Butterfield's Banking Operations team supports millions of financial transactions globally across all of our banking locations. Our customers range from personal bank account holders to corporate and wealth clients. Banking Operations is a fast-moving environment, where innovation is at the heart of the team's everyday responsibilities to provide services that keep Butterfield at the forefront of financial services.
Reporting to the AVP, Custody Operations, the Custody Operations Administrator is responsible for providing administrative support for the daily Operations functions, including processing daily corporate actions, attending to security setup and amendment requests, and booking, allocating and releasing trades, subscriptions, redemptions and wire payments in various systems. The Administrator will ensure deadlines are met for US and Non-US traded securities, and mutual and alternative investment funds, while strictly following the operations guard lines. Additionally, the incumbent is responsible for all aspects of security pricing and validation in the custody system.
What you'll do
- Accurately inputting all assigned trading activity into the custody system and sub custodian online portals in a timely manner.
- Cross-checking reports to ensure all trade details are accurate to ensure a timely settlement.
- Liaising with brokers, depots, account administrators and custodians to ensure trades, subscriptions and redemptions are settled on contractual settlement dates.
- Processing and releasing redemptions, subscriptions and wire payments in sub custodian online portals and our internal banking system.
- Verifying and releasing trades in Portia Trader, BONY Workbench/NEXEN, BBH online portal and E2Gen.
- Collaborating with Legal and Compliance teams, ensuring fund investing clients meet fund and custodian AML/KYC requirements.
- Actively monitoring incoming emails to ensure all trading information is captured and client queries are responded to in a timely manner.
- Coordinating with the Cash Management team on a daily basis to ensure all trades are properly funded.
- Receiving and dispersing information from custodians to account administrators and portfolio managers on a timely basis.
- Communicating with custodians, brokers, depositories, account administrators and portfolio managers to ensure that trade disagreements and discrepancies are resolved in a timely manner.
- Supporting the investigations unit by researching and solving issues to ensure the timely resolution of any asset or cash discrepancies between the Bank's asset management platform and the custodian.
- Regularly following up with custodians on aged Subs and Reds, and unsettled trades.
- Monitoring and validating the integrated pricing into the Bank's asset management platform, and updating any missing prices and benchmark indices as required.
- Coordinating the set-up and maintenance of assets in the securities master file within agreed timelines.
- Setting up new securities within internal systems by cross referencing the data with vendor provided systems such as Bloomberg, and ensuring that security set-ups are validates as per the standard set-up policy.
- Identifying, investigating and resolving pricing discrepancies in accordance with set procedures.
- Accurate and timely processing of mandatory and voluntary corporate actions, such as dividend payments, reorganization, proxy, bond redemption, etc.
- Actively monitoring and correctly interpreting notifications of complex corporate action events in the global market, as well as accurately processing various entries in eligible client accounts.
- Researching and promptly responding to inquiries from internal business partners, depositories, agents, brokers, clients, investment managers, sub custodians and/or custodians.
- Assisting with internal audits and ad hoc projects as required.
What you'll need
- High school diploma or a minimum of two years' experience in a Global Custody environment.
- Excellent attention to detail.
- Self-starter and team player with the ability to analyse situations to determine the best resolution possible in a fast-paced environment, ensuring minimal impact to clients.
- Ability to effectively work under pressure to meet deadlines.
- Knowledge of different types of securities, i.e. common stocks, bonds, ETF, and alternative funds etc.
- Experience in a securities processing environment considered an asset.
- Knowledge in DTC, FED, CREST and Euroclear systems considered an asset.
- Working knowledge in Portia and Bloomberg terminal an asset.
- Excellent interpersonal, customer service and communication skills.
- Good knowledge of the Microsoft Office suite of applications.
A little bit about us
Butterfield Support Services (Halifax) Limited
To be the leading independent offshore bank and trust company
To build relationships and wealth
Approachable - Collaborative - Empowered - Impactful
Butterfield is a full-service bank and wealth manager headquartered in Hamilton, Bermuda, providing services to clients from Bermuda, the Cayman Islands, Guernsey and Jersey, where our principal banking operations are located, and The Bahamas, Switzerland, Singapore and the United Kingdom, where we offer specialized financial services. Banking services comprise deposit, cash management and lending solutions for individual, business and institutional clients. Wealth management services are composed of trust, private banking, asset management and custody. In Bermuda, the Cayman Islands and Guernsey, we offer both banking and wealth management. In The Bahamas, Singapore and Switzerland, we offer select wealth management services. In the UK, we offer residential property lending. In Jersey, we offer select banking and wealth management services. Butterfield recently established a Support Services Centre in Halifax, NS. Butterfield is publicly traded on the New York Stock Exchange (symbol: NTB) and the Bermuda Stock Exchange (symbol: NTB.BH).
Butterfield in Halifax
Butterfield Support Services (Halifax) Limited provides centralized, shared services and support to the Butterfield Group in the areas of Finance and Accounting, Human Resources, Information Technology, Operations, Client Services, and Compliance. Our team in Halifax is expanding to meet the growing and diverse needs of our businesses globally.
With more than 1,200 financial services professionals across ten international jurisdictions, the Butterfield experience is enhanced by robust learning and development opportunities, and comprehensive benefits. We provide a respectful environment where we value the diversity of our employees and the talents and experiences they bring to work. With a 160-year tradition of service excellence we empower individuals to achieve their potential and make a positive impact on our business, our clients and our communities.
To learn more about the Butterfield Group please visit www.butterfieldgroup.com.