Summary:
Own the end-to-end settlement, payment processing, exception management, and reconciliation of Foreign Exchange transactions, with a primary focus on Spot FX, FX Forwards, FX Swaps, NDFs, NDS, and related cash movements. In this role, you’ll sit at the center of the Derivative Operations team, ensuring trades, settlement instructions, payments, confirmations, and cash breaks are processed accurately, on time, and in line with internal controls, market deadlines, regulatory expectations, and counterparty requirements.
What you’ll do:
Validate, process, and settle Foreign Exchange transactions, including Spot FX, FX Forwards, FX Swaps, NDFs, NDS, and related FX cash flows. Manage daily settlement activities, including payment release, receipt monitoring, netting, CLS-eligible settlement, non-CLS payments, maturities, and value date processing. Monitor trade bookings, confirmations, settlement queues, payment queues, and exception reports; investigate discrepancies and drive timely break resolution through to closure. Reconcile FX activity and related cash movements across internal systems, correspondent banks, custodians, brokers, clearing utilities, and counterparties to ensure books and records remain accurate. Partner closely with Front Office, Middle Office, Treasury, Finance, Technology, Compliance, and external counterparties to resolve failed settlements, reduce recurring breaks, and support smooth trade lifecycle management. Maintain accurate transaction records and support audit, regulatory, controls testing, and management reporting requirements related to FX settlements and payment processing. Monitor CLS and non-CLS settlement activity, investigate unmatched trades or payment issues, and coordinate timely resolution before market and currency cut-off deadlines. Produce daily and weekly reporting for management and stakeholders, including clear commentary on failed settlements, aged breaks, high-risk exposures, and delayed payments. Investigate settlement fails, including fail-to-receive and fail-to-pay items, payment rejections, cash breaks, and claims, and provide Front Office partners with comprehensive analysis to support decision-making. Escalate disputed claims, high-risk exposures, unresolved settlement issues, and potential payment delays to the Front Office and Operations management for further review and appropriate next steps. Identify opportunities to improve FX settlement workflows, strengthen operational controls, reduce manual intervention, enhance straight-through processing, and support scalability across systems and processes.
Qualifications and Skills:
Experience in Foreign Exchange operations, settlements, trade support, treasury operations, or middle office functions, preferably within an investment bank, broker-dealer, asset manager, or financial institution.
Strong understanding of the FX trade lifecycle, including trade capture, confirmations, settlements, payment processing, netting, value dates, maturities, amendments, and cancellations.
Familiarity with industry utilities, messaging, and platforms such as SWIFT, CLS, Bloomberg, FXall, 360T, Alert, Misys/Finastra, Murex, and correspondent banking systems.
Strong control mindset with the ability to identify settlement risk, escalate issues appropriately, and follow through on exception resolution.
Detail-oriented and deadline-driven, with the ability to manage high-volume settlement activity, currency cut-offs, and competing priorities in a fast-paced trading environment.
Analytical, proactive problem-solver with strong communication skills across Operations, Front Office, Middle Office, Treasury, Technology, and external counterparties.
Proficiency in Excel and comfort working across financial systems, reconciliation tools, payment platforms, and reporting applications.
Curiosity to expand your knowledge across multiple asset classes.
