Fixed Income Clearing Operations Specialist, Global Markets, Assistant Vice President Boston, Massachusetts/en-US/Global/job/Boston-Massachusetts/Fixed-Income-Clearing--Operations-Specialist--Global-Markets--Assistant-Vice-President_R-633864/apply
Duties include trade support, account on-boarding, end-of-day reconciliation and reporting, tactical systems support and administration, and business analysis. The Individual is also responsible for maintaining strong working relationships with electronic trading platforms and internal functional groups including operations, new accounts, compliance, and IT.
Trade Support monitor client trade flows intra-day utilizing TOMS trade blotters, Oasys and electronic trading platform provided screens/feeds.
- Trade breaks: Work with clients, 3rd party platforms support areas, and operations on identifying and resolving trade breaks (un-matched trades). Aim to resolve all breaks on trade date. To the extent a trade needs to be corrected, work with the trader, the 3rd party platform, and client to make the correction. Cancel and corrects by the group can only be done on trade date. All post-trade date will be done by operations.
- Allocations: Ensure that all block trades that are allocated are done so accurately and by the close of business on trade date. Monitor trade flows via TOMS and the auto-matching process on Oasys. Review all un-allocated trades on Oasys and work with the client to ensure timely submission of their sub-account information. For any sub-accounts not found on SSGM, LLC books and record system or TOMS, initiate the new sub-account process (see below). Once complete release the allocated tickets for down-stream processing.
- Fails: Review the fail settlement report each day and monitor for aged fails. Work with operations and trading on closing out open positions where needed.
- TRACE: monitor trades and ensure that all trades are properly recorded to FINRA via Bloombergs TRACE feed.
Account on-boarding work with the business manager on facilitating the new account (parent) and sub-account on-boarding processes.
- New Parents: Includes notifying the new accounts team of the request and to track account documentation as it is processed between SSGM legal, risk, 3rd party e-platforms and the client. Once a new parent is accepted by SSGM, LLC, work with the new accounts department and risk to ensure client information is properly input into the systems. In addition, coordinate with 3rd party platforms to ensure that their account data is in synch with STT data and that new client is properly enabled to trade.
- Sub-accounts: With trade allocation processing, it is likely that a new sub-account will need to be set up on SSGMs systems before a trade can be fully processed for settlement. Both the new accounts group and the 3rd party e-trading platform (assuming it has the ability to store sub-account information and pre-allocate trades) need to be notified that a new sub account needs to be set up. Its the desks responsibility to collect the sub-account standing settlement instructions (usually done via Alert) and to pass it on to the SSGM new accounts team and risk department. The SSGM new accounts team will be responsible for conducting an AML review and inputting the sub-account data into TOMS and BPS or equivalent system. Risk will be responsible for inputing account data into its limits systems.
End-of-day reconciliation and reporting in order to maintain accurate books and records, mitigate trade settlement risk and adhere to compliance requirements, the middle office team will need to perform a few end-of-day routines.
- Run an end-of-day TRACE reconciliation process and resolve any un-known/un-matched trade issues. Escalate any open long or short positions to management.
- Run end-of-day flash trading p&l on TOMS and compare to BPS or equivalent system. Identify and resolve discrepancies.
- Print end-of-day activity and supervisory reports and obtain the trading supervisors signature (series 24)
Tactical systems support and administration: Act as the power user of the whole trading system and become familiar with all of the critical points of potential failure. Escalate trading disruptions or technology issues immediately to systems support and assist in identifying and resolving any issues. Act as a principal liaison between Globallink/SSGM IT, Bloomberg, and 3rd party trading platforms.
Business analysis work closely with management in developing and maintaining key performance statistics for all of fixed income clearing. Assist in optimizing performance to help reduce operational risk and cost and to maximize revenue.
Posted TodayFull timeR-633864
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