Middle Office Service & Supp Specialist

Valley Bank; New York (NY); On-site; USD 70,000 - 95,000; Full time

Job summary

Valley Bank is seeking a Brokerage Operations Associate to provide specialized operational support for the structuring, booking, settlement, and finalization of newly issued securities in a fast-paced Private Bank environment.

The role requires solid knowledge of US primary and secondary markets, settlement mechanics of equities and options, and daily reconciliation and reporting duties. You will interact with Trading Desks and ensure strict regulatory compliance.

Qualifications

• 2+ years of Brokerage Operations and banking experience.
• Bachelor's degree in finance, economics, business, mathematics, or related field preferred.
• Experience in bank or custodian environment is preferable.

Responsibilities

• Provide operational support for structuring, booking, settlement and finalization of securities.
• Stay current with regulatory requirements and support new processes in operations.
• Perform back-end processing: trade booking, allocations, confirmations, settlements.
• Perform daily cash and position reconciliation and end-of-day reporting.
• Interact with Trading Desks daily and ensure timely processing.

Skills

Fixed income portfolio management

Analytical skills

Risk management understanding

Communication skills

Team collaboration

Bloomberg

Education

Bachelor's degree in finance, economics, business, mathematics, or related field

High school diploma or GED

Tools

NetX360

MS Excel

Macros

Job description

Responsibilities Include, But Are Not Limited To

• The role will provide specialized operational support to the structuring, booking, settlement and finalization of newly issued securities.
• Be abreast of industry regulatory requirements and support the roll out of new processes that affects the operations functions.
• Have a good knowledge and experience of the US primary and secondary markets and clearing systems, as well as the settlement mechanics of equities and options.
• Responsible for back-end processing, including but not limited to trade booking, allocations, confirmations, settlements.
• Performing basic reconciliation of client accounts (processing trade settlements, resolving discrepancies, inputting information into database, verifying check distributions, etc.).
• Interact with Trading Desks on a daily basis.
• Perform daily cash and position reconciliation.
• Provides comprehensive service for our internal/external clients.
• Follow control procedures in opening and closing transaction processing.
• Generates end of day reports.
• Knowledge of all Settlements Custodians: FED, DTC, Euroclear, FICC, Non-Dollar and Swift Messaging.
• Ensuring the efficient handling of securities and account transactions within tight deadlines.
• Process and monitor all daily securities transactions, including wire transfers, check deposits, and cash transfers.
• Ensure all securities transactions including free receipts and deliveries, global (non-USD) trades and all other securities related transactions including mutual funds and foreign exchange are processed.
• Ensure compliance with all legal and regulatory policies and requirements of the Private Bank.
• Resolve client inquiries and issues on a timely basis and as accurately as possible through effective and efficient use of Private Bank resource.
• Obtain and review documentation prior to submitting to management the details necessary for departmental audits. May take part in interdepartmental projects.

Required Skills

• Strong fixed income portfolio management skills with a thorough understanding of various instruments and financial markets.
• Strong analytical skills.
• Demonstrate an understanding of various forms of risk, including market, operational, legal, and regulatory, as they relate to the Bank's securities portfolio.
• Strong oral and written communication and organizational skills.
• Demonstrate an ability to be a collaborative and effective member of a diverse and dynamic team environment.
• Knowledge of Bloomberg, NetX360, MS Excel including Macros.

Required Experience

• High school diploma or GED and a minimum of 2 years of Brokerage Operations and banking experience.
• Experience in a bank or custodian environment is preferable.
• Bachelors' degree in finance, economics, business, mathematics, or related field is preferred.