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Assistant Vice President FX Settlements, IB Operations

Chennai, TN
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  • Banking & Finance
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Job Details

DFX trade services is responsible for ensuring all asset classes of OTC Derivatives, namely Interest Rate, Credit, Equity and Foreign Exchange are controlled and settled in an efficient and cost effective manner. Departmental functions include payment and funding procedures, rate resetting, nostro and brokerage reconciliation, and strategic product support.Overall purpose of role Responsible for managing the Settlements of Forex, Money Market and NDF Products dealt in the name of Barclays Bank PLC Global branchOverall management of FICC FX Settlements team and task deliverables and lead on various projectsProviding support primarily to Front office, Sales and Trading for FX/MM/NDF products and also liaise with other infrastructure group for day to day activitiesUndertake different projects across operations and ensure smooth implementationKey Accountabilities and Skills required Have a strong understanding of regulatory environment and be aware of recent regulatory changes applicable for OTC marketStrong understanding of various RBI guidelines, FEDAI circulars, FEMA notifications from time to time and execute relevant trade regulatory reporting Provide independent oversight over the status of the control environment for the unit responsible for ensuring all deadlines are met in a timely manner and issues are communicated to senior management immediately Act as subject matter expert and go to point of contact for the desk and escalation on settlement issuesFacilitate resolution of potential failed settlementsProviding good customer service and communicating with clients, trade support or front office and respond promptly to queriesActively set and support a culture of continual improvement and target setting for the team.Set stretching objectives for self and team and deliver against those objectivesLead, motivate, and develop teams to create a high performance culture and enhance the knowledge base, skills, talent and capabilityDemonstrate effective use of performance development, share best practice, identify successors and develop a culture of coaching and developmentCommunicate progress against plans, achievements and challenges. Encourage feedback in addition to ensuring that the teams have the correct training and tools to undertake their duties to the highest standards, delivering a world class service to Barclays clientsPerform appraisals for team lead layer, providing guidance and career supportBe able to confidently speak to the challenges faced by the team during high level break report meetings with senior stakeholders, taking ownership and responsibility for breaks held by the groupContinually analyze business information to identify process and system improvements for increasing business efficiency and effectiveness and play an active role in overseeing their successful implementationDocument process flows and identify key process changes required to improve efficiencies. Evaluate cost versus benefit. Implement action plans and conduct working group sessions for projects. Identify technology needs that would streamline the end-to-end process Risk and Control Objective Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Barclays Operational Risk Framework and internal Barclays Policies and Standards.Requirements for Assistant Vice President FX Settlements, IB Operations Experience managing a team of minimum 3 staff in the FX /MM/NDF Settlement or Investigation process or equivalentStrong ability to communicateand build strong relationships with Clients, Infrastructure and Front Office stakeholderExceptional interpersonal and excellent verbal and written communication skills to confidently and independently manage a team with effective time and people management ensuring all deliverables are met and/or exceededAbility to identify risk in any process and ensuring that effective controls are designedStrong analytical skills and detail orientatedUnderstand the concept of FX settlements mode (i.e. CLS, gross and net-settlements)Detail-oriented with the ability to multi-task, prioritize work assignments, communicate effectively with internal staff and clientsStrong Excel (VBA preferred) and MS Office skills
Additional Degree: BA (Arts) | B.Com. (Commerce) | B.Pharm. (Pharmacy) | B.Plan. (Planning) | B.Sc. (Science) | BBA/ BBM/ BBS | BCA (Computer Application) | Diploma-Other Diploma | B.Ed. (Education) | BHM (Hotel Management)

Experience: 5-8


Administration | Facilities management | Office Management & Coordination
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