FIC Settlements Analyst

ICBC Standard Bank Plc; City Of London; Hybrid; GBP 45,000 - 65,000; Full time

Job summary

A leading financial markets and commodities bank in London is looking for a FIC Settlements Analyst. This role involves managing day-to-day settlement activities and ensuring accuracy in transaction processing while providing exemplary service to clients. Candidates should have strong knowledge of securities, FX, and OTC derivatives, as well as excellent interpersonal skills. Hybrid work options are available, along with various employee benefits.

Benefits

Financial market-based pay

Discretionary annual bonus

Pension contribution 10%

Hybrid working options

Private medical insurance

Health and fitness subsidy

Development opportunities

Qualifications

• Good settlement knowledge across Securities, FX, Money markets & OTC derivatives.
• Understanding of FCA rules and regulations or equivalent.
• Understanding of risk and control.
• Emerging markets Excel skills.

Responsibilities

• Review and action all intraday exception queues and prioritize by deadline.
• Liaise with counterparties for un-confirmed trade instructions.
• Perform a safe settlement process for counterparties when requested.
• Ensure all new or amended client standard settlement instructions are validated.
• Perform daily reconciliation of cash exceptions with full narrations.
• Follow up on failed trades with counterparties.
• Build and maintain relationships with key stakeholders.
• Provide high levels of client service to internal and external clients.
• Report risk incidents and assist with investigations.

Skills

Settlement knowledge across Securities, FX, Money markets & OTC derivatives

Strong interpersonal skills

Attention to detail

Client service mindset

Global mindset

Resilience

Results-orientated

High level of integrity

Job description

Overview

FIC Settlements Analyst

The Operations department is responsible for ensuring the complete end-to-end processing of the Bank's transactions and services. They are responsible for ensuring that the appropriate control framework exists to ensure the accuracy of this processing as well as the recording of this in the Bank's books and records. Operations are also responsible for the accurate and timely reporting of the Bank's transactions to multiple regulatory stakeholders globally.

The Operations department performs the following functions:

• Trade Support
• Financial Settlements
• Physical Settlements
• LME Trade Clearing Services
• Clearing and Vaulting Services
• Structured and Banking Products support
• Facilitation of trade finance and documentary credit products
• Confirmations
• Payments Sanctions Screening
• Collateral Management
• Operations Control
• Balance sheet substantiation
• Nostro production and reconciliations
• Risk and control oversight and monitoring
• Regulatory Operations
• Cash, Interest Claims and Nostro management
• Brokerage Services
• FX, money market, NDF and OTC derivative settlements
• OTC derivatives and securities confirmations

What you'll be doing

The primary purpose of this role is within the Settlements function as part of the FIC Settlements team.

The FIC Settlements team is part of FIC & Banking Operations and is responsible for managing the day-to-day activities related to Settlements & providing Transactional Support Services across products.

The team is made up of two functions:

• Settlements
• Transactional Support Services (TSS)

• Security processing (confirmations & settlements) Custody settlements
• FX processing (confirmations & settlements) Money Market and OTC derivative (un-cleared) settlements Exception & Fails management

The team operates across London and New York hours and, depending on the functions, the job holder may be required to remain on call to perform ad hoc tasks on a rotational basis.

Key Responsibilities

• Review and action all intraday exception queues. Prioritize exceptions by the currency/market deadline and value date.
• Liaise with counterparties for any un-confirmed/un-affirmed trade instructions; escalate to the Business as required.
• Perform a safe settlement process for specific counterparties if requested by business and approved by Operations senior management and the Credit Department.
• Ensure that all new or amended client standard settlement instructions (SSIs) have been validated in line with the Operations Control Framework before instructions are released.
• Perform a daily reconciliation of all outstanding cash exceptions and provide full narration detailing the reason for the exception.
• Follow up with counterparties for any failed trades.
• Build and maintain relationships with key stakeholders including the Business and the Risk, HR, IT, Compliance, Legal and Internal Audit departments.
• Provide the highest level of client service when dealing with both internal and external clients of the bank.
• Report all risk incidents and/or client dissatisfaction to Operations Control within 48 hours of identification. Where necessary assist Operations Control with the investigation of these incidents

What you'll need to be successful

Experience required to successfully perform the role:

• Good settlement knowledge across Securities, FX, Money markets & OTC derivatives.

Knowledge, technical skills and expertise

• Understanding of FCA rules and regulations or equivalent
• Understanding of risk and control
• Knowledge of emerging markets Excel skills

Personal attributes

• Global mindset
• Resilience
• Client service mindset
• Strong interpersonal skills
• Attention to detail
• Results-orientated
• High level of integrity

The role would suit someone who is:

• Able to navigate complexity
• Able to deliver well under pressure

Why should you join us?

ICBC Standard Bank Plc (ICBCS) is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and markets. We benefit from a unique Chinese and African parentage and an unrivalled global network and expertise.

We're headquartered in London, with operations in Shanghai, Singapore and New York.

We're a diverse and close-knit global team. We put people first, giving talented, self-driven professionals the flexibility, rewards and freedom to grow their expertise and realise their potential.

Our vison statement, "Be Yourself, Succeed Together" underpins our drive for an open and transparent culture which values difference, enabling everyone to thrive whilst being themselves. We have an active E, D&I forum and we're growing other employee network groups, including for women and neurodiversity.

We're committed to the principle of equal opportunities. All applicants will be treated equally and will be considered on their merits and skills without discrimination.

What's in it for you?

• Financial market-based pay based on skills and experience, discretionary annual bonus, pension contribution 10% (employee contribution 5%), travel insurance, life assurance and income replacement insurance.
• Hybrid working the option to work remotely up to two days per week, depending on the role.
• Family - 6 months fully paid maternity leave and enhanced shared parental leave. Coaching for family leave returners and access to emergency care via My Family Care. Miscarriage and menopause policies.
• Wellbeing - private medical insurance, Bike2Work scheme, health and fitness subsidy, holiday exchange and an Employee Assistance Programme.
• Community paid volunteering leave and Give As You Earn scheme. Vibrant CSR and engagement forums and fundraising for our charity partners.
• Development a suite of opportunities to build the skills you need to excel in your role

If you're excited about becoming part of our team, get in touch. We'd love to hear from you!

ICBCS has appointed Robert Walters Outsourcing (RWO) to manage its recruitment process and Preferred Supplier List (PSL). Unsolicited CVs sent directly to ICBCS or its staff from non-PSL agencies will not be accepted and no fees will be paid for such submissions.