Settlements and Cash Specialist
Confidential, Chesterbrook, PA, United States
Settlements and Cash Specialist
Securities Services – Banking Service Operations
Location: Chesterbrook
Within Securities Services, and among the business units and professionals supporting clients globally, is the Custody Settlements and Cash Operations team. Our team supports client’s post-trade processes including trade and global CCY cash settlement along with foreign exchange, mutual fund and physical certificate management. This role is based in the Chesterbrook, PA office and is part of a dual-office structure with peers located in the Lisbon, Portugal offices of Securities Services. The team manages the daily flow of financial transactions, settlement and reporting between the client and the local market agent or international/central securities depositories. While the team’s volumes and daily activity is weighted towards the US market (DTC/NSCC, Fed), our coverage includes the fast-growing global custody offering that is supported across regions.
Candidate Success Factors :
Candidates will be measured on the following four performance drivers that will dictate how individual impact is considered on the Americas platform:
Results and Impact Leadership and Collaboration Client, Customer and Stakeholder Focus Compliance Culture and Conduct
Responsibilities :
Status (before, on, and post contractual settle date), troubleshoot and settle transactions with service partners, external clients, agents/depository, and/or counterparties towards trade fail mitigation Daily monitoring and deadline driven processing of incoming and outgoing transactional instructions from/to client and to/from agent/depository Adherence to client Service Level Agreements/Descriptions (SLA/SLD) Inquiry management, with attention to established timelines Strict observance of Daily checklist, procedural and internal/regulatory/compliance/operation risk controls Status and resolve cash and/or stock breaks between custody and client or agent/depository and custody along with any additional risk data as assigned by team lead/manager Elevate potential risk – client, counterparty, reputational, financial, regulatory, etc. to team leads/manager with immediacy Review OFAC/Sanction blocks of transactional activity and complete Compliance/Regulatory/Continuing Education ahead of assigned deadlines Develop solutions with peers, service partners and IT to continually improve quality of service delivery, reporting, and transactional flows with attention towards cost effectiveness, automation, system enhancements, new products/services and efficiency. Involvement in client/agent/depo asset migrations, system UAT, industry changes, business continuity support, audits or significant productions changes (note: will include some weekend coverage across the year in each location) Actively participate and contribute to personal development and career development alongside the team lead/manager – training courses, research, bank initiatives, etc. Enrich fail, trade status, and/or client reporting and communicate with service partners towards delivering premier services, developing relationships, and improving the client experience; locally and with global peers across client facing and operational teams Cross train with peers across global and US activities covered within the Settlements and Cash team for seamless solution delivery Actively participate in projects – independently, with team/partners, and regionally
Minimum Required Qualifications :
College/University degree Experience in the financial services industry at a bank/broker, service provider or as a custodian Familiarity with the trade lifecycle and industry participants to the process flow Fed direct participant experience – 1 years or more
Preferred Qualifications :
SWIFT messaging - securities, cash, reporting and FX message types Client or Operational support experience for global agent network Background in project lifecycle participation, delivery and reporting Fedwire or CHIPs funds transfer experience DTC experience (or global depository, ICSD) ally protected status.
Securities Services – Banking Service Operations
Location: Chesterbrook
Within Securities Services, and among the business units and professionals supporting clients globally, is the Custody Settlements and Cash Operations team. Our team supports client’s post-trade processes including trade and global CCY cash settlement along with foreign exchange, mutual fund and physical certificate management. This role is based in the Chesterbrook, PA office and is part of a dual-office structure with peers located in the Lisbon, Portugal offices of Securities Services. The team manages the daily flow of financial transactions, settlement and reporting between the client and the local market agent or international/central securities depositories. While the team’s volumes and daily activity is weighted towards the US market (DTC/NSCC, Fed), our coverage includes the fast-growing global custody offering that is supported across regions.
Candidate Success Factors :
Candidates will be measured on the following four performance drivers that will dictate how individual impact is considered on the Americas platform:
Results and Impact Leadership and Collaboration Client, Customer and Stakeholder Focus Compliance Culture and Conduct
Responsibilities :
Status (before, on, and post contractual settle date), troubleshoot and settle transactions with service partners, external clients, agents/depository, and/or counterparties towards trade fail mitigation Daily monitoring and deadline driven processing of incoming and outgoing transactional instructions from/to client and to/from agent/depository Adherence to client Service Level Agreements/Descriptions (SLA/SLD) Inquiry management, with attention to established timelines Strict observance of Daily checklist, procedural and internal/regulatory/compliance/operation risk controls Status and resolve cash and/or stock breaks between custody and client or agent/depository and custody along with any additional risk data as assigned by team lead/manager Elevate potential risk – client, counterparty, reputational, financial, regulatory, etc. to team leads/manager with immediacy Review OFAC/Sanction blocks of transactional activity and complete Compliance/Regulatory/Continuing Education ahead of assigned deadlines Develop solutions with peers, service partners and IT to continually improve quality of service delivery, reporting, and transactional flows with attention towards cost effectiveness, automation, system enhancements, new products/services and efficiency. Involvement in client/agent/depo asset migrations, system UAT, industry changes, business continuity support, audits or significant productions changes (note: will include some weekend coverage across the year in each location) Actively participate and contribute to personal development and career development alongside the team lead/manager – training courses, research, bank initiatives, etc. Enrich fail, trade status, and/or client reporting and communicate with service partners towards delivering premier services, developing relationships, and improving the client experience; locally and with global peers across client facing and operational teams Cross train with peers across global and US activities covered within the Settlements and Cash team for seamless solution delivery Actively participate in projects – independently, with team/partners, and regionally
Minimum Required Qualifications :
College/University degree Experience in the financial services industry at a bank/broker, service provider or as a custodian Familiarity with the trade lifecycle and industry participants to the process flow Fed direct participant experience – 1 years or more
Preferred Qualifications :
SWIFT messaging - securities, cash, reporting and FX message types Client or Operational support experience for global agent network Background in project lifecycle participation, delivery and reporting Fedwire or CHIPs funds transfer experience DTC experience (or global depository, ICSD) ally protected status.