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Trade Operations Manager

Banking Operations
United Kingdom
20-06-2022 01:46 PM
Role: Trade Operations Manager 
Positions: Permanent 
Salary: Up to £55,000

Overview of the role:


  • Manage and be responsible for client & market settlement for both domestic and international trading - encompassing UK, North America, Europe, and APAC markets, with associated custody on the dealing and custody platform.
  • To monitor and manage the firms risk exposure to incomplete trades that are past intended settlement and monitoring of settlement discipline inclusive of CSDR penalties & buy in risk.
  • Working with clients and market counterparts to build relations to ensure timely settlement and adherence to market developments & regulatory change.
  • Ensure all client contract notes are produced in accordance with the regulatory timeframe.
  • Continually improve the settlement and custody processes especially as volumes increase.

Trade Support

  • To ensure oversight of the fund order routing and placement, ensuring client orders are processed according to the procedure.
  • Review of failed fund orders pre execution, ensuring receipt and placement for the desired valuation point by the fund manager or their TA.
  • Ensure timely execution of client fund trades in line with fund dealing cut offs, encompassing price tolerance checks for those manually processed.
  • Focus on maximising STP rates to increase capacity within the team.
  • Work with the dealing team to ensure all checking mismatches are resolved with both market and client counterparts.
  • Ensure appropriate adherence to large order policy where required.
  • Ensure all trade corrections are actioned and logged as per the company policy.

Cash Management

  • Ensure all money received is processed in a timely fashion, ensuring prompt allocation to clients and customers, maintaining adherence to the CASS rules.
  • Reviewing and authorising payments to clients and market counterparties.
  • Ensure Client Money Diversification is within tolerance.
  • Ensure all relevant funding for CSD’s and Custodians is in place minimising overdrawn balances and associated fees.

 Management Responsibilities

  • To oversee through direct reports the Trade Operations function.
  • Formal objective setting & appraisal meetings for staff.
  • Manage the team workload effectively delegating work amongst team members. Define operational workflows.
  • Ensure oversight and sign-off day to day control checklists.
  • Ensure the timely investigation and resolution of reconciliation breaks.
  • Promote a culture of root cause analysis to prevent reoccurrence of exceptions and control deficiencies.
  • Keep abreast of market developments & regulatory changes that impact the business and translate to business requirements.
  • Manage & Mitigate risks to the service, including, but not limited to operational risk, reputational risk, product risk & settlement risk.
  • To build and maintain a strong culture of compliance, risk management, integrity, client focus and other such Winterflood or Close Brothers values. 
Key skills required:
  • Good CREST Knowledge.
  • Understanding of CASS rules and how they apply to retail customers.
  • Ability to focus and commit to delivering against deadlines.
  • Good organisational skills with the ability to multitask and deal with multiple issues via different forums.
  • Effective and proficient communication and written skills.
  • Ability to prioritise, be responsive, deal with ambiguity, and respond to changing environment.
  • Understanding of the processing and settlement of equities, fixed Income, closed and open-Ended Funds, Structured Products including pricing calculations and market charges.

Josh Angus

Managing Director

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