Equity Settlement Associate, Grade 6
Provides support and delivers specific operational processes to ensure timely and accurate settlement of Security transactions executed globally, and confirms the activity is accurately recorded in the bank's book of records. Specific operational processes include pre and post settlement support related to confirmation, cash management, margin, and settlements. Also provides support for specialized operations - Asset Servicing (corporate actions/entitlements) and the Wire Payment Operations hub for the bank. Ensures compliance with all regulatory topics and reporting requirements related to the products and processes it supports.
System knowledge:
•Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
•Monitors and tracks performance and addresses any issues.
•Provides input into the planning and implementation of operational programs.
•May assist in the coordination of workflow and activities of the team, including assigning work, periodically reviewing output, providing input to employee performance reviews, quality control, training, team coaching and guidance, operations research and problem resolution.
•Fulfills routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/requests, and/or audit/reconciliation activities.
•Analyzes and resolve complex issues efficiently and effectively in accordance with Bank and industry standards. Acts as primary back-up to team members and as back-up to the manager.
•Evaluates circumstances requiring exceptions and engages senior management for resolution where required.
•Executes work to deliver timely, accurate, and efficient service.
•Resolves standard and relatively straightforward issues, referring non-routine issues to more senior team members and/or manager.
•May function as a problem-solving resource for more junior staff.
•Provides input and analysis into and participates in the planning, testing and implementation of continuous improvement projects as required.
•Follows documented policies and procedures to execute day to day transactions, activities, processes and ensure all Service Level Agreements (SLAs) are met. Checks and reconciles information and documentation to ensure accuracy and completeness.
•Analyzes data and information to provide insights and recommendations.
•Identifies and analyzes issues and problems and resolves discrepancies in a timely manner. Deals with clients directly to resolve issues and/or escalates as required.
•Develops and maintains effective relationships with internal & external stakeholders to execute work and fulfill service delivery expectations.
•Understands the regulatory requirements and risks inherent in the operations and ensures appropriate actions are taken and operational integrity is maintained.
•Collaborates in development/implementation of new processes/systems and changes/improvements to existing systems and processes.
•Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
•Exercises judgment to identify, diagnose, and solve problems within given rules.
•Works independently on a range of complex tasks, which may include unique situations.
•Broader work or accountabilities may be assigned as needed.
Industry Knowledge:
•Understand the functioning of domestic and international Capital Markets activity
•Maintain key controls and review process, where applicable, to ensure operating integrity, comply with internal and external regulators, involving an understanding of regulatory and compliance requirements as prescribed for the business unit; provide recommendations and implement corrective actions to ensure adherence as required
•Ensure the appropriate business continuity plans (BCP) are maintained and tested
•Ability to identify risk breakdowns in controls and processes
•Working knowledge of all Broadridge systems (BPS/GFW/PostEdge) this includes but not limited to bookkeeping entries and researching activity
•Experience with cross border (North/South) and International trade flows
•Knowledge of stock record, clearing & settlement processes, regulatory reporting including REG 204 Buy-In procedures
•Experience with Rule 144 restricted shares and DTC Global Lock securities
•Knowledge of the following Settlement depositories: (DTCC/NSCC, CDS)
•Understand Treasury management operations and risk management policies
•The ability to manage and resolve day to day issues specific to cash management including the resolution of complex internal business partner and/or external customer issues. Escalate more complex issues to senior management when necessary
•Provide a guidance and support to related business unit regarding procedures for cash management
•Working knowledge of BONY Systems and Treasury Edge functions
•Proficient in Federal Reserve Regulation T, daily Margin calculations and requirements
•Responsible for daily monitoring of client trading activity to ensure compliance with all applicable trading rules and regulations set forth by governing bodies as well as BMO practices and principles
•Knowledge of overall margin methods and procedures to make daily operations in the department more scalable
•Ability to engage with various lines of business for the sourcing of shares for collateral movement
•BPS/ADP, GEMS, IMatch, Global Frame Work, DTC/OCC/Arrow/CDS portals BONY Treasury Edge
Job Type: Contract
Ability to commute/relocate:
- Chicago, IL: Reliably commute or planning to relocate before starting work (Required)
Experience:
- Microsoft Excel: 1 year (Preferred)
Work Location: In person