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Assistant Vice President – Global Markets Operations Specialist
Finance & Investment Industry Company
Jersey City, NJ, United States
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About Company:
Company is a leading bank in Europe with an international reach. It has a presence in 74 countries, with more than 192,000 employees, including more than 146,000 in Europe. The Group has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. The Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and Company Personal Finance is the leader in consumer lending. Company is rolling out its integrated retail-banking model in Mediterranean countries, in Turkey, in Eastern Europe and a large network in the western part of the United States. In its Corporate & Institutional Banking and International Financial Services activities, Company also enjoys top positions in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific.
Company website
Business Overview:
Global Markets Operations plays a vital role in supporting the Global Prime Services business. Global Prime Services provides clients an impressive breadth and depth of services including Securities Lending, Synthetic Financing & Traditional Margin Lending, Global Execution, and Investor Capital Services through a #1 ranked Global Prime Broker platform. Within that framework the Margin and Fund settlement team works directly with the business’ relationship management and risk teams to ensure industry regulatory guidelines pertaining to the extension of credit on behalf of client accounts are properly maintained. Members of the margin and fund settlement team must consistently provide business partners with quality service while protecting customer and firm assets.
Responsibilities:
The Prime Services Margin candidate will be responsible to work across the group operations and provide expertise in the following areas:
• Monitoring of day to day activity within customer hedge fund and firm affiliate margin accounts to ensure compliance with regulatory rules relating to the extension of credit.
• In depth knowledge and ability to apply practical interpretation of Federal Reserve Regulation T and FINRA rule 4210.
• Thorough understanding of US Portfolio Margin risk based rule set along with other ‘risk based’ hedge fund product such as, Arranged Finance, Enhanced Leverage, etc.
• Excellent understanding of Prime Broker business related to funding needs, re-hypothecation and Securities lending.
• Experience in working with Legal, Compliance and Risk in order to discuss firm margin policies.
• Managing referential data supporting margin calculations and client/position related exceptions.
• Knowledge of tri-party lending business and associated custodian reconciliations.
• Management of money market sweep products including daily settlement and reconciliations.
• Management of customer account transfers (ACAT).
• Experience with client DVP/RVP fail management as regulated under Regulation T 220.8 and SEC rule 15c3-3(m).
Additional Responsibilities:
The Prime Services Margin team’s daily activities include:
◦ Review, validation, distribution and follow up to resolution of all regulatory and risk based margin calls for client and affiliate accounts.
◦ Review/approve customer asset movement requests (cash wires and securities).
◦ Resolve daily reconciliation break items effecting client positions and balances. Provide updates to business partners and bank custodians as effecting client margin calculations.
◦ Manually recalculate Reg T SMA and house margin and provide business partners feedback as appropriate to support asset movement requests.
◦ Assist with weekly 15c3-3 customer reserve computation,
◦ Support daily money market sweep settlements and client redemption/purchase trading.
◦ Support ACAT review of incoming/outgoing clients to ensure firm risk guidelines are adhered to.
◦ Daily interaction with business and risk managers to evaluate client requests and portfolio risk associated with volatile markets.
◦ Validate and be accountable that all tasks are completed according to departmental and regulatory guidelines.
BNPPRSR
Minimum Qualifications:
• 4 -7 years of experience relative to the extension of customer credit
• Bachelor’s degree from accredited university
• Thorough knowledge of financial markets and operations as it pertains to Prime Brokerage business
• In-depth knowledge of Federal Reserve Regulation T and FINRA rule 4210
• Proficiency with Microsoft Office Suite
• High level of customer service and communication skills (written and oral)
• Rigorous, good organizational skills and attention to detail
Preferred Qualifications:
• Knowledge of Broadridges’ Brokerage Processing Systems (BPS)
• Understanding of tri-party margin lending business for assets held away
FINRA Registrations Required:
• Not Applicable