Manager of the TCW, MetWest, and TCW Alternative Fund Families
Senior Settlements Specialist
- Los Angeles, CA, USA
- Permanent, Full time
- 05 Jan 18
The Senior Settlements Specialist will support responsibilities assigned to the Domestic Fixed Income and Equity Settlements team and assist Manager in providing oversight for day-to-day tasks assigned to the Settlements Team. This position will be responsible for the smooth operation of securities trade settlement by confirming and finalizing transactions, communicating with brokers and custodian banks, and resolving trade discrepancies. Additional responsibilities include handling the settlement of all Fixed Income and Equity securities including Bank Debt.
The incumbent will have the opportunity to gain knowledge in settlements and understand the settlement of CMO/MBS money differences, investing STIF for TCW’s mutual funds along with many other tasks which fall under Domestic Settlements.
- Confirm all Domestic Fixed Income and Equity trades daily on the day of execution. Obtain trade tickets from Portfolio Managers via Trade Blotter; confirm all aspects of trades via telephone, Bloomberg, Trade Web and email.
- Execute documents and settle Domestic Fixed Income and Equity trades efficiently and timely for T+1, T+2 and same day trades.
- Execute documents and settle Bank loans via ClearPar or manual processes.
- Direct communication with Trading Desk to ensure timely resolution of trade discrepancies.
- Provide trade instructions to banks via letters, fax, auto fax, and SWIFT.
- Resolve daily settlement issues - failed settlements, SPO charges, claims, and overdrafts, involving research, communication, and problem solving.
- Review end-of-day reports to ensure daily trades are reflected accurately; research and resolve discrepancies.
- Gather delivery instructions from Custodian Banks and set-up on ALERT.
- Affirm select accounts via ACTION system.
- Conduct special projects, as requested, by Settlements Manager or Senior Management.
- Support SSAE 16 (formerly SAS 70) requirements for the Operations Team.
- Support research and resolution of exceptions utilizing various sources including Bloomberg and Trustee reports.
- Review settlements daily checklist to ensure all daily tasks are completed.
- Cultivate positive relationships with custodian and brokers and work proactively to correct trade details inaccuracies to ensure timely settlement.
- Communicate with other members of Settlements, Reconciliation and Derivative Operations groups to ensure that trades are being accurately recorded in the SMS portfolio management system.
- Bachelor’s degree in Finance, Economics, or similar field
- Three plus (3+) years of experience performing similar duties with a buy-side asset manager, or equivalent sell-side experience
- At least two years of experience confirming and settling Domestic Fixed Income and Equity trades
- Excellent oral and written communication and interpersonal skills (must establish good rapport with internal and external business partners, including broker/dealers and custodians)
- Ability to work in a team environment and interact with all levels of the organization
- Strong interpersonal skills; ability to provide directions to the team
- Demonstrated leadership skills and abilities
- Strong organizational skills and attention to details
- Strong analytical and problem solving capabilities
- Works well in a fast-paced environment: ability to prioritize, perform with high accuracy, and meet tight deadlines
- Demonstrated ability to work independently, prioritize, multi-task, and consistently meet deadlines
- Solid knowledge of standard computer software, including MS Excel, MS Word
- Familiarity with, Bloomberg, Trade Web, Omgeo Oasys, Omgeo Alert, Wall Street Office, ACTION, DTC, Swift, ClearPar, TSI, Intralinks, Lend Amend, SyndTrak, Debt Domain desired.
- Knowledge of Fixed Income and Equity securities/instruments is strongly preferred.
- Experience with Financial Services industry including global securities and foreign currency transactions
- Knowledge of trade confirmation via BBH Infomediary is a plus