity. The candidate should possess a good appreciation of risk - both operationally and franchise. In addition, the role requires extensive client interaction both internally and externally so the ability to maintain and build excellent client relationships is a priority.