Department: Global Markets Operations – Product Accounting Control
About Business Line/Function
Global Market Securities Settlements ensures that Security transactions (Bonds, Equities, Complex Securities, ETF, SLAB, PNS.) and positions registered in the books under CIB ITO’s mandate match the commitment taken counterparties within a secure setup, in accordance with Group and Regulatory Policies and/or contractual agreements.
Within the Securities Settlement Department, the main processes include pre & post settlement activities, clearing, and event-related accounting for securities deemed in scope.
The Recon & Control is a department within Control & Regulatory team that handles cash reconciliations, P&L; reconciliation to sub-ledger, balance sheet substantiation, covering Fees and invoicing process, as well as general accounting, control, and reporting responsibilities
Position Purpose
Primary responsibilities of the team include:
Settlement of Security transactions and associated products in a timely and cost-effective manner
Timely resolution of nostro and depot breaks
Mitigation of operational and reputational risk by escalating in a timely and effective manner.
P&L; reconciliation to sub-ledger, balance sheet substantiation, covering Fees and invoicing process, as well as general accounting, control, and reporting responsibilities
Responsibilities
Key Responsibilities
Deliver the reporting of P&L; results to the respective middle office teams.
Validate reconciliation of (but not preparation of) middle office P&L; to the General Ledger.
Certify Cash “Nostro” reconciliations and ensure reported in a timely manner.
Support the general ledger balance sheet substantiation and investigation, including break resolution for activity under our control remit.
Support the controls ensuring the integrity of the Stock Record and all positions
Assist on projects including but not limited to system upgrades, implementations, & automations.
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