Orla Rose Associates Looking for Settlement Analyst at Greater Toronto Area, Canada Full Time

FX Settlements and Payments Clerk

Job Description

We are seeking a diligent and detail-oriented FX Settlements and Payments Clerk to join our dynamic team in Toronto. The successful candidate will be responsible for ensuring the accurate and timely processing of foreign exchange (FX) transactions, settlements, and payments. This role requires a strong understanding of FX operations, excellent organizational skills, and the ability to work in a fast-paced environment.

Key Responsibilities

• Transaction Processing:
• Ensure timely and accurate settlement of FX trades, including spot, forward, and swap transactions.
• Monitor and manage the lifecycle of FX trades from execution through to settlement.
• Reconcile trade confirmations and resolve discrepancies promptly.
• Payments and Settlements:
• Process payments in multiple currencies, ensuring compliance with settlement instructions and deadlines.
• Liaise with counterparties, banks, and internal departments to resolve settlement issues.
• Verify and authorize SWIFT payments and other electronic payment instructions.
• Reconciliation and Reporting:
• Perform daily reconciliation of FX positions and balances.
• Prepare and distribute daily, weekly, and monthly reports on settlement activities and outstanding items.
• Assist in the preparation of regulatory and compliance reports as required.
• Risk Management:
• Identify and escalate potential settlement risks and issues.
• Implement and adhere to internal controls and procedures to mitigate settlement risk.
• Assist in the development and maintenance of operational policies and procedures.
• Communication and Coordination:
• Maintain effective communication with trading desks, back-office operations, and external counterparties.
• Respond to inquiries and provide support to internal and external stakeholders regarding FX transactions and settlements.
• Collaborate with the IT department to address system issues and enhancements.

• Experience:
• Minimum of 2 years of experience in FX settlements, payments, or related financial operations.
• Experience with SWIFT payment systems and FX trading platforms is highly desirable.
• Skills:
• Strong knowledge of FX markets and financial instruments.
• Proficiency in Microsoft Office Suite, particularly Excel.
• Excellent analytical and problem-solving skills.
• High attention to detail and accuracy.
• Strong organizational and time management skills.
• Effective communication and interpersonal skills.
• Ability to work independently and as part of a team.