Trade Management Avp Oversight Manager - London, United Kingdom - eFinancialCareers

eFinancialCareers

Verified Company

London, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Who we are looking for

The Trade Management Support Team is responsible for servicing all aspects of trade processing and settlement across multiple products traded on behalf of EMEA administered client accounts.

The onshore Manager is required to oversee the offshore team effectively in order to ensure that all trades are confirmed and instructed within market deadlines in order to affect timely trade settlement.

This will be accomplished by working closely with brokers,custodians, fund accountants, various internal clients and other third parties. Timely investigation and resolution of failing settlement is critical.

In addition, this involves close liaison with cross functional global teams including Database Management,Corporate Actions, Reconciliation and IT, as well as the client Middle and Front Office teams.

Liaison with third party vendors of software and services will be required, as will attendance at various industry conferences and seminars when required.

Knowledge of Electronic Trade Confirmation and Trade Settlement across all products and global marketsis a critical requirement.

Why this role is important to us
The team you will be joining is a part of State Street Global Services (SSGS). SSGS gives asset owners and managers access to the essential financial tools they need to deliver effective investment solutions.

From core custody, accounting, fund administrationand shareholder recordkeeping, to complete operations solutions and servicing for alternative assets like OTC derivatives, private equity and real estate, SSGS' tools help our clients make better investment choices and act on growth opportunities.

Join us if making your mark in the financial services industry from day one is a challenge you are up for.

What you will be responsible for:

Close monitoring of offshore team performance with regard to automated electronic trade confirmation process and systems; attention to 'straight through' processing of trades; verification of trades against counterparty instructions; authorize and dispatchtrades via SWIFT messaging system to custodians, clients, and fund accountants. Ensure offshore performance SLA requirements have been met and escalate non-compliance appropriately.
Ensure effective daily supervision of all product streams within the onshore London Trade Support group, reporting to the senior manager. Supervisory role includes oversight for the accurate and timely processing of all trade input, prompt and timely escalationof all identified risks, both reputational and financial, fail management reporting and resolution, quality control for the production of accurate governance reporting, MIS and broker performance.
Effective prioritization and closure of inbound client and external party query escalation. Work with all internal cross functional teams and external parties as appropriate.
Manage all critical business relationships, both internally and externally. Ensure effective client communication at all times.
Identify opportunities for process improvement and process efficiency. Key participation in strategic projects and initiatives as representative of the team.
Ensure regular review of unmatched trade reports to ensure timely settlement and adequate investigation, followup, resolution and documentation of all trade queries and failing settlements from counterparties, custodians and other interested third parties.
Work collaboratively with all in scope TM units to ensure robust controls and procedures for the accurate maintenance of broker and client settlement details on internal and external systems.
Communicate effectively with management in the event of risk events (e.g.failing trades, overdrafts, claims, aged breaks) and exposures which may result pose financial or reputational risk to State Street or our client base.
Maintain uptodate awareness of settlement practices and wider market changes that may impact trade processing or settlement. Assess changes and review against IMS processes and systems.
Assist with assessing custodian performance with regard to trade settlement processes and customer service performance.
Establish relationships with trading brokers; assist in tracking broker delivery performance and service standards; regularly present broker benchmarking statistics. Provide regular feedback to Front Office.
Work with the regional Reconciliation team and offshore Trade Investigation Team to resolve all break items for cash and stock reconciliation within established clearance timeline parameters.
Responsibility for staff career development, including relevant coaching and training programs, PDP's and the writing of year end evaluations.

Managerial
Demonstrate the 'Risk Excellence' culture in your behaviour

Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
Establish and monitor systems of control, delegated authority and escalation procedures so that the business complies with internal policies and external regulations and can be managed effectively
Adhere to the delegation and oversight (management information and escalation) framework in the performance of daily tasks. This includes taking proactive action to ensure there is adequate production of management information that is fits for purpose,and issues are raised as appropriate
Establish and monitor an effective oversight framework to ensure that issues are appropriately identified, escalated and resolved

This includes:
a) ensuring that appropriate management information is received, considered and challenged as appropriate atintervals proportionate to the risks; and b) that staff members have clear understanding of the escalation path/principlesEstablish and nurture a culture of 'Risk Excellence' within the team, encourage an environment of openness that welcomes effective challeng