Head of Settlement

Be Myjob Company Limited; Hong Kong; On-site; HKD 900,000 - 1,300,000; Full time

Job summary

Be Myjob Company Limited in Hong Kong seeks a seasoned Clearing & Settlement Lead to oversee full lifecycle operations across multi-market and multi-asset products, including HK equities, A-shares, US equities, futures, options, and bonds.

You will supervise daily reconciliations and transfers, resolve discrepancies, and drive STP improvements, while ensuring SFC/HKEX compliance. The ideal candidate has 10+ years in clearing/settlement and strong leadership and stakeholder management.

Qualifications

• Bachelor's degree or above in Finance, Economics, Business Administration, or a related discipline.
• Minimum 10 years of experience in clearing, settlement or operation within the Hong Kong securities industry.
• Minimum 5 years of experience managing a team, preferably in a cross-functional environment.
• In-depth familiarity with the full lifecycle operation process of multi-market/multi-asset financial products and the Hong Kong regulatory framework (SFC and HKEX rules).
• Deep understanding of clearing and settlement system architecture and operations.
• Strong analytical and problem-solving skill with high attention to detail.
• Excellent communication and stakeholder management skills.
• Fluent in English and Cantonese (written and spoken); Mandarin preferred.

Responsibilities

• Oversee comprehensive clearing and settlement operations across multi-market and multi-asset products.
• Supervise daily reconciliations, fund transfers, and securities settlements; resolve discrepancies promptly.
• Identify, investigate, and resolve clearing discrepancies and failed trades to minimize risks.
• Oversee the processing of corporate actions (dividends, rights issues, stock splits).
• Lead, mentor, and evaluate the Settlement team; set KPIs and foster accuracy and accountability.
• Review and apply technology to improve straight-through processing (STP) rates.
• Ensure compliance with SFC and HKEX regulations and CCASS operations.
• Develop and maintain internal guidelines, business continuity plans, and internal controls.

Skills

Team Leadership

Stakeholder Management

Analytical Thinking

Communication Skills

Education

Bachelor's degree in Finance/Economics/Business Administration

Tools

CCASS

HKEX Regulations

Job description

1. End-to-End Clearing & Settlement Management

• Full-Lifecycle Oversight: Oversee comprehensive clearing and settlement operations across multi-market and multi-asset financial products-including HK equities, A-shares (Stock Connect), US equities, global market equities, futures, options, bonds, structure products and funds-ensuring the accurate transfer of funds and securities
• Daily Operations: Supervise daily reconciliations, fund transfers, and securities settlements; promptly resolve clearing discrepancies to ensure all transactions are settled accurately and on time.
• Issue Resolution: Proactively identify, investigate, and resolve clearing discrepancies (breaks) and failed trades to minimize operational risk.
• Corporate Actions: Oversee the accurate and timely processing of corporate actions, including dividends, rights issues, stock splits, and reverse splits.

2. Department Management & Process Optimization

• Team Leadership: Lead, mentor, and evaluate the performance of the Settlement team. Set clear KPIs and foster a culture of accuracy and accountability.
• Workflow Optimization: Continuously review and apply technology to eliminate inefficiencies and enhance straight-through processing (STP) rates.
• Regulatory Compliance: Ensure all settlement activities are fully compliant with SFC and HKEX regulations, including relevant rules on short selling, position limits, and CCASS operations.
• Framework Enhancement: Develop, implement, and maintain robust internal operating guidelines, business continuity plans (BCP), and internal control mechanisms to safeguard against operational failures and fraud.

3. Cross-Departmental Coordination & External Stakeholder Engagement

• Internal Collaboration: Work closely with front-office trading, risk management, finance, and other departments to resolve cross-functional issues.
• External Liaison: Serve as the main point of contact for external institutions such as HKSCC (Hong Kong Securities Clearing Company), HKEX, custodian banks, and brokers to handle settlement exceptions and disputes.

Job Requirements

• Bachelor's degree or above in Finance, Economics, Business Administration, or a related discipline.
• Minimum 10 years of experience in clearing, settlement or operation within the Hong Kong securities industry, sound knowledge in HK and US stock markets is an advantage
• Minimum 5 years of experience managing team, preferably in a cross -functional environment.
• In-depth familiarity with the full lifecycle operation process of multi-market/multi-asset financial products and the Hong Kong regulatory framework (SFC and HKEX rules).
• Deep understanding of clearing and settlement system architecture and operations.
• Strong analytical and problem-solving skill with a hight attention to detail.
• Excellent communication and stakeholder management skills.
• Fluent in English and Cantonese (both written and spoken), Fluency in Mandarin is preferred.