OTC Derivative Settlement Analyst

RBC•Bedford, NS

1d•Onsite

About The Position

Provides analysis for implementation and improvement of processes, workflow, project management methods, computer systems and other tools to support insurance policy administration and customer service. Applies complete knowledge, skills, and practices to perform assignments.

Requirements

Minimum 1 year experience within Operations with exposure to Credit and Fixed Rate Derivatives.
Excel/VBA literate
Post-Secondary or equivalent

Nice To Haves

Good working knowledge of Fixed Income Derivatives trades and processing procedures.
Ability to manage stress and work accurately in a demanding environment.
Good working knowledge of various Systems: Infinity, Workflow, Murex.
Good working knowledge of various PC applications: Microsoft, Word.
Good interpersonal/communication skills in dealing with other officers & traders.
Ability to grasp new concepts quickly.
Good knowledge of Structured, Credit and Fixed Income Derivative products market standards and best practice including settlements.
A sound knowledge of Infinity, Murex, RIMMS. IRIS, Workflow.
Adhere to RBC's Standing Orders.

Responsibilities

Process payments and accounting entries for USD/Cross Currency interest rate swaps, interest rate swaps, caps, floors, swaptions, FRAs, bond options and cash tickets in an accurate and timely manner.
Resolve any problems that may arise from daily operations.
Liaise with clients/ Front Office to ensure that settlements are properly executed.
Confirming all upfront and end exchanges for Cross Currency trades which are CAD vs USD or CAD vs foreign currency.
Confirm and route payments and receipts using IRIS and Murex settlement queues to verification officer’s basket.
Prepare payments using different payment devices: IRIS/Murex; SWIFT, Debit/Credit advice, etc.
Perform independent confirmations with counterparties on any buyouts/upfront/end exchange settlements resulted from existing and new deals booking, such as Cross Currency Swaps (if applicable), options premiums, principal exchanges, and swap upfront fees promptly and accurately prior to making payments & accounting entries.
Maintain and update list of netting clients for future settlements.
Daily review of pay/receipt report for 5 days in advance (prior to settlement date), check Murex Reports and receipt wires to Settlement Verification Officer for review, check the same within Murex and process as required.
Ensure that nothing remains in Murex and IRIS system except trades with a special exception: waiting for rate reset, structured deals, and trades with outstanding confirmations.
Maintain updated settlement instructions in Murex.
Upon receipt of advice from counterparty and performing the necessary Call Back as per the standing order, update Murex and ensure that correct settlement instructions are used in making payments.
If instructions exist, advise Trade Verification Officer to reassign correct SSIs.
Process third party payment authorization requirements (per standing orders) before the release of payments.
Timely processing of payments for special handling clients.
Ensure payments are sent through Murex/IRIS the night before value date; send email to Cash Management advising prompt release is required before 9AM on value date. Also ensure proper formatting on wire, i.e. /PRIORITY/.
Investigate and resolve all settlement problems and phone confirmation discrepancies (with counterparties or with the Investigation Department) same day if possible.
Advise Associate Director of settlement problems which are not resolved same day.
Maintain good understanding of the various mainframe systems such as IRIS, Murex, RIMMS, Nostro, SWIFT/FPAY & Infinity and how they interact with the operation of the desk in order to perform the job functions more efficiently and effectively.
Update the EUC Change Log for any changes made to the identified EUC spreadsheets (if applicable) in accordance to the EUC Policy guidelines.
Look into and work to clear any payment related investigation brought to your attention by the NOSTRO group.
Minimize interest claims by providing quick response to payment investigations.
Ensure compliance with mandated Unit Financial Controls/SOX Controls and RBC Standing Orders Policy requirements.

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.