Associate Director, Syndicate Support
Top Benefits
About the role
Job Summary
** Job Description**
What is the opportunity?
This individual is responsible for day-to-day direction of the Syndicate support activities which include trade billing and problem resolution activities with the Equity Capital Markets and Debt Capital Markets businesses. Responsibilities include management and supervision of a team of individuals, coordinate resources, maintain productivity levels, and achieve operating efficiencies within prescribed trading, underwriting and regulatory policies and procedures, therefore ensuring trades are billed accurately and settled on time. The position will provide Trade Support for the Equity Capital Markets and Debt Capital Markets Trading Desks and revenue generators including the daily reconciliation, support and associated CDS and DTC settlements of equity and fixed income securities.
What will you do?
Day-to-day responsibilities require the employee to work accurately, able to manage stress, demonstrate strong problem-solving skills, good interpersonal/communication skills and perform the following:
- Manage and supervise the local Syndicate Support team and work closely with the team and other operational managers to develop and implement department policies and goals.
- Provide for training, cross training and ongoing systems/product training as pertains to new issue securities.
- Responsible for reviewing all syndicate support activities including all transactional and end of day checklists and trade comparison statistics to correct any operational problems.
- Supervise the coordination and management of the closing and settlement process for new issue activities, including but not limited to ticketing, wire transfers, flow of funds, CDS/DTC security deposits and some syndicate accounting.
- Ticketing/ contracting trades against the syndicate / selling group / president's list members and institutional accounts.
- Communication with internal partners such as Product Control, ECM, Settlements, and Trade Support teams.
- Liaise with external counsel and other syndicate members.
- Monitoring and management of internal inventories.
- Management of internal databases and systems
- Liaise with onboarding teams to assist in account openings processes for institutional accounts.
- Partner with the internal teams to improve both the efficiency and effectiveness of processes and policies.
- Manage special projects and ad-hoc requests to support the platform.
- Confirm all CAD, USD and foreign bonds with clients and ensure that all discrepancies are resolved as soon as possible prior to settlement for new issue trades. Facilitate the prioritization using Arrow of the new issue for correct and timely settlement.
- Resolving discrepancies will ensure new issues will not fail on settlement date. When necessary, liaise with Front Office, clients, DS Bond back-office, and/or cage to ensure that settlements are properly executed.
- Reconcile/Balance the daily bonds settlements between Bloomberg TOMs and Broadridge systems to ensure bonds are captured correctly for settlement & accounting purposes.
- if the new issue security is set up incorrectly, escalate to appropriate set-up groups for corrective action.
- Investigate position and status discrepancies.
- Ensure prompt action is taken on all new issue settlements same day. Inform the Manager of all issues, which are not resolved same day.
- Ensure that all trades are input correctly and that trades are properly assigned that require BO Flags/Keywords if applicable.
- Ensure compliance with mandated Unit Financial Controls/SOX Controls and RBC Standing Orders and Policy requirements.
- Actively monitor processes and workflows between the trading desks and the Operations Group to ensure smooth flow of tickets/information. Identify and recommend changes to improve efficiencies.
- Identify problems affecting the processing of the day’s work and communicate these to the appropriate person, ensuring problems are effectively resolved.
- Asist Management (AD/Director/MD) on ad hoc business requests as required.
- Bridge communication between BCS Operations and other functional groups and strengthen relationship with internal and external stakeholders.
EDUCATION AND/OR EXPERIENCE:
Required:
- Minimum 10 years Industry experience in an operations capacity. Solid knowledge of equity and fixed income securities, new issue market practices with particular emphasis on operational processes for such transactions.
- Proven People Manager experience.
- Experience in ECM/DCM closings or syndicate accounting is beneficial.
- Successful completion of the Canadian Securities Course (CSC)
- This role operates within a fast paced and tight deadline driven office environment, the successful candidate must be able to prioritize and execute multiple tasks by providing accurate, fast and friendly service.
- Strong verbal and written communication skills. Strong problem solving, analytical and critical thinking skills.
- Strong collaboration and project management skills. Proven experience and ability to work effectively with a project team.
- Strong interpersonal skills, enthusiastic and motivated team player, keen to learn and develop oneself.
- Ability to handle highly sensitive information with complete confidentiality.
- Ability to lead under pressure and deliver stellar results.
- Strong change leader with ability to influence and gain employee commitment.
- Experience interacting with senior management, vendors, consultants and external counterparties.
Preferred:
- BA/MBA or equivalent professional designation (CA, CMA, CGA).
- Intermediate to advanced knowledge of VBA and SQL
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
- Leaders who support your development through coaching and managing opportunities
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work
- Flexible work/life balance options
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at www.rbc.com/community-social-impact.
La Banque Royale du Canada est une institution financière mondiale définie par sa raison d'être, guidée par des principes et orientée vers l'excellence en matière de rendement. Notre succès est attribuable aux quelque 94 000+ employés qui mettent à profit leur créativité et leur savoir faire pour concrétiser notre vision, nos valeurs et notre stratégie afin que nous puissions contribuer à la prospérité de nos clients et au dynamisme des collectivités. Selon la capitalisation boursière, nous sommes la plus importante banque du Canada et l'une des plus grandes banques du monde. Nous avons adopté un modèle d'affaires diversifié axé sur l'innovation et l'offre d'expériences exceptionnelles à nos plus de 17 millions de clients au Canada, aux États Unis et dans 27 autres pays. Pour en savoir plus, visitez le site rbc.com/francais
Nous sommes fiers d'appuyer une grande diversité d'initiatives communautaires par des dons, des investissements dans la collectivité et le travail bénévole de nos employés. Pour de plus amples renseignements, visitez le site www.rbc.com/collectivite-impact-social.
Associate Director, Syndicate Support
Top Benefits
About the role
Job Summary
** Job Description**
What is the opportunity?
This individual is responsible for day-to-day direction of the Syndicate support activities which include trade billing and problem resolution activities with the Equity Capital Markets and Debt Capital Markets businesses. Responsibilities include management and supervision of a team of individuals, coordinate resources, maintain productivity levels, and achieve operating efficiencies within prescribed trading, underwriting and regulatory policies and procedures, therefore ensuring trades are billed accurately and settled on time. The position will provide Trade Support for the Equity Capital Markets and Debt Capital Markets Trading Desks and revenue generators including the daily reconciliation, support and associated CDS and DTC settlements of equity and fixed income securities.
What will you do?
Day-to-day responsibilities require the employee to work accurately, able to manage stress, demonstrate strong problem-solving skills, good interpersonal/communication skills and perform the following:
- Manage and supervise the local Syndicate Support team and work closely with the team and other operational managers to develop and implement department policies and goals.
- Provide for training, cross training and ongoing systems/product training as pertains to new issue securities.
- Responsible for reviewing all syndicate support activities including all transactional and end of day checklists and trade comparison statistics to correct any operational problems.
- Supervise the coordination and management of the closing and settlement process for new issue activities, including but not limited to ticketing, wire transfers, flow of funds, CDS/DTC security deposits and some syndicate accounting.
- Ticketing/ contracting trades against the syndicate / selling group / president's list members and institutional accounts.
- Communication with internal partners such as Product Control, ECM, Settlements, and Trade Support teams.
- Liaise with external counsel and other syndicate members.
- Monitoring and management of internal inventories.
- Management of internal databases and systems
- Liaise with onboarding teams to assist in account openings processes for institutional accounts.
- Partner with the internal teams to improve both the efficiency and effectiveness of processes and policies.
- Manage special projects and ad-hoc requests to support the platform.
- Confirm all CAD, USD and foreign bonds with clients and ensure that all discrepancies are resolved as soon as possible prior to settlement for new issue trades. Facilitate the prioritization using Arrow of the new issue for correct and timely settlement.
- Resolving discrepancies will ensure new issues will not fail on settlement date. When necessary, liaise with Front Office, clients, DS Bond back-office, and/or cage to ensure that settlements are properly executed.
- Reconcile/Balance the daily bonds settlements between Bloomberg TOMs and Broadridge systems to ensure bonds are captured correctly for settlement & accounting purposes.
- if the new issue security is set up incorrectly, escalate to appropriate set-up groups for corrective action.
- Investigate position and status discrepancies.
- Ensure prompt action is taken on all new issue settlements same day. Inform the Manager of all issues, which are not resolved same day.
- Ensure that all trades are input correctly and that trades are properly assigned that require BO Flags/Keywords if applicable.
- Ensure compliance with mandated Unit Financial Controls/SOX Controls and RBC Standing Orders and Policy requirements.
- Actively monitor processes and workflows between the trading desks and the Operations Group to ensure smooth flow of tickets/information. Identify and recommend changes to improve efficiencies.
- Identify problems affecting the processing of the day’s work and communicate these to the appropriate person, ensuring problems are effectively resolved.
- Asist Management (AD/Director/MD) on ad hoc business requests as required.
- Bridge communication between BCS Operations and other functional groups and strengthen relationship with internal and external stakeholders.
EDUCATION AND/OR EXPERIENCE:
Required:
- Minimum 10 years Industry experience in an operations capacity. Solid knowledge of equity and fixed income securities, new issue market practices with particular emphasis on operational processes for such transactions.
- Proven People Manager experience.
- Experience in ECM/DCM closings or syndicate accounting is beneficial.
- Successful completion of the Canadian Securities Course (CSC)
- This role operates within a fast paced and tight deadline driven office environment, the successful candidate must be able to prioritize and execute multiple tasks by providing accurate, fast and friendly service.
- Strong verbal and written communication skills. Strong problem solving, analytical and critical thinking skills.
- Strong collaboration and project management skills. Proven experience and ability to work effectively with a project team.
- Strong interpersonal skills, enthusiastic and motivated team player, keen to learn and develop oneself.
- Ability to handle highly sensitive information with complete confidentiality.
- Ability to lead under pressure and deliver stellar results.
- Strong change leader with ability to influence and gain employee commitment.
- Experience interacting with senior management, vendors, consultants and external counterparties.
Preferred:
- BA/MBA or equivalent professional designation (CA, CMA, CGA).
- Intermediate to advanced knowledge of VBA and SQL
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation
- Leaders who support your development through coaching and managing opportunities
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work
- Flexible work/life balance options
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at www.rbc.com/community-social-impact.
La Banque Royale du Canada est une institution financière mondiale définie par sa raison d'être, guidée par des principes et orientée vers l'excellence en matière de rendement. Notre succès est attribuable aux quelque 94 000+ employés qui mettent à profit leur créativité et leur savoir faire pour concrétiser notre vision, nos valeurs et notre stratégie afin que nous puissions contribuer à la prospérité de nos clients et au dynamisme des collectivités. Selon la capitalisation boursière, nous sommes la plus importante banque du Canada et l'une des plus grandes banques du monde. Nous avons adopté un modèle d'affaires diversifié axé sur l'innovation et l'offre d'expériences exceptionnelles à nos plus de 17 millions de clients au Canada, aux États Unis et dans 27 autres pays. Pour en savoir plus, visitez le site rbc.com/francais
Nous sommes fiers d'appuyer une grande diversité d'initiatives communautaires par des dons, des investissements dans la collectivité et le travail bénévole de nos employés. Pour de plus amples renseignements, visitez le site www.rbc.com/collectivite-impact-social.