The new trading services manager will oversee a team of six and be responsible for managing all operational support, personnel, and administration for Cash Management, Money Market, Foreign Exchange, Derivatives, and Securities Trading activity (including transaction input, verification, positioning, reconciliation, settlements). Specific responsibilities will encompass processing and maintaining trading products including money market trades such as USD and Foreign Currencies Deposits and Placements, Futures, Options, Interest Rate Swaps, Forward Rate Agreements, Foreign Exchange Spot and Forwards and process and maintain domestic and international Securities trades (ABS, CD Issued, CE Purchases, Corporate Notes, Bonds and sales of all products). The Manager of Trading Services will:

 Maintain and Reconcile Bank’s USD cash position with dealing room.

• Monitor USD and Foreign reconciliations to ensure timely resolution of open items.
• Back-up the following key departmental staff in their absence:

a)       Assume duties of FX/CM Manager in his/her absence.

b)      Perform OFAC reconciliation between PRIME and banking applications.

c)       Depending upon agenda in Management Information and System committee meetings, representative for the Operations Department.  

• Verify end of day settlement transfers for branches.
• Verify and release payment messages. Prepare manual payments as needed.
• Liaison with external clients and internally between departments.
• Monitor OFAC application for violations and approve all false/positives.
• Ensure all transactions are in compliance with Bank Secrecy Act, OFAC and various other regulatory requirements. Alert management of any violations or suspicions.
• Ensure and Sign off on the monthly broker invoices for accuracy before payment execution by the accounting department
• Monitor treasury’s adherence to Head Office instructions and branch policy regarding unacceptable trading practices (broker points, switches, historical rate rollovers, etc.)
• Develop and educate staff as needed. Provide continuous training to all related staff.

 Qualifications:

The ideal Manager will have a minimum of 5 years experience in Money Market and Foreign Exchange processing as well as strong experience in department management. Knowledge of Money Market Instruments and Cash Management Products (ACH, Lockbox, Control Disbursement etc…) is critical, as is strong knowledge of regulations and compliance programs including BSA and the Patriot act.

MIDAS+ experience required. An understanding of CHIPS/Fed Wire/Reuters is expected.

Our client is looking for a team player with good communication and math skills and the ability to work under stress and work overtime when necessary.

Compensation to $100K base plus bonus.