Senior Associate - Euroclear Settlements; Claims processing

Job Number : J0424-0198 Job Type : Full Time Job Category : Information Technology Location : Montreal, Quebec Salary : Open

Senior Associate - Euroclear Settlements; Claims processing

This is a French international banking group and the world's largest cooperative financial institution. It is second largest bank in France, after BNP Paribas, as well as the third largest in Europe and tenth largest in the world.

Nearly 8,600 employees across Europe, the Americas, Asia-Pacific, the Middle East and North Africa support their clients, meeting their financial needs throughout the world.

This bank offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade.

The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.

They are near-shoring from their New York office and moving their operations to Montreal which is exciting news! This a chance to join a very stable environment as these roles already existed in New York before the move.

They have a number of positions to fill and are hoping many will be excited to be a part of their new start in Montreal.

Title : Senior Associate - Euroclear Settlements; Claims processing

Location : Montreal

Work model : Hybrid, 2-3 days remote work allowed

Type of position : Full time and permanent

Salary : 95k. 4-5 weeks vacation. They offer a great benefits package. RRSP matching, you contribute 2% and they contribute 8%.

Requirements

• Responsible for the clearance and settlement of the firm’s trading activities through the Euroclear Bank processing system (EUROCLEAR EASYWAY ).
• Specific knowledge of Canadian market and clearing facilities required.
• Knowledge of Clearstream processing system (Creation Online).
• Knowledge of SWIFT formats and processing.
• Responsible for reporting of failed trades and reconciliation of positions held at agent bank against firm holdings.
• Daily interaction with various internal departments within the firm, along with support of trading groups, mid-office staff and correspondent clearing and affiliate activities.
• Individual will need to possess knowledge of local market trading practices, including buy-in procedures, market trading hours, cut-off times, local tax and with holding status and other practices.
• Knowledge of SunGard / Phase3 processing system & basic Excel skills preferred

Secondary Duties :

• Claims processing- related to US FED wire eligible instruments under the TMPG guidelines & best practices.
• Preparation on a monthly basis of claims to be sent to counterparties from failing UST trades.
• Follow-up on claims to ensure they are transmitted within 10 business days of the month, per TMPG guidelines.
• Research on incoming claims utilizing both BNY BDC clearance system, BNY RDARS and Phase3.
• Coordination on problem claims and counterparts that do not adhere to TMPG practices to management teams.
• Coordination with Finance, Billing & Control & Reconciliation teams on the updates of claims resolution.

Qualifications :

• 5 years of previous experience in dividends / reorg / corporate actions processing in Capital Market Back Office
• Must be willing to work with and articulate-dealing with trading personnel & salespeople daily.
• Mastery of Excel & Power Point. Knowledge of DTCC and Sungard FIS Phase3 system preferred; DTCC, FEDWIRE; Euroclear & Clearstream knowledge required.

Understanding of claims processing and TMPG specific guidelines required.

• University degree desirable
• Knowledge of the capital market financial products and activities
• Knowledge of the banking Front to Back processing and challenges
• A self-starter who is highly motivated.
• Good analytical, organizational and interpersonal skill
• Adaptable & flexible
• Must be a self starter, with excellent problem solving skills & be able to work under pressure.

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