Under general supervision, uses advanced skills gained through training and experience to process the delivery and receipt of foreign securities versus USD and/or foreign currencies through the various depositories utilizing foreign clearing and settlement systems. Several reports and procedures are used to make deliveries and process the settled trades. Learn and actively participate in balancing the daily settlement and foreign currency reconcilements. Overtime may be required due to heavy trade volume, and/or balancing daily settlements/researching out-of-balances. Cross training on other job functions in the department and attending RJU is expected.
Essential Duties and Responsibilities:
- Assists co-workers as needed to meet settlement deadlines.
- Provides training, guidance and assistance to other associates as required.
- Updates and reviews departmental job descriptions as policies and procedures change.
- Assists with reviewing lower level associates work for accuracy and completeness.
- Calculates market and firm risk taking into account currency fluctuations when working on trade settlement problems
- Resolve monetary or stock record out-of-balance situations.
- Answers phones and email inquiries in a timely and professional manner.
- Performs general clerical activities, including faxing, copying and filing.
- Analyzes current procedures and offers improvement suggestions to increase workflow accuracy and efficiency.
- Reviews and resolves trade problems.
- Processes settlement entries in the SIS and ShadoSuite systems - pull depository settlement and cash reports.
- Journals shares and funds from dividends, reorganizations and offshore money markets.
- Performs other duties and responsibilities as assigned.
Knowledge, Skills, and Abilities:
- Basic mathematical/bookkeeping skills including addition, subtraction, multiplication, division, percentages, fractions, averages and balancing sufficient to complete settlement. Requires strong numeric aptitude.
- General office practices, procedures and methods.
- General accounting procedures.
- Industry/Home Office rules and regulations pertaining to settlement and fail control.
- Foreign settlements, systems, and regulations in various countries. (added)
- Operating standard office equipment and the use of Microsoft Office applications (Word, Excel, Outlook and Access) at an intermediate to high level to create documents, spreadsheets, and business correspondence.
- Accurate 10 key touch and data entry.
- Organizational and time management skills sufficient to prioritize workload, handle multiple tasks, and meet critical deadlines.
- Calculate percentages, balance accounts, and provide statistical data.
- Work well under pressure due to stringent timeframes and high trade volume.
- Adjust to fluctuations in work volume and changes to assignment priorities.
- Accurately process entries in all systems and recognize/resolve erroneous entries.
- Communicate information orally and written in a clear and effective manner sufficient to interact with internal associates and external contacts at all levels.
- Research and resolve problems in a timely manner.
- Exercise sound, independent judgment.
- Determine required actions by following regulatory and/or departmental guidelines.
- Display critical thinking, at a high level.
- Train new associates, critique their work and assist co-associates with their assigned tasks.
- Effectively gather relevant information and identify key issues.
- Contact companies, branches and depositories in foreign countries and work through any language barriers.
Educational/Previous Experience Requirements:
High School diploma or equivalent, Associate's degree and a minimum of 3 years general work experience and 1-2 years industry experience preferred.
An equivalent combination of education, experience and/or training approved by Human Resources.