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Analyst
Societe Generale
Jersey City, NJ, United States
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Environment
DEPARTMENT DESCRIPTION
The Operations Quality Control Team (OPER QTY Team or QTY) is responsible for the reconciliation and control of cash, clearance, position, and suspense accounts in the Branch (SGNY) as well as the Broker Dealer (SGAS-NUSA). The team is also responsible for the production of Daily/Weekly Monthly KPI Reports and Metrics.
This is accomplished through the oversight and control of reconciliation functions performed by SG Bangalore, by Ridge (Broadridge), and in the NE (legacy Newedge) Chicago office, in various tools or manually. The cash, clearance position and suspense accounts are reconciled in NXG (a reconciliation application), and in certain cases, manually via Excel or like application. At a portfolio level, there are approximately 11,300 accounts which are reconciled and controlled by the group on a daily basis.
The accuracy and timeliness of reconciliations are critical, for purposes of risk identification and regulatory requirements. In Chicago, where QTY is responsible for securities and cash reconciliations related to the Listed Derivative business, accuracy and timeliness are especially important due to regulatory reporting implications and impact.
The FO/BO (Front Office/Back Office) reconciliations are performed by the OPER QTY - DQC team (Data Quality Control part of QTY). The reconciliations are comprised of over 45 NXG trade and position reconciliations supporting approximately 20 trading systems. In addition there is also a daily NAV Reconciliation performed in SG Bangalore controlled by the DQC.
The team interacts heavily with the Operations Processing Groups, SG Oversight Team, FIND, Regulatory Reporting and Audit (Internal, External, Inspection, Exchange, CFTC, FINRA, FED, and NY State).
Mission
RESPONSIBILITIES
• Quality control and oversight of reconciliations produced both locally and remotely
• Analyze and resolve cash, position, suspense and general ledger discrepancies for various systems.
• Understand risks associated with these breaks to prioritize workload.
• Communicate with internal operational departments as needed to develop an action plan for resolution, as well as the appropriate escalation.
• Serve as back up to other members of the group.
• Work as part of various project groups designed to improve controls and efficiency.
• Project work as it relates to the Cash Reconciliation group.
• Identify areas for improvement & work with management to implement recommended changes.
• Audit interface (FINRA, The Federal Reserve Bank, E&Y, D&T, Internal Audit, Inspection (SG Paris), and Inspecteur de la Banque de France), SAFE Spot Check
• BCP (fractional resiliency for the Bangalore team).
• Balance certification ( BCT) responsibilities: Certification of balances in GL accounts utilizing related reconciliations and working with BCT manager to investigate root cause for “RED” rated accounts, Red rated accounts contain cash breaks over a certain value and aging parameter.
Profile
SUPERVISION DUTIES:
• Strong analytical skills.
• Detail-oriented.
• Strong desktop skills, especially Excel.
• Strong organizational, time-management, and multi-tasking skills.
• Experience with work requiring attention to detail, independent problem solving, as well as adherence to strict rules and standards.
• Ability to effectively communicate (verbal and written).
• Good documentation skills.
• Strong leadership Skills.
• Ability to manage complex tasks as well as the resources assigned to those tasks.
• Proven ability to partner with others in the organization outside their sphere of influence.
Evolution
SKILLS AND EXPERIENCE NEEDED:
Technical Skills:
Plus: Excel functionality - Vlook ups, pivots, various commands when comparing data of various sources.
Experience Needed:
Desired / Plus:
◦ 4-5 years relevant industry experience, specifically related to Reconciliation/Reporting
◦ A complete understanding of what constitutes a control environment rich in “checks and balances” controls.
◦ Solid understanding of cash flows within the Back Office.
◦ Leadership experience and working well within the team
◦ Change management experience
◦ The proven ability to constructively suggest and to execute, process change.
◦ Innovation achievements
Educational Requirements:
Desired / Plus:
• Degree in Accounting, Finance, Economics or equivalent