Settlements Analyst

6 months ago

Belfast, United Kingdom TP ICAP Full time

Role Overview

The Settlements team are responsible for supporting a multitude of Fixed Income and Cash Equity broking desks in several EMEA locations including performing a variety of Settlement Middle office tasks to ensure both timely and accurate matching of trades within a controlled environment. The team settle principal bond, equity & money market instruments (CDs, Commercial Paper, notes) trades via Euroclear or in 30+ local domestic markets utilising an agent bank network (BNY Mellon, BNP Paribas, Deutsche Bank etc). The company have no trading position or portfolio & so we deem this ‘Matched Principal’ (buys & sells are matched exactly) which is also sometimes called turnaround trading. ICAP have a small stock loan business which is processed by the Settlements team and can be a manually intensive task. Also in this team we have resource that looks after corporate actions (mainly coupon & dividend payments) that arise due to the principal trading.


The main function of the team is to ensure that all trades are matched with clients so that the purchases & sales settle on time with zero cost to the company, as trade sizes are very large & carry associated risks. The team also undertake nostro & depot reconciliations for the associated accounts . Most staff work 8am to 5pm however we require some coverage from 7am and then until 8pm to cover US settlements. The team implements a limited shift rota to cover these extended hours.

Role Responsibilities

Timely matching of trades and resolution of any exceptions same day 

Validation of front office amendments/cancellations where necessary 

Provision of first line support to brokers for any settlements queries 

Escalation any issues (where necessary) to management 

Collaboration with peripheral teams to ensure the data is correct to support the trade flow 

Daily review of cross desk trading to ensure a flat book and escalation any residual balances 

The maintaining and clearing exception queues in a timely and efficient manner 

Daily reconciliations are performed and exceptions that arise resolved

To provide support on any relevant project, under the direction and oversight of your Manager 

To work with team manager, to fulfil the implementation of any changes necessary within the Settlements function in relation to regulatory and business requirements 

To provide support for any internal or external audits as required 

To support our Technology teams in technical developments, including UAT and post-release support 

Fulfil any additional or ad hoc duties as required to meet the needs of our business 

Experience / Competences

Essential

Demonstrates excellent attention to detail, possesses high organisation skills & a proactive approach

Demonstrates strong analytical ability and problem solving skills

Demonstrates the ability to work effectively in a high pressure environment

Highly effective written & oral communication skills; adapts communication style to suit audience

Shows evidence of being comfortable working in fast paced or pressured environments

Skilled in Microsoft applications software (Word, Excel, PowerPoint, Outlook)

Desired

Knowledge of financial markets

Previous experience in a similar organisation

#TPICAP #LI-Hybrid #LI-ENT

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