Actively pursue resolutions for Member issues; follow up and report results in regular updates to CPS Manager. Act as a liaison between the department and its Member accounts. Actively interact with Custodial Bank and its administration to resolve issues concerning daily settlements, corporate actions, security income, or any other issues that may arise throughout the course of the day. Take lead on Custodial Bank system issues and problems that occur which are not part of the normal course of the day. Monitor daily transactions for customers. Process transactions for customers ensuring appropriate customer service is being address on both customer requests as well as proactive initiatives. Ensure Members are fully collateralized on a daily basis.
Essential Job Function:
- Interact with Custodial Bank’s officers and administration to resolve any day-to-day issues with settlements, customer reports, customer set-up and any other problems that may arise throughout the course of the business day, as well as any out of the ordinary issues that may arise such as system failures, missing deliverables and special projects.
- Continually monitor trade accuracy, including physical security settlement, as well as income processing standards for the department. Liaison with Citibank regarding settlement issues or missing paperwork, and keep the member abreast of current trade status.
- Proactively keep customer accounts abreast of changes to Industry Standards and Practices such as, but not limited to: extended settlement deadlines, changes to payment delays and the introduction of new security types (i.e. Reverse Mortgages, Sinking Funds, etc.)
- Maintain the overall level of operational effectiveness and increasing customer service by acting as a liaison between CPS and the Member institutions and initiating customer outreach when applicable. Assist Members through more difficult processes such as trade fails, settlements, SafeWord card issues and other recurring Member issues.
- Create and verify Margin Calls for Customer Accounts. Ensure all accounts are in compliance with collateral standards by the end of every day. Assemble and verify the Daily Under Collateralized Report. Ensure all accounts are in compliance with collateral standards by the end of the day and report any not in compliance in a timely basis.
Skills & Experience:
- Seven+ years’ experience in a financial institution with at least 2 years working within Custody and Pledging Services (CPS):
- Moderate to strong knowledge of the Securities Industry.
- Strong experience with customers and third-party vendors.
- Proficient with Microsoft Excel, Access, PowerPoint and Word.
- Proficient with Windows Bloomberg & API Functions.
- Excellent written and verbal communication skills required.
- Excellent interpersonal skills required.
- Moderate to strong working knowledge of the securities industry.
- Securities clearing, as well as mortgage and custody services required.
- Strong experience with customer service, including external customers (vendors).
- Experience with problem resolution and follow up competencies a must.
- Experience with project work as well as back office or Operations department experience.
Salary Range: $85,000 - $100,000
Skills:
Top Skills
What We Do
The Federal Home Loan Bank of New York (FHLBNY) is a privately-owned wholesale bank that helps community lenders in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands advance housing and community growth. The FHLBNY membership is comprised of commercial banks, savings banks, savings and loans, credit unions, insurance companies and community development financial institutions.
The FHLBNY is part of the Congressionally-chartered, nationwide Federal Home Loan Bank System, which was created in 1932 to provide a flexible liquidity source for member community lenders engaged in home mortgage and neighborhood lending. The mission of the FHLBNY is to advance housing opportunity and local community development by maximizing the capacity of community-based member lenders to serve their markets.
Since the FHLBNY is a secured lender, all of its credit products require real estate related collateral. The FHLBNY enables local lenders to extend affordable credit to their communities. Thanks to the Federal Home Loan Bank System, communities across the country have access to more affordable housing, small business, and community development programs.
