Officer - Operations (Clearing and Settlement)

Job Description

Operations:
Officer - Operations (Clearing and Settlement)

Job Summary

The Operations Officer (Clearing and Settlement) is responsible for processing clearing transactions, managing treasury settlements, and overseeing deposit account operations and remittance while ensuring accuracy, timeliness, and full compliance with regulatory and internal policies, acting as a key liaison between back-office functions and financial institutions.

Mandate

• Efficiently perform the clearing and treasury settlement process, ensuring compliance with regulations and internal procedures
• Efficiently perform account maintenance and process transactions for deposit accounts (both current and term deposit)
• Facilitate smooth processing and documentation of clearing transactions and treasury settlements while maintaining high levels of accuracy. Maintain strong relationships with clearing banks, counterparties, Head Office, and internal stakeholders to ensure timely and secure settlements
• Provide advisory support and assistance to the business department and customers on account related enquiries
• Participate in system and procedures testing for new products, system testing or enhancements related to clearing and treasury settlement

Key Tasks

• Responsible for treasury settlement, confirmation processing and investigation, including foreign exchange deals, money market deals, bank deposit note and BOND,identify discrepancies and take appropriate actions to resolve any issues
• Liaise with treasury team, clearing banks, and counterparties to resolve any settlement-related inquiries or issues
• Execute clearing activities, including inward and outward cheque clearing and EFT remittance
• Provide all required reports to FINTRAC, Payment Canada and Treasury department for monthly reconciliation
• Implement operational procedures and processes related to account maintenance, such as customer records, account open, deposits and withdrawals, remittance, AML checking, hold funds, stop cheque, account statements, account closure, internet banking etc.
• Participate in system and procedure testing for new products or enhancements related to clearing and trade settlement
• Perform any other duties or responsibilities assigned by Head of Operations and his supervisor.

Job Qualifications

Education & Training

Bachelor's degree or College diploma

Experience

Must have at least 3 years financial industry working experience

Skills

• Strong oral and written communication in English; Mandarin and simplified Chinese an asset
• Familiarity with PC based applications with a solid working knowledge of Microsoft Office Suite (Word, Excel, PowerPoint, Access)
• Positive and professional work attitude with strong integrity and work ethics

Abilities

• To perform tasks in accordance with Branch policies, procedures, manuals, ensuring compliance with local laws and regulations
• To communicate and work closely with all department personnel as well as other departments to ensure smooth operation of the Branch
• To work under pressure in a fast-paced environment, balance multiple priorities, and meet deadlines

Reports to:
Head - Operations

Direct Reports:
None