Analyst - Cash Equity Settlements

Job description

Job Title: Analyst - Cash Equity Settlements **About Business Line/Function** 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. **Date** Department: Global Markets Operations - Securities settlements Location: Bengaluru Business Line / Function: Electronic Execution – Security settlements **Reports To** (Direct) NA Grade: (if applicable) NA (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 - Contribute and Lead Transitions - Contribute and Lead to develop & propose ideas for a better partnership with Business and On-shore - To deploy a Capacity Matrix covering the whole scope of processes within the perimeter Propose / Contribute / Lead some Organizational Transformation Streams **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 - Monitoring of failing trades - Reducing fails and/or potential fails by means of pairing off or offering partials for deliveries - Pre-matching trades on a daily basis - Reduce level of errors / incidents - Proactively report errors / incidents & responsible for designing / implementing a Short term / Long term action plan with a systematic Root cause analysis in place. Ensure no errors impacting clients. Nil Incidents on Cash Outs and CCB's. - Responsible for procedures reviews & full coverage / description of the processes under management - Responsible to implement an Daily EOD checklist Governance: Daily Follow-up, Monthly comments, reliability of records - To ensure full adherence to SOP in place & appropriate actions are taken when deviations observed are showing a pattern - To ease Controls of Controls & to provide & follow-up action plan - To ensure BCP plan's and BIA documents are upto date and covers a proper resilance strategy - To ensure that audit/inspection findings and recommendations are put in place according to the audit description and closed in due time (0 overdue) - 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 minimization of settlement costs & operational risk: - To deploy a Capacity Matrix covering the whole scope of processes within the perimeter - Propose / Contribute / Lead process reengineering - Responsible to implement a strong governance vs IT (Support, Dev), Identify SPOC's contacts & responsibilities & Project & Measure the efforts mobilized (Study, UAT), foster a ROI logic within the team - Propose / Contribute / Lead some Organizational Transformation Streams - Agility: Balance / Optimize resources usage in BAU with mindset of realistic commitment & transparency - 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 stake holders 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. - Contribute to ensure all required materials such as procedures, SOP, Skill Matrix, trainers identified, are updated. - Raise to the management / project teams any dysfunctionality during the course of BAU - Actively contribute to UAT testing where necessary and engage in training and coaching the new joiners **Technical & Behavioral Competencies** - Management skill - Problem solving skills - Good communication skills and strong client focus - Multicultural awareness - Risk awareness and attention to detail - Analytical and result oriented - Strong organization skills and rigorous - Experience Required - Minimum of 7 years’ experience Skills Referential **Behavioural Skills** - Ability to deliver / Results driven - Ability to collaborate / Teamwork - Communication skills - oral & written - Ability to share / pass on knowledge **Transversal Skills** - Ability to