TIAA Trade Settlement Analyst in JACKSONVILLE, Florida
As a part of TIAA’s Retail & Institutional Financial Services business, TIAA Bank, a division of TIAA, FSB, provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country.
Responsible for the processing and validation of trading and settlement related activities for Secondary Marketing, Treasury and Portfolio Management.
Perform daily Margin maintenance via the FICC’s Clearing Fund Management System (CFM). Generate wire requests for margin requirements; process withdrawal requests when excess margin balance exceeds minimum requirement. Forward requests and supporting documentation for activities to VP CMAO for approval. Process approved actions.
Perform daily written and verbal confirmation of all trades executed by Secondary Marketing via Quantum (3rd party vendor Trading system) and the Fixed Income Clearing Corp’s (FICC) Real Time Trade Management System (RTTM).
Perform daily validation of previous day activity for Secondary Marketing transactions using Quantum, FICC reports and QRM (Secondary Marketing’s 3rd party vendor hedging system) to make sure that all 3 systems are balanced and in sync. Identify and resolve any transaction discrepancies and communicate or process any needed corrections. Prepare morning validation package and provide to VP CMAO for review and signoff.
Perform the reconciliation of the FICC Settlement Balance Order report (Netting report) for each MBS security class. Prepare reports documenting the FICC adjustments to MBS trades and the detail of the MBS trades allocated to the MBS securities. Forward documentation to Secondary Marketing for updating in QRM. Process and record journal entries for the FICC Netting report cash flows including Netting differences and FICC monthly account charges.
Reconcile activity in the Secondary Marketing hedge pairoff general ledger account to supporting documentation produced from the FICC Netting process, the Quantum Pairoff report and the Miscellaneous Whole Loan pairoff report. Prepare the monthly general ledger account reconciliation and the statistical account activity journal entry for pairoffs and provide to VP CMAO for review and posting.
Process Investment Security transactions from confirmation through security delivery and settlement using Quantum, the Federal HomeLoan Banking system and the DTC. Reconcile any settlement factor differences as they arise and process any Settlement Balance Order adjustments through FHLB or the FED as required.
Process REPO Liability transactions for Treasury from security delivery through security return at maturity using the Federal HomeLoan Banking system and the DTC. Monitor any additional collateral moved related to these transactions and ensure return of same at maturity of original transaction. Move transactions to a status of settled in Quantum when there is verification of the return of all security that collateralized the transaction.
Process MBS Option transactions from execution through confirmation, premium payment processing, general ledger recording and exercise, expiration or pairoff. Verify Quantum reports reflect MBS Option transactions correctly.
Maintain current list of active FICC counterparties and update for additions resulting from the Netting process. Monitor the FICC website for important notices detailing member updates, system changes and counterparty additions and retirements. Circulate notices to SVP/Treasurer and others as directed by VP CMAO.
Compile the supporting trading and hedging transaction documents for the CMAO cash account, process cashflow transactions in Quantum for collateral movement for FX, Swap and FICC processed transactions. Reconcile the daily cash transactions to the Business online Banking system (BOB).
Perform the daily checkout with the DTC for TIAA Bank FICC transactions and St. Louis DTC transactions. Notify St Louis of any charges and verify they are correct before affirmation. Work with the DTC to resolve any disputed charges that are applied to TIAA Bank or St Louis’s accounts.
Provide backup support for other related processes performed within in the department.
Knowledge, skills, and ability requirements
Knowledge of MBS OTC transactions and Investment security transactions as well as settlement of both with the 3rd party to the transaction (counterparty)
Familiarity with Secondary Marketing trading group operation and deadlines
Strong analytical/problem-solving skills with the ability to focus on details
Strong organizational skills with experience in a multitasked environment
Prior Accounting and General Ledger experience including reconciliation preparation and journal entry creation and input
Strong PC skills including Access database and Excel spreadsheet creation and processing
Strong written and oral communication skills utilizing Outlook and Word
Training and experience
Five years experience in Mortgage Banking and Banking or related financial industry
Bachelor’s degree in a business related field or equivalent relevant industry experience
Familiarity with Oracle general ledger software and journal entry processing is preferred
Familiarity with DTC and/or FHLB security processing systems is preferred.
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We are an Equal Opportunity/Affirmative Action Employer. We will consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other legally protected status.
- Requisition ID: 1717836
Field: Capital Market & Portfolio Management
Company: TIAA Bank
Post Date: Apr 10, 2019
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