Money Market Trade Settlement /Cash Collateral Officer
- To settle cash collateral interests as per the Credit Support Agreement established with RBC Capital Markets clients.
- To ensure the legitimacy and accuracy of all Money Market transactions, with RBC Capital Markets clients worldwide through confirming by SWIFT, Telephone, Bloomberg, Email and Fax and to effect with total accuracy settlement of payments and receipts with Counterparties.
- Ensures that quality service is provided and that the Bank is represented in a professional manner at all times.
- Ensures all controls are in place to support Operational and Legal Risk Standing Order, policy S12.03.01 (Payments and Settlements) and all other Standing Orders pertaining to RBC Capital Markets Operations.
- Adhere to all controls that are in place to support Unit Financial Control, re-evaluating on an ongoing basis.
- The incumbent officer will ensure that all deals transacted daily are same-day processed. Transactions must be prioritized by settlement date and deadlines to ensure legitimacy.
- Ensure all deals appearing on the daily incomplete settlement report are updated before end of day. Follow up on any outstanding trades with the collateral management team.
- Settlement instructions must be confirmed with total accuracy to ensure that all payments and receipts are effected with minimal loss to the bank. Where provided, all standard settlement instructions are captured / updated on customer records in RIMMS.
- RIMMS queues are checked periodically throughout the day to ensure all transactions with priority settlement dates are verified for release of payments.
- Key verification function on RIMMS must be performed using the same details provided while confirming. This function must be performed with total accuracy, as payments and financial information are released from RIMMS once key verified.
- Process cash collateral movements as per in-transit report received from Collateral Management Team.
- Ensure all cash collateral interests are settled with the counterparties as per CSA agreement. Dispatch Sentry statements as required ensuring all discrepancies are addressed and resolved in a timely manner.
- Ensure all third party payments are properly authorized by Treasury Senior Management.
- Perform reconciliations daily (Guardian to RIMMS, RATS to RIMMS) and ensure discrepancies are investigated and resolved in a timely manner.
- Assist other team members as required.
- Develop a very good knowledge of products supported by MM to ensure accuracy of terms and conditions of transactions. Acquire expertise at interpreting system bookings of floating rate loans and deposits to ensure transactions are properly booked.
- Participates in identifying operational issues, relating to trade to settlements, when new products are introduced.
- Proactively identifies opportunities to further streamline processes and improve productivity. Actively escalates and follows-up system issues affecting the settlement process. Participates in user acceptance testing for systems upgrades, database conversions and introduction of new systems.
- Responsible for maintaining product and operational procedures documents on an ongoing basis.
- Through a process of continuous improvement, constantly review procedures and practices to ensure that they remain appropriate, eliminating redundant activities, introducing improved procedures, including recommendation for system enhancements/modifications, productivity and reporting.
- Cross-train on other desks within the department to provide relief during absences and high volume periods.
AUTHORITIES, IMPACT, RISK
- Failure to properly complete this function could result in significant loss to the Bank. The incumbent has a direct impact on the perceived professionalism of the Bank with its clients.
- Thorough knowledge of RIMMS, iMatch, Misys, Clarity, PeopleSoft and the various processes involved in confirmations and settlements.
- Knowledge of the front-end systems: RATS, Guardian, Bloomberg, Reuters
- Very good understanding of MM Products in general, trading practices, trading terminology
- Very good understanding of swift message types and payment formatting requirement
- Excellent knowledge of payment lead times requirements for all currencies traded.
- Excellent verbal and written communication skills
- Good MS Word and Excel skills
- Team player
- Manager, Loans and Deposits
- MM Operations team
- Traders / Dealers / Brokers
- Management Group within RBC Capital Market Operations
- Counterparties including corporate clients and Banks
- Cash Management, Nostro Investigation and Payments Department
- RBCCM Data Administration
- Rats/RIMMS/iMatch IT Support Groups
- Customer Service & Quality - 50%
- Teamwork - 25%
- Profitability and Efficiency - 25%
Diversity and Equal Opportunity Employment:
RBC is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status or any other legally-protected factors.
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