Job Summary / Introduction

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.

Responsible for the end-to-end Settlements processing in accordance with regulatory and compliance requirements, with an increased focus on accurate and timely execution to enhance the client experience.

Key Responsibilities

Responsible for daily monitoring and processing of Settlement processes covering Domestic, Regional and International Markets for products like 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. Ensure to track and respond to internal and external clients' queries by providing clear detailed Settlement information in line with the relevant market rules and regulations and Settlement best practice. Responsible for communicating with various stakeholders like Markets, Sub Custodians, Agents, Companies, Depositories, Brokers, Issuers to ensure smooth accurate timely Settlement processing. Ensure that all trade related statuses reports/Instructions are communicated to all stake holders in timely manners. Responsible to have excellent knowledge related to Settlements swift messages and usages of the same. Demonstrates reliability by taking necessary actions to continuously meet required deadlines and goals. Articulates information clearly and presents information effectively and confidently when working with others. Convince others by making a strong case, bringing others along to their viewpoint; maintains strong, trusting relationships while at the same time is comfortable challenging ideas. Participation in section related projects, system changes and upgrades and new client’s requirements and implementation of sub custodian / client SLA

Review processes and suggest and implement changes to enhance client satisfaction and reduce manual intervention and reduce overall cost.

Cash / FX Settlement: Review and validate all transactions inputted by the officer / another specialist. Escalate all mismatches to VP. Validate all data entered into the system and forward to VP for review. On settlement date of transaction ensure transaction settled and all appropriate accounting entries executed. Escalate any settlement issues / discrepancies to VP Validate and Sign any vouchers that need to be passed for FX / Cash execution for review by the VP

Position / Cash Management: Review clients’ positions and holdings daily and reconcile positions with sub-custodians and market to ensure there are no discrepancies. Escalate any discrepancies to VP.

Daily review of client’s cash positions to ensure all clients have appropriate funding and escalating to VP and Middle Office any potential over drafts or if client is at risk of being insufficient. SWIFTS: Validate swift instructions inputted by officer / another specialist into the system for VP to Authorize. Second Level of SWIFT generation process

Reconciliation: Second level of reconciliation ensuring all appropriate checks are done to ensure there are no discrepancies and escalating any issues to the VP.

Ad Hoc Requests: Supporting the VP as required for business-as-usual matters and projects and initiatives

Risk Indicators: Responsible to ensure controls and procedures are being adhered to by the section. Monitor all KPIs, KRIs, Capacity Planning. Submit any incidents and issues to VP for review. Monitoring transactions to ensure they are being processed according to Compliance / Audit standards (requirements)

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

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

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 functions related to corporate actions

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

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. University Graduate / bachelor’s degree (or 5 years related work experience). 5 + years related experience in security services and / or back-office operations e.g. 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 priorities and to manage several tasks at the same time. Team oriented and ability to work under pressure.

Requirements / Qualifications

University Graduate / bachelor’s degree (or 5 years related work experience). 5 + years related experience in security services and / or back-office operations e.g. 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 priorities 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.

Preferred / Beneficial

Specific experience in Securities related functions e.g. Settlement, Client Services, Corporate Actions, Data Maintenance & Billing or Custody Account Opening will be an added advantage.