Settlements Supervisor
The Settlements Supervisor works closely with the Middle Office/Operations Trade Support Team along with various Operations staff. This role requires a self-motivated, goal-focused individual to manage multiple tasks in a time-sensitive environment while constantly monitoring the regulatory and financial risks. The Supervisor is responsible for monitoring workflows and volumes of the team, as well as leading in cross-training efforts. The candidate will also effectively and promptly communicate with, and provide assistance to, the department Manager as needed.
Responsibilities Include:
- Supervise a team of 8 operations professionals
- Resolve trade settlement issues and monitor trade fails
- Identify and resolve the root cause of all issues
- Ensure the team provides daily fail reporting to the sales associates and the Middle Office team and provide an explanation of the failed trades
- Be the first escalation point for all issues and act as a resource to problem solve for complex issues with clients, counterparties and other internal teams
- Train new associates and cross train current associates on the workings of the group
- Delegate work and follow up on day-to-day activities of the team
- Consult with the manager to identify process improvement initiatives and continually seek best practices for current processes and procedures
- Provide direction and oversight to the team
- Escalate all accomplishments and issues to management regularly
- Ensure all daily reports are reviewed and maintained appropriately
Required Experience and Skills:
- Undergraduate degree (preferred) or equivalent experience
- Minimum 5 years of industry experience working in Operations with a strong understanding of trade settlement
- 2 years of supervisory experience a plus
- Experience working with the following industry systems applications required:
- Refinitiv/Thomson BETA, ALERT, DTCC, NSCC and MBSD
- Experience working with Brokers and Custodians to resolve failed trades
- Experience with foreign trade settlement processes
- Possess the ability to apply independent judgment and decision making to meet critical time frames
- Proficient in Excel and other Microsoft applications
- Experience with robotic process automation (RPA) is a plus
- Understanding of market practices (MSRB and FINRA rules) around buy-ins/sell-outs and claims
- Detail-oriented with strong analytical and problem-solving skills
- Work with a sense of urgency and ability to multi-task in a fast-paced environment
- FINRA Series 7 or 99 license or ability to acquire within six months
- Possess a strong understanding of risk management & FINRA regulations
- Strong oral and written communication skills are critical