Job description

Job Title: New York Trade Support Analyst- New York

ICBC Standard Bank Plc (“ICBCS” or the “Bank”) is 60% owned by Industrial and Commercial Bank of China and 40% by Standard Bank. ICBCS benefits from a unique Chinese and African parentage and an unrivalled global network and level of expertise.

Operations Department

The Operations department is responsible for ensuring the complete end-to-end processing of the Bank’s transactions and services. They are responsible for ensuring that the appropriate control framework exists to ensure the accuracy of this processing as well as the recording of this in the Bank’s books and records. Operations are also responsible for the accurate and timely reporting of the Bank’s transactions to multiple regulatory stakeholders globally.

The Operations department performs the following functions:

• Trade Support
• Securities Settlements
• Financial Settlements
• Physical Settlements
• LME Trade Clearing Services
• Clearing and Vaulting Services
• Structured and Banking Products support
• Facilitation of trade finance and documentary credit products
• Confirmations
• Collateral Management
• Operations Control
• Balance sheet substantiation
• Nostro production and reconciliations
• Risk and control oversight and monitoring
• Regulatory Operations
• Cash, Interest Claims and Nostro management
• Brokerage Services

The Operations Department forms part of the Office of the Chief Operating Officer (“COO”) which is led by the global COO. The Office of the COO comprises Operations, Technology, Client Management Unit, Business Change, Outsourced Services Management and Business Management.

The New York Office

The New York Office specializes in the following FIC and Commodities businesses:

• Energy – specific emphasis on build-out of the natural gas business, the crude and refined products business, title-based financing transactions, and presence within Energy supply chains (from production, transportation, refining, storing and eventually export into China).
• Metals – particularly Precious Metals which is one of the largest desks in the global Bank. US clients provide a key outlet for platinum group metals (PGM) inflows from clients in Europe and many of the largest Metals clients are US-based. Emphasis on allocated inventory financing, hedging and derivative trading with consumers and producers.
• Collateral Trading - Repo financing business with a focus on collateralised secured transactions which require a deeper understanding of the credit itself and have a high degree of correlation or are too small for the larger banks. Provides services in US time-zone for global based clients with focus on North and South America.
• Investor Sales - Maximizes flow business across external markets (Eurobonds), local markets (FX/Rates), frontier markets and primary markets (New Issuance). Emphasis on build-out of Local Markets and Credit Trading presence in New York and providing Emerging Markets platform for ICBC.

The New York office is led by the New York CEO and comprises of 34 staff from the following departments: Front Office (as described above), Operations, Technology, Finance, Compliance, Human Resources, Client Management Unit, Facilities and Support.

New York Operations Trade Support Team

The team consists of four staff (including this role) and is led by the New York Trade Support Manager. The team covers both FIC and Commodities trade support activities as well as the screening of payments for sanctions.

The team acts as a conduit between the New York Front Office and the global Operations teams, and involves extensive interaction with Operations colleagues in the London office.

Job Purpose

To provide Operational support to the FIC and Commodities businesses and to ensure that all trades are efficiently and accurately booked on Trade Date.

To perform a series of control checks on T and T+1 and liaison with other Operations functions (e.g. confirmations, settlements) in resolving discrepancies / queries with trade bookings.

In addition, there is a significant client facing element to the role in relation to trade allocations, the provision of statements and query resolution.

The role will also provide support as part of the Operations ‘follow the sun’ model for sanctions screening of payments.

The role requires a strong focus and knowledge of the Bank’s operational controls and to understand the requirements of our clients and to ensure that at all times we are keeping operational risk to a minimum. Therefore the candidate must have high levels of attention to detail, be results-focused and be capable of delivering in a high-pressured environment.

Key Responsibilities

• Act as Trade Support for a wide array of products across Fixed Income, FX, Money Markets, Energy, Precious Metals and Base Metals
• Review and validate all non-STP trading activity originating from Front Office on Trade Date by validating trade blotters against system bookings
• Ensure all block client trades are allocated on Trade Date through regular client contact
• Ensure all trades in MarkitWire have been fully processed and are captured accurately in the risk systems
• Ensure all Credit Default Swap novations have been uploaded and matched successfully on trade date in the DTCC and ICE platforms
• Ensure that all cash and security collateral movements relating to the Repo business are captured accurately and in good time in the front office risk system
• Monitor trades as they pass through the workflow in various front office systems and ensure they are quickly moved to back-office queues to enable timely processing of downstream operational functions (trade instruction, confirmation, matching, cash management and settlement)
• Respond quickly to front office requirements for trade amendments / updates by moving trades back through the workflows to front office edit status and monitor timely resolution of completed updates / amendments
• Perform / validate Market Operations (option expiries, rate fixings, terminations, assignments etc.)
• Monitor exceptions on inter-system automated trade feeds and ensure that all exceptions are identified and resolved
• Perform internal trade reconciliations on Trade Date + 1 to identify missing and incorrectly booked internal trades. Work with front office to resolve booking problems in a timely manner and escalate where required
• Ensure that all cash account exceptions assigned to Trade Support are investigated and resolved in a timely manner
• Provide support to the wider Operations team by liaising with Front Office to undertake corrective action required to resolve exceptions/ breaks captured on downstream operational control points
• Record completion of all intra- and end-of days checks via on-line check lists
• Perform payments sanctions screening which involves providing timely review of SWIFT messages and SWIFT payment instructions while ensuring prompt release of false hits or escalation of true hits to the Financial Crime team
• Contribute to the review and feasibility assessment of proposed new products and support manager by ensuring that all necessary processes and procedures are implemented within Trade Support to facilitate trading of these
• Ensure that Regulatory obligations are met such as Transaction Reporting, Audit requests and exception management
• Be responsible for the preparation and maintenance of working instructions (procedures)
• Perform analysis and investigation in respect of historic issues / exceptions as required
• Provide support to “Change the Bank” teams by participating in the development of business requirements, test scenarios and execution of (user) testing schedules
• Ensure that the appropriate controls exist in support of the change environment
• Ensure that Risk items are escalated appropriately to ensure that the business operates in a controlled manner and that all key risk issues are raised to management and key business stakeholders
• Ensure strong partnership with peers across the Global Trade Support Team
• Constantly review the control framework to ensure that changes to the business operating model and the products traded are appropriately risk-managed
• Take responsibility and proactively manage personal development and training
• Ensure that our clients receive the most efficient and productive service in our duties relating to the distribution of periodic position valuation statements and client trade allocations

Preferred Qualifications and Experience

• Education to college degree level highly desirable
• 1 to 2 years of experience in a banking operations environment
• Some knowledge and understanding of FIC or Commodity products and the risks associated with the trading and settlement of these products
• Proven interpersonal and relationship-building skills
• Proven experience of having thrived in a fast-moving, high-pressured environment
• Strong IT skills

Personal attributes:

• Being Proactive – strives to stay ahead by anticipating rather than reacting; ensures that actions are always carefully considered.
• Problem Solving – identifies, clarifies/defines and works through challenges towards a defined outcome.
• Personal Accountability – takes full responsibility for their actions and impact on others; acts with integrity in all matters; self-driven with a desire to continually grow and improve performance.
• Valuing Diversity – respects others, role models the bank’s values and promotes diversity and inclusion.

The role would suit someone who is:

• Analytical
• Flexible
• Self-starting
• Results orientated
• A great team player

Job Type: Full-time

Pay: $63,000.00 - $70,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Flexible schedule
• Health insurance
• Paid time off
• Tuition reimbursement
• Vision insurance

Physical setting:

• Office

Schedule:

• 8 hour shift

Supplemental pay types:

• Bonus pay

Ability to commute/relocate:

• New York, NY 10022: Reliably commute or planning to relocate before starting work (Required)

Work Location: Hybrid remote in New York, NY 10022

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