Specialist- Settlement Services

15 سبتمبر، 2022

0 3 3 دقائق

Job Description

Job Description
JOB PURPOSE:

Responsible for daily monitoring and processing of Settlement processes covering Domestic and Regional and International Market for equities ,mutual funds , fixed income , hedge fund , structured funds , ETF, Local and International Securities Lending and Borrowing, Local Market Short Selling and ensuring highest quality of client service delivery as per international standards
Responsible for handling extremely complex settlement transaction across Local, Regional, International Markets. Processing responsibilities include the receipt of client, market / sub custodian instructions. Validating the correctness of all instructions. Ensuring the matching and settlement of instructions in timely manner across all markets
Communicate with many entities Clients, Counter parties, Markets, Sub Custodians , Regulators, Companies, Brokers, Paying Agents, Issuers covering Local, Regional, Global Markets, related to settlement process, support Due Diligence visits linking to Settlement process
The incumbent is responsible for adhering to established quality control measures and procedures
Responsible to provide the first level training for new specialists and will assist specialists in handling inquiries
Handle the cash managements for the client to facilitate the smooth settlements across all markets
Active participation in understanding the Operating module, including Securities Lending and Borrowing transactions, that are large in value and complex in nature, ensuring their successful settlement processing, avoiding loss and penalties to the bank and clients that could cause the bank Reputational, Financial and Operational Risk
Current offering of Department: Position Management, Security/Cash Settlement, Corporate Actions, Reporting, Invoicing, Reconciliation, Swift, Market Security Movement, FX Management, Cash Management, Project Support, Proxy Services, Tax Reclaims, Income Management. Planned expansion into support of Securities Lending, Client Short Selling, Network Management Support, Claim Management and other services
Specialist will participate in section related projects such as system upgrade / changes, processing enhancements and off hours system testing
Active participation in implementation of Settlement processing related to New clients SLA and SLD, Sub Custodian SLA, New Functions, Products, Market Rules Regulations and Procedures with relevant controls to provide highest level of client delivery
Cope with market changes and subsequent upgradation of internal processes and to identify any potential risk and to create the appropriate controls
Responsible to coordinate and work with various internal departments and external entitles and concerned persons as an integral part related to participation in Projects in order to Re-engineer the process for excellence client delivery and reduce manual activities

Key Accountabilities:
Policies, Systems, Processes & Procedures

Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that work is carried out in a controlled and consistent manner
Demonstrate compliance to organization's values and ethics at all times to support the establishment of a value drive culture within the bank

Continuous Improvement

Contribute to the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction

Reporting

Assist in the preparation of timely and accurate statements and reports to meet department requirements, policies and quality standards

Participation on section related projects, systems upgrades / changes , new client requirements, new product functionsrelated to corporate actions

Understanding and active participation in Projects requirements and system upgrades and changes

Process Management

Ensure accurate and timely processing of client and client impacting instructions. Reconciling to confirm appropriate settlement of all transactions (FX, Cash, Securities, Corporate Action, Tax Reclaims). Volumes are significant, and as this is a new an up and coming business the volumes and complexity of the products and services being offered are increasing exponentially
Managing transactions that are large in value and complex in nature, ensuring their successful settlement, avoiding loss and penalties to the bank and clients that could cause the bank Reputational, Financial and Operational Risk

Qualifications
Minimum Qualification

University Graduate / Bachelor's Degree (or 5 years related work experience)

Minimum Experience

5 + years related experience in security services and / or back office operations eg managing securities settlements/ corporate actions
Solid understanding of security services and operations and accounting activity related to security services
Ability to work under pressure, to prioritise and to manage several tasks at the same time
Team oriented and ability to work under pressure
Ability to achieve business objectives without compromising controls and risk parameters established
Strong execution skills in a multi-tasking mode and follow-up effectively
Self-starter with excellent attitude, communication and interpersonal skills
High level of accuracy & attention to detail and excellent team working skills
Specific experience in Securities related functions eg Settlement, Client Services, Corporate Actions, Data Maintenance & Billing or Custody Account Opening will be an added advantage