Margin Custody Services Representative, Associate

Permanent contract|United States|Banking operations processing

Margin Custody Services Representative, Associate

  • United States
  • Permanent contract
  • Banking operations processing

Responsibilities

The Margin Custody Services Department within Operations ensures the operational, administrative and financial processing of transactions initiated by the various business lines.  In addition, it ensures the control and security of transaction processing in accordance with current financial legislations and SRO regulations and handles the Daily Settlement processing for SG Paris and certain affiliates with securities held by SG Americas Securities (‘SGAS’) on the Broadridge BPS Back Office System.  The department also manages Margin Calculations and rate input for Debit/Credit interest in BPS for SGAS.  Margin Custody Services manages the input and settlement of Mutual Funds, Offshore Hedge Funds and Money Market for the client base and is the primary contact point for all customer inquiries as well as Front and Middle Office.  The department acts as liaison with certain outside vendors to ensure compliance with current financial regulations.

Margin Custody Services is responsible for the following:

  • Making available all the resources required for the administrative and financial processing of market and credit operations initiated by the various Business Lines
  • Performing reviews of client activity in accordance with regulatory requirements and ensuring the processing of transactions.
  • Managing operational risks.
  • Reconciliation and processing for all SG Paris Accounts.

The Margin Custody Representative is a member of the team who leverages their technical, operational and analytical skills to work with the various trading desks, BPO (Broadridge Processing Organization), IT (Information Technology), and the Middle Office to manage daily cash settlements, margin analysis and security settlements for SGPM and other Affiliates and clients.

In this role, the Margin Custody Representative will:

  • Manage functional and operational requirements with Stakeholders.
  • Provide daily reports for Senior Management.
  • Ensure adherence to regulatory, legal & compliance requirements by working with the relevant internal contacts.

RESPONSIBILITIES

The responsibilities for this position include:

  • Process the morning and afternoon Daily Settlement Report’s (DSR) for Fixed Income Accounts (SGAS as Clearer).
  • Process a DSR for SG Paris Equities and Options, and Affiliates SGAE and SGOE.
  • Input Trades for SGPM that are not currently processed STP.
  • Journal posting in BPS.
  • Identifying and resolving day to day issues in BPS accounts.
  • Responsible for initiating wires received from the various Business Lines.
  • Responsible for managing Margin Calculations and Break Resolutions for SGPM and Bernstein Investment Services (BIS).
  • Initiating wire payments to BIS on Commission Collection.
  • Responsible for confirming positions for SG Paris Class Actions.
  • SG Paris Proxy Reconciliations.
  • 15a6 Trading Break Resolution and Reconciliation. 

Profile required

TECHNICAL SKILLS

  • DTC Portal,
  • Broadridge BPS and Impact
  • Microsoft: Access, Excel, Word, Teams and Outlook.
  • Adobe Acrobat 

COMPETENCIES

  • Clear written and verbal communication skills, appropriate to a given audience, (technical, functional, etc.)
  • Ability to analyze complex workflow methodologies and make recommendations for improvement.
  • Must be comfortable working in a very dynamic environment, with rapidly changing priorities.
  • Must be comfortable working with counterparts, customers, other departments and outside vendors.
  • Excellent problem-solving skills.  
  • Must be able to interact with Stakeholders and support staff – traders, middle office, IT, etc.
  • Must be able to manage multiple tasks in parallel. 

PRIOR WORK EXPERIENCE

  • 5-10 years of experience in financial sector.
  • Knowledge of Broker Dealer operations and Market Practices.
  • Knowledge of Fixed Income, Equity and Option products.
  • Knowledge of US Regulatory Requirements (FINRA, Federal Reserve, etc.)

EDUCATION

Required/Must have:

  • Bachelors Degree
  • Series 99

Desired/Plus:

  • BS in Finance or Management is a plus. 

Business insight

OUR CULTURE: 
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate.
For more information about our Culture and Conduct initiatives, please visit this link (https://americas.societegenerale.com/en/careers/get-know-culture/)
D&I: 
Our Diversity & Inclusion Mission: Recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.

Our Diversity & Inclusion Vision: 
•     Engaged workforce that is demographically diverse in a way that reflects the communities in which we operate
•     Inclusive culture and workplace that recognizes employees' unique needs and utilizes their diverse talents 
•     Engage our community and marketplace, and position the organization to meet the needs of all its clients

For more information about our D&I initiatives, please visit this link (https://americas.societegenerale.com/en/societe-generale-about/diversity-and-inclusion/)

HYBRID WORK ENVIRONMENT:
For most positions, Societe Generale offers a hybrid work arrangement that offers employees the flexibility to work remotely, as well as on-site, in order to promote interaction and collaboration with colleagues while adhering to all SG standard protocols.  Hybrid work arrangements vary based on business area.  The applicable Business lines will determine and communicate the work arrangements that best meet their business needs.

COMPENSATION & SALARY RANGE:

Base salary range does not include overtime pay, bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience.

Societe Generale is an equal opportunity employer, and we are proud to make diversity a strength for our company. We are committed to recognizing and promoting the talents and achievements of our employees and staff, regardless of race, religion, color, national origin, sex, disability, age, gender, sexual orientation, and any other characteristic or status protected under applicable law.

Reference: 24000GZN
Entity: SG Americas Securities
Starting date: 2024/08/26
Publication date: 2024/07/08
Salary or Compensation Range: $67,000 - $160,000
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