Job Description
Team Profile:
The Securities Lending Operational department based in Bengaluru is responsible for supporting the trading activities of the business. The department comprises of Lender Services and Middle Office functions.
Act as a key support for Client's Equities Securities Lending (Stock Loan) Sales & Trading Desk performing trade maintenance and daily book balancing to facilitate the timely settlement of securities borrowed and loaned as well as the accuracy of the Firm’s books and records. This involves interacting daily with the International and Domestic Securities Lending trading desks as well as liaising with internal clients such as the Global Lender Services team, Position Services and Global Settlement teams.
The team have daily interaction with the trading desk and are required to liaise with operational colleagues across a range of disciplines to ensure the timely and accurate execution and collateralisation of trades, providing an opportunity to develop a strong network across firm.
Securities Lending describes the practice whereby securities are transferred temporarily from one party (lender) to another (borrower) for a fee. The borrower is required to return them either on demand or at the end of any agreement. The borrower will provide the lender with collateral for the period of the loan. The motivations to participate in Stock Lending include:
- To cover strategically traded short-positions
- To cover deliveries which arise as a consequence of failed settlement
Role Responsibilities:
- Serve as the front-line operations support for the Business Unit for securities lending and secured financing products.
- Work closely with other internal and external stakeholders including settlement and corporate actions teams throughout the lifecycle of a trade.
- Understand the life cycle of Stock Loan trade and aware of about Returns and Recall process.
- Work with external lenders to book requested recalls on priority.
- Maintain a blotter of Recalls processed for the team.
- Knowledge of Security Lending (Stock Loan) and Secured Funding would be preferred.
- Serve as the primary point of contact to Borrowers and Lenders (clients) of securities. This includes working with other areas who also have contact with the clients and acting as a point of escalation for any issues
- Ensure the firm is not exposed to Lenders and that any exposures or collaterals are understood and agreed with Credit
- Perform trade lifecycle amendments and reconcile positions to identify and reduce risk.
- Pre-match trades and perform failing trade management
- Perform daily cash and stock reconciliation ensuring client-s books and records match external positions
- Knowledge about SFTR Regulation would be added advantage
- Performing timely deal amendments across key coverage markets
- Settlement support for Securities lending transactions across all EMEA markets
- Updating and maintenance of client profiles
- Work with the vendor to ensure comprehensive controls are in place and complete procedure reviews/enhance the control environment
- Involvement in BCP transference testing and ensuring knowledge dilution in Glasgow is minimised
- Working with key stakeholders to identify and create efficiencies in daily processes.
- Work with IT to develop, test and rollout new client technology solutions
- Handling various administrative duties
- Involvement in current market and regulatory initiatives in conjunction with stakeholders
- Provide operations support for IT developments
- Participate in NPA discussions for stock loan
Skills Required:
- Bachelor’s degree
- Attention to detail
- Excellent written and verbal communication skills
- Knowledge of Microsoft Office with a focus on Excel
- A good aptitude for working in a demanding, fast paced environment
- An ability to handle high volume workloads and prioritisation skills
- A flair for learning new functions/systems quickly
- Flexibility with regards to hours worked
- A good approach to change management on account of the team-s continual growth and development
- Strong communication skills as you will be expected to develop relationships with clients
- Fast learner
- An understanding of escalation
- An ability to handle working in a pressurized environment
- A desire to question existing procedures and continually seek to improve processes
- Ability to work unsupervised
- A desire to go -above and beyond- daily responsibilities - seek to problem solve
- Strong sense of accountability
- Risk management skills
- Leadership skills
- Organizational skills
- Ability to work across silos where required
1.Years of exp- 3-5 years
2.Contract duration- 6 months to start with (can confirm on the extension later)
3.Location- Bengaluru
4.Shit timing- 6 AM IST till 3:30 PM IST
5.Acceptable Notice Period - 30 days as we have current resource who will serve the notice period
6.Hybrid/WFO - Hybrid
7.Must have skillset
- Prior experience of working in Equity Operations with knowledge of Equity Trade Life Cycle, Equity Settlements would help
- Stock Loan / Securities Lending Experience is a bonus
- Experience of interacting with external counterparties for breaks or issues resolution
- Perform trade lifecycle amendments and reconcile positions to identify and reduce risk
- Pre-match trades and perform failing trade management
8.Good to have skillset: Stock Lending and Borrowing Experience will be an added advantage
