Settlements Officer

Title: Settlements Officer

Status: Permanent, Full time

Salary: Annual salary +10% bonus + 4 weeks of vacation + health benefits + RRSP matching

Location: Downtown Montreal, Quebec - Hybrid 3 days in office, 2 days work from home

TO APPLY: Please send your resume to emily.woods@groomassocies.com

Our client is an international banking and financial institution with divisions located in the Americas, Europe, Asia,and the Middle East. They are continuing to grow their first Canadian office.

The Settlements Officer is responsible for the day-to-day back-office support of trading activities executed by Securities, the NY branch, our affiliates and clients. This also includes settlement activities of all US TSY transactions as well as tri-party processing & funding, and DTCC activities for the self-clearing broker dealer.

Responsibilities:

- Thorough knowledge of DTCC functionalities, as we are a self-clearing broker dealer and direct DTCC members. Occasional manual deliveries and pledges, investigation, collateral movement to satisfy intraday deficits.

- Funding of the broker-dealer account- review of incoming and outgoing payments, DTCC & FED settlements to determine. Daily funding requirement with Treasury department.

- BNY FED wire & triparty- required knowledge of BNY BDC functionality for FED settlements & collateral movements.

- Need to be knowledgeable of BNY Accessedge for triparty movements, force maturities, allocations of triparty shells.

- Must be familiar with products within our scope, US corporate bonds, US equities, US FED eligible TSY & MBS, commercial paper, MMI instruments. (securities lending/borrowing activities, repo, outright cash trade)

- Processing of wire payments for collateral requirements, reprices, pair-offs, claims & coupon interest.

- Department balancing between clearinghouses (DTCC, BNY) and internal systems (FIS Phase3) ensures that books and records balance daily.

- Ability to communicate & articulate with other support teams (Finance, middle office, collateral management) along with front office trading and sales on production issues, along with projects and implementations.

Qualifications:

- Bachelor’s Degree in a relevant field

- 5+ years of experience in a back office settlements role, with a focus on Fixed Income products

- Knowledge of Securities processing; Payments; regulatory requirements

- Fixed Income products (Repo)

- Working knowledge of the following systems: BNY BDC platform, DTCC, BNY Accessedge, FIS/Phase3 system is a plus

- Self-starter, with excellent problem-solving skills and be able to work under pressure

- Strong written/oral communication skills

- Ability to communicate clearly and easily

- Ability to analyze and summarize

- Rigor and sense of organization

- Apprehension of results and priorities

- Relationship management/Commercial sense

We thank all those that apply however only those that meet all of the criteria will be contacted. For more information on our recruitment services please visit www.groomassocies.com