Fixed Income Operations

2 weeks ago

London, United Kingdom TD Securities Full time

TD Bank Group

Headquartered in Toronto, Canada, with more than 85,000 employees in offices around the world, The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD offers a full range of financial products and services more than 25 million customers worldwide through three key business lines:

· Canadian Retail including TD Canada Trust, Business Banking, TD Auto Finance (Canada), TD Wealth (Canada), TD Direct Investing and TD Insurance

· U.S. Retail including TD Bank, America’s Most Convenient Bank, TD Auto Finance (U.S.), TD Wealth (U.S.) and TD’s investment in TD Ameritrade

· Wholesale Banking including TD Securities

The Toronto-Dominion Bank is a chartered bank subject to the provisions of the Bank Act (Canada). It was formed on February 1, 1955 through the amalgamation of The Bank of Toronto, chartered in 1855, and The Dominion Bank, chartered in 1869.

Business Context

The Fixed Income Settlements team is part of the broader Fixed Income Operations team. The team plays a critical role in the trade life cycle, through ensuring that all Fixed Income trades are confirmed and matched with client trade instructions in a timely manner and that fails are resolved quickly through appropriate escalation.

Given the significant volume and monetary value of trade activity, it is imperative that the successful candidate excels in a fast pace, team-oriented environment.

In time the candidate will be expected to apply their knowledge and expertise across the entire fixed income trade life cycle.

Position Overview

  • Front to back operational processing and settlement of Mortgage-Backed Securities (MBS) back to back and client facing trades.
  • Deliver an effective settlement process for this product (newly traded out of London) in partnership with colleagues in Singapore and New York.
  • Responsible for the pre-matching, fails management and reconciliation of US bond trades that are settling in the US domestic market.
  • Work in partnership with the Trade Management team to ensure that trades are accurately instructed to the market in a timely manner.
  • Resolve all unmatched trade exceptions through communication with clients, internal teams and with Sales & Trading.
  • Complete daily nostro and depot reconciliations.
  • Issue interest claims and process incoming claims.
  • Promptly deal with customer inquiries via phone and email and deliver a world class customer experience
  • Build strong relationships with clients, Operations teams and sales/trading, becoming a trusted partner
  • Participate in projects impacting Fixed Income including new product implementation, new platforms or new regulations where required
  • Identify where processes can be streamlined and automation implemented
  • Responsibility to ensure own documentation and procedures are kept updated
  • Perform sundry duties as requested by management
  • Opportunity to train and coach other team members

Other Qualifications/Skills/Experience:

  • Understands the lifecycle of a Specified Pools trade and Secondary and New Issue CMOs
  • Knows what Accrual periods are on MBS Securities
  • Understands how to manually calculate P and I on a Trade
  • Knowledge of the Sales Allocations and Trade Confirmation process
  • Understands what a Factor is and how it is used in MBS
  • Understands what a Blackout period is and what happens when a trades settles during this Blackout Period
  • Knowledge on what a TBA is and how the process works (as I see this coming in the future)
  • Ability to maintain high standards in a fast-paced and busy environment
  • Impeccable analytical skills, recognizing why an issue has occurred and isolating the root cause
  • Excellent communication and interpersonal skills are imperative whilst dealing with internal and external stakeholders, including Front Office and senior Operations colleagues
  • Excellent organisational and time management skills

Shared Commitments

Executives promote adherence to TDBG’s vision and purpose to be the better bank, and enrich the lives of customers, communities and colleagues. As part of the general management of their function, Executives are accountable to deliver against TD's five shared commitments:

Ø Think like a customer; provide legendary experiences and trusted advice

Ø Act like an owner; lead with integrity to drive business results and contribute to communities

Ø Execute with speed and impact; only take risks we can understand and manage

Ø Innovate with purpose; simplify the way we work

Ø Develop our colleagues; embrace diversity and respect one another

Inclusiveness

At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected, and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live and serve. If you require an accommodation for the recruitment/interview process (including alternate formats of materials, or accessible meeting rooms or other accommodation), please let us know and we will work with you to meet your needs.

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