Clearing and Settlement Analyst

• ETF Rates Settlements does exception handling of DB and Non DB Issued securities for rates business.
• International Non DB Issued creators are mainly UBS, Blackrock (iShares) and Vanguard for which DB is one of the principal bank and has capability to create and redeem stock with State Street who act as an Authorized participant.
• This involves lot of stake and NAV sensitivity due to competition between similar products.
• Critical activities includes solving unmatched trades, prioritizing CCP deliveries, raising traded short ISIN through define reports to trading desk, working on settling subscription and redemption queries, Singapore/HK creations and TLM reconciliation.
• Delay in foresaid activities have directly impact in creating daily penalties or complaints raised by client.
• Specially, creation orders versus client deliveries if booked in LDN-APAC zones have risk of VD buy-in if arrangement of moving stock is not in line.

Your key responsibilities

• Work on unmatched trades by contacting counterparties and middle office to solve economic and non-economic discrepancies. Updating cash/stock SSI and fixing location matrix from ODC for STP settlement
• Performing inventory management on each ISIN to cover shorts by chasing c/p on receipts, requesting DRL team to move stock from one market to another and raising traded short ISIN to desk in designated format.
• Working on unmatched/inventory management of iShares creations/redemptions booked during the day and receiving such communication from State Street who acts as our Authorize participant.
• Action on settlement inventory task (TFSC,TFSA,CLSS) by agreeing reversal with c/ps or manual settlement of trade.
• Instructing manual swifts (MT540,541,542,543) through FMS in cases such as net off, reversal, dupe settlement.
• Clearance of nostro and depot TLM breaks by performing required level of investigation and raising issue to appropriate teams.
• Preparation of risk reports like SOD, EOD, DB MI to share open risk with management.
• Knowledge about CASS, CSDR and other regulatory changes and its applicability to day to day operations.
• Pre-matching of trades with CPTY / inventory management / clearing and settlement of trades
• Monitor and confirm incoming funds for timely settlement in compliance with market practice.
• Closely work with Risk Team, Middle Office and Front Office to push payments from their queue and assist in resolving payment issues and exceptional items
• Handle client queries including ad-hoc queries via phone and email
• Pro-actively chase counterparties and relevant groups in resolving non receipt of funds or payment issues and trade settlements issues.
• Understand the importance of managing issues and escalations
• Perform counterparties SSI, Trade amendments and FX Bookings
• Ensure & prepare the smooth settlements with Market and client / affiliate trades.
• Arrange for stock borrow to avoid the fail to deliver the stock to the client
• Calculating & confirming collateral balance of SBL and General Margin trades
• Ensuring & preparing the smooth settlement of market trades and client / affiliate trades
• Liaise with relevant teams for settlement inquiries relating to SBL equity transactions
• Communicating with external/internal clients
• Creating & sending various reports to on-shore units

Your skills and experience

• You should have analytical and good problem solving, should have good communication and escalate any issues proactively.
• The role requires extensive internal and external stakeholder communication.
• Should be a team player
• Flexible with shifts and be ready to take on additional responsibilities when needed.
• The Ideal candidate should have a university degree or equivalent with 2-6 years of Investment Banking operations experience of which at least 2 years of experience in Equity Settlements managing European settlements.
• Should have strong knowledge of trade life cycle and good understanding of Equities product and Business and European market nuances
• Strong analytical skills, detail oriented, flexible to work in shifts and take additional responsibility when needed.
• Very good verbal and written articulation/communication skills
• Should be able to challenge status quo.
• The ideal candidate should have hands on Experience in Trade settlements and should have managed Trade operations in the past, preferably for European markets.
• Should have strong knowledge of trade life cycle and market nuances.
• Good knowledge on various financial products like Cash Equities, Prime finance, Stock Borrow loan settlements etc.
• Basic understanding of Conversions, Corporate actions and Securities static data
• Proficient in MS office with specific concentration on MS Excel
• Good analytical skills and trouble shooting skills