An experienced individual for our Markets Operations – Foreign Exchange Confirmations & Settlements team responsible for trade confirmation and settlement in line with market deadlines and internal SLAs. The individual should possess extensive knowledge and experience on securities, settlements, claims, rates, treasury products, and related financial attributes. Will require to work closely with Business teams, Functional teams, Business Risk, Compliance and Technology teams on day to day basis to ensure seamless BAU.A large element of the role is transformation of the function, from operating model changes to a new technology infrastructure to reduce risk, create efficiency and improve service delivery. The role will need to drive the transformation whilst remaining focused on BAU so as to not compromise on service.
Why this role is important to us
The team you will be joining plays an important role in the overall success of State Street. As a leading provider of trading and lending solutions to the world’s institutional investors, we deliver the industry’s most innovative platforms, financing and portfolio solutions. Our capabilities are backed by proprietary, high-value research, insights and indicators that power clients’ investment decisions, accelerate performance and help investors stay ahead of shifting markets. Across our comprehensive set of solutions – data-driven macro market intelligence that give an information advantage; client-first platforms and tools that redefine trading; financing solutions that streamline liquidity access; and portfolio solutions designed to help achieve peak performance – we deliver a breakthrough edge to drive business success.
With our FX solutions, investors can access a wide range of markets and jurisdictions using our decision-making and strategy planning tools, diverse funding options and trading strategies. We deliver sophisticated avenues to tap into new sources of liquidity, capitalize on market opportunities and transact efficiently in any market environment. We have a range of solutions from various high- to low-touch principal execution methods, and outsourced agency hedging and execution solutions through our currency management offering.
What you will be responsible for
As an Officer you will
- Manage the end-to-end FX confirmation and Settlement process in line with market deadlines and internal SLAs.
- Liaise with front office, compliance, finance, claims, and IT teams to support the full trade lifecycle.
- Lead and drive the transformation initiative to deliver a global standardized operating model supported by new technology infrastructure.
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- Responsible for Markets participation in programs such as ISO 20022, TD+1, and other bank wide initiatives.
- Responsible for the timely and accurate delivery of all cash (payments) and securities (collateral and investment) ensuring minimal operating losses for FX businesses.
- Focus on the control environment to drive a strong risk & control culture across the global teams to ensure processes are robust & compliant.
- Partner with Technology and partake in Markets Operations to deliver a best-in-class E2E workflow solution, removing manual touchpoints and increasing STP
- Support applicable Change the Bank and Run the Bank Projects impacting the team, from inception; providing SME support, testing and monitoring into Production.
- Ensure vendor oversight and hold them accountable to high standards of delivery. Stay abreast of all regulatory and market changes and ensure adherence and no impact to service standards as a result of these changes.
- Partner with ERM and compliance colleagues globally to ensure Markets Operations remains disciplined with respect to adherence to resiliency strategy, control assurance etc.
- Support audits and ensure adherence to operational risk and compliance policies.
- High level of personal commitment to each task, can-do attitude, and a drive to deliver.
- Proactive approach to problem solving, delivering results and finding better ways.
What we value
These skills will help you succeed in this role
- Strong risk mitigation, problem solving, and decision-making skills
- Ability to think critically and resolve complex problems
- Drive automation initiatives to improve operational efficiency
- Stay updated on industry regulations and best practices related to FX Confirmation, Settlement operations.
What You'll Bring To The Role
- Front-to-back knowledge of the FX Confirmation, Settlement, systems, markets and instruments
- Hands-on experience in managing Interbank, Corporate, CLS, CLS_NET settlements
- Working knowledge in Settlement/Payment department & understanding payment life cycle
- Familiarity with systems such as ION, GTSS, Bloomberg, FXALL, SWIFT and Misys
Education & Preferred Qualifications
- Graduate and above preferably in Finance
- B.COM, BBM/BBA. MBA (Finance), M.COM or any degree related to Finance or Commerce
- Good knowledge in Back-office confirmations and settlement
- Knowledge of Global Markets, custody, cash management and payment systems
- Good Communication Skills both written and oral
- 10+ years of experience in Financial Services industry
Additional requirements:
- Certification on NCFM / CISI (Chartered Institute for Securities & Investment)
- Knowledge on Macros, SQL & MS Access Database queries
Process : Foreign Exchange Confirmations & Settlements
Shifts (in IST) : APAC Shift – 5AM to 2PM IST
Location : Hyderabad /Bangalore
Persona : 4day Work from Office
Due to the role requirements this job needs to be performed primarily in the office with some flex work opportunities available.
Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you. State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
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