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Securities Lending Associate-Junior

Job Description

Securities Lending Associate-Junior

BCforward is currently seeking highly motivated Disaster Recovery Specialist for an opportunity in Chicago, IL.

Summary

Position Title: Securities Lending Associate

Length of Contract: 6 months

Working Location: 100% remote for now

Location: 790 N. Water St., Floor 11, Milwaukee, Wisconsin 53202

Working Hours: 40 hours/week, Monday-Friday, shift could fall between 7-3, 8-4 or 9-5, albeit not on a rotating basis

Role Mandate:

• Securities Lending Associate provides post trade settlement services including loan and return settlement, collateralization, recalls and reallocations, asset maintenance, corporate action processing and balancing, and allocation of cash collateral.

• This requires familiarity with all types of securities and their specific processing requirements and to have a good understanding of how each security type settles and accrual calculations.

• The Associate must monitor daily the status of trades in progress and communicate with securities lending traders, borrowers, colleagues, investment managers, and other custodial banks.

• The Associate assists the manager in ensuring volume goals, turnaround times and quality expectations are met, while maintaining strict adherence to control procedures and compliance regulations.

• Escalate/assist the manger with complex problem resolution.

• Fulfill routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/requests and/or audit/reconciliation activities.

• Analyze and resolve more complex issues efficiently and effectively in accordance with Bank and industry standards. Recommend/implement process improvements.

Role Responsibilities Include (but are not limited to):

A. Product & Process

• Monitor, reconcile, balance and post activity for the DTC (The Depository Trust Company) and FED (Federal Reserve Bank) and International securities

• Monitor and review all corporate actions related to securities out on loan and processes related activity.

• Must be able to understand all types of mandatory and voluntary corporate actions and determine when the corporate actions must be processed on the system

• Review Recall and/or re-allocate securities as required, making decisions on which loans securities need to be recalled or reallocated and minimize exposure to potential Buy-In's

• Post cash transaction activity on the trust accounting system

• Accurately build securities and maintain security master

• Ensure loans are appropriately collateralized. Calculate margin requirements to ensure compliance with internal and client guidelines, and provide reporting to management, audit, and clients.

• Update rebate rates on securities lending system and disseminate information to the borrower community

• Effectively communicate with borrowers, third party custodial banks, lenders, and portfolio managers, and colleagues.

• Provide daily reconciliation of positions out on loan

• Generate accurate yields and PVAM (NAV) of collateral reinvestment accounts

• Generate and distribute client statements

• Provide support for department reporting needs

• Assist the manager by performing activities such as coordination and scheduling of work, resource forecasting, quality control, training, team coaching and guidance, research, and problem resolution.

• Research special items and complete special projects as needed

• Build productive relationships within line of business (LOB) and other functions through responsiveness and support.

• Proactively work with others (i.e., on own team, other operational areas, or with the internal business partner and/or external customer) to ensure delivery of timely, quality, and efficient fulfillment activities.

• Ability to effectively prioritize work and adapt quickly to shifting priorities

B. Risk and Control

• Escalate issues that require resolution by the manager, as per guidelines

• Identify potential risk situations/impacts, and make recommendations or escalate to the manager

• Review transactions and requests for compliance with regulatory and Bank requirements, as required.

• Monitor production logs and schedules to ensure key controls are followed and exceptions are actively pursued; escalate to the manager as appropriate.

• Ensure all appropriate authorizations/approvals are obtained in accordance with policies and controls.

• Ensure adherence to all aspects of First Principals, Our Code of Business Conduct, and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, policies, and procedures for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy, and disclosure of outside business activities.

• Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and ensure compliance with the Bank's policies and procedures.

• Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.

Nice to Have Skills:

• 3+ years of related experience in asset management, wealth management, trust operations management or operations securities

• Strong knowledge and understanding or the business unit's key products and services, processes and controls which includes Securities Lending, Custody operations, and Fund Accounting process.

• Strong understanding of business unit's risk and regulatory requirements

• Strong knowledge of departments systems and applications including DTCC, FED, BNY Mellon, Loaned, Bloomberg

Soft Skills:

• Strong analytical and problem-solving skills

• Strong investigation skills

• Strong prioritization skills

• Strong organizational skills

• Good customer service and relationship management skills

• Strong interpersonal skills

• Good change leadership skills

• Good written and oral communication skills

• Ability to multi-task in a fast-paced environment

About BCforward:

BCforward began as an IT business solution and staffing firm. Founded in 1998, BCforward has grown with our customers' needs into a full-service personnel solution's organization. Headquartered in Indianapolis, Indiana, BCforward also operates numerous delivery centers across North America and India. We are currently the largest consulting firm and largest MBE certified firm in Indiana. Our uninterrupted growth has allowed BCforward to deliver uniquely configured IT staffing and project solutions for over the years of catering to our customers' specific needs. BCforward currently maintains a team of over 5000 global resources. With our additional brand, Stafforward, together we have the capabilities to deliver services for a variety of industries in both public and private sectors which allows us to address your most challenging needs.

www.BCforward.com

www.facebook.com/bcforward

We must inform you that during the hiring process, we may ask for you to disclose and provide us with various categories of your personal information, including identifiers such as your name and address, professional information, commercial information, education information, and other related information. Please note that we will only use this information to facilitate and complete the recruiting process. This posting is not an offer of employment. The submission of intentionally false or fraudulent information in response to this job posting shall render the applicant ineligible for the position. BCforward is an equal opportunity employer. Any subsequent offer of employment shall be considered employment at will regardless of the anticipated assignment durat

Interested candidates please send resume in Word format Please reference job code 130063 when responding to this ad.


Job Requirements

 

Job Snapshot

Location US-WI-Milwaukee
Employment Type Full-Time Employee
Pay Type Hour
Pay Rate N/A
Store Type Accounting
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Company Overview

BCforward

BCforward is a global IT consulting and workforce fulfillment firm that provides services and resourcing for leading businesses and government organizations. For 20 years our professionals have helped clients achieve their strategic goals. Our strong culture and clear values have enabled BCforward to become a market leader and best in class place to work. Learn More

Contact Information

US-WI-Milwaukee
BCforward
317-315-8931
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Snapshot
BCforward
Company:
US-WI-Milwaukee
Location:
Full-Time Employee
Employment Type:
Hour
Pay Type:
N/A
Pay Rate:
Accounting
Store Type:

Job Description

Securities Lending Associate-Junior

BCforward is currently seeking highly motivated Disaster Recovery Specialist for an opportunity in Chicago, IL.

Summary

Position Title: Securities Lending Associate

Length of Contract: 6 months

Working Location: 100% remote for now

Location: 790 N. Water St., Floor 11, Milwaukee, Wisconsin 53202

Working Hours: 40 hours/week, Monday-Friday, shift could fall between 7-3, 8-4 or 9-5, albeit not on a rotating basis

Role Mandate:

• Securities Lending Associate provides post trade settlement services including loan and return settlement, collateralization, recalls and reallocations, asset maintenance, corporate action processing and balancing, and allocation of cash collateral.

• This requires familiarity with all types of securities and their specific processing requirements and to have a good understanding of how each security type settles and accrual calculations.

• The Associate must monitor daily the status of trades in progress and communicate with securities lending traders, borrowers, colleagues, investment managers, and other custodial banks.

• The Associate assists the manager in ensuring volume goals, turnaround times and quality expectations are met, while maintaining strict adherence to control procedures and compliance regulations.

• Escalate/assist the manger with complex problem resolution.

• Fulfill routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/requests and/or audit/reconciliation activities.

• Analyze and resolve more complex issues efficiently and effectively in accordance with Bank and industry standards. Recommend/implement process improvements.

Role Responsibilities Include (but are not limited to):

A. Product & Process

• Monitor, reconcile, balance and post activity for the DTC (The Depository Trust Company) and FED (Federal Reserve Bank) and International securities

• Monitor and review all corporate actions related to securities out on loan and processes related activity.

• Must be able to understand all types of mandatory and voluntary corporate actions and determine when the corporate actions must be processed on the system

• Review Recall and/or re-allocate securities as required, making decisions on which loans securities need to be recalled or reallocated and minimize exposure to potential Buy-In's

• Post cash transaction activity on the trust accounting system

• Accurately build securities and maintain security master

• Ensure loans are appropriately collateralized. Calculate margin requirements to ensure compliance with internal and client guidelines, and provide reporting to management, audit, and clients.

• Update rebate rates on securities lending system and disseminate information to the borrower community

• Effectively communicate with borrowers, third party custodial banks, lenders, and portfolio managers, and colleagues.

• Provide daily reconciliation of positions out on loan

• Generate accurate yields and PVAM (NAV) of collateral reinvestment accounts

• Generate and distribute client statements

• Provide support for department reporting needs

• Assist the manager by performing activities such as coordination and scheduling of work, resource forecasting, quality control, training, team coaching and guidance, research, and problem resolution.

• Research special items and complete special projects as needed

• Build productive relationships within line of business (LOB) and other functions through responsiveness and support.

• Proactively work with others (i.e., on own team, other operational areas, or with the internal business partner and/or external customer) to ensure delivery of timely, quality, and efficient fulfillment activities.

• Ability to effectively prioritize work and adapt quickly to shifting priorities

B. Risk and Control

• Escalate issues that require resolution by the manager, as per guidelines

• Identify potential risk situations/impacts, and make recommendations or escalate to the manager

• Review transactions and requests for compliance with regulatory and Bank requirements, as required.

• Monitor production logs and schedules to ensure key controls are followed and exceptions are actively pursued; escalate to the manager as appropriate.

• Ensure all appropriate authorizations/approvals are obtained in accordance with policies and controls.

• Ensure adherence to all aspects of First Principals, Our Code of Business Conduct, and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, policies, and procedures for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy, and disclosure of outside business activities.

• Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and ensure compliance with the Bank's policies and procedures.

• Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation.

Nice to Have Skills:

• 3+ years of related experience in asset management, wealth management, trust operations management or operations securities

• Strong knowledge and understanding or the business unit's key products and services, processes and controls which includes Securities Lending, Custody operations, and Fund Accounting process.

• Strong understanding of business unit's risk and regulatory requirements

• Strong knowledge of departments systems and applications including DTCC, FED, BNY Mellon, Loaned, Bloomberg

Soft Skills:

• Strong analytical and problem-solving skills

• Strong investigation skills

• Strong prioritization skills

• Strong organizational skills

• Good customer service and relationship management skills

• Strong interpersonal skills

• Good change leadership skills

• Good written and oral communication skills

• Ability to multi-task in a fast-paced environment

About BCforward:

BCforward began as an IT business solution and staffing firm. Founded in 1998, BCforward has grown with our customers' needs into a full-service personnel solution's organization. Headquartered in Indianapolis, Indiana, BCforward also operates numerous delivery centers across North America and India. We are currently the largest consulting firm and largest MBE certified firm in Indiana. Our uninterrupted growth has allowed BCforward to deliver uniquely configured IT staffing and project solutions for over the years of catering to our customers' specific needs. BCforward currently maintains a team of over 5000 global resources. With our additional brand, Stafforward, together we have the capabilities to deliver services for a variety of industries in both public and private sectors which allows us to address your most challenging needs.

www.BCforward.com

www.facebook.com/bcforward

We must inform you that during the hiring process, we may ask for you to disclose and provide us with various categories of your personal information, including identifiers such as your name and address, professional information, commercial information, education information, and other related information. Please note that we will only use this information to facilitate and complete the recruiting process. This posting is not an offer of employment. The submission of intentionally false or fraudulent information in response to this job posting shall render the applicant ineligible for the position. BCforward is an equal opportunity employer. Any subsequent offer of employment shall be considered employment at will regardless of the anticipated assignment durat

Interested candidates please send resume in Word format Please reference job code 130063 when responding to this ad.


Job Requirements

 
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