Settlement Officer - Cape Town Based Stockbroker

Tracking Talent - a Wilson HCG company
Cape Town Region Cape Town, Western Cape Western Cape, South Africa
Closing date
Feb 1, 2023

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Job Role
Contract Type
Full Time
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A leading Stockbroker in Cape Town is experiencing fantastic growth and is looking for a Settlement Officer to join their Operations Team. This role is responsible for managing the settlement of all Equity, Derivative and Bond Trades in terms of the JSE Rules, and to support the Operations Team with other duties. This role offers excellent exposure and challenges within the Settlements and Operations Management functionality.

Duties & Responsibilities:
  • Manage the settlement obligations of all Equity, Derivative and Bond Trades in terms of the relevant exchange Rules and Directives
  • Ensure appropriate procedures are implemented and necessary action is taken to facilitate settlement of all transactions in accordance with the relevant exchange Rules and Directives
  • Advise the relevant exchange of any issue that may potentially impact on settlement of a transaction
  • Co-operate with the Settlement Authority of the relevant exchange to ensure the efficient and timeous settlement of all transactions
  • Deal with and follow up with the relevant stakeholders, including Banks, Clients, and Custodians to ensure transactions are committed to within the specified timelines
  • Effectively resolve queries as they arise
  • Notification of problem transactions needs to be done immediately to affected members and clients.
  • Constant monitoring and communication of trade statuses to clients, banks and the relevant exchange where required
  • Liaise with bank to ensure payment limits are appropriate
  • Liaise with bank to temporarily lift intra-day limits (Lift Fating Process)
  • Reconcile Net Settlements schedules to Bank Statements, and BDA
  • Review Client Brokerage Figures for reasonability and update Database with Figures
  • Follow exchange instructions regarding failed trades if required
  • Monitor trade exclusions as required to ensure correctly dealt with
  • Data Capture and Enquiries on the JSE's Broker Dealer Accounting System (BDA)
  • Ad-Hoc requests as and when required
  • Assist with the processing and settlement of local and international trades for the Equity and Equity Derivatives Market when required
  • Taking note of relevant Exchange Communications and participate in User Acceptance Testing (UAT) Testing as required
  • Compiling of incident reports analysing the root cause of any possible breaches and recommend preventative measures
  • Be cognizant of the relevant Compliance requirements
  • Support the Compliance Officer to ensure Compliance with applicable legislation including Exchange Rules and Directives, taxation, etc.

Qualifications& Experience:
  • BCom, B.Compt, BSC or equivalent is essential along with JSE Exams as listed below:
    • JSE AND RPE Exams
      • Introduction to Financial Markets (RPE)
      • Regulations and Ethics of the South African Financial Markets (RPE)
      • Bond Settlement Officer Exams (JSE EXAM)
      • Equities Settlement Officer Exams (JSE EXAM)
  • Minimum 5 years related experience a stockbroking environment with exposure to investment/financial markets
  • A solid understanding of financial instruments, including Fixed Income and Derivative Instruments
  • Knowledge and experience on local and international settlements.
  • Able to work on various IT systems (advanced Excel, Accounting & Exchange Systems, including Nutron, MecrasBDA and Swordfish)
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