Brokerage (Analyst, Senior Analyst)
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About the Role:-
This Job requires key attention to detail, good understanding of Listed Derivatives Brokerage Settlement concepts like Futures & Options products traded in Global Exchanges, Give-Ups, Clients vs in-House Business, FIA Rankings, eRecs, GPS, Nostro breaks Management, Balance Sheet Substantiation, Financial Reporting, Aged Brokerage Management, Broker & Stakeholder Relationships, Breaks resolution in timely manner, etc. It also involves good understanding & robust execution of Brokerage Settlement with tools like eRecs, Atlantis, FIS Brokerage Manager and MS-Office suite
About the team
The Brokerage team is responsible for brokerage receivable and payable for the execution and clearing of Listed Derivatives.
From a BAU perspective, pre-settlement duties entail sending invoices, reconciling all received invoices and resolving rate and trade validity disputes, physical settlement of agreed amounts, nostro break management, and management of all output from electronic settlement platforms. Post-settlement, the team reconciles all excess accruals and presents to the business for follow-up actions.
From a project perspective, the team engages in various tactical and strategic process improvements and system architecture changes. The team also handles one-off requests for information from the business and co-ordinates any accrual setup changes requested by the business.
What you will be doing
- Complete brokerage BAU responsibilities in a timely and accurate manner
- Ensure team’s monthly brokerage cycle tasks are completed within the internal and market timelines
- Invoices
- Finance reports
- Management reports
- Deliver on monthly SLA targets, striving to exceed where possible
- Analyze outstanding brokerage ageing profile and identify short/medium term targets to ensure adherence to SLAs
- Plan resource allocation across teams to execute targets and monitor capacity/utilization to ensure feasibility of plan execution
- Escalate and propose solutions regarding short and long term capacity concerns to FIS managers
- Work with utility management and other stakeholders to ensure that SLA breaches are closed out in a timely fashion
- Timely escalation of potential problem brokers to management
- Change management
- Proactively identify areas for performance and control improvements
- Constantly analyze productivity/output to identify potential enhancements or cost savings
- Articulate business cases to management/change/IT to execute and deliver on suggested improvements
- Guide/encourage team to propose solutions and take ownership of changes
- Provide excellent client service
- Build strong relationships with all stakeholders (retained team/management/business)
- Co-ordinate timely response and resolution of all queries
- Ensure accuracy and clarity in all deliverables to stakeholders
- Provide constant feedback to stakeholders to improve our service offering
- Provide an effective link between industry platform providers and the participant firm in terms of knowledge transfer and decision making
- Risk management
- Monitor controls and checks associated with tasks in SOPs
- Constantly analyze all activities to close potential risk gaps and implement preventative, and if not, then detective controls
- Ensure timely escalation in event of a risk incident
- Business/Industry landscape awareness
- Keep abreast of all industry changes/advancements especially with regards to the development of industry tools and regulations
- Awareness and communication of impact to utility management – generate action plans to develop positive outcomes/mitigate negative outcomes from changes
- Understand business risks/impact and escalate to management where necessary
What you will need:
· Minimum of 3-8 years of work experience in Futures/Options Brokerage Receivables and Payables function.
· Comfortable using key industry platforms such as GMI, eGUS, eGAINS, eRECS and GPS.
- Front to back understanding of the Brokerage function, upstream dependencies and how it impacts processes downstream, so that complex queries can be addressed accurately and in a timely manner
- Detailed understanding of exchange traded derivatives (Futures/Options)
- High attention to detail and quality of outputs delivered.
- Manage multiple simultaneous deliveries to tight deadlines.
- Analytical and can solve problems quickly and innovatively.
- Dynamic outlook, with the ability to adapt and change plans on the fly.
- Delivery focused; results driven.
- Excellent communication and co ordinations skills.
- Strong client service focus.
Qualifications
- MBA in Finance or equivalent
Competencies
- Skill in project management, organization, communications, analytical and people skills
- Skill in leading, supervising and managing effectively under pressure
- Ability to be comfortable interacting and maintain positive working relationship with other stakeholders
- Ability to analyze business needs and determine related information services support
- Ability to manage activities and problem areas
- Ability to delegate tasks to qualified subordinates as appropriate
- Ability to lead, direct and manage effectively
- Ability to operate independently
- Ability to exhibit solid decision-making and problem-solving skills
- Ability to communicate effectively verbally and in writing
- Ability to build strategic roadmap for the function and further expansion of scope of functions
- Ability to contribute towards budget saving automation ideas
- Ability to meet conflicting priorities by ensuring effective prioritization and meeting the business demands
- Ability to learn and practically apply latest technological development.
Added bonus if you have:
- Experience in servicing large Global Financial Banking Firms & Clients.
- Experience in major Brokerage Transformation & Automation Projects
- Experience in Position & Cash Reconciliation for ETD & OTC Derivatives
- Experience in Trade Clearing & Lifecycle process for ETD & OTC Derivatives
- Knowledge of Front to Back Trade & Cash Settlement flows
What we offer you
At FIS, you can learn, grow and make an impact in your career.
- Extensive Health Benefits Program along with the Family Protection Plan
- Best-in-class career mobility options across the globe
- Award-winning learning offerings for career development
- Adaptable home - office work model
- Opportunity to work with global teams and clients
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Sourcing Model
Recruitment at FIS works primarily on a direct sourcing model; a relatively small portion of our hiring is through recruitment agencies. FIS does not accept resumes from recruitment agencies which are not on the preferred supplier list and is not responsible for any related fees for resumes submitted to job postings, our employees, or any other part of our company.
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