FX Cash Nostro Reconciliation Manager

Functional Title: Manager/Sr. Manager

Department: Operations (oper) - Bangalore

Process: Reconciliations - Securities

Position Reports To - Head Of Reconciliations

Primary Objectives:

Scope of products is as follows:

- Nostro bank accounts

- FX Nostro, LPs and client accounts

- Equities Nostro, internal P&L and control accounts

- Custody and SLB clients

- OTC products nostros and control accounts.

- Trial balance running in GMI.

Major Accountabilities / Principal Responsibilities:

Geographical span: UK

Duties:

- Responsible for the day to day management and supervision of the Operations Reconciliations team (3 - 9 people)

- Management of team members workloads.

- Actively working within the team, reconciling accounts and covering work as volume and priority necessitates.

- Understand system flow and data sources for each reconciliation

- Interact with IT to find solutions to feed and process issues

- Lead by example to maximise performance of all team members and drive constant improvement

- Making sure all transactions positions, cash, P&L and control reconciliations are run and balanced daily

- Making sure breaks are categorised for easier allocation and resolution of breaks.

- Making sure the level of breaks are kept to a minimum by engaging the relevant teams responsible for resolution

- Making sure that dashboards are issued in a timely manner to Head of Operations Reconciliations and senior management daily

- Daily management of the interest compensation and overdraft (credit/debit) on all our banks, custodian and carrying brokers accounts

- Write, update and maintain procedure for each reconciliation run in the department with the support of the Head of Operations Reconciliations

- Undertake recruitment, training, appraisals & job descriptions for the team, in liaison with the Head of Reconciliations

- Communicate with Finance and Operations staff when necessary

- Responsible for running the recs every day and setting up new ones when requested by Head of Operations Reconciliations, Finance or the back office senior management.

- Working closely with the Head of Operations Reconciliations to test and onboard and validate new reconciliations, new processes and controls

- Managing the Static data in the reconciliation tool

- Making sure the permanent supervision indicators are populated monthly for the Control department

- Escalate issues to the Head of Operations Reconciliations as appropriate

- Involvement in project teams for large NE projects

- Follow the Newedge behaviours, which are to take ownership, act as one team, share information, knowledge and experience and to seek excellence.

- Follow the Newedge management principles, which are; lead by example, make decisions, invest in talent and develop your team, empower others and keep focus on the business.

- Expected to work alone extensively on medium to long term projects, delegating duties where appropriate.

- Work closely within the Management Group to determine Group behaviours and standards.

Supervision Duties:

- Management and Supervision of 3 - 9 Operations Reconciliations Analysts

- Establish an environment that promotes respect for the individual employee and adheres to the policies and guidelines of the Company.

- Work with Human Resources to recruit staff with the correct level of skills and competencies, adhering to the Company’s recruitment procedures and best practices.

- Manage the performance of your team ensuring staff have clear pre-set objectives and get regular feedback on their performance. Ensure performance appraisals are conducted in line with the firm’s policy and standards.

- Provide leadership, direction, advice and guidance to the team, thus maintaining high levels of integrity, motivation and morale.

- Maintain staff competence by ensuring that staff skills or knowledge gaps are met with appropriate training and development, so they are able to perform to their maximum capability and fulfil their potential.

Operational Risk & Regulatory Responsibility:

- Responsibility for ensuring that you are fully aware of and adhere to internal Policies that relate to you, your business or other businesses for which you have any level of responsibility. It is your responsibility to ensure compliance with operational risk requirements (e.g. Golden rules, security policies and regulatory requirements).

- Responsibility for managing, controlling, preparing and escalating risk within the scope of your position.

- Responsibility for reading, understanding and complying with the Company’s Conduct and Standards and corresponding regulations. You will be notified of changes to policies in a timely manner through announcements and/or intranet updates.

- Act with integrity and due skill, care and diligence in carrying out your duties. Your actions should always be able to satisfy high standards of scrutiny.

- Observe proper standards of market conduct. Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory bodies that are applicable to your business.

Key Skill Areas & Knowledge Required:

- Required to have worked in a similar Control department for 3 years or equivalent OR

- Required to have worked in a similar broker environment for at least 3 years or equivalent OR

- Required ideally to have worked in a settlement environment for at least 3 years or equivalent, being equities, cash or FX.

- Required to communicate heavily with other Operations departments, Finance and Management

- Requirement to have at least 3 years experience or equivalent managing staff, including day to day supervision, appraisals and objective setting.

Requirement as a minimum to have working knowledge in at least 2 of the following software:

- Intellimatch – Key system

- GMI

- Kondor + suite including K+TP

- MS office, especially Excel, PowerPoint and Visio

- Experience of working in a core back office department or reconciliations department a plus (FX, Equities or Listed derivatives)

- Languages a plus (French, Spanish, German)

Behavioural Competency Required:

- Detailed thinker

- Team communicator

- Team spirit

- Decision making

- Self motivation

- Taking ownership

Functional Relationships:

Internal: Middle Office, Information Technology (itec), Back Office

External: Na

Does The Role Involve Any Of The Following:

- Taking orders from Customers: No

- Advising / recommending trades to customers: No

- Some discretion when filling customer orders: No

- Discretionary trading on behalf of a customer: No

- Dealing with private customers: No

- Issuing documentation to customers: No

- Controlling client assets: No