Officer Wanted – Apply Now.
Operations: a range of essential and complex services to ensure processes across the bank work as effectively and efficiently as possible
This role exists to provide a service to the Global Markets Businesses (Equity Derivatives, Structured Solutions and Credit Derivatives) by ensuring that the daily, weekly and monthly reconciliations are being performed across all product classes and all systems as required. Ensuring resolution of breaks within set out time frames.
Operational, Credit, Market & Reputational Risk management
The implementation of processes and controls to ensure that recons that reconciliations sent out to stakeholders are done so in accordance with service level agreements.
Contributing knowledge and experience to assess potential control weaknesses in new and existing products and processes on an ongoing basis
Ensuring attention to detail when screening of position and cash reconciliations submitted to stakeholders and the timely escalation of any discrepancies as and when they are encountered.
Stakeholder and Change Management
Maintain relationships with key stakeholders including the Structured Products Confirmations and Settlements area, other GMO business units, GMO Management, the Global Markets trading team, SBG Securities Finance, Product Control, as well as the Operational, Credit and Market Risk areas.
Specific focused regular engagement with Global Markets trading desk and Product Control with a view towards improving service levels
Critical evaluation of all new products and processes including the responsibility for the operational approval of all related activities due to be implemented in the business area.
Accurate and timely reporting of Daily, Weekly and Monthly Management Information to key stakeholders and Management.
Ongoing liaison with Information Technology business partners in order to assess opportunities for the implementation of technological enhancements
Ensuring that any significant operational concerns are escalated to the requirement management levels
Preparation of daily position and cash reconciliation and distribution of recons to relevant stakeholders
Advising settlements or relevant areas what entries needs to be processed for break resolution
Investigate and resolve any discrepancies, raising issues to the relevant MO /FO.
Preparation of Manual Recon templates
Following up of outstanding breaks with settlements, MO and BSD
Working with the settlements team to investigate and resolve any breaks.
Update CODAC (Control First)
Update Daily Stats
Filing of all recon reports or relevant supporting documentation.
Investigating, resolving and responding to any queries.
Managing both personal and group inboxes.
Ensuring adherence of the team to daily processes and procedures including the ongoing upkeep of desk specific procedure manuals including taking accountability for the completion of the daily tasks by directly and indirectly reporting resources.
Ensuring attention to detail, in particular ensuring that the daily position exceptions are corrected timeously, large exceptions on the daily cash (AVA) recons are escalated appropriately and ensuring the longer outstanding items are being resolved in the SLA period.
Providing guidance in product theory, guidance on performing of position and cash reconciliations across the trading desks.
Ensuring resourcing levels are maintained at optimal levels
Implement plans & manage reports
Ensure reporting on daily, weekly and monthly statistical information (MIS) is analysed & understood and that it is sent and communicated to Management.
Monthly submitting of Balance Sheet Substantiation for Structured Products Recons in order for management to review and submit
Prioritisation and monitoring of daily team tasks to ensure delivery to expected levels of service
Project participation of new systems, processes and new products signed off by the NPC
Reporting ad escalation of operational risk incidents and data related concerns
Drive automation process and enhancements of systems.
Assist the Manager with various responsibilities
Each team members individual quarterly & yearly goals are aligned to the strategic objectives of the Global Markets Operations area.
Drive project and other change deliverables with active involvement in all planning, implementation and review phases
Ensure regular feedback is provided concerning strategic projects and other ongoing improvement initiatives is provided with a view to delivering on objectives according to predefined expectations.
Staffing: leave requests to manager are sent early for planning to ensure the departments is adequately staffed.
Ensuring Compliance, housekeeping and audit all in order
Completion of the daily Control First (CODAK) and weekly MIS
Preferred Qualification and Experience
Experience /Requirements Job Function: Global Markets
Job Family: Operations
Years: 3 -5 Years
Good understanding of the broader principles, products and functioning of a large bank’s Global Markets business
Good understanding of Equity and Equity Derivatives
High level ability to work with Excel including Pivot tables.
Understanding of Balance Sheet Substantiation
Understanding of Static data and how it impacts settlements.
Daily review of Cash and Position dashboards
Strong Reconciliation experience (Position and cash)
Building and maintaining stakeholder relationships in functions external to the teams at a supervisory level.
Corporate and Investment banking experience will be an added advantage.
Competency Label: Risk Management
Competency Description: Demonstrates knowledge and understanding of risk management methodologies, tools, governance structures and regulatory requirements for good management of risk.
Proficiency Level: ADVANCED – Mastered the concept, able to act independently, provides guidance and training to others
Competency Label: Product Knowledge
Competency Description: Knowledge of equity derivative, credit derivatives and structured solution products, electronic trading engines, prime brokerage.
Proficiency Level: SEASONED – Applies concepts without requiring supervision, able to provide technical guidance when required
Competency Label: Settlement Process
Competency Description: Knowledge of settlement processes, systems, cut-off times and implications.
Proficiency Level: ADVANCED – Mastered the concept, able to act independently, provides guidance and training to others. Competency Label: Project Management
Competency Description: Ability to plan, initiate, execute, control and close projects related to a relevant function. Proficiency Level: ADVANCED – Mastered the concept, able to act independently, provides guidance and training to others.
PLEASE NOTE: All our recruitment and selection processes comply with applicable local laws and regulations. We will never ask for money or any form of payment as part of our recruitment process. If you experience this, please contact our Fraudline on +27 800222050 or forward to [email protected]