Clearing Services Support
Newedge - Chicago, IL

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JOB TITLE: Clearing Services Support

CORPORATE TITLE: B6- Analyst

EFFECTIVE DATE: March 2013

TASKS AND RESPONSIBILITIES:

Within the Clearing Services Organization, this person will be a part of a rotation responsible for post-trade processing on the following Clearing Houses: MGEX (Minneapolis Grain Exchange), CME Group (Chicago Mercantile Exchange), ICE US (Intercontinental Exchange), OCC (Options Clearing Corporation), and NYPC (New York Portfolio Clearing).
  • Reconcile clearing house messages to internal bookkeeping software via proprietary systems
  • Post-execution allocation of all listed derivative transactions electronically executed as well as Pit executed where applicable
  • Pursue Brokerage Desks / Trading Assistants / Client Trade Support groups throughout the day to ensure bunched order allocations are received prior to the clearing house cut-off times
  • Monitor and accept give-in trades from other firms for Newedge cleared accounts
  • Maintain accurate static data between clearing systems (e.g. ClearVision, NewClear, and CAA) to allow for straight-through-processing
  • Proactively keep track of physical delivery products at expiration; liaise with Deliveries teams to ensure positions are closed at the exchange level
  • Check out with internal as well as external counterparties to ensure accuracy of allocations
  • Enter KCBT open-outcry trades directly into CME FEC
  • Enter execution billing records accordingly for various Newedge desks
  • Work with various counterparties to ensure their queries are resolved quickly
  • Escalate issues appropriately
  • Additional tasks as per delegation from Clearing Services Management

SUPERVISION DUTIES:

n/a

SKILLS AND EXPERIENCE NEEDED :
  • Bachelor’s Degree in Business (Finance, Accounting, Economics, Marketing or related field) or equivalent work experience required
  • Minimum 1 year experience in Derivatives clearing department or qualifications that demonstrate the aptitude for a clearing services role
  • Knowledge of Microsoft Office Suite, with a heavy emphasis on Excel (pivot tables, functions, VB)
  • Excellent verbal, communication, and organizational skills
  • A flexible schedule - will be required to work on US Holidays occasionally
  • Must be a strong team player with the ability to work efficiently and effectively in a high stress environment
  • Understanding of listed derivatives clearing work-flow from trade execution to settlement
  • Middle Office / Back-office experience or skills and qualifications that demonstrate an aptitude for the role
  • Ability to challenge current set-ups and propose necessary upgrades
  • Client Service focus

Preferred but not required qualities:
  • Sungard GMI
  • Sungard ClearVision
  • Exchange Front End Clearing Systems (CME Front End Clearing, OCC Encore, ICE PTMS and ACT, NYPC TRS, KCBT Mocha Soft)

REQUIRED REGISTRATIONS:

n/a

POSITION WITHIN HIERARCHY:

Direct reporting to Clearing Services Manager

Working within a team of 20+ people with global team interaction (EU, APAC)- Shift rotation is in place to allow coverage from 07:30 to 19:00 CST

LEVEL OF AUTONOMY:

Must work independently, but escalates issues to management.

Newedge - 17 months ago - save job - block
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About this company
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The corporate and investment banking arm of French superbank  Crédit Agricole, Crédit Agricole Corporate and Investment Bank (or Crédit...