Commodities Settlement Analyst

RBC • Calgary, AB

2d • Onsite

About The Position

The Commodities Settlement Analyst participates in and supports the operational activities of a business unit. They apply experience and complete working knowledge of the job and policies/practices to perform a combination of routine tasks and varied administrative/operational assignments.

Requirements

• Advanced analytical and problem-solving skills - high degree of accuracy and ability to analyze large amounts of data
• Strong interpersonal and communication skills
• High level of adaptability in a dynamic team environment
• Ambitious, results-driven achiever
• Conceptual / Strategic thinker
• Advanced Excel Skills (Pivot Tables and Macros)

Responsibilities

• Participate in and support the operational activities of a business unit.
• Apply experience and complete working knowledge of the job and policies/practices to perform a combination of routine tasks and varied administrative/operational assignments.
• Act as the first line of defense for any related Reconciliation issues, P/L or Balance Sheet Breaks.
• Assume a primary role on the daily tasks for their assigned product.
• Complete the timely resolution of any issues that arise with appropriate escalation to Senior Analysts and Management.
• Provide innovative solutions for process inefficiencies.
• Verify and ensure accuracy of daily cash payments/receipts via wire transfers and G/L accounting entries through accounting systems, in a timely manner while ensuring adherence to all relevant Standing Orders.
• Ensure daily review of payment forecast report from Tax group to determine if counterparties are FATCA withholdable and action as required.
• Review settlement report on a T+14 day basis from trading system (Openlink) to forecast and monitor upcoming settlements, process invoices and confirm with counterparties.
• Investigate and resolve any variances by working with the counterparty and other Business & Client Services functional teams (Validations, Confirmations), as well as the Trading Desk.
• Prepare detailed reconciliation of system settlement data vs. client data for any identified breaks and ensure variances are investigated, resolved and escalated as appropriate.
• Update and maintain queries and reports that pertain to settlement related activity in Openlink.
• Acquire a solid understanding of businesses and how the trades are recorded in Openlink.
• Develop strong understanding of commodities trading products and trade instrument types to develop and maintain relevant accounting rules for the asset class support.
• Review accuracy of data compilation to ensure the overnight/term funding requirements adhere to established funding thresholds.
• Review and verify completion of monthly, quarterly and yearly regulatory filings for the various RBC legal entities.
• Review and verify data for Index Brokerage Fees for quarterly market participant payments.
• Reconcile and review data derived for daily P/L and Balance sheet reconciliation for internal stakeholders (trading desks, Product Control, Financial Control).
• Assist Financial and Product control teams in investigating and explaining queries related to cash and p/l as it relates to BCS owned accounts.
• Complete reconciliations of Balance Sheet to resolve any issues for Monthly ESOD submissions.
• Assist Senior Analysts in ensuring the completeness, accuracy and adequate supporting documentation for Balance Sheet reconciliations.
• Ensure preparation and review of binders is completed as per the SoD deadlines.
• Complete Pega Attestation for Balance Sheet Accounts as per RBC Finance policy and within prescribed timelines.
• Review and assist in transfer pricing and pledging settlement on a monthly or quarterly basis.
• Propose initiatives to improve manual processes and liaise with business analysts and IT to provide requirements, test and onboard the process.
• Participate in team’s project initiatives – assisting with business requirements, user acceptance testing and onboarding to production.
• Ensure that daily and monthly procedures, as detailed in the group’s procedures and standing orders are strictly observed.
• Maintain and update operational procedures and PRIMA maps related to these functions on a monthly basis.
• Review EUC inventory on a quarterly basis and ensure processes are strictly observed and maintained.
• Monitor and ensure Key Performance Measurements are maintained such as pay fails, nostro breaks and funding.
• Raise any concerns to management in a timely manner.
• Proactively identify opportunities to further streamline processes.
• Cross train and act as back up for other members of settlements team (including vacation coverage).

Benefits

• Bonuses
• Flexible benefits
• Competitive compensation
• Commissions
• Stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Access to a variety of job opportunities across business

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed