Fifth Third Bank Securities Settlements Specialist II in Cincinnati, Ohio
Fifth Third Bank is one of the top-performing banks in the country, with a heritage that spans more than 150 years. We've staked our claim on looking at things differently to making banking a Fifth Third Better. This applies to our relationships with customers and employees alike.
We employ about 18,000 people, and what we offer is:
# A chance for employees to build their future, with supportive career development and financial wellness programs.
# An environment where we win together. We celebrate achievement and work collaboratively. We're also a three-time Gallup Great Workplace honoree.
# An invitation to impact lives in a positive and lasting way. Everything we do is geared toward improving lives. That's fun and exciting.
It comes down to the fact that Fifth Third is a warm and caring place to with which to grow # as a customer or as a team member.
Central Operations is the home of over 2,300 employees who handle Fifth Third Bank's back-office functions and Contact Center services for nearly six million customers. Our goal is to operate as an efficient, behind-the-scenes machine to allow Fifth Third Bank transactions to be seamlessly executed for our affiliates and customers.
GENERAL FUNCTION: In an area of high dollar volume and under minimal supervision, responsible for the daily monitoring of settlement activity for security and funding transactions. Area is responsible for $1.2 trillion in trades annually. Adheres tointernal department procedures and deadlines to ensure regulatory compliance and exemplary customer service.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank#s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES & RESPONSIBILITIES:
- Trading/Settlement activities # 50%:
o Verify trade settlement information at depository and in proprietary system.
o May be required to execute new trades/instructions in various markets.
o Executes new trade instructions in the market for all mutual fund activity.
o Ensure effective, prompt and accurate executions of settlement activity to verify trades are being keyed in accurately and track for correct settlement, including high volume and high dollar/risk trades.
o Daily resolution of any settlement exception or discrepancy.
o Respond quickly to time sensitive issues.
o Reconcile cash and security positions with internal and external counter parties on a daily basis.
o Contact counter party to request funds or to send wire for funds on the settlement date.
o Verifying accuracy of incoming documents and processing work using internal quality assurance processes.
o First point of contact for any internal officer needing assistance for any settlement/mutual fund trading issue.
o Handling securities processing tasks of a more difficult nature and/or higher risk as needed.
- Customer Service # 30%:
o Maintain frequent interaction with depositories and counter parties to be able to respond effectively to problems with trade settlements to avoid fails.
o Report and record fail activity to Brokers, Investment Advisors, front and middle office and clients.
o Assist in the resolution of problems associated with settlement activity and escalate issues/concerns to supervisor.
o Communicating with administration, vendors and/or depositories as appropriate in accordance with established service guidelines.
o Communicate settlement discrepancies/exceptions to administration, investment manager or customer rep, including providing instructions and guidance on proper resolution of issue.
- Other Duties:
o Considered Subject Matter Expert. Serves as a departmental resource for ongoing questions and problem solving for team members and others inside and outside of the department.
o Serving as backup and/or is cross-trained on other functions within the department.
o Assist with the training of new employees, as assigned.
o Assist with or manage special projects.
SUPERVISORY RESPONSIBILITIES: None.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Bachelor's degree in Business, Finance, Accounting, or progress towards degree or equivalent work experience.
Minimum 3 year of operations experience in securities clearance industry required. Trust/Securities Processing/banking and/or back office operations processes experience required.
Knowledge of cash/securities clearance processing preferred.
Possess excellent written and verbal communication skills.
Possess professional customer service skills.
Strong mathematical and organizational skills.
Ability to work in stressful environment and meet deadlines.
Ability to multi-task with high attention to detail.
Strong problem solving skills.
Proficiency in MSExcel, MSWord.
Fifth Third Bank is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.