Settlements Officer, Operations

2 days ago

Manila, National Capital Region, Philippines CITIC Full time ₱1,200,000 - ₱2,400,000 per year

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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