Job Description
Job Description
NOTE: This is a 6 month contract opportunity with the possibility of extending! $24-$26/hr.
This is NOT an IT role. Highly Preferred: BA/BS in Accounting, Finance, Econ, Data/Financial Analytics Math or Business Administration.
NOTE: OPEN to JERSEY CITY, NJ. as well but must be in a commutable distance. Pay: $26/hr.
Pay for Boston: $24/hr.-MUST be in a commutable distance to Boston, MA.
0-2 years experience-entry level.The Ops Specialist – Scl Settlements and Marks Team is responsible for the accurate settlement of lending activity in conjunction with the proper receipt and delivery of cash collateral to our borrowers. The team is responsible for daily mark to market and associated margin calls to our borrowers. The group uses industry automation and best practices to ensure timely break management. The group works closely with Trading to ensure the successful delivery of securities to our borrowers.
Under the supervision of the Settlements and Marks Supervisor, the Settlements and Marks Specialist will work closely with internal and external groups including Trading, Relationship Management, Trade Processing, Corporate Actions, Clients and Borrowers. The candidate will be able to prioritize work with competing deadlines, have an understanding of global markets and adapt to changing market regulations and client parameters.
Quality Assurance/Control
- Ensure timely settlement of trades in various markets with various custodians.
- Maintain proper level of cash collateral for all outstanding loans.
- Ensure time posting of corporate action entitlements.
- Follow up on outstanding items with borrowers, traders and RMs.
- Escalate past due items to supervisor.
- Manage handoff of open London activity daily and ensure timely completion.
- Cross train and cover other desks within lending operations as required.
Transaction Process
- Process daily margin calls with our borrowers.
- Agree exposure figures daily with borrowers and resolve any breaks.
- Work with borrowers to increase automation.
Process Improvements
- Identify opportunities for process changes that result in productivity enhancements or risk reduction.
- Work with supervisor and technology to develop and implement workflow changes to improve processing efficiency.
- Stay up-to-date with evolving industry and regulatory changes impacting the business.
Education and Qualifications
- BS/BA Degree-MUST
- 0-1 years industry experience; securities lending a plus.
- Strong communication skills.
- Strong analytical skills.
- Ability to multitask and prioritize appropriately.
- Understanding of global custody, equity finance, prime brokerage, or securities lending industry.
- Familiarity with Securities Lending applications such as Global One, Equilend, Loanet a plus
- What will the hybrid schedule look like for the selected contractor? 3 days in the office/2 days WFH