Analyst, FX Settlements

Role Description

Summary

Support the daily settlement, payment processing, exception management, and reconciliation of Foreign Exchange transactions, with a focus on Spot FX, FX Forwards, FX Swaps, NDFs, NDS, and related cash movements. In this role, you’ll work as part of the Derivative Operations team to help ensure trades, settlement instructions, payments, confirmations, and cash breaks are reviewed accurately, processed on time, and handled in line with internal controls, market deadlines, and counterparty requirements.

What you’ll do

• Assist with the validation, processing, and settlement of Foreign Exchange transactions, including Spot FX, FX Forwards, FX Swaps, NDFs, NDS, and related FX cash flows.
• Support daily settlement activities, including payment preparation, receipt monitoring, netting, CLS-eligible settlement, non-CLS payments, maturities, and value date processing.
• Review trade bookings, confirmations, settlement queues, payment queues, and exception reports; investigate discrepancies and escalate items that require additional review.
• Perform daily reconciliations of FX activity and related cash movements across internal systems, correspondent banks, custodians, brokers, clearing utilities, and counterparties.
• Work with Front Office, Middle Office, Treasury, Finance, Technology, Compliance, and external counterparties to help resolve settlement issues, cash breaks, and payment inquiries.
• Maintain accurate transaction records and assist with audit, regulatory, controls testing, and management reporting requests related to FX settlements and payment processing.
• Monitor CLS and non-CLS settlement activity, help identify unmatched trades or payment issues, and coordinate with senior team members to resolve items before market and currency cut-off deadlines.
• Prepare daily and weekly reporting for management and stakeholders, including status updates on failed settlements, aged breaks, exposures, and delayed payments.
• Investigate settlement fails, including fail-to-receive and fail-to-pay items, payment rejections, cash breaks, and claims, and summarize findings for review by senior Operations team members.
• Escalate disputed claims, high-risk exposures, unresolved settlement issues, and potential payment delays to senior team members and Operations management in a timely manner.
• Participate in process improvement initiatives by identifying recurring issues, documenting manual steps, and helping support control enhancements and workflow efficiencies.

Qualifications and Skills

• 0–2 years of experience in Foreign Exchange operations, settlements, trade support, treasury operations, middle office, or a related financial services role; internship or rotational program experience is welcome.
• Basic understanding of financial markets and willingness to learn the FX trade lifecycle, including trade capture, confirmations, settlements, payment processing, netting, value dates, maturities, amendments, and cancellations.
• Exposure to industry utilities, messaging, or platforms such as SWIFT, CLS, Bloomberg, FXall, 360T, Alert, Misys/Finastra, Murex, or correspondent banking systems is helpful but not required.
• Strong attention to detail, accuracy, and follow-through, with the ability to identify discrepancies and escalate issues appropriately.
• Ability to work in a deadline-driven environment, manage daily tasks, and prioritize work around market and currency cut-off times.
• Analytical mindset with a willingness to ask questions, investigate issues, and learn from senior team members.
• Strong written and verbal communication skills, with the ability to provide clear status updates to Operations partners and internal stakeholders.
• Proficiency in Excel and comfort learning financial systems, reconciliation tools, payment platforms, and reporting applications.
• Curiosity to expand your knowledge across multiple asset classes and build a long-term career in Operations.