Senior Manager, Trade Operations

The Senior Manager – Trade Operations is responsible for managing all aspects of domestic and international settlement, ensuring efficient and accurate execution while maintaining compliance with regulatory requirements.

The Senior Manager - Trade Operations is also responsible for the placement and management of fund orders and the associated settlement.

Additionally, this role will also be responsible for all operational processes pre and post execution for clients of Winterflood Business Services (WBS), ensuring timely and accurate placement, confirmation, and settlement of trades, as well as cash management processes on the platform within a designated control framework and within WBS’ risk appetite.

Key Priorities

Settlements

• Manage client & market settlement and custody for both domestic and international trading.
• Monitor and manage the firms risk exposure to incomplete trades that are past intended settlement and monitoring of settlement discipline inclusive of CSDR penalties & buy in risk.
• Manage relationships with clients and market counterparts to ensure timely settlement and adherence to market developments & regulatory change.
• Ensure all client contract notes are produced in accordance with the regulatory timeframe
• Implement, monitor, and enhance controls to mitigate risks related to settlement activities, including settlement discipline, interest claims and buy in management
• Manage relationships with counterparties, banks, and other financial institutions to ensure smooth settlement operations
• Manage, lead, and develop the Settlements team ensuring effective performance, compliance, and ongoing professional development. Ensure staff are up to date with the latest industry knowledge, tools, and regulatory changes
• Identify, assess, manage, and report risks related to Settlements, implementing a comprehensive risk management framework.
• Implement process improvements, optimisations, and changes to enhance operational efficiency and compliance with the regulatory framework.
• Generate accurate and timely management information and reports to aid decision-making, including Key Risk Indicators and Key Performance Indicators. Develop mechanisms for data collection, analysis, and reporting to provide insightful management information.
• Maintain transparency and clear communication with senior management, providing insightful reports, updates and escalation as appropriate
• Focus on continuous improvement, identifying and acting upon opportunities to enhance compliance, efficiency, and client service in all Settlement related activities.
• Manage incidents ensuring appropriate escalation where required, complete root cause analysis and implement learning across people, process and as appropriate
• Ensure the Settlements policies, procedures and controls are maintained with any change communicated effectively
• Ensure all daily & periodic tasks are completed, including the investigation and resolution of reconciliation discrepancies.

Cash Management

• Manage, lead, and develop the Cash Management teams ensuring effective performance, compliance, and ongoing professional development. Ensure staff are up to date with the latest industry knowledge, tools, and regulatory changes.
• Ensure all money received is processed in a timely fashion, ensuring prompt allocation to clients and customers, maintaining adherence to the CASS rules.
• Reviewing and authorising payments to clients and market counterparties.
• Ensure Client Money Diversification is within tolerance.
• Ensure all relevant funding for CSD’s and Custodians is in place minimising overdrawn balances and associated fees.
• Ensure all daily & periodic tasks are completed, including the investigation and resolution of reconciliation discrepancies.

Transfers
 

• Maintain accurate records of all transfers, ensuring that they are properly documented and reported.
• Identifying and addressing any issues or challenges that arise during the transfer process, such as delays, communication breakdowns, or other obstacles.
• Managing the process of transferring client’s assets and cash between Winterflood and another service provider. Including managing the transfer of individual customers, as well as larger groups of customers or full migrations of a client and ensuring that the transfer process is as smooth and seamless as possible
• Ensure all daily & periodic tasks are completed, including the investigation and resolution of reconciliation discrepancies.
• Building and maintaining relationships with clients, custodians, transfer agents, vendors, and other key stakeholders. This may involve engaging with clients to understand their needs, addressing any issues that arise, and ensuring that all parties are satisfied with the service provided
• Identifying opportunities to improve processes and procedures within asset servicing. This may involve streamlining workflows, automating tasks, and leveraging technology to improve efficiency and reduce costs.
• Provide regular reports to senior management on the performance of the asset servicing function. This may involve analysing data, identifying trends, and making recommendations for improvement.

People

• Champion and promote the Company’s Diversity, Equality and Inclusion (DEI) strategy, embedding DEI in all aspects of people practices including hiring, development and leadership across Trade Operations.
• Promote a culture of continuous learning, collaboration, and accountability. Establish clear performance goals and provide ongoing feedback to drive team success, ensuring all skill-gaps for direct reports are acted upon and areas for development are supported.
• Represent the Company and communicate effectively with stakeholders, clients, employees.
• Ensure adequate time is given to conduct risk considerations by the department, and any risks identified are mitigated appropriately.
• Lead by example in promoting a people-first approach, setting the standard for people management by consistently prioritising key goals such as objective setting, regular one-to-one meetings, performance appraisals and team development, and taking remedial action where appropriate.

Required Skills & Experience 

• Experience and working knowledge of Settlements both domestic and international, the trading cycle, as well as the ecosystem WBS operates in within.
• Understanding of the Fund, International and UK Market specifically the Custody Operations 
• Understanding of the processing and settlement of equities, fixed income, closed and open-ended funds, structured products including pricing calculations and market charges.
• Previous experience of payment processing via online banking systems
• Experience in CREST, Clearstream & custodian platforms, bank processing and AutoRek
• Mandatory Qualification: CISI Certificate in Investment Operations or equivalent
• Clear and structured communicator, able to quickly gain the confidence of governance committees.
• Track record of delivery and setting high performance standards; clear focus and commitment to driving great customer outcomes, profitability, and shareholder value.
• Proven ability to maintain a strong risk management and control framework throughout a significant market making or related department, inclusive of the ability to identify, assess, mitigate, and monitor risks and the offsetting controls.
• Working knowledge of the regulatory frameworks and requirements that apply to the business, including the CASS rules when managing client’s money or assets.

Benefits 

• Competitive salary inclusive of discretionary annual bonus & annual pay review
• Work Abroad Policy for up to 15 days per year
• 25 days holiday plus bank holidays and additional well-being day
• Option to purchase an additional 5 days holiday per year
• Flexible working options available, including hybrid working (typically 3 days in the office and 2 days from home per week) 
• Pension scheme up to 10% employer contribution
• Sharesave scheme
• Income Protection & Life insurance (4 x salary core level of cover)
• Private health care via BUPA
• Employee Assistance Programme
• Discounted Gym Membership
• Variety of travel to work schemes

Company benefits are provided on completion of either six months service, or a successful probation period whichever is sooner.

Entitlement outlined above is in respect of full-time entitlement, and will be provided to part-time workers on a prorate basis in accordance with the relevant scheme rules.

All benefits are subject to rules of the scheme and associated provider. The Company in its sole and absolute discretion reserves the right to discontinue, vary or amend any of the aforementioned benefits.

At Close Brothers we look to recruit individuals from all different backgrounds and encourage you to apply even if you don’t tick every box. We celebrate diversity, promote inclusivity and are open to discuss flexible work options to help you balance your work and home life.

We appreciate that from time to time, recruitment agencies will have speculative CVs that they may wish to submit to our Talent Acquisition team in relation to a specific role.

To avoid any ambiguity around fees, please note that speculative CVs received by Close Brothers, that have not been authorised in advance, by us, will be ineligible for an agency fee. Thank you.