Operations Specialist - Contract

ICAP • New York, NY

2d • Hybrid

About The Position

Group Overview The TP ICAP Group is a world leading provider of market infrastructure. Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions. Through our people and technology, we connect clients to superior liquidity and data solutions. The Group is home to a stable of premium brands. Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the world’s leading provider of OTC data, and an award winning all-to-all trading platform. The Group operates from more than 60 offices in 27 countries. We are 5,300 people strong. We work as one to achieve our vision of being the world’s most trusted, innovative, liquidity and data solutions specialist. Role Overview As a settlement team member, work to facilitate the successful settlement of DTC and Euroclear eligible trades. Support competing businesses with professionalism and discretion. The role partners with Operations management, Risk, Finance, IT, GRD, and Client Onboarding, prioritizing risk aversion and regulatory compliance. The work of the settlement team directly impacts the funding capabilities of the firm, and the team has a responsibility to communicate issues effectively, thoroughly, and with all due transparency This is a contract role lasting at least 6 months.

Requirements

• Extensive knowledge of fixed income products including trade reporting and netting and settlement.
• Excellent communications skills
• Computer proficiency and technical aptitude with the ability to use Microsoft Office and DTCC systems
• Heightened understanding and awareness of counterparty risk and settlement risk
• Bachelor’s degree or equivalent combination of education and/or experience
• 3-5 years of exemplary service and experience in operations
• Series 99 required

Nice To Haves

• Understanding of broker/customer relationship dynamics

Responsibilities

• Process, settle and reconcile trades for MBS, Corp, Muni and Emerging Markets business of Tullett Prebon.
• Monitor trade flow and ensure post-trade processes are functioning properly including trade reporting, clearing, settlement and confirmation of transactions. Address and resolve discrepancies by liaising with customers and brokers.
• Facilitate DTC and Euroclear settlement for several financial products including MBS, CDs, CORP, MUNI, and Emerging Market bonds. Daily processing of all corporate actions and buy-ins.
• Monitor BoNY Brussels account for euro CD settlement. Reconcile DTC settlement and NSCC netting accounts.
• Monitor DTC’s Obligation Warehouse system and track, manage and resolve failed trades. Confirm trade fails and escalate as necessary
• Balance all settlement accounts and make entries into the General Ledger.
• Handle corporate actions, P&I, and fail claims.
• Liaise with internal and external auditors and coordinate audit requests. When required, cross train to provide coverage for different product lines.

What This Job Offers

• Career Level: Mid Level