Settlement Specialist

2 weeks ago

Charlotte, United States Calculated Hire Full time

Settlements Specialist

Hybrid - Charlotte, NC

Contract (W2), Weekly Pay (40 hours/week)

Desired Start Date: June 2024


As a Settlements Specialist, you will be integral to the team that manages the operational processes involved in settling cash-based trades for U.S. assets. This role requires a highly organized individual with a keen eye for detail and a strong understanding of operational workflows in a banking environment.


Responsibilities:

- Execute transactions and settle trades of U.S. assets, ensuring timely and accurate processing.

- Maintain and update transaction records and documentation in compliance with regulatory and internal policies.

- Collaborate with various teams to troubleshoot and resolve settlement issues.

- Use advanced Excel skills to manage and analyze data related to trade settlements.

- Ensure compliance with all legal, regulatory, and operational risk controls.

- Responsible for daily DTC settlement and fail control processing across domestic settlement markets for all DTC-eligible product types.

- Monitor both internal and external systems related to trade settlements from both trade clearance and operational risk standpoints.

- Act as a liaison between settlement and various internal and external clients/business partners (Middle Office/Sales, Securities Finance, Compliance, Repo/Funding Desk, counterparty back offices, vendor contacts).

- Maintain a high level of service between settlements and the functional areas we support.

- Lead or participate in moderately complex initiatives and deliverables.

- Contribute to large-scale planning related to process, procedures, and efficiencies with internal and industry-related initiatives.

- Identify and recommend opportunities for process improvement and risk control development.

- Mentor and assist analysts.

- Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.

- Provide subject matter expertise on projects along with internal and industry-related initiatives.

- Review and analyze functional operational tasks that require research, evaluation, and exercise independent judgment to guide the deliverable.

- Present recommendations for resolving complex situations and exercise independent judgment while developing expertise on functions, projects, internal and industry-related initiatives.


Requirements:

- Bachelor’s degree in finance, Business Administration, or a related field.

- Minimum of 1 year of experience in banking, specifically in roles exposed to capital markets and operational processes.

- Strong organizational skills with the ability to handle multiple tasks simultaneously in a fast-paced environment.

- Excellent proficiency in Microsoft Excel, including use of formulas, pivot tables, and data visualization tools.

- Demonstrated understanding of financial markets and transaction lifecycle.

- Effective communication skills, both written and verbal, with the ability to articulate complex information clearly and succinctly.


Preferred Qualifications:

- 2+ years of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education.

- Experience with DTC settlements or a similar clearing corporation.

- Working knowledge of Broadridge systems including GLOSS, Impact, and BPS.

- BS/BA degree in Finance or related field.

- Series 7 or Series 99.

- Strong accounting background with knowledge of reconciliation.

- 2+ years of experience in the securities industry.

- Ability to demonstrate effective analytical skills.

- Detail-oriented with effective organizational skills.

- Energetic individual that works well under pressure in a team environment with demanding deadlines.

- Ability to identify areas of improvement and formulate plans to effect positive change within a team environment.

- Working knowledge of trade settlement including DTCC and FED eligible securities.

- Working knowledge of Prime Broker operations.

- Working knowledge of Stock Loan and Repo process.

- Working knowledge of industry Regulatory/Buy-In standards and deadlines.

- Proficient in Microsoft Office, especially MS Word, MS Excel, and MS Access.

- Excellent communication and interpersonal skills.

- Highly motivated and able to react to change quickly.

- Able to analyze and interpret data from both statistical and efficiency standpoints.

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