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Settlement Associate (contract)

Company: Sumitomo Mitsui Banking Corporation (SMBC)
Location: Jersey City
Posted on: June 9, 2024

Job Description:

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.The anticipated salary range for this role is between $76,000.00and $120,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.Role DescriptionThe Settlement Associate is responsible for clearance and settlement of various products in the US and International markets. Working knowledge of Equity / Fixed Income products and settlement market rules. Associate will work closely with Middle Office and other groups across Operations. Ensures that all client transaction issues are escalated and thoroughly investigated to resolve in a timely manner.This is a contract roleRole Objectives

  • Daily clearance and settlement of Equity and Fixed Income securities.
  • Ensure timely settlement of trades.
  • Liaise with Middle Office to remediate any settlement issues.
  • Liaise with counterparties regarding unmatched trade instructions/details and escalate issues in a timely manner.
  • Support the business to process requests timely and efficiently.
  • Proactively mitigate risk by reviewing and improving procedures and processes.
  • Generate and save various settlements reports that must be distributed to various teams.
  • Understands and follows all Regulatory and Compliance guidelines.Qualifications and Skills
    • Minimum 3 years industry experience.
    • Proficient with Microsoft Office applications, along with ability to quickly learn new systems and applications.
    • Working knowledge of Broadridge IMPACT, GLOSS, BNY, DTCC Settlement Web.
    • Experience with NetX360 is a plus.
    • Industry knowledge in US and International settlement markets.
    • Ability to identify problems as they arise and prioritize/escalate.
    • Detailed, thorough, and efficient with good analytical skills.
    • Ability to multitask and work in a team environment.Additional RequirementsSMBC's employees participate in a hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process.
      We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status or any other characteristic protected by law. SMBC provides reasonable accommodations for employees and applicants with disabilities consistent with applicable law. If you need a reasonable accommodation during the application process, please let us know at

Keywords: Sumitomo Mitsui Banking Corporation (SMBC), Jersey City , Settlement Associate (contract), Accounting, Auditing , Jersey City, New Jersey

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