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Settlement Officer
Full time at Standard Chartered Bank in Qatar

Settlement Officer Full time at Standard Chartered Bank in Qatar

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Job details

Settlement Officer

Standard Chartered Bank - Qatar - SCB (Qatar)

Job Description
To carry out Settlements and General Banking activities in line with laid down procedures and all regulatory requirements.
To achieve established targeted standards of productivity and client services in Settlement area.
To control the day-to-day operational functions of Trade Settlement and obtain the following objectives:
oAdhere to the established controls and procedures.
oProvide quality client’s service, response to client queries promptly.
oEnsure accuracy and completeness of settlement.
oBe cost-effective.
oOptimize utilization of resources.

Key Roles & Responsibilities

To process client instructions promptly on receipt.
To continuously improve STP rate across the client and maintained an agreed standard percentage during the year.
Pre-matching of Trade transactions with Brokers / Exchange.
To ensure daily reconciliation before market deadlines (especially related those related to potential buy-in) to smooth settlement of trade obligations.
To liaise with the client in order to avoid any potential buy-ins in the clients account. Ensure pro-active management of client trades to reduce the chances of failure of client trades.
To send trade accurate and timely match / mis-match confirmation. Closely work with client to close any discrepancy in the trade instruction.
To ensure that negative affirmation are sent to exchange/broker within the stipulated deadlines
Timely reporting to internal and external stakeholders including clients relating to Settlement of trade transactions.
Settlement of trade transaction with broker / exchange.
To supervise and control the activity of General Banking and Billing functions and ensure that the standards and benchmarks set for the Sections are being adhered to and to perform the necessary authorizations / checks on the processing.
Follow up with the Internal Sections/Divisions of the Bank for identifying the receipt of the foreign currency funds, credits to the respective Client(s) FC accounts, execution of FX deals and subsequent credit(s) to the Client’s cash account(s). Ensures that appropriate outward FX is monitored and the remittances are effected as per client instructions/guidelines. Ensure that payment is effected in accordance with FEMA provisions
Ensure that support functions with regard to payments to counterparties (clearing corporations/brokers) is complete in all respects, in the cash and securities accounting systems.
Assist section head to ensure that the payments pertaining to Debt deals / IPOs / Brokerage etc are made on time.
Ensure correctness of entries with respect to purchase funding, sales proceeds and tax liabilities thereof to the Client(s) cash accounts.
Ensure correctness of entries with respect to clearinghouse accounts and corresponding suspense accounts.
Ensure that the OTTs are released to the payments section on time.
To ensure accurate and prompt reporting to both the regulatory bodies.
To ensure that all Client requirement/communication/ queries are responded within 24 hours of receipt. Holding response to be sent in case the final response requires further investigation
To ensure that procedures laid down in the Departmental Operating Instructions are adequately followed. Ensure that the relevant Key Control Standards are adhered to. Ensure that the regulatory requirements and deadlines are adhered to.
To continually review procedures & service against existing standards; and recommend/implement action for improvement.
Ensure real-time escalation of any possible operational incidents / ops loss / complaints to country HSS.
•To perform any job or task resulting from exigencies as well as those that may be assigned by Head of Securities Services.

Qualifications & Skills

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