FXMM Settlement NY

Description

The incumbent will be responsible for the following Services within the team:

• Perform end to end processing for products such as FX/MM, Derivatives and Securities booked in the name of Commerzbank New York, and Frankfurt. This includes timely validation of trade bookings, prompt action on Confirmation matching, accurate settlements of trades, cash management, payment clearing, post cash/trade break rectification and internal reporting, etc.
• To ensure all risks associated with operations and settlements are identified, monitored, and resolved promptly.

This position is based in Kuala Lumpur, Malaysia.

Responsibilities

• Maintain the capability for sustainable service to the business with firm controls and efficiencies over the assigned tasks.
• Deepen the skills and knowledge of business processing and technical understanding to the business applications.
• Ensuring teamwork within the unit/department and organization are closely fostered at any one time.
• Analyse and respond to queries from internal and external clients with minimal supervision.
• Achieves the processing turnaround standards as stipulated in the Service Level Agreement between the processing unit and clients.
• Meeting and/or exceeding the expectations in handling complex cases in terms of high-level competency in processing efficiency and accuracy of output.
• Support the implementations and initiatives carried out by the Management and Company/Group.
• Proactively contribute new ideas and concepts to improve operation process.
• Ensuring teamwork within the unit/department and organization are closely fostered.
• The ability to multi-task within the product handling and proactively provide support to the team.

Key activities:

• Ensure trades are booked accurately and settled in a timely manner.
• Perform confirmation matching for Commerzbank New York, and Frankfurt
• Liaise with Front Office, brokers, and counterparties to investigate and resolve operational or settlement issues.
• Perform FX/MM trade booking and confirmation by ensure all open trades and cash breaks are resolved promptly.
• Perform daily activity on CLS (Continuous Link Settlement) platform for CLS member banks and FX Netting via CLS Bank.
• Perform daily activity on OTC Client Derivatives LCH Margin Calls to agree prefunding via the bank's PPS account and EUR/USD margin calls via Apex bookings to mirror collateral movement.
• Monitoring booking on Collateral Management system for OTC, CCP, Repo and Securities Lending and daily exposure.
• Perform daily and monthly checks on transaction reports where applicable.
• Participate in end-to-end disaster recovery and industry testing e.g. regression tests etc.
• Support Group Head in achieving efficiency and effectiveness of the processes within the team through change management and continuous process improvement.
• Support Commerzbank New York, and Frankfurt during KL holiday if it's Monday to Friday working day in New York, and Frankfurt.
• Support additional tasks assigned by Group Head and subject to job rotation.
• System: Calypso, TRAM, Finastra CMS, FXAll, CLS, Bloomberg FSS and ApexCo.

Applicable to Senior Specialist

• This position is responsible for the day-to-day supervision and performance of Settlement team to ensure settlement transaction are processed timely.
• Motivate and guide junior team members
• Act as a source of specialist information to team, other departments and contribute to training and documentation.
• Proactively offer help in project liaison with other departments, provide insight in specialist topics to peers in departments on-need-basis.

Formal education:

University degree or Commercial School Graduate preferred

Skills and Qualifications

• At least 1-3 years experience (Junior Specialist) and 3-5 years experience (Specialist) in similar capacity.
• Strong product knowledge in wide range of financial instruments especially in area of bookings and settlements (such as fixed income instruments, financial derivative products, FX and MM products, structured products etc.)
• Well versed with regional and local market practices on clearing and settlements for various financial products.
• Has experience with the handling of standard documentation for various financial products
• Good understanding of relevant rules as well as internal controls to ensure compliance to local laws/standards as well to head-office requirements.
• Service and customer oriented.
• Good problem-solving skills with the ability to apply up-to-date knowledge and best practices to develop value-added solutions.
• Ability to multi-task, prioritize and manage daily workflow.
• Strong interpersonal and communication skills.
• Self-driven and a good team player.
• Language skills in English essential.
• Experience in supervising team and Mandarin preferred for senior specialist role.
• Adhere with all internal and external policies, and guidelines i.e. ComValues, Culture of Integrity, Code of Conduct, ABC Policy, TRM etc.

Working Hours :

Flexible and able to work night shift to support the US market (New York hours)

Normal: 9.00pm – 6.00am Daylight Savings: 10.00pm – 7.00am