FXMM Settlement NY

Job Overview

The selected candidate will undertake the following responsibilities within the team:

• Manage comprehensive processing for financial products such as FX/MM, Derivatives, and Securities registered under Commerzbank New York and Frankfurt. Duties involve timely validation of trade entries, swift action on Confirmation matching, precise trade settlements, cash management, payment processing, rectification of post cash/trade discrepancies, and internal reporting, among other tasks.
• Identify, monitor, and promptly resolve all operational and settlement-related risks.

This role is located in Kuala Lumpur, Malaysia.

Key Responsibilities

• Ensure sustainable service delivery to the business with robust controls and efficiency in the assigned functions.
• Enhance skills and knowledge in business processing and technical understanding related to business applications.
• Foster effective teamwork within the unit, department, and organization.
• Analyze and address inquiries from internal and external clients with minimal oversight.
• Meet or exceed the processing turnaround benchmarks outlined in the Service Level Agreement with clients.
• Handle complex cases with a high level of competency in processing efficiency and accuracy.
• Assist in the implementation of initiatives directed by Management and the Company/Group.
• Contribute innovative ideas and concepts to enhance operational processes.
• Support team members through effective multitasking and collaboration.

Primary Activities:

• Ensure accurate trade bookings and timely settlements.
• Conduct confirmation matching for Commerzbank New York and Frankfurt.
• Coordinate with Front Office, brokers, and counterparties to resolve operational or settlement challenges.
• Execute FX/MM trade bookings and confirmations by ensuring timely resolution of open trades and cash discrepancies.
• Conduct daily operations on the CLS (Continuous Link Settlement) platform for member banks and FX netting via CLS Bank.
• Manage daily activities related to OTC Client Derivatives LCH Margin Calls to agree on prefunding via the bank's PPS account and EUR/USD margin calls through Apex bookings to mirror collateral movement.
• Monitor bookings on the Collateral Management system for OTC, CCP, Repo, and Securities Lending, along with daily exposure management.
• Perform daily and monthly transaction report checks as required.
• Participate in comprehensive disaster recovery and industry testing, including regression tests.
• Assist the Group Head in enhancing process efficiency and effectiveness through change management and continuous improvement initiatives.
• Provide support to Commerzbank New York and Frankfurt during Kuala Lumpur holidays when it coincides with their working days.
• Undertake additional responsibilities as assigned by the Group Head and participate in job rotation.
• Familiarity with systems such as Calypso, TRAM, Finastra CMS, FXAll, CLS, Bloomberg FSS, and ApexCo.

Applicable to Senior Specialist:

• This role involves overseeing the daily operations and performance of the Settlement team to ensure timely processing of settlement transactions.
• Inspire and guide junior team members.
• Serve as a resource for specialized information to the team and other departments while contributing to training and documentation efforts.
• Proactively assist in project collaborations with other departments, providing insights on specialized topics as needed.

Educational Background:

A degree from a university or a graduate from a Commercial School is preferred.

Required Skills and Qualifications

• 1-3 years of experience for Junior Specialist and 3-5 years for Specialist roles in a similar capacity.
• Extensive knowledge of a wide variety of financial instruments, particularly in bookings and settlements (including fixed income instruments, financial derivatives, FX and MM products, structured products, etc.).
• In-depth understanding of regional and local market practices regarding clearing and settlements of various financial products.
• Experience handling standard documentation for diverse financial products.
• Strong comprehension of relevant regulations and internal controls to ensure compliance with local laws and head-office standards.
• Service-oriented mindset with a focus on customer satisfaction.
• Excellent problem-solving capabilities, with the ability to apply current knowledge and best practices for value-added solutions.
• Proficient in multitasking, prioritizing, and managing daily workflows effectively.
• Strong interpersonal and communication abilities.
• Self-motivated and an effective team collaborator.
• Fluency in English is essential; knowledge of Mandarin is preferred for senior specialist roles.
• Commitment to adhering to all internal and external policies and guidelines, including ComValues, Culture of Integrity, Code of Conduct, ABC Policy, TRM, etc.

Work Schedule:

Flexible schedule with the ability to work night shifts to accommodate the US market (New York hours).

Normal: 9.00 PM – 6.00 AM; Daylight Savings: 10.00 PM – 7.00 AM