Operations Manager (USD Clearing, LOC, Loan Adm, Settlements)
The Bachrach Group - New York, NY

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Operations Manager

Job Purpose:
Manage the dollar clearing business of the New York Branch, ensure timely and accurate processing of deals executed by the Front Office. Person will also oversee the Loan Admin, LOC, and Trade Settlement functions of the branch.

Key Responsibilities:
Contribute to the development of initial plans for the dollar clearing services to be provided by the New York Branch. This includes working with the relevant departments to develop and implement the necessary infrastructure, protocols and operational procedures in accordance with Bank policies.
Provide back-office support for dollar clearing transactions in accordance with standard procedures, ensuring timely settlement and service levels.
Review all transactions to ensure they are promptly, independently and accurately confirmed and entered into the system.
Conduct daily trade balancing and reconciliations of USD transactions, reporting on daily volumes and quality control checks to ensure accounts are balanced and error free.
Manage the daily dollar clearing workflow to ensure accurate and efficient processing and timely resolution of all customer, bank and interdepartmental problems that arise related to dollar clearing services. Proactively evaluate the quality and efficiency of work-flows and recommend changes to enhance service levels where necessary.
Work with front office team to ensure new USD products introduced are supported by appropriate operational procedures and controls.
Work with Compliance and Risk Management Officers to develop appropriate lines of business controls.
Prepare required regulatory reports for submission to the New York State Banking Department and the Federal Reserve Bank of New York.
Monitor transactions and highlight any suspicious activities to ensure compliance with applicable AML regulations.
Undertake any other relative jobs assigned by the Department Head from time to time.

Knowledge & Experience Requirements:
Bachelor's degree or equivalent; advanced degree desirable.
Typically requires 5+ years of experience in a similar role.
Up-to-date knowledge of applicable rules and regulations governing USD clearing and demonstrates utmost level of professionalism and adherence to ethical standards.
Strong working knowledge of USD clearing operations along with understanding of settlement systems (e.g. SWIFT, CHIPS, Fedwire).
Proven management experience
Successful completion of annual Branch BSA/AML training program.
Good organizational, analytical and communication skills.
Keen sense of judgment with business orientation.
Good decision making and critical thinking ability.

If qualified and interested please email resume directly to accounting@bachrachgroup.com

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