Job Description

We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.

* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview:
EMEA Securities Settlements team perform various functions like pre-matching, settlements, sufficiency, Depot Transfers and controls functions like margin, queue/break management, FOP and margin payments for few entities. We work on both equities and fixed income products. Maintaining client/broker relationship and keeping the market, credit, liquidity and operational risk to its minimum is key to the success. Teams interact with several different internal teams which are part of trade lifecycle and also with various counterparties externally to match/settle the trades.
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This is a great opportunity for someone looking to gain experience in the world of securities. The associate will be part of the Securities settlements team working in a fast paced and time sensitive environment.
The successful candidate will be responsible for pre-matching, matching, Trade Narrations and timely settlement of trades-value date & failing trades, stock loan reconciliation, Depot Management functions across CREST, DOMESTIC & European markets.
Although working individually, the success is measured at a team level, with internal targets and results being measured against the Line of Business external peer group on a regular basis. The level error free settlements, adhering to the regulators requirements Segregation Violations, Fines) and our success in the market versus our peer group is a key barometer in measuring the control of risk around the process.
The key to success is to ensure we settle all equity trades within tight deadlines as prescribed by the SLA. In a deadline driven environment, turnaround, accuracy and escalation are of high importance as we are at risk to market movements, traders P & L, client relationship, and the banks reputation including settlement risk. Sense of urgency and attention to detail are pivotal competencies required to perform the functions.
Responsibilities*
Pre matching & matching trades on VD-1 & VD with counterparties. Trades which are unmatched are to be identified, researched and actioned for resolution.
Reduce failing trades and increase settlement efficiency
Settle failing trades by liaising with various external clients, brokers, local agents & custodians
Reduce intercompany failing trades across.
Ensure Capital exposure is as per the levels fixed by the regulators
Ensure that there are no segregation violations as per SEC regulations and fines imposed by regulators are well below prescribed standards
Prioritize on reducing failing SELL trades to mitigate the risk of buy-in threat to the firm
Take necessary steps to ensure that Buy-in threats are avoided to the firm as a result of failing trades
Ensure Depot transfer requests are entered in the system are settled on time by liaising with Custodian, Client services
Ensure that breaks pertaining to stock loan are resolved within defined timelines
Researching on trades which are not recognized by CP and checking is it a valid and following the escalation procedure to make sure that trade settled on the same day or cancelled
Perform telephone confirmations on transactions due for settlement/matching
MIS, reporting of operational and trading exposures to management.
Responsible for clearing of items on the daily exception accounting reports
Maintain established productivity levels as per SLA.
Ensure that all established procedures are followed.
Meet or exceed all deadlines given as per SLA.
To be flexible in their attitude and approach, and be willing to work extra hours during the week with overflow of volume and to provide cover for holidays planned and unplanned.

Requirements*
Education: Graduate/Post Graduate
Certifications If Any: NA
Experience Range: 4-6 yrs
Foundational skills:
Excellent organizational skills are required with the ability to prioritize daily workload, work accurately and efficiently under pressure.
To be able to communicate effectively
Desired skills: Flexible
Education: Any Graduate
Industry: Banking

Skills Required