Job Description

Position PurposePrimary 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
• Mitigation 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

• 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
• Monitoring of failing trades
• 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
• Cash Management related with funding 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 an 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:

• By maintaining close relationships with traders and sales and escalating problems to them promptly where required
• By maintaining good working relationships with domestic agents and custodians
• By communicating with, and assisting, other operational departments where needed
• Ensuring direct Managers are kept informed of any potential problems & issues where appropriate.

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