ETD Settlements Analyst

ETD Settlements Analyst My client is a growing financial markets and commodities investment bank, looking to recruit a dynamic candidate with direct exchange traded derivative knowledge to join their Derivative Settlements team. This person will have a key focus on ETD within the team so this knowledge is ESSENTIAL, but they will have the opportunity to cover OTC when required.


The prime function of this role is to ensure the timely settlement of all ETD trades, with a key focus on T+1 reconciliations. This requires prompt investigation of all exceptions, especially cash flow discrepancies that are unmatched, working closely with the trade support team and the business across a number of locations.

The successful candidate will require a self-motivated attitude who will bring energy and enthusiasm to the function and be capable of quickly developing a strong partnership with front office and the other support teams.

Key Responsibilities:

  • Review and action all intraday exception queues. Prioritize exceptions by the currency deadline and value date. Raise these exceptions to Trade Support to manage with the desk. Actively manage with TS until resolved.
  • Reconcile between the back office settlement system and the Clearing brokers and identify any discrepancies. Raise any exceptions daily to Trade Support. Actively manage with TS until resolved.
  • Affirm all daily cash flows with counterparties on a SD-2 basis. Raise any discrepancies identified with Trade Support.
  • Supervise, and perform when required, T+1 Cash, trade and position reconciliations.
  • Review and agree the daily netting with counterparties (where necessary) and ensure any resulting instructions are released before the relevant currency deadline.
  • Process all CCP (Central Clearing Counterparty) margin calls to other banks including voucher entries within the required systems on a daily basis
  • Liaise with the Cash Management team to facilitate the splitting of large payments as and when requested.
  • Liaise with Cash Management to agree and release the daily CAM payments.
  • Perform a safe settlement process for specific counterparties as approved by Operations senior management and the Credit Dept.
  • Ensure that all new or amended client SSI's have been validated in line with the Operations Control Framework before instructions are released.
  • Processing of third party payment requests upon full approval of the Business and Compliance.
  • 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 cash Non-Receipts and provide relevant MI for the Operations Control team.
  • Ensure the correct proprietary SSI's have been mapped in order to facilitate the most efficient transfer of funds.
  • Report all risk incidents and/or client dissatisfaction to Operations Control within 48 hours of identification.
  • Provide daily MI reporting as agreed with senior management and Operations Control.
  • Provide the highest level of client service when dealing with both internal and external clients of the bank.
  • Challenge current processes and procedure to ensure they are fully optimized
  • Build & maintain relationships with key stakeholders including Front Office, Risk, HR, IT, Compliance, Legal and Audit
  • Ensure all mandatory training is completed within the agreed deadlines.
  • Ensure that procedures relevant to the role are kept up to date and recorded in the relevant share drive
  • Ensure all trade breaks between clearer and internal trading desks are identified, reported and resolved in a timely manner on T+1.
  • Authorising/verification of daily margin calls with 3rd party clearers via CAM & Swift Alliance.
  • Authorising/verification of all daily journals Eclipse & CAM.
  • Maintenance of all commission and execution tables within Eclipse.
  • Managing the amendment of current, and population of new product and account mapping within Eclipse.
  • Monitoring and processing of upcoming expiries on Commodity, Equity and fixed income products across various exchanges (i.e. ICE, NYMEX, EUREX, CBOT, COMEX, LME) on both cash and physical deliveries.BAU representative/Support to Senior Manager on projects (i.e. System upgrades, System migrations, New products).
  • Maintaining Procedures and daily checklists for what is an ever evolving role.
  • Continue to develop and improve current processes and controls. Performing of RCSA for ETD.

Experience and Qualifications:

  • Business knowledge - Exchange trade derivatives knowledge
  • Understanding of risk and control.
  • Knowledge of emerging markets could be of interest.
  • In depth Knowledge of the end to end process of Futures and Options from execution of trade through to settlement.
  • Balance sheet experience an advantage.
  • Knowledge of the Energy Futures markets an advantage.
  • System knowledge of Brady Trinity, CAM, Murex, Swift, SAP and Eclipse systems would be an advantage.
  • Knowledge of creating MT202, MT103 & MT103 Advice in SWIFT would be an advantage.
  • Advanced knowledge in Excel would be an advantage.
  • Experience in communicating and dealing with Clients, Service Providers.
  • Forging positive working relationships with all other areas of the bank.
  • Negotiable
  • London, England, United Kingdom
  • Permanent, Full time
  • Charles Levick
  • 2019-04-16