Operations Manager - Regional Securities, Settlement and Administration

The incumbent is responsible for the overall monitoring and daily operations of the Securities Settlement, Trading and Securities Admin as well as Investments and Credit (PNote) Admin Teams.

SCOPE OF JOB: Responsible for the overall monitoring and daily operations of the Securities Settlement, Trading and Securities Admin as well as Investments and Credit (PNote) Admin Teams; ensuring that the teams operate efficiently and in accordance with regulatory standards and industry best practice through enforcement and enhancements of the internal processes and procedures. Responsible for ensuring accurate and timely confirmation and settlement of all trade transactions including but not limited to assignment of securities for repurchase and reverse repurchase agreements, stock brokering, credit administration, document records management. The position is also responsible for general administrative functions relating to daily functions and operations of the unit. In addition, coordinate and monitor operational functions to ensure delivery of high quality internal and external client care services, while minimizing risk exposure to all stakeholders.  Coach and develop Team Members to achieve key performance expectations. Provide support for process improvement projects and implement the Business Continuity program within the unit.

 MAIN DUTIES & RESPONSIBILITIES:

• Fully accountable for the management/monitoring of securities portfolio and settlements of all trade transactions for JMMB Bank and Investments for Jamaica, Trinidad and Tobago and Barbados. This includes overseeing the daily activities (for end-to-end process, checks and balances for the administration and settlement of the Securities Settlement, Trading and Securities Admin and Credit (Pnote) Administration Units, ensuring all transactions are duly executed and completed within the relevant timeframe including but not limited to:
  • Proprietary Fixed Income Local and International Trading
  • Equity and Security Trading Capital Market Deals 
  • Corporate Issues
  • Primary and secondary market trading (including but not limited to Private placements, corporate and issues, IPOs, debt restructuring etc.)
  • Client Brokered Trades and Transactions
• Overall management of securities and ensuring transactions are duly processed to support maximum efficiency in utilization of security and supporting proprietary trading and transaction needs.
• Provide guidance and support to all front office teams with regards to Investment Transactions as appropriate.
• Defines and develops the department’s role in achieving the Group’s strategic objectives.
• Manages and monitors policies and procedures to ensure that there are appropriate controls for all settlement functions and in conjunction with the Group Change Support Services (GCSS), develops policies and procedures for performing the department’s functions.
• Co-ordinates implementation of approved policies for the up-to-date and secure management of the Group’s financial assets, through timely and pro-active liaison with all relevant internal and external parties
•  Responsible for the department’s compliance with all applicable laws and regulations and review all relevant regulatory reports for the unit, including but not limited to preparation and submission of the weekly, monthly and quarterly FSC match reports, ad hoc reports as requested by the FSC,  and  daily retail repo assignments. 
• Ensure all relevant reconciliation and reports are prepared and exceptions duly addressed in a timely manner.
• Responsible for providing detailed responses to Audit Reports and responsible for the correction of any audit deficiencies.
• Responsible for ensuring adequate manning and manpower needs of the department including but not limited to:

ü  Identifying required competencies, tasks and performance standards for jobs.

ü  Drafting the Job Descriptions for all new or re-structured positions in the department and presenting to ETL for approval.

ü  Reallocating the human resource to meet demands for service from the department.

ü  Keeping the Group Operations Manager and/or HR Department abreast of any departmental long-term re-structuring or new task assignments for Team Members, so that adjustments may be made in the affected records.

ü  Assist with theselection of Team Members for the department.

ü  Liaising with Technical Operations Unit and the Systems Department to ensure work area is ready for new Team Member.

• Responsible for directing, fostering teamwork, leading and managing the Team Members to achieve excellence and to facilitate its efficient, effective, caring operations.
• Analysis of workload, and the establishment of a realistic work schedule and performance monitoring for self and reportees
• Takes the necessary action to resolve conflicts and/or give recognition to success; recommend or to implement awards and/or disciplinary action for a reportees

• Leading the on-the-job and cross-training of reportees, to develop their knowledge, skills and attitudes as regards the job
• Department’s representatives in the development of new products, procedures where there is a direct and indirect impact to the settlement function.
• Supports the annual budget process by providing information on department requirements (e.g., human, technological, fixtures etc.) based on planned growth and/or shrinkage. Maintains general oversight of Departments document   custody and storage.
• Analyses and monitors current policies and methods of operations for quality, efficiency and cost considerations, in order to identify and recommend opportunities for continuous improvement.
  • Assist Group Operations Manager in the co-ordination of the department’s Disaster Preparedness Plan and other contingency plans.
  • Engages the commitment of department Team Members in fulfilling their designated emergency roles.
  • Authorize signatory and approver for JMMB Group, JMMB Investments, JMMB Securities, JMMB Investments (Trinidad and Tobago) Limitedand JMMB International Ltd.
  • Supports group functions for group companies as necessary and assigned.
  • Any Other duties assigned.

EDUCATION, TRAINING & WORK EXPERIENCE REQUIRED:

• Post Graduate degree in Management, Banking or Finance from a recognised tertiary institution or equivalent experience.
• Minimum of five years operations management experience preferably in the Financial Services Sector  with at least 3 years managing at a senior level
• Experience in securities and stock brokerage operations and understanding of the pricing and execution of fixed income securities would be an asset.
• Working knowledge of financial sector instruments, laws, regulations, ethics and professional jargon
•  Excellent oral and written communication skills
• High level of proficiency in the use of computers, particularly word processing and excel spreadsheets.
• .
• High level of accuracy and keen attention to details
• Resourceful with excellent problem solving skills.