DTC Settlement Team Lead at Eclaro
Charlotte, NC
About the Job
DTC Settlement Team Lead
Job Number: 24-02678
Job Number: 24-02678
Bank on a company that will help you reach your career goals. ECLARO is looking for a DTC Settlement Team Lead for our client in Charlotte, NC.
ECLARO’s client is a diversified financial services company, specializing in investment and mortgage products and services, as well as personal and commercial banking. If you’re up to the challenge, take a chance at this rewarding opportunity!
Position Overview:
ECLARO’s client is a diversified financial services company, specializing in investment and mortgage products and services, as well as personal and commercial banking. If you’re up to the challenge, take a chance at this rewarding opportunity!
Position Overview:
- A DTC Settlements Team Lead as part of Corporate and Investment Banking Operations.
Responsibilities:
- Serve as a touchpoint on issues and current status for the DTC Settlements manager in day-to-day activities.
- Be responsible for daily DTC settlement and fail control processing across domestic settlement markets for all DTC-eligible product types.
- Provide leadership to bring groups together to resolve multi-faceted complex issues.
- Monitor both internal and external systems related to trade settlements from both trade clearance and operational risk standpoints.
- Act as a liaison between settlement and various internal and external clients/business partners (Middle Office/Sales, Securities Finance, Compliance, Repo/Funding Desk, counterparty back offices, vendor contacts).
- Maintain a high level of service between settlements and the functional areas we support.
- Lead or participate in moderately complex initiatives and deliverables.
- Contribute to large scale planning related to process, procedures and efficiencies with internal and industry related initiatives.
- Serve as a leader on projects along with internal and industry related initiatives and be comfortable owning deliverables in a timely fashion.
- Review and analyze complex functional and operational tasks that require in-depth evaluation.
- Monitor regulatory buy-in processes and action accordingly (204, Reg-T, MSRB)
- Leverage buy-in processes to reduce fail obligations and firm risk (seg deficits)
- Monitor CNS obligations and liabilities and liaise with Securities Lending to remediate short positions and fails to receive.
- Monitor Smart/TRACK system for buy-in notices from counterparties.
- Liaise with counterparties to remediate open buy-in obligations.
- Provide coverage for international buy-in obligations.
- Maintain firm policies and procedures relative to street buy-in practices.
- Manage client account onboarding, cash payments, customer service, funding operations, custodial operations, securities settlement services, structured loan operations, general ledger reconciliation, as well as work to resolve confirmation and ISDA related issues
- Identify and recommend opportunities for process improvement and risk control development.
- Exercise independent judgment and resolution to guide the deliverable.
- Resolve moderately complex issues.
- Lead team to meet functional area projects, and process deliverables.
- Leverage solid understanding of functions, policies, procedures and compliance requirements.
- Mentor and assist analysts.
- Collaborate and consult with peers, colleagues, and managers to resolve issues and achieve goals.
Required Experience:
- 4+ years of Institutional Investment Operations experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Qualifications:
- Desired:
- BS/BA degree in Finance or related field.
- 3+ years of experience in the securities industry with emphasis on buy-in and international trade settlement
- Detail oriented with effective organizational skills
- Proficiency in Microsoft Excel is required for analytical purposes (e.g., Pivot Tables, VLOOKUPS, SUMIFS, etc.).
- Basic knowledge of Microsoft PowerPoint is required to support the group's presentations to senior management.
- Strong written and oral communication skills.
- Expert knowledge of DTCC Smart/TRACK system, OW, Settlement Web and Client
- Expert knowledge of buy-in rules for domestic markets including DTC, Fed and physical clearance
- Working knowledge of buy-in rules for international markets including Euroclear, Clearstream, Crest and various local markets
- Working knowledge of Client systems including Gloss, Impact and BPS
- Working knowledge of Prime Broker operations
If interested, you may contact:
Eric McAuley
Eric.McAuley@eclaro.com
(980) 360-1322
Equal Opportunity Employer: ECLARO values diversity and does not discriminate based on Race, Color, Religion, Sex, Sexual Orientation, Gender Identity, National Origin, Age, Genetic Information, Disability, Protected Veteran Status, or any other legally protected group status.