**FX Settlements and Derivatives Operations Officer
Core Responsibilities
- Handle the daily processing of foreign exchange (FX) trades as part of the broader Derivative Operations team.
- Ensure the prompt and accurate transfer of FX deals from Front Office trade capture platforms into the relevant accounting, settlement, and ledger systems.
- Manage the confirmation and affirmation procedures associated with routine FX activity.
- Deliver outsourced processing support for EMEA offices. Assist the Section Manager and Team Leader in rolling out new workflows and implementing directives from Senior Management.
- Ensure all FX transactions are handled in full compliance with Head Office guidelines, regulatory standards, and local operating procedures.
- Support the Assistant Team Leader in delivering essential services to Front Office stakeholders and external processing hubs across the EMEA region.
- Act as a key point of contact with colleagues in the Financial Markets Division (FMD) to oversee FX trade processing.
- Maintain regular communication throughout the day to ensure strict adherence to processing cut-off times for high-value transactions.
Working Relationships
- Maintain daily engagement with the Assistant Team Leader of the FX Processing team.
- Regularly liaise with the Team Leader overseeing Derivative Operations.
- Occasionally interact with the Director responsible for Derivative Operations.
- Collaborate with the FMD on the booking and settlement of new FX trades.
- Communicate with Relationship Management teams to address client inquiries and operational issues.
Duties and Responsibilities
- Ensure all outgoing payments are processed within the required timeframes.
- Confirm that all financial postings, including Demand Deposit Accounts (DDA) and General Ledger entries, are accurate and timely.
- Validate trades against external counterparties before final processing.
- Monitor all downstream system interfaces throughout the business day and at close of business.
- Complete the trade confirmation matching process promptly and resolve any mismatches.
- Actively investigate and resolve reconciliation issues on Nostro accounts.
- Complete daily, weekly, and monthly control tasks with precision and within designated timelines.
- Escalate operational issues promptly, providing the necessary documentation and following through to resolution.
- Build and nurture relationships with Front Office staff to ensure high levels of service delivery.
- Continuously seek to improve existing processes by applying the principles of Efficiency, Effectiveness, and Error Reduction (the "3 Es").
- Maintain and regularly update Desktop procedures and operational checklists.
- Participate in User Acceptance Testing (UAT) for system enhancements and document the outcomes.
Knowledge, Skills, and Experience
- Solid understanding of FX settlement processes.
- Familiarity with trade confirmation matching protocols, both internally and as per industry standards.
- Awareness of CLS (Continuous Linked Settlement) processes and the critical role of timely confirmation matching.
- Knowledge of MX and MT payment formats, including the ability to interpret annual SWIFT standards updates.
- Understanding of key legal agreements such as ISDA, DRV, and FBF, along with an awareness of Regulatory Reporting obligations.