Lead Operations Officer, Foreign Exchange Operations (Banking)
77 King St W Toronto, Ontario M5K
Our client, a leading financial institution, is looking for a Lead Operations Officer, Foreign Exchange Operations to join their team for a maternity leave contract (between 12 and 18 months)
Opportunity Number: 63705
Location: Downtown Toronto - King Street West @ York Street
Pay Rate: $26.01/hour
Hours of Work: Monday to Friday, rotating 8 hour shifts between 7:30am and 6:30pm
Contract Duration: 12 to 18 months
The FX Operations team is part of Global Capital Markets Operations and partners with the various Sales & Trading teams and other areas within the Securities teams globally to mitigate risk for our company and our clients. We are a global team responsible for performing operational risk management functions to protect the accuracy and efficiency at every step of the FX trade life cycle. The team is heavily involved in strategic initiatives, business development and process improvements to optimize efficiency, enhance client service levels and reduce risk.
Provide operational risk and control functions for the Global Foreign Exchange (FX) business with a focus on trade settlements as well as confirmations, allocations and post-trade reconciliations. Examples of this include:
- Ensuring all trades are accurately confirmed within 24 hours in compliance with the Banks Confirmation Policy and Procedures and all Service Level Agreements.
- Ensuring Standard Settlement Instructions (SSI) are accurately selected and attached to facilitate timely settlement of FX trades thereby avoiding any potential loss to the Bank.
- Investigating any trade discrepancies that may result in a significant risk and/or loss to the Bank and immediately escalating to senior management and the respective Sales & Trading teams.
- Assisting to resolve operational issues by determining appropriate resolution and root cause analysis to ensure the Bank/clients are not exposed to any significant risk, penalty or loss.
Key responsibilities of this position include:
- Ensuring all outstanding trade confirmations are immediately verified and that all actions taken in the confirmation process are clearly and promptly audited in the source system.
- Ensuring all settlement issues are identified and resolved accordingly within the required guidelines.
- Reporting and escalating all technology issues, client issues, Sales & Trading issues and failed trades to senior management accordingly.
- Overall accountability and governance of cash break reconciliations by liaising with clients, correspondent banks, Sales & Trading teams and other partners to resolve them as per procedural guidelines.
- Providing a high level of customer service to our clients and acting as a point of contact for all customer inquiries.
- Developing and maintaining positive working relationships with our clients and internal groups to ensure an exceptional level of service is provided on an ongoing basis.
- Exploring and delivering process improvements to drive efficiency and streamline the FX trade life cycle.
- Settlements Based Role - payment in and out in multiple currencies
- Minimum of two years capital markets experience preferably within an operations role with exposure to and knowledge of FX products, including Spot/Forwards, Swaps, Non-Deliverable Forwards (NDFs) and FX Options.
- Sound knowledge of Microsoft Office, proficiency in Excel is a must, coupled with the ability to learn and apply skills to new software programs.
- Ability to adhere to strict deadlines and handle high volumes of work
- Excellent organizational and time management skills
- Ability to adapt to changing policies and procedures
- Flexibility to work beyond normal business hours when required
- Attention to detail is crucial
- Computer savvy
- Knowledge of payment processing, including SWIFT wire payment system
- Experience with Murex or Wall Street Systems is a definite asset
- French language skills are considered an asset
To apply, please click Apply Online or submit your resume by email to: BMRresume@bagg.com
View all of our job postings at www.bagg.com
Accommodations are available upon request to support your participation during all stages of the recruitment process.