Settlements Analyst 1

Role Overview

The Settlements team is responsible for supporting a multitude of Fixed Income and Cash Equity broking desks in several EMEA locations, performing a variety of Settlement Middle office tasks to ensure timely and accurate matching of trades within a controlled environment. The team settles principal bond, equity & money market instruments (CDs, Commercial Paper, notes) trades via Euroclear or in 30+ local domestic markets, utilising an agent bank network (BNY Mellon, BNP Paribas, Deutsche Bank, etc). The company has no trading position or portfolio and so we deem this ‘Matched Principal’ (buys & sells are matched exactly) which is also sometimes called turnaround trading. ICAP has a small stock loan business which is processed by the Settlements team and can be a manually intensive task. Also, the team looks after corporate actions (mainly coupon & dividend payments) that arise due to the principal trading. The main function is to ensure that all trades are matched with clients so that the purchases & sales settle on time with zero cost to the company, as trade sizes are very large & carry associated risks. The team also undertakes nostro & depot reconciliations for the associated accounts. Most staff work 8am to 5pm; we require some coverage from 7am and then until 8pm to cover US settlements. The team implements a limited shift rota to cover these extended hours.

Key Responsibilities

• Timely matching of trades and resolution of any exceptions same day
• Validation of front office amendments/cancellations where necessary
• Provision of first line support to brokers for any settlements queries
• Escalation of any issues (where necessary) to management
• Collaboration with peripheral teams to ensure the data is correct to support the trade flow
• Daily review of cross desk trading to ensure a flat book and escalation of any residual balances
• Maintaining and clearing exception queues in a timely and efficient manner
• Daily reconciliations are performed and exceptions that arise resolved
• Provide support on any relevant project, under the direction and oversight of your Manager
• Work with team manager to fulfil the implementation of any changes necessary within the Settlements function in relation to regulatory and business requirements
• Provide support for any internal or external audits as required
• Support our Technology teams in technical developments, including UAT and post-release support

Experience & Competencies

• Excellent attention to detail, high organisational skills & proactive approach
• Strong analytical ability and problem solving skills
• Ability to work effectively in a high pressure environment
• Highly effective written & oral communication skills; adapts communication style to suit audience
• Comfortable working in fast paced or pressured environments
• Skilled in Microsoft applications software (Word, Excel, PowerPoint, Outlook)

Desired Knowledge of financial markets

Previous experience in a similar organisation

Band & Level

Professional / 4

Location

UK - City Quays - Belfast

Inclusivity Statement

We wholeheartedly believe in fostering inclusivity and cultivating a work environment where everyone can flourish, regardless of your personal or professional background. If you are enthusiastic about this role but find that your experience doesn't align perfectly with every aspect of the job description, we strongly encourage you to apply.