Middle Office Service & Supp Specialist

Valley Bank•New York, NY

13d

About The Position

The role will provide specialized operational support to the structuring, booking, settlement and finalization of newly issued securities. The specialist will need to be abreast of industry regulatory requirements and support the roll out of new processes that affect the operations functions. A good knowledge and experience of the US primary and secondary markets and clearing systems, as well as the settlement mechanics of equities and options is required. The role involves back-end processing, including trade booking, allocations, confirmations, and settlements. Performing basic reconciliation of client accounts, interacting with Trading Desks daily, and performing daily cash and position reconciliation are key aspects of the job. The position provides comprehensive service for internal/external clients, follows control procedures in opening and closing transaction processing, and generates end-of-day reports. Knowledge of all Settlements Custodians (FED, DTC, Euroclear, FICC, Non-Dollar and Swift Messaging) is essential for ensuring the efficient handling of securities and account transactions within tight deadlines. The role also includes processing and monitoring all daily securities transactions, ensuring compliance with legal and regulatory policies, and resolving client inquiries and issues. Participation in interdepartmental projects may also be required.

Requirements

Strong fixed income portfolio management skills with a thorough understanding of various instruments and financial markets.
Strong analytical skills.
Demonstrate an understanding of various forms of risk, including market, operational, legal, and regulatory, as they relate to the Bank's securities portfolio.
Strong oral and written communication and organizational skills.
Demonstrate an ability to be a collaborative and effective member of a diverse and dynamic team environment.
Knowledge of Bloomberg, NetX360, MS Excel including Macros.
High school diploma or GED.
A minimum of 2 years of Brokerage Operations and banking experience.
Knowledge of all Settlements Custodians: FED, DTC, Euroclear, FICC, Non-Dollar and Swift Messaging.
Knowledge and experience of the US primary and secondary markets and clearing systems, as well as the settlement mechanics of equities and options.

Nice To Haves

Experience in a bank or custodian environment is preferable.
Bachelors' degree in finance, economics, business, mathematics, or related field is preferred.

Responsibilities

Provide specialized operational support to the structuring, booking, settlement and finalization of newly issued securities.
Support the roll out of new processes that affect the operations functions, staying abreast of industry regulatory requirements.
Perform back-end processing, including trade booking, allocations, confirmations, and settlements.
Perform basic reconciliation of client accounts (processing trade settlements, resolving discrepancies, inputting information into database, verifying check distributions, etc.).
Interact with Trading Desks on a daily basis.
Perform daily cash and position reconciliation.
Provide comprehensive service for internal/external clients.
Follow control procedures in opening and closing transaction processing.
Generate end-of-day reports.
Ensure the efficient handling of securities and account transactions within tight deadlines.
Process and monitor all daily securities transactions, including wire transfers, check deposits, and cash transfers.
Ensure all securities transactions including free receipts and deliveries, global (non-USD) trades and all other securities related transactions including mutual funds and foreign exchange are processed.
Ensure compliance with all legal and regulatory policies and requirements of the Private Bank.
Resolve client inquiries and issues on a timely basis and as accurately as possible through effective and efficient use of Private Bank resources.
Obtain and review documentation prior to submitting to management the details necessary for departmental audits.
May take part in interdepartmental projects.