Futures Clearing Analyst
City : TORONTO, Ontario, Canada
Category : Operations
Industry : Financial/Banking
Employer : RBC
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Job Title
Job Description
Process Management / Clearing Services:
On a daily basis work with exchange clearing systems (TMS, SEALS, SOLA, XTP) to claim and allocate trades. Trade input will be completed as required
Research and resolve trade discrepancies and respond to customer queries
Report on end of day breaks, escalate any unresolved breaks to reporting manager.
Root-cause analysis into any clearing exceptions identified by the reconciliations team, ensuring reoccurrence of breaks does not happen
Develop an in-depth understanding on balancing (position, money) to exchanges and brokers, and complete required reconciliations daily
Process position transfers, deliveries, margin calls with clearing house and brokers
Process option expiries – exercise and assignments, process GL entries to balance internal accounts
Ensure timely dispatch of invoices/payments, regulatory reporting and responses to clearing inquiries received in group inboxes.
Manage queries into giveins, giveups, ensure accuracy in configuration of brokerage fee driven static data.
Perform UAT for Vendor or exchange software or hardware upgrades, development or technical process changes in coordination with the IT Team.
Timely reporting of all exchange file requirements for position maintenance, and Regulatory reporting obligations. Liaising and proactive monitoring of all trades executed with internal and external parties to ensure timely settlement at the correct counterpart. Ensuring that “Straight-Through-Processing” occurs, remediating any exception queues or static requirements which prevents STP from occurring.
Must Have:
Operations Experience
Futures/Listed Derivatives Experience
Critical thinking
Outstanding communication skills, both written and verbal
Proficient in Microsoft excel including pivot tables, vlookups
Nice to Have:
French verbal/written
Completion of Canadian Securities Course, or Series 3
Job Summary
Responsibilities’ include the proper clearance and allocation of all exchange traded futures and options on futures for RBC Dominion Securities Inc. Additional tasks include T+1 position and money balancing to exchanges and correspondent brokers, proper recording and notification of option exercise and assignments, margin and payment processing, G/L, and regulatory items and other clearing related items.
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