Trade Confirmation & Settlement Associate

Guggenheim Investments; Chicago (IL); On-site; USD 100,000 - 105,000; Full time

Job summary

A financial services firm in Chicago is seeking a candidate for an operational role in its Transaction Services department. Responsibilities include trade allocation, confirmation, and settlement, with a focus on fixed income and equity products. Candidates should have a bachelor's degree and 2-4 years of experience in financial services. The role offers a salary range of $100,000 to $105,000, emphasizing communication skills and proficiency in various industry tools.

Qualifications

• 2-4 years of experience in an operational role within financial services.
• Broad understanding of various financial products and operational workflows.

Responsibilities

• Allocate, confirm, and ensure settlement of trades.
• Document and maintain trade allocation archives.
• Communicate effectively with brokers and counterparties.
• Participate in projects aimed at increasing efficiency.

Skills

Knowledge of fixed income and equity products

Excellent communication skills

Proficiency in Excel

Team player

Education

Bachelor’s degree in a business-related field

Tools

Blackrock Solutions Aladdin

Bloomberg

Omgeo

DTCC

MarkitSERV

CLS

Job description

Position Summary

Guggenheim Investments is seeking a candidate interested in gaining cross-team skill development to join its Transaction Services department within the Investment Management Operations business. The Transaction Services department is comprised of Allocations, Trade Confirmation, Settlements, and Collateral Management. In this role, one will be trained on the core concepts and tasks of each group (Allocations, Confirmation & Settlements, Collateral Management), preparing them to obtain a broader skill set and extensive full‑cycle knowledge of Transaction Services. One has the opportunity to work and communicate effectively with internal groups including portfolio management, trading, client distribution, legal and compliance.

This position is located in our Chicago offices.

Responsibilities

• Allocate, confirm, clear, and ensure settlement of all fixed income and equity trades, including repurchase agreements, as well as both Over‑The‑Counter and Exchange Traded Derivatives including options, swaps, and futures.
• Act as an intermediary for all fixed income trades, including gathering demand and producing the final allocation among various portfolios.
• Enter trade allocations into an order management system.
• Document and maintain trade allocation archives.
• Participate in monthly performance dispersion analysis with member of Risk and Investment Performance team.
• Monitor settlement of all trades and ensure timely resolution of any failing transaction.
• Issue, receive and answer all margin calls across OTC, cleared swap, futures, repo and prime brokerage.
• Ensure trades are accurately transmitted to third parties including custodians and administrators working to resolve any discrepancies in a timely manner.
• Communicate professionally and effectively with all brokers and counterparties and seek to expand business relationships.
• Work and communicate effectively with internal groups including portfolio management, trading, client distribution, legal and compliance.
• Participate in department and firm‑wide projects aimed to increase efficiency and minimize risk including those with systems vendors and information technology.
• Assist in the development and documentation of procedures and controls within the business unit.
• Serve as the primary lead with respect to internal audit and annual reviews of the allocations, confirmation, settlement, and collateral policies and procedures.

Basic Qualifications

• Bachelor’s degree with a preferred concentration in a business‑related field.
• Minimum of 2‑4 years of experience in an operational role within financial services.

Preferred Qualifications

• Broad understanding of Fixed Income, equity, financing and derivative products and the operational workflows.
• Knowledge of various industry tools such as Blackrock Solutions Aladdin, Omgeo, Bloomberg, DTCC, MarkitSERV and CLS as well as clearing institutions.
• Motivated team player who has a collaborative mindset to resolve issues both within and outside of the department.
• Desire to drive change within the operational workflow and dedication to always improving the group’s processes.
• Excellent communication skills to interact with brokers and counterparties as well as various levels of management within the firm.
• Ability to operate in a stressful, deadline‑driven environment while still maintaining a strict attention to detail and an ability to prioritize issues appropriately.
• Proficiency in Excel and a desire to implement workflow tools is desired but not required.

Salary Range

Annual base salary between $100,000.00‑$105,000.00. The base salary range represents the low and high end of the anticipated base salary range for this position. Actual base salaries may vary depending on factors such as location and experience. The range listed reflects base salary only, and the total compensation package may include other components such as incentive compensation.