
Settlements Officer, Operations
5 days ago
Position Description
The primary role of the Settlements Officer – Cash Operations is to support post-execution processes for equities cash operations including settlement of Due Broker/Clearing account, processing of trade-related cash settlements and fund transfers, dividend processing and bank reconciliation.
Key Areas of Responsibilities
- Daily bank reconciliation of custodian bank accounts and checking accounts
- Month-end bank reconciliation submission of all trade related bank accounts
- Month-end submission of Aging Report of Outstanding Checks
- Daily reconciliation of Due Broker/Clearing account
- Manage funds (receivables and payables) for daily settlement of trades including Due Broker and Due Clearing
- Manage funds for daily collateral requirement and weekly and bi-monthly RBCA reserve requirement
- Allocate funds for failed buy trades and stock loan for failed sell trades
- Process various online banking payments to clients
- Process various online banking fund transfers depending on custodian net settlement of buy and sell trades
- Process cash dividend remittances to clients
- Check preparation when applicable
- Execute FX in with banks for foreign trades and cash dividend remittances
- Maintain banking relationships
- Maintain BP lines, FX lines, Intra-day lines and credit lines
- Posting of daily journal entries
- Bank reconciliation on trade bank accounts are reconciled not later than the following day after transaction date
- Aging Report of Outstanding Checks and Month-End Bank Reconciliation are submitted to controllers
- Collateral requirement in CCH is funded within clearing house cut-off time
- No overdrawn trade bank accounts
- Corporate actions are processed within processing timelines
- Collection & Payment Reports & Cash Position reports are generated and analyzed not later than a day before value date
- RBCA Reserve Requirement reports are generated and fund within cutoff times
Requirements
- Good interpersonal skills
- Knowledge of industry market practices and procedures
- Keen eye on details
- Risk averse
- Proficient in Microsoft word and excel
- Can work under time pressure
- Good grasp of Philippine securities laws and regulations
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