Description
Overview
The Global Markets Operations team within Commercial Operations supports Middle and Back-Office functions across a range of Listed and Over the Counter (OTC) derivatives products. Within Global Markets Operations, the Confirmations and Settlements team is tasked with managing all transactional lifecycle events (affirmation, confirmation, settlements, etc.) across the Global Markets product suite (Foreign Exchange, Interest Rate and Commodity derivatives, Futures).
Job Description
This position reports to the Head of Global Markets Operations. The position will have direct responsibility for various settlement and confirmation activities, reporting and reconciliation and will lead process improvement, automation and enhancement activities within the Confirmation & Settlements function. This individual will:
Oversee daily production tasks
Act as a point of escalation for issues
Hand-hold large/sensitive transactions as necessary
Partner with the Global Markets Operations Change Delivery Lead to identify, prioritize and complete projects to enhance Confirmation and Settlements functions with focus on process re-engineering and client experience
Liaise with various technology and support teams to build out MI and canned reporting
Flex across the different functional teams to assist with day over day activities as necessary and ensure tasks are completed timely and accurately
Ensure day over day operational and core systems readiness
Responsibilities
Support of daily activities related to Confirmations and Settlement including:
Tracking settlement details and resolving settlement issues with client and Front Office in advance of value date
Direct interaction with external clients and the business line to resolve trade and settlement issues
Daily reconciliation of P&L to Ledger
Oversight of large/sensitive transactions and Time sensitive payments to clients ahead of local market close
Ownership of USD Nostro funding process
Development and implementation of strategic goals consistent with Commercial Operations strategy and aligned across constituent business lines
Management of staff – direct oversight of a team of individuals with responsibility for talent management and staff development
Supporting the development and implementation of strategic business initiatives - new product offerings, regulatory initiatives
Verification and maintenance of Static Data (add / change information specific to account settlement instructions to ensure processing systems have correct settlement data and where applicable, compares e-commerce platform SSI data (FXALL, MISYS, Bloomberg) to instructions on Operations systems)
Develop and strengthen relationships with key business partners and stakeholders
Challenge team to find new/different ways to work through leveraging automation or process re-engineering. Identify and create projects for process enhancements (controlled in Jira workflows) and work with EO to implement.
Enhance the effectiveness of existing internal controls within Confirmation and Settlements team
Identify, escalate and resolve issues that present risk to the bank and/or our customers
Report monthly KPI’s and key updates for senior management review
Qualifications
Bachelor’s Degree required
5-10 years of industry experience with prior experience managing staff. The ideal candidate will have strong and diverse derivative product (Foreign Exchange, Interest Rate and Commodity derivatives) background and awareness of industry best practices and regulation
Working knowledge of common E-commerce platforms (360T, FXALL, Bloomberg)
Prior exposure to Global Markets Operations core technology (WallStreet Systems and Calypso) is preferred
Capable of detecting, interpreting and effectively socializing complex or sensitive issues
Analytical thinker who is able to quickly identify connections between various pieces of data and systems and effectively articulate business impact
Displays strong verbal and written communication and interpersonal skills
Proficient with Microsoft Access/MS Excel 9ability to create MS Access queries and write formulas in Excel (vlookups, etc.))
Deep understanding of SWIFT standards (payments and confirmations) and industry standard settlement practices.
Understanding of accounting principles and practice
Ability to prioritize, perform and coordinate tasks in a fast-paced environment
Some job boards have started using jobseeker-reported data to estimate salary ranges for roles. If you apply and qualify for this role, a recruiter will discuss accurate pay guidance.
Why Work for Us
At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth
Equal Employment Opportunity
Citizens, its parent, subsidiaries, and related companies provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability or perceived disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague’s or a dependent’s reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws
Equal Employment and Opportunity Employer/Disabled/Veteran
Citizens is a brand name of Citizens Bank, N.A. and each of its respective affiliates
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