Settlements Officer

  • Job category
    Banking and Finance
  • Job level
  • Contract type
    Full Time
  • Location
  • Salary
    S$3000 - S$4000

Job Description

1. Responsibilities

Head Office Liaison and Reporting (in Korean)

• To liaise with Head Office directly on Settlement matters and modules issues in the internal transaction system used by Settlement team

• To liaise with Head Office directly on any internal reporting matters related to Settlement.

• To liaise with Head Office and apply in IT management system on internal transaction system module enhancement, modification etc

Deposit and Remittance

• To liaise with Korean speaking customers regarding deposit and remittance matters

• Daily processing of deposit and remittance instructions from customers

• Keep track of maturing deposits and follow up with customers on whether to uplift or rollover the deposits

• Undertake onboarding processes for new customers’ accounts opening

Money market

Nostro reconciliation

• To monitor the balances in the nostro accounts reconcile with the ledgers in internal system

• To report to senior management if there is overdraft incurred or the excess funds exceed US$2 million for BOA, NY

• To investigate on outstanding items in the statements and seek rectification within 2-week period

Funds release via SWIFT

• Ensure the payments have been verified and duly checked prior to ‘Release’ in the internal system or SWIFT

• Ensure that SGD payments are properly prepared and funds released by 4 pm on same day

• Ensure that non-USD (AUD/CNH etc) SWIFT payments advice are prepared one business day prior to value date

Deal confirmation

• Ensure there is consistency on dealing slip details as well as on the broker’s fax or Reuters print-out

• Placements with banks are made according to the limits approved by HQ for the branch

Nostro accounts

• Ensure there is sufficient funds for the monthly/quarterly fees charges

• Observe the redundancy of account(s) and propose for closure

• Assist in the opening of new accounts as directed by Treasury or Corporate Banking team


a) Investment files

To assess the following documents are completed whenever there is a purchase or sale

- Deal confirmation

Deal ticket / broker’s confirmation or Reuter’s printout / approval by relevant authority in branch / limits check etc

- settlement documents

Euroclear advice or confirmation on the delivery of securities

b) Daily evaluation

• To monitor the movements in market prices of the investment portfolio for ‘near stop-loss limits’ and escalate the event to risk department / dealers / senior management for decision making

c) Credit ratings change

• To advise the management on the drop in ratings to below investment grade

d) Settlement

• To acknowledge and process all transaction documents for coupon received / swaps interest rate re-fixing / etc

• To monitor for any delay settlement in the coupon or principal payment

• To verify and investigate on funds received in error before returning to the remitting party

a) Hedging test

• To monitor the ‘hedging test’ results on quarterly basis for any ‘failed’ category and inform the dealers / risk department / senior management

• To review the daily report on the valuation via MUREX

b) OTC derivatives reporting

• To ensure the securities settlement staff as Operator uploads the OTC derivatives report daily to MAS via DTCC Singapore portal

• To act as ‘Coordinator’ via DTCC portal to create/modify/delete Operators

• EU-CCP daily settlements are processed on same Singapore business day subject to receipt of the statements received by 5 pm. After 5 pm, the settlements will be processed the next business day.

2. Requirement and Skills

- Bachelor’s degree (or equivalent) or above

- Work experience in Settlement in Banking is preferred

- New graduates or professionals with up to 5 years of experience are welcome to apply

- Professional level proficiency in English and Korean for Writing and Speaking

Closing on 19 Sep 2021

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