Operations Specialist - Money Markets at RMB - Rand Merchant Bank

Job Description

To support front office teams with the processing of confirmations, trade settlements, and reconciliations. Also attend to administrative tasks (client queries, statements, etc). And perform daily operations to fulfill banking transactions and mitigate associated operational risks.

• Monitor queues on the system for all trades/deals requiring settlements.
• Monitor and manage queues and dealers’ instructions received about the settlement of maturities.
• Determine which deals require full settlements or partial settlements.
• Ensure all deals are settled before cut-off times and that the Liquidity management team has been notified of all large-value payments before cut-off times.

Settlement processing within the standard timelines, whilst adhering to the required process and procedural standards

• Execute transactions consistently, efficiently, and accurately settled before cut-off times., including notification to the Liquidity team for all high-value trades to create a flawless client experience.
• Perform all functions associated with the trade settlement, monitoring for money market deals according to laid down processes. Assigning of SSIs, engaging with the dealers, and notifying the liquidity team of all large-value payments to be released in a bear trap.
• Ensuring segregation of duties is maintained at all times between maker and checker and between confirmations settlements and reconciliations.
• Monitor and troubleshoot payment exceptions/ rejections daily and escalate all issues experienced before cut-off time to the team lead, or head of department in good time to ensure resolution before cut-off times.
• Ensure all daily and month-end interest has been settled according to the instructions.
• Ensure the Unsettling of deals is done on the dealer’s request, and finance is approval received where required.
• Ensure that where required to split deals correct allocation is done to the correct accounts.
• Monitor for maturities daily and ensure that deals have been settled correctly according to the dealers’ instructions.
• If deals have been settled incorrectly, escalate immediately to the team lead and head of the department.
• Attend to and resolve queries, if unresolved escalate to the team leader or head of the department immediately.
• Load cessions and pledges under maker/checker.
• Under no circumstances should deals, or payments be canceled, amended, or unsettled without the dealer’s instruction.
• Maintain and update all process documentation
• Participate in process and system improvement projects and productivity enhancements, which include automation of settlements.
• Ensure that all approvals have been received before performing any back-valued transactions.
• Ensure all End of Day/Start of Day and Intraday checks a
• re performed.
• Ensure a culture to drive the reduction of manual payments and risk mitigation
• Monitor the FICC Mailbox throughout the day for instructions, queries, and requests, and under no circumstances must any emails received or sent be deleted. These emails must be archived by the team leader.
• Monitor system alerts to ensure all settlements have been successfully processed. Escalate system issues experienced immediately to the team leader or head of the department.

Competencies

• Build and maintain professional working relationships with all stakeholders displaying excellent abilities to initiate dialogue listen advise influence and negotiate to achieve win-win outcomes.
• Initiate meetings with key stakeholders to track progress manage expectations and ensure stakeholders' requirements are delivered.
• Preserve relationships despite airing conflicting views and seek mutual gains when addressing conflicts.
• Anticipate consequences and adapt problem-solving based on continual feedback.
• Act speedily to resolve problems queries and complaints
• Adapt communication styles to meet the needs of different audiences.
• Participate in ad hoc projects as required around the operations function.
• Adhere to policies and procedures.
• Use discretion and informed judgment to anticipate and interpret potential risk issues.
• Remain abreast of process changes and communicate any specific training requirements.
• Identify trends and themes, in conjunction with the Operational Risk Manager, for rehabilitative action.
• Take ownership of personal career development leveraging formal and informal opportunities.
• Read situations and organizational realities.
• Set aside personal agenda for the greater good.
• Act in an ethical transparent and morally defensible manner including highlighting unethical practices.
• Continually share debate and communicate learnings
• Flag and debate issues constructively.
• Promote a friendly cooperative climate.

Application Closing Date:27/06/24