Commodities Settlement Analyst

1 week ago

Toronto, Ontario, Canada Royal Bank of Canada Full time

Come Work with Us
At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.


Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.


Job Title
Commodities Settlement Analyst

Settlements:

  • The role will consist of being the first line of defense any related Reconciliation issues, P/L or Balance Sheet Breaks. The analyst will assume a primary role on the daily tasks for their assigned product, complete the timely resolution of any issues that arise with appropriate escalation to Senior Analysts and Management as well as to provide innovative solutions for process inefficiencies.
  • On a daily basis verify and ensure accuracy of daily cash payments/receipts via wire transfers, G/L accounting entries through accounting systems in a timely manner while ensuring adherence to all relevant Standing Orders
  • Investigate and resolve any variances by working with counterparty and other Business & Client Services functional teams (Validations, Confirmations) and Trading Desk.
  • For any identified breaks, prepare detailed reconciliation of system settlement data vs. client data and ensure variances are investigated, resolved and escalated as appropriate
  • Update and maintain queries and reports that pertain to settlement related activity.
  • Acquire a solid understanding of businesses and how the trades are recorded.
  • Develop strong understanding of commodities trading products and trade instrument types to develop and maintain relevant accounting rules for the asset class support

Funding:

  • Review accuracy of data compilation to ensure the overnight/term funding requirements adhere to established funding thresholds.

Regulatory Reporting:

  • Review and verify completion of monthly, quarterly and yearly regulatory filings for the various RBC legal entities

Balance Sheet & P/L Account Analysis:

  • Reconcile and review data derived for daily P/L and Balance sheet reconciliation for internal stakeholders (trading desks, Product Control, Financial Control).
  • Assist Financial and Product control teams in investigating and explaining queries related to cash and p/l as it relates to BCS owned accounts.
  • Complete reconciliations of Balance Sheet to resolve any issues for Monthly submissions. Analysts are responsible in assisting Senior Analysts in ensuring the completeness, accuracy and adequate supporting documentation.

Project Management:

  • Propose initiatives to improve manual processes and liaise with business analysts and IT to provide requirements, test and onboard the process
  • Participate in team's project initiatives assisting with business requirements, user acceptance testing and onboarding to production.

Other:

  • Ensure that daily and monthly procedures, as detailed in the group's procedures and standing orders are strictly observed. Maintain and update operational procedures on a monthly basis.
  • Monitor and ensure Key Performance Measurements are maintained. Raise any concerns to management in a timely manner.
  • Proactively identify opportunities to further streamline processes.
  • Cross train and act as back up for other members of settlements team (including vacation coverage)

Job Summary


This position provides settlement and related support to internal and external stakeholders for the OTC Commodity derivatives and physical trading located in Toronto, Calgary, London and New York.

Key responsibilities include invoicing, payments/receipts, balance sheet & p/l account analysis, funding, regulatory reporting and project management.

The incumbent will ensure efficient and accurate daily processing of all commodity derivative trade settlements as well as reviewing completion of G/L and regulatory reporting.


Address:

TORONTO, Ontario, Canada

City:

CAN-ON-TORONTO

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

Capital Markets

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

Application Deadline:

Inclusion
and Equal Opportunity Employment
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We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work.

We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.


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