Job Summary

The incumbent is primarily responsible for handling the settlement processing of Swaps, Cross Currency Swaps, Interest Rate Options and FRA efficiently and accurately in the FIDO area. This includes making payment and settlement entries for the transactions.

Job Description

PRIMARY RESPONSIBILITIES:
Settlement:

Process payments and accounting entries for USD/Cross Currency interest rate swaps, interest rate swaps, caps, floors, swaptions, FRAs, bond options and cash tickets in an accurate and timely manner. Resolve any problems that may arise from daily operations. Liaise with clients/ Front Office to ensure that settlements are properly executed.

Incumbent is responsible for confirming all upfront and end exchanges for Cross Currency trades which are CAD vs USD or CAD vs foreign currency.

Confirm and route payments and receipts using IRIS and Murex settlement queues to verification officers basket

Prepare payments using different payment devices: IRIS/Murex; SWIFT, Debit/Credit advice, etc.

Perform independent confirmations with counterparties on any buyouts/upfront/end exchange settlements resulted from existing and new deals booking, such as Cross Currency Swaps (if applicable), options premiums, principal exchanges, and swap upfront fees promptly and accurately prior to making payments & accounting entries.

Resolve any problems that may arise from daily operations. Liaise with clients to ensure that settlements are properly executed.

Maintain and update list of netting clients for future settlements

Daily review of pay/receipt report for 5 days in advance (prior to settlement date), check Infinity Reports and compare to IRIS to accurately route payment and receipt wires to Settlement Verification Officer for review, check the same within Murex and process as required. Ensure that nothing remains in Murex and IRIS system except trades with a special exception: waiting for rate reset, structured deals, and trades with outstanding confirmations.

Maintain updated settlement instructions in Infinity Customer database. Upon receipt of advice from counterparty and performing the necessary Call Back as per the standing order, update CIF and ensure that correct settlement instructions are used in making payments. If instructions exist, advise Trade Verification Officer to reassign correct SSIs.

Process third party payment authorization requirements (per standing orders) before the release of payments

Timely processing of payments for special handling clients. Ensure payments are sent through Murex/IRIS the night before value date; send email to Cash Management advising prompt release is required before 9AM on value date. Also ensure proper formatting on wire, i.e. /PRIORITY/.

Investigate and resolve all settlement problems and phone confirmation discrepancies (with counterparties or with the Investigation Department) same day if possible. Advise Associate Director of settlement problems which are not resolved same day.

Maintain good understanding of the various mainframe systems such as IRIS, Murex, Ensure compliance with mandated Unit Financial Controls/SOX Controls and RBC Standing Orders Policy requirements.

RIMMS, Nostro, SWIFT/FPAY & Infinity and how they interact with the operation of the desk in order to perform the job functions more efficiently and effectively.

Update the EUC Change Log for any changes made to the identified EUC spreadsheets (if applicable) in accordance to the EUC Policy guidelines.

Look into and work to clear any payment related investigation brought to your attention by the NOSTRO group. Minimize interest claims by providing quick response to payment investigations

EDUCATION AND/OR EXPERIENCE:
Required:

Minimum 1 year experience within Operations with exposure to Credit and Fixed Rate Derivatives.

Excel/VBA literate

Post-Secondary or equivalent

Preferred:

Good working knowledge of Fixed Income Derivatives trades and processing procedures.

Ability to manage stress and work accurately in a demanding environment.

Good working knowledge of various Systems: Infinity, Workflow, Murex

Good working knowledge of various PC applications: Microsoft, Word

Good interpersonal/communication skills in dealing with other officers & traders.

Ability to grasp new concepts quickly

Technical:

Good knowledge of Structured, Credit and Fixed Income Derivative products market standards and best practice including settlements

A sound knowledge of Infinity, Murex, RIMMS. IRIS, Workflow

Adhere to RBC's Standing Orders

Job Skills

Active Learning, Adaptability, Business Appraisals, Critical Thinking, Customer Service, Decision Making, Effectiveness Measurement, Operational Delivery, Process Improvements

Additional Job Details

Address:

90 WESTERN PKY:BEDFORD

City:

BEDFORD

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

CAPITAL MARKETS

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2025-01-02

Application Deadline:

2025-01-16

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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