Settlement Job Description

Settlement Job Description

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Settlement provides overall general Accounting and Finance support for Product Management and Accounting including: Account Reconciliations, ad hoc Reporting, Variance Analysis and other.

Settlement Duties & Responsibilities

To write an effective settlement job description, begin by listing detailed duties, responsibilities and expectations. We have included settlement job description templates that you can modify and use.

Sample responsibilities for this position include:

Perform Settlement Operations balancing procedures for platforms
Develop policies for estate settlement and account termination including the death of an IRA owner in partnership with Risk, Legal and Compliance that align with the prudent investor rule additional state and federal laws
Using excel key enter the check number, date and amount with the status of “history” or “open”
Support the development of standard operating procedures, performance reporting, and operating rhythm to foster a controlled and structured environment
Perform daily balancing, reconciling and researching of the bank’s general ledger accounts externally held DDA accounts
Liaises with various areas outside of Sales & Service on a routine basis including Treasury and Accounting in Wilmington, Disputes, Fraud and Collections
You will also manage all aspects of trade settlement
Daily processing of exceptions in order to ensure the appropriate
Controls the clearance functions for DTCC eligible securities or Federal Reserve eligible securities trades at the Bank of New York
Assists Treasury Management department in projecting the Firm’s cash positions at the clearing facilities

Settlement Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Settlement

List any licenses or certifications required by the position: MBTA, FSA, CPA, CFA, FPC, CPP, ACLS, BCLS, ENPC, PALS

Education for Settlement

Typically a job would require a certain level of education.

Employers hiring for the settlement job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Accounting, Finance, Business, Economics, Education, Computer Science, Business Administration/Finance, Communication, Associates, Finance/Accounting

Skills for Settlement

Desired skills for settlement include:

Internal control structure & compliance
Cash management
SWIFT
Settlement Operation process
Procedures
Account reconciliation and balancing processes
Accounting principles
Financial analysis
Policies
Excel

Desired experience for settlement includes:

Monitors Institutional customer Reg-T & Rule 15c3-3 requirements, and files extensions as needed
Re-submits or cancels ID confirms as requested by Institutional Trading
Balances and monitors various Suspense and General Ledger accounts, and resolves exceptions
Preparation and calculation of Repurchase/Reverse Repurchase Agreement exposure
Assists with collection/payment of open money differences due to Cancel/Rebills
Coordinates with the Stock Loan/Borrow department any daily activity of Federal Reserve eligible securities

Settlement Examples

1

Settlement Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of settlement. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for settlement
  • Provide support to the Estate Settlement Officer in making distributions, wire transfers, bill paying and other actions related to the estate administration process
  • Reconciliation of internal reports with clearing reports
  • Tracking breaks and fails
  • Researching and rectifying discrepancies
  • The individual will be responsible for balancing the days work on the processing platforms mainly using spreadsheets and also forecasting and balancing the daily movements on the many bank accounts used to support the process
  • Stakeholder Manager - External
  • Stakeholder Manager - Internal
  • Manage payment processing to include ACH, Wire, and check
  • Work within accounting team on responsibilities during busy times with cross training, ad-hoc reporting, audit inquiries, and process improvements
  • Prepare regulatory filings for various government entities
Qualifications for settlement
  • This position works 12 hours shifts - 3 days one week and 4 days the next week (including one weekend day)
  • Demonstrates technical aptitude for various FDC USA tools---i.e
  • Bacs Support
  • Sameday Manual funding, preparing and Keying payments
  • 3-4 years experience in accounting related functions to include quality monitoring and validating processes
  • Experience in finance will be an additional value
2

Settlement Job Description

Job Description Example
Our growing company is searching for experienced candidates for the position of settlement. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for settlement
  • Primary role will focus on Pin Debit reconciliation, exceptions, and cash movement
  • Settles trades for equities, corporate and municipal bonds, and money market instruments via the Depository Trust Company (DTC) and treasuries and government agencies
  • Use wires to complete cash settlement of securities such as Euro Time Deposits, Tri-Party Repurchase Agreements, Term Loans, and TBAs
  • Processing money orders through E ticket system (online DDA system) for related security transactions
  • Balancing the trust systems postings daily to the Trust DDA accounts to verify the accuracy of posted transactions and researching trade issues, cash and security differences with our business partners
  • Coordinate all division responsibilities for settlement (inspections, occupancy certificate, termite, keys)
  • Confirming and affirming trades with applicable depository and brokers
  • Manual data input and processing
  • Performing position reconcilement
  • Researching and resolving unmatched DTC trades
Qualifications for settlement
  • Experience with third- party card processors
  • Finance experience in banking
  • Previous bookkeeping experience and/or accounting courses preferred
  • Must be detail oriented and able to handle multiple tasks effectively
  • Experience in production environment is preferred and experience of banking would also be beneficial
  • Experience of merchant acquiring platforms beneficial
3

Settlement Job Description

Job Description Example
Our growing company is looking for a settlement. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for settlement
  • Performing other functions as assigned by management
  • Communicate with internal and external clients (both domestically and internationally) regarding operational processes and client inquiries ensuring all service level agreements are met or exceeded
  • Loaning excess securities to raise short term funding
  • Borrowing securities for trade settlements
  • Reviewing transactions to comply with 15c-3-3 rules and regulations governing short sales
  • Monitoring and resolution of escrow transactions executed through the Option Clearing Corporation
  • Tracking breaks and fail researching and rectifying discrepancies
  • Group all returned branch checks by bank account and year
  • Verify check numbers by key entering into Great Plains for status
  • Work with the Unclaimed Property Analyst / Settlement Support to determine bank status
Qualifications for settlement
  • Associate's Degree in Finance, Accounting, or related area or equivalent experience
  • Have track records of outstanding professional performance or academic achievement, along with excellent analytical skills strong communication skills
  • Investigate and resolve T+1 cash and position breaks
  • Perform client services functions – Answer client queries (phone and e-mail), re-issue statements and reports on demand, review fees and commissions
  • Responsible for ensuring that all key controls are performed
  • Advanced knowledge of Microsoft Office products preferred
4

Settlement Job Description

Job Description Example
Our growing company is looking for a settlement. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for settlement
  • Processing and routing of all Swift traffic
  • Using Ticket system request additional details from IT (Stock, voucher, etc)
  • Review report from IT and determine if you will need to void checks in financial system
  • Manage effectively the existing processing team while looking for cost saving opportunities and implementing them where possible
  • Ensure that Carriers are paid per their negotiated payment terms
  • Continually optimize best cost / best service relative to transportation by supporting the bi-annual contract negotiation process
  • Develop effective reporting to provide key metrics to the Segment Finance teams
  • Help to create a positive and winning culture within the Global Transportation team by developing the Freight Settlement team for next level assignments, training, recognition and leadership
  • Help refine metrics - measures, monitors and develop performance reporting on an ongoing basis
  • Train and onboard Route Settlement Specialists
Qualifications for settlement
  • Associate's Degree in Accounting, Finance, Computer Science or Business or equivalent business experience preferred
  • A professional manner and discretion with client's personal matters
  • Capacity to prioritize daily tasks to ensure time frames for multiple tasks is met
  • Display excellent communication skills including solid written and verbal communication skills
  • 2-Year Accounting, Finance, Computer Science or Business Degree or equivalent business experience
  • High School diploma or general education degree (GED) and 1-3 years related experience or equivalent combination of education and experience
5

Settlement Job Description

Job Description Example
Our innovative and growing company is looking for a settlement. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for settlement
  • Lead monthly meetings to develop function and credibility
  • Review and develop procedure documentation and update as needed
  • Develop and implement process changes as needed such as invoice adjustments
  • Collaborate with inter-dependent functions to communicate the process and impact on one another (most often Distribution and Order Entry)
  • Closing process of all primary and secondary par loan transactions must adhere to LSTA standards
  • Accurate data entry for new home options and contracts and addendums
  • Manage audits for department – internal, statutory, ISAE3402, LINK, SOX, accounting oversight
  • Manage BCP process for department Control accesses for department – system/banking
  • Management review and sign off of daily processes – balancing, forecasting etc
  • Authorise manual payments and payment files Manage the gathering of meaningful metrics
Qualifications for settlement
  • Ability to carry out detailed oral and written instructions
  • Ability to plan, schedule, and complete job tasks usually completed within one week
  • Bachelor’s level student (36-24 credit hours from graduation) with a concentration of Accounting or Finance
  • Must be highly motivated and passionate about providing high-quality customer service
  • 3-5 years experience in Accounting and the ability to handle a large volume of data
  • Must be proficient in Microsoft Office and be customer service orientated

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