Assistant Vice President - Repo Bond Settlements

Job description

**Job Description** Repo/Bonds settlements Job Title: Assistant Vice President **Date** Department: Global Markets Operations – Securities settlements **Business Line / Function** Repo/Bonds settlements **Reports To** (Direct) NA **Grade** (if applicable) Assistant Vice President (Functional) **Number Of Direct Reports** NA **Directorship / Registration** NA **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. **Position Purpose** **Primary Responsibilities Of The Team Include** - Settlement of Repo and Bonds 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 The team works closely with other internal teams and support functions and timely action and identification of issues are of prime importance. It is essential for this role to ensure the team deliverables are met and issues are highlighted to the relevant groups and stakeholders as appropriate. Main drivers are client service quality, independent control, operational risk safety and cost efficiency. **Responsibilities** Key responsibilities: - Responsible for the settlement of Repo and Bonds 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 - 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 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 direct Manager - Contribute to the minimization 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 (buy-ins, market fines and penalties etc.) - 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 **Skills And Experience** - Strong knowledge of Securities & operational processes of securities - Knowledge of Cash Management - Strong knowledge of Microsoft software (Excel, VBA, Word, PPT, Outlook) - Knowledge of practices of Lean & CI would be a plus **Competencies** - Analytical mindset: Aptitude to understand the F2B workflows and handle exceptional issues with logical mindsets to communicate with Front Office / other internal teams - Organized & good resistance to stress: This is a much faced paced dynamic environment; therefore excellent time management and good positive resistance to stress are compulsory. - Attention to detail: Ability to ring the bell for any abnormal trade pattern and escalate in timely manner - Innovation and initiatives (Think “outside the box”): Demonstrate willingness to constantly improve the status quo. Understand well the processes in place and evaluate if needed, alternative options to do things better with a cost - benefits / ROI approach. - Self-discipline & autonomy: Have a constant “delivery on time” mindset, both on the daily production and on the projects handled. Ability to work on its own with little supervision. - Adaptability & Change Management: Ability to easily adapt to new situations (new booking systems, new products, new activities to manage…) as this is a constant changing environment - Strong Client Focus: Capacity to work with various clients. Need to be sensitive about the rationale of their requests and be proactive when replying to them. Work as partnership while consistently keeping an independent mindset. - Escalation & Reporting process: Internal rules of reporting and escalation to Ops and FO need to be known & applied. The team member also needs to report any sensitive information/issues and escalate immediately to their management. **Experience Required** Minimum of 12 years’ experience Skills Referential Behavioural Skills: (Please select up to 4 skills) – Ability to deliver / Results driven Ability to synthetize / simplify Decision Making Critical thinking Transversal Skills: (Please select up to 5