BBVA Compass

Securities Operations Specialist III

Job ID
2017-104264
NY-NEW YORK CITY-BBVA NY
Category
CORPORATE & INVESTMENT BANKING
US-NY-NEW YORK
FLSA Status
EXEMPT
Type
FULL TIME

Overview

 At BBVA, we are working to make banking better for everyone. That is where you come in. We are looking for smart, team oriented people who want to be part of a first-class workforce that gives people the tools they need to meet their financial goals, all while delivering an outstanding client experience. Learn more below.
 

Responsibilities

The candidate must have specialized knowledge of broker dealer settlement activities for domestic and international securities.  This position is responsible for supervising and controlling the local and international settlement activity performed by an outsourced vendor on behalf of BSI. The specific duties of this position include: 

  • Assist monitoring the performance of services from Broadridge (outsourced provider)
  • Support Front Office and Middle Office as necessary
  • Balance and control of cash accounts in all currencies within the different custodians (BONY, DTC, Clearstream, Citibank)
  • Run and analyze reports from IMPACT to solve position inquiries
  • Improve and optimize layouts to satisfy new projects
  • Upload layouts as per BBVA requirements to Latin American custodians
  • Reconciliations and investigations on claims, coupons, commissions, financial costs
  • Follow up on all failing trades, updating reasons, creating a Fail Report to send to traders, Compliance and interested parties. Strong Knowledge of Cognos system is required
  • Utilizing Bloomberg, knowledge to avoid risk in settlements and gain control on allocations from counterparties
  • Monitor and reconcile RAD, CNS, Obligation Warehouse, GSCC, GSTRRP, GLYRRP, DOP
  • Conversion process
  • Review and compile daily reports and reconciliations to / from Broadridge
  • Funding custodians and maintain balance of main operating account
  • Assist resolving issues and/or disagreements
  • Monitor systems
  • Daily payment processing
  • Ad Hoc projects/assist co-workers
  • Cross training with other team members
  • Ensure daily balancing of clearing systems: Bancomer, BONY, DTC and Clearstream
  • Liaise with local LATAM desk for settlement issues
  • Assist with defining BBVA Operations’ Policies and Procedures
  • Assist with internal and external audit, as well as regulatory requests for information
  • Execute Test Business Continuity Recourse
  • Assist in monthly meetings between Broadridge and BSI. Prepare monthly reporting of service level agreement performance and metrics.
  • Review daily prospectus and 10B10 reconcilations
  • Review and deliver daily BONY Position to BBVA Madrid
  • Provide weekly and monthly statements to Finance Department
  • Daily Review of 15A6 reconciliation
  • Perform root cause analysis of issues to prevent re-occurrence. Escalate issues and remediation actions immediately to direct supervisor and outsourced vendor.

 

The position requires extensive knowledge of fixed income trade settlement processes and procedures for foreign currencies (such as currencies for countries including Mexico, Peru, Chile, Colombia, Argentina and Europe), and of third party depository systems and procedures (DTC, Clearstream, BONY). Critically, it requires an advanced level of specialized knowledge regarding BBVA’s complex in-house systems and procedures used in reviewing, clearing and releasing trades, as well as reporting.  Once a BBVA trader puts a trade into BBVA’s in-house front office Star system, the BSI Operational Control Specialist ensures that the outsourcing entity releases it to the third party depository system; reviews the trade, confirms all aspects of the trade (and resolves any issues).  In order to do this, the BSI Outsource Control Specialist must supervise and control the activities through the Broadridge interface, where he/she must perform required reconciliation of each depository system.  The user must be able to develop methods to enhance the operating process such as cash flow, manuals, etc. with little or no guidance.

Qualifications

  • Bachelor Degree in Business, Finance or Accounting
  • Minimum of 5-7 years experience with Back Office Fixed Income Products
  • Strong proficiency with IMPACT (Back Office System) and Cognos systems required
  • Strong proficiency with eGUARD system
  • Strong knowledge in the Latin American Markets especially in Mexican, Argentinean and Peruvian Bonds. 
  • Series 7 and 99 required
  • Strong organization and time management skills
  • Ability to juggle many tasks at the same time and work independently
  • Knowledgeable in the monitoring and control process of outsourced operational activities
  • Fluent in English (required) and Spanish (preferred)
  • Excellent written and verbal communication skills

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