Job Family Card - Clearing, Reconciliation and Settlements

Perform clearing activities and related settlement of securities and derivatives including FX and commodities, reconciliations, and processing of asset servicing. Clearing trades involves looking at the records made by the traders when they buy and sell shares or other financial products, and checking that they match the records kept by the people from whom or to whom the shares were bought or sold (the counterparties). Settlements cover everything from preparing the documentation required for a sale, to making sure the firm has been paid for all the shares it has sold and bought.

Job Family Code

BCS

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Job Roles

Card Job Role Description

Job Role

Clearing and Settlements Administrator

Job Family Code

BCS

Job Family

Clearing, Reconciliation and Settlements

Responsibilities

    Make necessary calculations for the buy side and/or the sell side of the trade in order to determine what’s needed from each of them.

    Monitor all buy/sell activity and allocate trades where needed, correctly and timely.

    Handle the delivery processes including, but not limited to, cash settlements, FX delivery and options assignment.

    Prepare the daily trade a reconciliations, Client Money movement and Client Balances.

    Investigate and report unmatched and unsettled trades in the clearing system.

Card Job Role Description

Job Role

Clearing and Settlements Specialist

Job Family Code

BCS

Job Family

Clearing, Reconciliation and Settlements

Responsibilities

    Monitor market clearing deadlines and be able to proactively resolve possible overnight trade defaults.

    Handle trade transaction shortfalls and cash breaks ensuring sufficient margins and recording the transaction.

    Ensure that the actual transfer securities and that sufficient margin is posted or payments are made.

    Compare actual receivables and payables with transactions positioned to be paid/received for the particular value date.

    Confirm matching of documents as per regulations and by matching the document received from the counterpart, reconcile them and sort out any possible discrepancy arising out of the terms of the trade.

Card Job Role Description

Job Role

Clearing and Settlements Manager

Job Family Code

BCS

Job Family

Clearing, Reconciliation and Settlements

Responsibilities

    Develop and oversee implementation of efficient clearing, settlement and reconciliations policies and procedures.

    Maintain and develop relations with core service providers including exchanges, and key client contacts such as clearing counterparts.

    Monitor and control the financial risk by using automated systems and membership in the central clearing and central depository for settling and netting of transactions.

    Ensure clearing, settlement and reconciliations operations are according to rules and regulations while adhering to organisational policies.

    Implement an effective fails management procedure to follow-up on unsettled trades and provide timely solutions ensuring the organisation's profit margin is achieved.

Card Job Role Description

Job Role

Head of Clearing & Settlements

Job Family Code

BCS

Job Family

Clearing, Reconciliation and Settlements

Responsibilities

    Contribute to the formulation of the overall organisation's strategy, in collaboration with others in the executive team, focusing on the organisation's clearing and settlements function.

    Approve and ensure implementation of clearing and settlements function policies and procedures and ensure its efficiency.

    Manage clearing and settlements function and ensures its compliance to regulatory requirements as well as market standards.

    Manage and monitor clearing and settlements function budget for cost efficiency.

    Manage internal and external relationships and represent the organisation in all business matters related to clearing and settlements function.

    Ensure unsettled trades are managed timely to achieve profit margin.

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