DEPARTMENT RESPONSIBILITIES:
Our client provide clearing services to approximately 50 clients, along with our own Finance Desk. We are a top ten participant of
FICC, and we provide TBA clearance services to clients as well. Email volume is heavy, and client communication skills are vitally important. The ability to handle pressure situations effectively is an absolute requirement. Our area also assists the Finance Desk for the purposes of Firm Cash Management, and we are the final point of Firm Financing for DTC and Fed settlements.
ROLE RESPONSIBILITIES:
Fed Book Entry Clearance
Monitoring BONY
Inputting wires
Creation of bookkeeping entries in our internal system
Position and cash reconciliation
Pair offs
Allocation of collateral to triparty and GCF shells via BONY AccessEdge
Confirmation of trade activity, fail activity, pairoff activity
Maintenance of clearing requirements at MBSCC and GSCC
Communicate with Repo Desk and clients to ensure consistent and correct clearance activity
JOB REQUIREMENTS:
Knowledge of Bank of New York systems
Govt Security Product knowledge
Knowledge of FICC RTTM Webterm
Understanding of tri-party/GCF flow
Ability to handle varying work hours Within the defined area of responsibility ensure the following as it pertains to the
position and where applicable:
Risk Management:
Perform due diligence in daily job to monitor risks and to prevent risk events from occurring. Manage daily responsibilities within risk governance framework, and
policies and procedures of the firm. Take responsibility for identifying and reporting any risks.
Possesses the appropriate risk management and internal control capabilities/skill set
for the position.
Perform daily role in line with the Company's policies, procedures, WSPs and in compliance with applicable rules, laws and regulations to avoid and/or mitigate any regulatory risks.
KEY DISTINCTION:
Ability to work under pressure, communicate clearly, and quickly re-prioritize work flow as situations require
TYPICAL YEARS OF EXPERIENCE:
Department average is over 10 years, but bottom-line requirement would be 2-3 years minimum
Must have full knowledge of Impact/Broadridge