FX Settlements and Derivatives Operations Officer
- Location London
- Job type Contract
- Salary £220 - 250 per day
- Discipline Financial Services
- Reference J89524
FX Settlements and Derivatives Operations Officer
Core Responsibilities
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Handle the daily processing of foreign exchange (FX) trades as part of the broader Derivative Operations team.
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Ensure the prompt and accurate transfer of FX deals from Front Office trade capture platforms into the relevant accounting, settlement, and ledger systems.
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Manage the confirmation and affirmation procedures associated with routine FX activity.
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Deliver outsourced processing support for EMEA offices. Assist the Section Manager and Team Leader in rolling out new workflows and implementing directives from Senior Management.
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Ensure all FX transactions are handled in full compliance with Head Office guidelines, regulatory standards, and local operating procedures.
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Support the Assistant Team Leader in delivering essential services to Front Office stakeholders and external processing hubs across the EMEA region.
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Act as a key point of contact with colleagues in the Financial Markets Division (FMD) to oversee FX trade processing.
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Maintain regular communication throughout the day to ensure strict adherence to processing cut-off times for high-value transactions.
Working Relationships
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Maintain daily engagement with the Assistant Team Leader of the FX Processing team.
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Regularly liaise with the Team Leader overseeing Derivative Operations.
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Occasionally interact with the Director responsible for Derivative Operations.
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Collaborate with the FMD on the booking and settlement of new FX trades.
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Communicate with Relationship Management teams to address client inquiries and operational issues.
Duties and Responsibilities
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Ensure all outgoing payments are processed within the required timeframes.
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Confirm that all financial postings, including Demand Deposit Accounts (DDA) and General Ledger entries, are accurate and timely.
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Validate trades against external counterparties before final processing.
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Monitor all downstream system interfaces throughout the business day and at close of business.
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Complete the trade confirmation matching process promptly and resolve any mismatches.
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Actively investigate and resolve reconciliation issues on Nostro accounts.
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Complete daily, weekly, and monthly control tasks with precision and within designated timelines.
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Escalate operational issues promptly, providing the necessary documentation and following through to resolution.
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Build and nurture relationships with Front Office staff to ensure high levels of service delivery.
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Continuously seek to improve existing processes by applying the principles of Efficiency, Effectiveness, and Error Reduction (the "3 Es").
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Maintain and regularly update Desktop procedures and operational checklists.
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Participate in User Acceptance Testing (UAT) for system enhancements and document the outcomes.
Knowledge, Skills, and Experience
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Solid understanding of FX settlement processes.
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Familiarity with trade confirmation matching protocols, both internally and as per industry standards.
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Awareness of CLS (Continuous Linked Settlement) processes and the critical role of timely confirmation matching.
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Knowledge of MX and MT payment formats, including the ability to interpret annual SWIFT standards updates.
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Understanding of key legal agreements such as ISDA, DRV, and FBF, along with an awareness of Regulatory Reporting obligations.