What are the responsibilities and job description for the NMC_000382 - Clearing & Settlements Analyst (W2) position at New Millenium Consulting?
One of our Financial Clients in New York, is urgently looking for Clearing & Settlements Analyst.
Scope:
The Listed Clearing team is responsible for the settlements, controls, cash management, and client service of listed products including, but not limited to DTC cash Equity, Stock Borrow/Loan (US & Foreign), options clearing in OCC and Equity Tri-Party.
Essential duties and responsibilities
- Day to day supervision of a team of outsourced/offsite support teams to ensure quality and controls of transactions are performed
- Ensure all positions/balances in the firms DTC/OCC account are in synch with internal systems and bookings
- Must have thorough understanding of US clearance market practices
- Ensure all clearinghouse margin requirements are met and efficiently maintained.
- Responsible for problem resolution of all transaction exceptions and failures that have been escalated to the team
- Liaise with the company's affiliates who are using the company as their US clearing provider
- Monitor all OCC activity including CMTA flow and exercises/assignments for shares held in custody
- Validate firm’s outbound invoices for services rendered and oversee the allocation of clearinghouse charges received
- Prepare/validate recurring management reporting and metrics
- Participate in change management initiatives with Front Office personnel to expand service and products
- Coordinate audit and regulatory requests and responses
Requirements
- 3-5 years’ experience in Financial Services Industry (Banking/Brokerage Support preferred)
- Demonstrated knowledge of DTC (Depository Trust Company) settlements
- Working knowledge of OCC (Options Clearing Corporation) processing
- Broadridge Shadow platform knowledge a plus