Banking Finance Trader

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Job description

One of our major banking clients is looking for a Banking Finance Trader
Length: Contract term is 6 months with a possibility
Location: Milwaukee, WI USA - 100% remote for now
Hours: 40 hours/week, Monday-Friday, shift could fall between 7-3, 8-4 or 9-5, albeit not on a rotating basis
LOB: Global Asset Management

'The start date of this job is flexible and in order to find the best candidate the job may remain open much longer than the date mentioned on this posting... or you may be asked to start sooner than the expected start date if you are able to do so !'

Please read the job description below. If this interests you, please send a MS-Word version copy of your resume (ASAP) along with a telephone contact number: E-mail to

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The recruiter in charge of this role is Len Pierre

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Requirements:
Role Mandate:
Securities Lending Associate provides post trade settlement services including loan and return settlement, collateralization, recalls and reallocations, asset maintenance, corporate action processing and balancing, and allocation of cash collateral, client reporting, and reinvest fund accounting for Bank GAM Agency Lending. This requires familiarity with all types of securities and their specific processing requirements and to have a good understanding of how each security type settles and accrual calculations.
The Associate must monitor daily the status of trades in progress and communicate with securities lending traders, borrowers, colleagues, investment managers, and other custodial banks. The Associate assists the manager in ensuring volume goals, turnaround times and quality expectations are met, while maintaining strict adherence to control procedures and compliance regulations. Escalate/assist the manger with complex problem resolution. Fulfill routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/requests and/or audit/reconciliation activities. Analyze and resolve more complex issues efficiently and effectively in accordance with Bank and industry standards. Recommend/implement process improvements.

Role Responsibilities Include (but are not limited to):
A. Product and Process
B. Risk and Control
C. Business Performance Management

A. Product Process
1. Monitor, reconcile, balance and post activity for the DTC (The Depository Trust Company) and FED (Federal Reserve Bank) and International securities
2. Monitor and review all corporate actions related to securities out on loan and processes related activity. Must be able to understand all types of mandatory and voluntary corporate actions and determine when the corporate actions must be processed on the system
3. Review Recall and/or re-allocate securities as required, making decisions on which loans securities need to be recalled or reallocated and minimize exposure to potential Buy-In's
4. Post cash transaction activity on the trust accounting system
5. Accurately build securities and maintain security master
6. Ensure loans are appropriately collateralized. Calculate margin requirements to ensure compliance with internal and client guidelines, and provide reporting to management, audit and clients.
7. Update rebate rates on securities lending system and disseminate information to the borrower community
8. Effectively communicate with borrowers, third party custodial banks, lenders, and portfolio managers, and colleagues throughout Bank Global Asset Management
9. Provide daily reconciliation of positions out on loan
10. Generate accurate yields and PVAM (NAV) of collateral reinvestment accounts
11. Generate and distribute client statements
12. Provide support for department reporting needs
13. Assist the manager by performing activities such as coordination and scheduling of work, resource forecasting, quality control, training, team coaching and guidance, research and problem resolution.
14. Research special items and complete special projects as needed
15. Build productive relationships within line of business (LOB) and other functions through responsiveness and support. Proactively work with others (i.e., on own team, other operational areas, or with the internal business partner and/or external customer) to ensure delivery of timely, quality and efficient fulfillment activities.
16. Ability to effectively prioritize work and adapt quickly to shifting priorities

B. Risk and Control
1. Escalate issues that require resolution by the manager, as per guidelines
2. Identify potential risk situations/impacts, and make recommendations or escalate to the manager
3. Review transactions and requests for compliance with regulatory and Bank requirements, as required.
4. Monitor production logs and schedules to ensure key controls are followed and exceptions are actively pursued; escalate to the manager as appropriate.
5. Ensure all appropriate authorizations/approvals are obtained in accordance with policies and controls.
6. Ensure adherence to all aspects of First Principals, Our Code of Business Conduct, and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, policies and procedures for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
7. Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and ensure compliance with the Bank's policies and procedures.
8. Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.

Qualifications:
Nice to Have Skills:

• 3+ years of related experience in asset management, wealth management, trust operations management or operations securities

If a candidate doesn't have this experience in the field, a degree in business or finance with sound logical thinking skills could be considered.

• Strong knowledge and understanding or the business unit's key products and services, processes and controls which includes Securities Lending, Custody operations, and Fund Accounting process.
• Strong understanding of business unit's risk and regulatory requirements
• Strong knowledge of departments systems and applications including DTCC, FED, BNY Mellon, Loanet, Bloomberg

Soft Skills:

• Strong analytical and problem-solving skills
• Strong investigation skills
• Strong prioritization skills
• Strong organizational skills
• Good customer service and relationship management skills
• Strong interpersonal skills
• Good change leadership skills
• Good written and oral communication skills
• Ability to multi-task in a fast paced environment

Please note that this is the most up to date version of job description available at this time - During Client Interview you will receive additional information - variance may apply !

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