Job Details
Overview: The Manager of Settlements is responsible for ensuring the efficient and accurate processing of financial transactions and settlements. They oversee a team of settlement specialists and work closely with various departments to streamline processes and mitigate settlement-related risks.
Key Responsibilities:
Team Management:
- Lead and manage a team of settlement specialists.
- Provide training, guidance, and mentorship to team members.
- Set performance goals and conduct regular performance reviews.
Settlement Processing:
- Oversee the timely and accurate processing of financial transactions, including securities, derivatives, and cash settlements.
- Monitor daily settlement activities and ensure adherence to deadlines.
- Resolve settlement discrepancies and escalate issues as necessary.
Risk Management:
- Implement and maintain robust controls to mitigate settlement risks.
- Stay updated on industry regulations and best practices related to settlements.
- Develop and enhance procedures to improve efficiency and reduce operational risk.
Collaboration:
- Work closely with internal stakeholders, including trading desks, credit, finance, scheduling, contracts and IT departments, to optimize settlement processes.
- Liaise with external counterparties, such as pipelines, brokers, and clearinghouses, to resolve settlement-related issues.
Reporting:
- Prepare and distribute settlement-related reports to management and stakeholders.
- Analyze settlement data to identify trends, patterns, and areas for improvement.
Continuous Improvement:
- Identify opportunities to automate and streamline settlement processes.
- Lead or participate in projects aimed at enhancing settlement systems and workflows.
- Implement best practices to drive operational efficiency and reduce costs.
Qualifications:
- Bachelor's degree in Finance, Accounting, Business Administration, or a related field. Advanced degree or professional certification (e.g., CFA, CPA) is a plus.
- 3 plus years of experience in settlements, with a strong understanding of commodity markets and products.
- Proven leadership skills and experience managing a team.
- Excellent analytical and problem-solving abilities.
- Strong communication and interpersonal skills, with the ability to collaborate effectively with internal and external stakeholders.
- Knowledge of relevant regulations and compliance requirements
- Proficiency in Microsoft Excel and other relevant software applications.
- Attention to detail and a commitment to accuracy and quality.