Position Summary
The
Settlements Officer will ensure smooth operation for securities trade settlement by confirming and finalizing transactions, communicating with brokers and custodian banks and resolving trade discrepancies. This position is responsible for handling the settlement for fixed income securities and derivatives, including swaps, options, futures, and bank loans. The Settlements Officer also has responsibilities for monitoring collateral, and confirming margin variation cash flows.
Primary Responsibilities
- Confirm all trades daily on the day of execution; obtain trade tickets from Portfolio Managers via Trade Blotter; confirm all aspects of trades via telephone
- Oversee swap, derivative and other complex trades from post-execution through post-settlement; tasks include DTCC Deriv Serv confirmation (for CDS), cash flow verification, broker confirmations, collateral and margin calculation, and position monitoring
- Execute documents and settle trades for bank loans through Clear Par or manual processes
- Provide trade instructions to banks via letters, fax, autofax, and electronic messaging
- Resolve daily settlement issues - failed settlements, SPO charges, claims, and overdrafts, involving research, communication, and problem solving
- End of day reports review to ensure daily trades are reflected accurately; research and resolve discrepancies
- Gather delivery instructions from custodian banks and set-up on ALERT
- Affirm select accounts via ACTION system
- Conduct special projects, as requested, by Settlements Manager or Senior Management
Qualifications
- Bachelor’s Degree in Finance, Economics or similar field
- At least 1-2 years experience performing similar duties with a Fixed Income Asset Manager, and familiarity with fixed income products/market
- Excellent communication and interpersonal skills
- Strong organizational skills and attention to detail
- Works well in a fast-paced environment: ability to prioritize, perform with high accuracy, and meet tight deadlines
- Working knowledge of standard computer software including MS Excel and MS Word
- Familiarity with, Bloomberg, Trade Web, and OMGEO ALERT is desired
- Experience with DTCC Deriv Serv is a plus
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