FX Settlements Associate

FX Settlements Associate · White Plains, NY · $78,000–$125,000 base · Hybrid

Our client, a global bank, is hiring an FX Settlements Associate to own settlement, payments, exception management and reconciliation across its foreign exchange business.

Responsibilities

• Run the daily settlement cycle: releasing payments, monitoring receipts, netting, CLS and non-CLS flows, maturities and value dates.
• Settle spot, forward, swap, NDF and NDS trades and their cash flows, from validation through final payment.
• Work settlement and payment queues and exception reports, and chase breaks and unmatched trades to closure ahead of market and currency cut-offs.
• Reconcile FX activity and cash against counterparties, brokers, custodians, correspondent banks, clearing utilities and internal systems so books and records stay accurate.
• Investigate fails to pay and receive, cash breaks, rejected payments and claims, give the Front Office analysis to act on, and escalate disputed or high-risk items to Operations management and the Front Office.
• Work with Treasury, Finance, Compliance, Technology, the Front and Middle Offices and outside counterparties to fix failed settlements and reduce repeat breaks.
• Report daily and weekly to management on fails, aged breaks, delayed payments and high-risk exposures, and keep records ready for audit, regulatory and controls-testing requests.
• Improve FX settlement workflows and controls, cutting manual work and raising straight-through processing.

Requirements

• A solid grasp of the FX trade lifecycle, from trade capture and confirmations through netting, payments, amendments, cancellations, value dates and maturities.
• Experience in FX settlements or operations, trade support, middle office or treasury operations, ideally at an asset manager, broker-dealer, bank or similar financial institution.
• A control mindset: spotting settlement risk, escalating appropriately and seeing exceptions through.
• Comfort juggling deadlines, currency cut-offs and heavy settlement volume in a fast-moving trading environment.
• Clear communication with Operations, the Front and Middle Offices, Treasury, Technology and outside counterparties.
• Strong Excel skills and ease moving between financial, reconciliation, payment and reporting systems.
• Pluses: exposure to Murex, Misys/Finastra, SWIFT, CLS, FXall, 360T, Alert, Bloomberg or correspondent banking systems; knowledge of US Treasury settlements; curiosity about other asset classes.

Why this firm

This is a growth seat on a small, expanding team, suited to someone who wants to build toward a manager-level role over time.

Hybrid. Visa sponsorship is not available.

The annual base salary range is $78,000 to $125,000. Actual compensation offered to the successful candidate may vary from posted hiring range based upon geographic location, work experience, education, and/or skill level, among other things. Details about eligibility for bonus compensation (if applicable) will be finalized at the time of offer.