Securities Lending Associate

3 weeks ago

Boston, United States eSecLending Full time

COMPANY:

eSecLending is a global securities lending manager and a leading provider and administrator of customized securities lending programs. Our programs attract some of the world’s largest and most sophisticated asset gatherers, including pension funds, mutual funds, investment managers and insurance companies. Over the past six years, the company has auctioned more than $1 trillion in assets and has achieved significant growth in its client base, lendable assets and assets on loan. The firm awards principal securities lending business through a competitive auction process that has provided clients with higher returns compared to traditional program structures and improved transparency and objective criteria upon which to make decisions. eSecLending is a dynamic and rapidly growing company, employing more than 100 associates in our Boston, London, and Burlington, VT locations. More information about eSecLending can be found at www.eseclending.com.

 

JOB DESCRIPTION:

The Securities Lending Associate (SLA) will provide direct assistance to eSecLending’s clients and broker/dealer communities in Europe, North America and Asia. This position is responsible for booking sell notifications, monitoring past due recalls and receipt and issuance of potential buy-in notices. This includes ensuring that all sell and recall processes for exclusive and discretionary securities lending programs are in compliance with established procedures. The SLA will also take loan and return instructions from the brokers and ensure accurate trade bookings internally as well as at the custodian level.   Candidate will have considerable interaction with the broker/dealer community and custodians and will be responsible for following up on settlement of returns, recalls and sells throughout the shift. Candidate will be expected to escalate urgent settlement and buy-in issues to their supervisors in a timely manner. The candidate will need to develop and establish effective positive working relationships both internally and externally to successfully perform the job.  


RESPONSIBILITIES:

  • Process and track trade notification from lender’s, investment managers and/or lender’s custodian(s) within established timeframes.
  • Ensure the timely and accurate distribution of recall notices to the borrowers Track and monitor open recalls and provide follow up as needed; escalate any sensitive issues with Supervisor.
  • Ensure daily global operational processes and procedures efficiently and effectively reduce exposure, while providing quality service and compliance with individual lender guidelines and risk parameters.
  • Process sell fail claims; maintain tracking log and process SPO payments/Wires to close out claims.
  • Develop, maintain and leverage borrower relationships to provide quality services by determining and adapting to the changing requirements of borrowers.
  • Support other operational business units as needed.
  • Optimize current procedures and processes to greater efficiency.

QUALIFICATIONS:

  • BS/BA preferred; preferably in Accounting, Economics, Finance, or related field.
  • 2 years related work experience.
  • Proficient in MS Office (specifically Word and Outlook)
  • Demonstrated success with detail-oriented work.
  • Must be capable of managing multiple tasks at the same time.
  • Requires excellent oral and written communication skills.
  • Works well in a fast-paced, and deadline driven environment.
  • Prior securities lending settlement experience a plus.

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