Operations Analyst - Core Reconciliation

Euroclear Bank is the premier provider of settlement and related securities services for cross-border transactions involving domestic and international bonds, equities, derivatives and investment funds. We are looking for a Core Reconciliation Analyst to join our Hong Kong Branch within the Operations Division.

The Core Reconciliation team

Reconciliation process relates to mirroring internal activity of securities that customer hold with us, against the external records reported by our Depositories. This continuous activity applies for all our universe of securities with holding. We monitor EB cash and securities accounts, securing integrity and alignment with our Depositaries and Cash correspondents. Majority of the securities reconciliation, corresponding to securities movements per day, is performed on automated manner by the system. The remaining is matched manually, while some are subject to further investigation, internally, externally or a combination of both.    

As part of the reconciliation activity, we perform analysis of the causes for reconciliation mismatches relative to the position securities, held with our depositories. We are organising the flow around-the-clock, mirroring receipt of depositary statements, starting from Asian time zone and ending with European end of day. We investigate to identify the movements that correspond to each other, allowing reconciliation on transactional basis. The task objective is to fully analyse the various elements linked to balance mismatches, and secure balances are in sync with reporting received from depositories. For the resolution, we relay with the relevant transactional team. We therefore collaborate on daily basis with settlement, income, corporate actions, funds linked to the core platform. Our knowledge expands over the various services and teams, as we get involved in resolution of the mismatches occurring along the various timing of security servicing life-cycle. In the investigation process, we follow-up the after-transaction flow, for example linked to proceeds or post-settlement securities and/or cash movements.

On daily basis, we are also in contact with external parties, namely depositories, collaborating with them when resolution extends externally.

Regulatory requirements have direct implications to the reconciliation process in Euroclear Bank as Financial Market Infrastructure. This regulatory context sets reconciliation in a new light, emphasizing the criticality of securing alignment between internal records and the ones of our external network parties (depositaries and cash correspondents) .  

CSDR (Central Securities Depositories Regulation) is clearly the regulation of high importance. It establishes reconciliation standards, highlighting the importance of daily reconciliation of internal records with external reporting and statements. As per this Regulation, the reconciliation is required to be performed daily, before the start of next-day settlement. We count on the system solution to auto-reconcile as much as possible, after which we would be left to manually reconcile the rest, and analyse the potential real mismatches and inconsistencies. As part of the process, we will also investigate outstanding cases and bring them to timely resolution.

Your part of the deal

You will be part of team in Hong Kong, to perform Core Securities Reconciliation critical functions and interacting with colleagues in Europe, supporting one of the Bank’s corporate priorities.

Your profile

• Strong analytical skills and attention to details
• Ability to work multi-task and strong deadline management skill
• Strong sense of accountability and ownership
• Continuous improvement mindset and problem solving skills
• Willingness to learn
• Procedure orientated
• Team player with good intra-team communication skills
• Minimum 1 year working experience with background in banking or securities operations processing is preferrable

Our part of the deal

• An opportunity to know the Euroclear Core Reconciliation business
• Learn about different market practices
• The chance to interact with our Depositaries
• Daily interaction with external and internal parties and stakeholders
• Work in a pleasant and dynamic team environment

Absolutely key to our business are our Corporate Values; Respect, Effective, Accountable, Client First & Helpful. 

REACH embodies our aim to exceed expectations, to take advantage of new opportunities and to reach out to help our clients achieve success.

Euroclear recruits people from all walks of life. Our 4,000 employees represent + 80 nationalities, of which over 50% are women. We are deeply convinced that diversity of talents, backgrounds and opinions is a key to success, by fostering engagement, energy and innovation. We are committed to promoting diversity within the organisation, as well as an inclusive environment where everyone can be themselves, feels valued and respected, regardless of their background.