NY Investment Support, Settlements Supervisor
Base: to $95K, $30K bonus = $125K TC 1st year
Job Description:
This position requires a solid background in securities operations, including depositary settlements, industry and market practice knowledge of trade instructions and automated system solutions for straight through processing. Working knowledge of investment accounting, reconciliation, client reporting, and performance are also desirable. Five to seven years experience in a similar environment is preferable.
Detailed knowledge of fixed income instruments – asset structures, accounting, settlement and reporting – including: cash and money market instruments, as well as, municipal securities. The individual requires a strong operational risk focus as well as being adaptable to a constantly changing environment; appropriately analyzing the need for process re-engineering of work-flow, and enhancing risk management tools where necessary. It is a necessity to be able to communicate effectively to Western’s counterparties and clients and display excellent inter-organizational relations to integrate the department with the organization as a whole. A clear understanding of the impact of issues which may arise and concise articulation of the risks is vital when elevating to senior management. In addition, the incumbent must have quality leadership skills and the ability to motivate others to excel in the pursuit of the organization’s goals.
Overall Department Responsibilities
Reporting to the New York Investment Support Manager. Supervising 6 staff, supporting the following functions:
- Confirmation, trade control, instruction and settlement of fixed income products including municipal and money market instruments.
- Maintenance of standard settlement instructions
- Interest claims
- Swift application management and control
- Business continuity planning
- Liaise with other offices – support for the global operating model and addressing and resolving queries
- Addressing queries from other departments: Reconciliation, Cash Management, Reporting, Compliance, RFI Group, Auditing assistance
- Managing bank and broker relationships as necessary
Supervisory Responsibilities
Proactive Risk management and Reporting: Manage and report risk in all areas. Identification of cost drivers, managing operational risk, pro-active identification of resource or technology requirements, providing exceptional based risk management reporting.
Staff Training and Development: Identify training requirements, sourcing of relevant internal and external training opportunities. Prepare measurable goals and objectives for all staff. Develop staff skills to support completion of their goals.
Securities Operations Optimization: Optimization trade volume sensitivity, operational performance (workflow and application) gap reviews, continual analysis and review of process improvements and seeking economies of scale.
Custodian Bank Knowledge: Custody operations and bank management: cash management, projections, overdraft and debit interest monitoring.
Technology Enhancements / Upgrades: Interface with the technology department to assist drafting, testing and implementation of upgrades to existing systems and new applications.
Audit: Ensure department compliance to all procedures and controls. Add, update and enhance when necessary with the approval of senior management.
Industry and Regulatory Knowledge: Proactive participation and interaction with custodians, brokers and industry user groups to leverage the knowledge and actively control and manage market and regulatory changes.
Education: Bachelors Degree in related field
Email resume in Word to thebiggamehunter@cisny.com ONLY IF YOU HAVE THE EXPERIENCE SOUGHT. Please include the job code with the position.
NO RELOCATION. NO VISA TRANSFERS. NO 3RD PARTIES. NO OVERSEAS RESUMES.
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