TIAA Bank Trade Settlement Analyst in JACKSONVILLE, Florida
Trade Settlement Analyst
Location: United States, Florida, Jacksonville
Field: Capital Market & Portfolio Management
Post Date: Mar 11, 2019
Responsible for the processing and validation of trading and settlement related activities for Secondary Marketing, Treasury and Portfolio Management.
Performdaily Margin maintenance via the FICC’s Clearing Fund Management System(CFM). Generate wire requests for marginrequirements; process withdrawal requests when excess margin balance exceedsminimum requirement. Forward requestsand supporting documentation for activities to VP CMAO for approval. Process approved actions.
Performdaily written and verbal confirmation of all trades executed by SecondaryMarketing via Quantum (3rd party vendor Trading system) and the Fixed IncomeClearing Corp’s (FICC) Real Time Trade Management System (RTTM).
Performdaily validation of previous day activity for Secondary Marketing transactionsusing Quantum, FICC reports and QRM (Secondary Marketing’s 3rd party vendorhedging system) to make sure that all 3 systems are balanced and in sync. Identify and resolve any transactiondiscrepancies and communicate or process any needed corrections. Prepare morning validation package and provideto VP CMAO for review and signoff.
Performthe reconciliation of the FICC Settlement Balance Order report (Netting report)for each MBS security class. Preparereports documenting the FICC adjustments to MBS trades and the detail of theMBS trades allocated to the MBS securities.Forward documentation to Secondary Marketing for updating in QRM. Process and record journal entries for theFICC Netting report cash flows including Netting differences and FICC monthlyaccount charges.
Reconcileactivity in the Secondary Marketing hedge pairoff general ledger account tosupporting documentation produced from the FICC Netting process, the QuantumPairoff report and the Miscellaneous Whole Loan pairoff report. Prepare the monthly general ledger accountreconciliation and the statistical account activity journal entry for pairoffsand provide to VP CMAO for review and posting.
ProcessInvestment Security transactions from confirmation through security deliveryand settlement using Quantum, the Federal HomeLoan Banking system and theDTC. Reconcile any settlement factordifferences as they arise and process any Settlement Balance Order adjustmentsthrough FHLB or the FED as required.
ProcessREPO Liability transactions for Treasury from security delivery throughsecurity return at maturity using the Federal HomeLoan Banking system and theDTC. Monitor any additional collateralmoved related to these transactions and ensure return of same at maturity oforiginal transaction. Move transactionsto a status of settled in Quantum when there is verification of the return ofall security that collateralized the transaction.
Process MBS Option transactions from executionthrough confirmation, premium payment processing, general ledger recording andexercise, expiration or pairoff. VerifyQuantum reports reflect MBS Option transactions correctly.
Maintaincurrent list of active FICC counterparties and update for additions resultingfrom the Netting process. Monitor theFICC website for important notices detailing member updates, system changes andcounterparty additions and retirements. Circulatenotices to SVP/Treasurer and others as directed by VP CMAO.
Compilethe supporting trading and hedging transaction documents for the CMAO cashaccount, process cashflow transactions in Quantum for collateral movement forFX, Swap and FICC processed transactions.Reconcile the daily cash transactions to the Business online Bankingsystem (BOB).
Performthe daily checkout with the DTC for TIAA Bank FICC transactions and St. LouisDTC transactions. Notify St Louis of anycharges and verify they are correct before affirmation. Work with the DTC to resolve any disputedcharges that are applied to TIAA Bank or St Louis’s accounts.
Providebackup support for other related processes performed within in the department.
Knowledge, skills, and ability requirements
Knowledgeof MBS OTC transactions and Investment security transactions as well assettlement of both with the 3rd party to the transaction (counterparty)
Familiaritywith Secondary Marketing trading group operation and deadlines
Stronganalytical/problem-solving skills with the ability to focus on details
Strongorganizational skills with experience in a multitasked environment
PriorAccounting and General Ledger experience including reconciliation preparationand journal entry creation and input
StrongPC skills including Access database and Excel spreadsheet creation andprocessing
Strongwritten and oral communication skills utilizing Outlook and Word
Training and experience
Fiveyears experience in Mortgage Banking and Banking or related financial industry
Bachelor’sdegree in a business related field or equivalent relevant industry experience
Familiaritywith Oracle general ledger software and journal entry processing is preferred
Familiaritywith DTC and/or FHLB security processing systems is preferred.
Pre-Employment Screening May Include:
Criminal Background Check
Past Employment Verification
Social Security Verification
Note: The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all duties, responsibilities, and skills required of personnel so classified, and they may change at any time.
TIAA, FSB is an equal opportunity employer. No associate or applicant for employment will be discriminated against on the basis of race, creed, ethnicity, color, age, religion, sex, sex stereotype, pregnancy (including childbirth, breastfeeding or related medical conditions where applicable), sexual orientation, gender, gender identity, gender expression, transgender, marital status, national origin, ancestry, physical or mental disability, requesting a reasonable accommodation based on mental or physical disability, medical condition (as defined by applicable law), genetic history and information, citizenship status, military or veteran status, or any other status protected by federal, state, or local law or ordinance or regulation.
TIAA, FSB is not seeking assistance or accepting unsolicited resumes from search firms for employment or contractor opportunities. Regardless of past practice, all resumes submitted by search firms to any employee at TIAA, FSB via e-mail, the Internet, or directly to hiring managers at TIAA, FSB in any form without valid written search agreements executed by the VP, Talent Acquisition for that specific position will be deemed the sole property of TIAA, FSB, and no fee will be paid in the event the candidate is hired by TIAA, FSB as a result of the referral or through other means.
TIAA, FSB will not discharge or in any other manner discriminate against associates or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another associate or applicant. However, associates who have access to the compensation information of other associates or applicants as a part of their essential job functions cannot disclose the pay of other associates or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by TIAA, FSB, or (c) consistent with TIAA, FSB's legal duty to furnish information.
- Requisition ID: 1717836