What are the responsibilities and job description for the Reconciliation Specialist position at Ampstek?
Role: Reconciliation Consultant
Location: Prudential Center, 111 Huntington Ave, Boston, MA
Job Type: Contract Job
Job Description:
Key Skill:
End to end understanding of cash, securities, and position reconciliation
Strong knowledge of break types
Financial Instruments Knowledge
• Equities, Fixed Income, FX, Derivatives (Futures, Options, Swaps)
• Corporate actions lifecycle and settlement impact
• Margin, collateral, and funding-related cash movements
PRINCIPLE RESPONSIBILITIES:
List descriptors in order of importance. Aim for 8-10. Sub-bullets can be used to elaborate on duties.
Supervises the daily activities performed by the offshore hub team.
Responsible for training offshore hub team members. Provides regular feedback.
Ensures that all reconciliation activities adhere to organizational policies and industry best practices.
Delegates daily tasks to the offshore operations team and escalates aged exceptions to the Reconciliations manager as needed.
Monitors performance metrics and identifies trends, measures productivity and implements process enhancements that contributes to overall operational efficiency
Builds relationships with all internal and external stakeholders as needed
Accountable for the performance and results of the offshore team
Engages technology for process improvement as needed
Identifies risks and implements appropriate controls to mitigate those risks
Works on projects and deliverables independently and drives change
Encourages open communication, collaboration and knowledge sharing within the team
Updates procedures and ensures team adherence to established procedures
REQUIRED SKILLS, QUALIFICATIONS & EXPERIENCE:
Bachelor’s degree in accounting, Finance, Business Administration, or a related field is typically required.
5-6 years of financial services experience
Excellent communication skills
Experience with overseeing offshore teams
Knowledge of reconciliation best practices and platforms preferred
Strong interpersonal skills for managing diverse teams and stakeholders.
Ability to multitask and work under pressure