Senior Associate - Security / Equity Settlements

Global Market Securities Settlements team ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, Repo..) and positions registered in the books under CIB ITO’s mandate, match the commitment actually taken with counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.

Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope.

Job Title:

Senior Associate

Date:

Department:

Global Markets Operations –Securities settlements

Location:

Bangalore

Business Line / Function:

Electronic Execution – Security settlements

Reports to:

(Direct)

NA

Grade:

(if applicable)

Senior Associate

(Functional)

Number of Direct Reports:

NA

Directorship / Registration:

NA

Position Purpose

Primary responsibilities of the team includes:

·       Settlement of Security transactions and associated products in a timely and cost effective manner

·       Timely resolution of nostro and depot breaks while working collectively with the team

·       Working with the team to try & mitigate of operational and reputational risk by escalating in a timely and efficient manner

·       Liaising with clients, brokers / counterparties and other internal support functions for smooth settlement of trades

Responsibilities

Key Responsibilities:

• Responsible for the settlement of Security transactions & associated products booked in Calypso, on a timely and cost effective basis by:   

• • Ensuring all trades are instructed, matched & settled on a timely basis
  • Assisting the Assistant manager in trying to monitor the failing trades
  • Making effort to reducing fails and/or potential fails by means of pairing off or partialing down deliveries
  • Minimizing fails by means of partial deliveries where possible
  • Pre-matching trades in a daily basis
  • Ensuring sufficient intimation is sent to Cash Management team wrt the funding of trades

• Responsible for solving Nostro and Depot reconciliation breaks on a timely basis:
  • By investigating and, where possible, clearing all nostro breaks in reported by Securities Control teams
  • By passing entries to the Calypso systems to clean up outstanding items on a timely basis
  • By investigating and, where possible, rectifying all depot breaks on a timely basis reported by Securities Control teams
  • By investigating and solving accounting breaks raised by Securities Control & Accounting teams
  • Escalating items that represent operational risk to the direct Manager

• Contribute to the minimisation of settlement costs & operational risk:
  • By becoming more risk aware and by following the procedures or Compliance rules that are in place to mitigate operational or reputational risk
  • Monitors and take appropriate actions in case of market risks (buyins)
  • By seeking to improve STP rates at our custodians so reducing cost, by updating static data as and when necessary
  • By reducing the number of manual instructions sent to agents therefore reducing cost, manual intervention and settlement risk according to Compliance rules
  • If necessary, using the escalation process when operational risk is detected

• Contribute to the overall successful running of the settlement department:
  • Actively participate in the BCP exercises/tests
  • Follow audit/inspection  recommendations  scrupulously.
  • Take immediate steps on the observations made by OPC pertain to your area of operations
  • By maintaining good working relationships with domestic agents and custodians
  • By communicating with, and assisting, other operational departments where needed
  • Reduce level of errors / incidents - Proactively report errors / incidents and avoid repetitive erros&Incidents. ZERO Cash Outs and Zero CCB's/Data breaches.
  • Contribution to the team development:
  • Formalization of team procedures and operating guides
  • Participation of training and coaching for new joiners

Skills and competencies:

·       Ability to analyse, organize and report efficiently. 

·       Flexibility on working methods and changing international environment.

·       Rigorous and reactive in order to face pressure and reach excellence anytime

·       Diligently follow the set procedures and Compliance policies

·       Knowledge of financial markets and products, and easiness/expertise in dealing with Excel.

·       Language Skills required: Business english speaker