This position is responsible for handling the settlement for Fixed Income and Equity Securities and Derivatives, including Swaps, Options, Futures, and Bank Loans. The Settlements Specialist also has responsibilities for monitoring collateral, and confirming Margin Variation Cash Flows.
- Confirm all trades daily on the day of execution. Obtain trade tickets from Portfolio Managers via Trade Blotter; confirm all aspects of trades via telephone
- Oversee Swap, Derivative and other complex trades from post-execution through post-settlement. Tasks include cash flow verification, broker confirmations, collateral and margin calculation, and position monitoring.
- Execute documents and settle trades for Bank Loans through Clear Par or manual processes.
- Provide trade instructions to banks via letters, fax, autofax, and electronic messaging.
- Resolve daily settlement issues - failed settlements, SPO charges, claims, and overdrafts, involving research, communication, and problem solving.
- Review end-of-day reports to ensure daily trades are reflected accurately; research and resolve discrepancies.
- Gather delivery instructions from Custodian Banks and set-up on ALERT.
- Affirm select accounts via ACTION system.
- Conduct special projects, as requested, by Settlements Manager or Senior Management.
- Support SSAE 16 (formerly SAS 70) requirements for the Operations Team.
- Bachelor's degree in Finance, Economics, or similar field.
- One to two (1 to 2) years experience performing similar duties with a buy-side asset manager, or equivalent sell side experience preferred.
- Excellent communication and interpersonal skills (must establish good rapport with internal and external business partners, including broker/dealers and custodians).
- Ability to work in a team environment and interact with all levels of the organization.
- Strong organizational skills and attention to detail
- Works well in a fast-paced environment: ability to prioritize, perform with high accuracy, and meet tight deadlines.
- Working knowledge of standard computer software, including MS Excel, MS Word.
- Familiarity with, Bloomberg, Trade Web, OASYS, and OMGEO ALERT, desired.
- Knowledge of domestic and global fixed income and equity securities/instruments, including derivatives and currency is strongly preferred.
- Experience with Financial Services industry including global securities and foreign currency transactions