Senior Associate - Settlement Operations

at  Clear Street

ABOUT CLEAR STREET:

Clear Street is modernising the brokerage ecosystem. Founded in 2018, Clear Street is a diversified financial services firm replacing the legacy infrastructure used across capital markets.
We started from scratch by building a completely cloud-native clearing and custody system designed for today’s complex, global market. Clear Street’s proprietary prime brokerage platform adds significant efficiency to the market, while focusing on minimising risk, redundancy, and cost for clients. Our goal is to create a single source-of-truth platform for every asset class, in every country, and in any currency.
By combining highly-skilled product and engineering talent with seasoned finance professionals, we are building the essentials to compete in today’s fast-paced markets.

SKILLS REQUIRED:

• At least five (5) years of professional experience in settlement operations covering the following products: Fixed Income, Equities, OTC Derivatives products and FX products.
• An understanding of central counterparties (CCP) and central securities depositories (CSD) rules including buy-ins and fails across the international markets.
• Comprehension of Nostro/Stock/Control reconciliation exceptions
• Demonstrable experience of effectively managing a settlements team within a capital markets or financial services operations environment
• Proactive self-starter
• Strong risk control background
• Experienced in building and establishing teams

THE ROLE:

This will be an opportunity for an experienced settlements operations individual to help shape the UK and European settlements team. You will be managing the daily settlement operations functions for products including Fixed Income, Equities, OTC Derivatives products, FX and related activities throughout transaction life cycle. Reporting directly to European Head of Operations, you will be responsible for supporting the firm as it grows its international prime brokerage business.

RESPONSIBILITIES:

• Complete Settlement processes to ensure all tasks & controls within the activity are performed within the market deadlines.
• Daily checks and validation of performed settlement controls
• Participation in and leading meetings with stakeholders as required.
• Manage and participation in department, cross functional and projects
• Account creation and reference data maintenance – specifically SSI’s
• Complete and implement all aspects of the various settlement processes, including implementation of the Escalation and controls policy
• Structured reviews and reporting of all settlements to indicate issues, workload and potential risks.
• Continuous review and reporting of all operational risk in all processing aspects including processing, compliance & systems
• Assess all settlement incidents, timely escalation to Operations management and remediate where required
• Ensure Procedures relating to Settlements are up to date and ensure Operations Team processes adhere to Group Policies & guidelines
• Monitor SWIFT, CTM, ALERT, DTC ID and other industry tools for timely trade comparison