| Employer: | Far east Bank
| Job Ref No: |
012-009
| Job Title: |
Settlement Officer
| Sector: |
Other
| Sub Sector: |
Traditional Asset Manager
| Risk Type: |
Other
| Expertise: |
Trading/Derivatives
|
This position is responsible for the overall settlement process for FX with FX deposit accounts maintenance and investment. Daily FX (Foreign Exchange) settlement process tasks include: - Confirms FX trades with currency payments for all FX products
- Maintains FX deposit accounts for cash-in/out with TCD confirmation
- Prints RiskLogic system report with check balance to daily funding/payment
- Prepares margin log and call report and EOB process via RiskLogic system
- Prepares month end interest accruals for margin trading, swap cost and deposit for SVGs TCDs accounts.
Daily investment securities settlement tasks include: - Confirms new/called securities with payment safekeeping with brokers/bankers
- Prepares fund transfers, G/L (General Ledger) posting and accounts reconciliation
- Provides customer services and interact with brokers, counterparties and customers, internally and externally
Daily accounting tasks include: - G/L posting, balancing reconciliation
- Prepares monthly interests accruals for FX deposits and Margin trading
- Resolves any discrepancies during settlement process.
- Responsible for monthly certification and reports for Accounting, Treasury and Parent bank.
Other duties include: - Daily filing with files shipped for offsite storage, periodically.
- Balances all FX trading activities and deposit accounts to the traders portfolio/position.
- Resolves any discrepancies incurred during the settlement process and report to unit manager.
- Prints/emails clients daily statement by request
- Prints/sends PA (Power of Attorney)/clients monthly statements by mail.
- Assists in various audit exams through the year.
- Serves as Back up for Investment settlement functions as needed.
- Officer is required to serve as back up for the Unit managers role in Supervisory monitoring and work approval for the unit.
- Incumbent must comply with all applicable banking laws and regulations, Bank Policies and procedures and Code of Conduct.
Education Requirement: University Degree preferred Qualifications: - Bachelors degree required.
- Accounting and General banking experience required.
- Bilingual in English and Chinese (Mandarin) is a plus.
- Good oral and written communication skills.
- Computer literate; fluency in Microsoft Office programs especially in Excel is a must.
Far East National Bank is an Equal Opportunity/Affirmative Action M/F/D/V Employer.
| Employment Type: |
Full Time
| Region/Country: |
Americas, United States
| States/Counties: |
California
| City: |
Los Angeles
| Address: | | Post Date: | 01/02/2012 |
