FX Settlements Operations Associate

2 weeks ago


Jersey City, New Jersey, United States Whitridge Associates Full time

The Foreign Exchange Operations Coordinator is tasked with overseeing the settlement processes within the Foreign Exchange Services division. This role is crucial in ensuring that all transactions executed with the FX trading desk are finalized accurately and punctually on the designated value date.

Work Schedule:

  • Hybrid Work Arrangement: Office attendance is required on designated mid-week days, while remote work is permitted at the beginning and end of the week. This schedule is adaptable to facilitate team collaboration during in-office training sessions.

Core Responsibilities:

  • Facilitate the prompt settlement of FX transactions conducted through various trading platforms.
  • Enhance understanding of FX trade-related SWIFT messages and the necessary fields for transaction confirmations and payments.
  • Guarantee precise settlements of FX trades according to the Standard Settlement Instructions (SSI) provided by clients and counterparties.
  • Review FX transaction instructions for release on the designated value date.
  • Address trade discrepancies by escalating issues to the FX trade initiation and management team as needed.
  • Identify and implement improvements in post-execution processes through automation or procedural enhancements.
  • Ensure accurate and timely settlements of transactions within the bilateral netting framework.
  • Supervise the SWIFT repair queue for any issues.
  • Monitor and address inquiries in the FX OFAC queue.
  • Validate currency settlement instructions for custody, third-party, and inter-bank counterparties.

Qualifications:

  • Bachelor's degree in a relevant field.
  • Experience in FX Operations, Derivatives, or related Financial Services is advantageous but not mandatory.
  • Demonstrated ability to manage multiple tasks and prioritize effectively.
  • Capacity to work autonomously as well as collaboratively within a team.
  • A proactive mindset towards daily responsibilities and the ability to juggle various tasks.
  • Professional communication skills.
  • Strong client service orientation.
  • Meticulous attention to detail.
  • Proficiency in Microsoft Office Suite, including Word, Excel, and Access.


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