VP/Head - Trade Control - Investment Bank

We have 2 Sr. level opportunity with one of the top MNC investment bank for Chennai location.

Candidate Qualification : CA / MBA / PGDM / PG / B.Tech / B.E.

Experience required - Minimum 12 years out of which 4 years of relevant experience as per the requirement.

Job Location - Chennai

Designation - VP / Head & VP Trade Control

Set Skills - Trade Settlements

JD:

Roles and Responsibilities:

- The role holder will be responsible for day to day running of the seven settlement teams Equity settlements department covering a variety of Equities products across European domestic markets. It includes Agent clear, Euro Clear, Ex-Moves, UK Domestic, Market Portfolio Settlements, Emerging markets and Reconciliations.

- The role holder will provide ad hoc information to key stakeholders and will take responsibility for providing relevant management information (MI) to senior management and will use this information to predict trends and spikes in work volumes to plan the strategy and resourcing of their area. In addition the role holder will build strong cross departmental relationships and ensure all risk and control functions are adhered to

- The role holder will lead and drive the identification of process improvements and synergies on an ongoing basis and will liaise with subject matter experts (SMEs) on project enhancement for existing and new markets and will monitor trends to make the processing of business more scalable within their budgeted headcount.

- The role holder will have accountability for elements of their budget and will work with the business to meet any budgetary or headcount challenges without degradation to service. The role holder will lead the team in improving the Straight Through Processing (STP) rate by identifying the root cause of exceptions and driving out inefficiencies from the business.

Set Skills: Trade Control.

Vice Presidents Main Duties:

Leadership role for the Equity and Prime Trade Control functions in Chennai:

- Oversight of recruitment, training and ongoing development of staff.

- Development and implementation of department wide policies and procedures, and responsibility for directing day-to-day operations.

- Management oversight of all KRI’s and KPI’s

- Ensure all applicable governance, compliance, risk policies and procedures are adhered to and a mechanism exists to promote escalation by staff where appropriate.

- Appropriate product knowledge across the spectrum of processes and asset classes covered by Trade Control - specifically focussing in the Equity, Equity Derivative and prime asset classes. Articulate high level overview of processes and issues to senior management as well as a focus on detail with AVP’s/Analysts in recognising control/training gaps.

- Continual review of existing processes to ensure exceptional performance, efficiency and risk management. Carry out complex analysis to identify innovative ways to improve straight-through processing, client experience, performance against regulatory targets and the firm’s standing against its peers.

- Active member of Trade Control management team. Full participation in discussions regarding the global footprint, and the strategic direction of the group as a whole. Leadership and involvement in firm wide people initiatives, with particular focus on the development and replication of these initiatives in Chennai.

- Effective management of operational costs to ensure the function is performed within budget. Proactively identify opportunities to lower operating costs, whilst maintaining performance.

- Foster strong working relationships with both internal (i.e. FO, Audit, Compliance, Legal and Finance) and external counterparts (i.e. Regulators, External Audit and Vendors). Confident communication (written, verbal / presentations). Effective management of key client relationships and promotion of Bank Shared Service Operations as a differentiating factor from its peers.

- Leading by example - Oversight of staff and processes that monitor high frequency / real time transaction flow, trade updates, and exception queues to ensure that trades flow timely from front to back systems.

- Oversee the Creating and Maintaining of Operational Controls. Involved in refining, maintaining control policies.

Trade Control Equities and Prime Main Duties:

Reconciliation Management:

- Daily reconciliations need to be completed (FOBO, BOBO, Inter-company, Intra-company, Exteranl), Identifying, assigning, Reporting and Escalating all Exception items appropriately; according to the procedures laid-out for each process

- Ensuring the Clearance of breaks by appropriate stakeholders, on key trade integrity reconciliations.

- Candidate is expected to appropriately escalate issues to TC and other Ops, FO etc management as they arise

- Contribution to process improvement and understanding logic/completeness of controls is expected

MI / Metrics Production:

- Daily, Weekly, Monthly production of key metrics for Trade Control; covering all KRIs (Key Risk Indicators), such as aged breaks on FOBO (Front Office versus Back Office) reconciliations.

- Daily Reporting showcases the importance of the controls we perform and provides a performance indicator/health check as to the control environment

- All candidates need to understand the metrics and question the respective numbers prior to communication being delivered.