Settlements Manager, Citi

Citi

Location:
United Kingdom, Belfast

Category:
Finance

Contract Type:
Employment contract

Salary:

Not provided

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Job Description:

We are seeking an experienced and highly motivated Settlements Manager to oversee our daily Settlements function. This role is crucial for ensuring the efficient, accurate, and compliant settlement of all OTC Commodity transactions (both cash and physical). The successful candidate will be responsible for both processing and overseeing daily operations, managing a team of Settlements Analysts, implementing best practices, mitigating risks, and driving continuous process improvements. Join our team in Belfast and contribute to transforming and simplifying our operating model in a dynamic and supportive environment.

Job Responsibility:

Transaction Processing: Process timely and accurate settlement of a wide range of financial and physical commodities OTC products
Team Leadership & Oversight: Lead, mentor, and develop a team of Settlements Analysts, fostering a culture of high performance, accountability, and continuous learning
Oversight of key settlements risk processes such as affirmations, payments processing, MPIP, sanctions screening etc ensuring team adherence to internal policies, procedures, and service level agreements (SLAs)
Ensure team adherence to internal operational policies, risk management frameworks, and audit requirements
Actively investigate and take accountability for resolving settlement-related issues, breaks, and exceptions (e.g., failed trades, mismatched instructions,) in collaboration with internal teams (trading, sales, treasury) and external counterparties
Counterparty Communication: Liaise effectively with clients, clearers, and other external parties to ensure smooth settlement processes and resolve complex issues
Risk Management: Identify and escalate potential risks related to settlement failures, operational errors, and market changes. Adhere to all regulatory requirements and internal policies related to payment processing and other key policies such as sanctions screening etc
System Utilization: Utilize and navigate various internal and external settlement systems and platforms (e.g., SWIFT, DTCC, Omgeo CTM/Alert) efficiently
Reporting & Analysis: Prepare daily, weekly, and monthly settlement reports and provide analysis on settlement trends and metrics for senior management
Process Improvement: Proactively identify opportunities to improve settlement processes, enhance efficiency, and reduce operational risk. Contribute to the development and implementation of new procedures and systems
Documentation: Maintain accurate and up-to-date settlement procedures and documentation
Regulatory Compliance: Ensure all settlement activities comply with relevant industry regulations (e.g., T+2 settlement cycle, specific market conventions)

Requirements:

Significant relevant experience preferably within a settlements/payments function
Risk assessment capabilities - Capacity to identify potential operational risks (e.g., liquidity risk, credit risk, market risk associated with failed trades) and escalate them appropriately
Excellent analytical, problem-solving, and decision-making skills
High attention to detail and accuracy
Ability to manage multiple priorities and work effectively under pressure to meet tight intraday deadlines
Strong verbal and written communication skills, with the ability to articulate complex issues clearly to a senior audience
Experience with specific settlement systems (e.g., GCMS, SWIFT, CTM/Alert)
Knowledge of industry regulations (e.g., T+2 settlement)
Experience with process automation tools or data analysis software
People management experience and strong leadership record
An understanding of cash reconciliation processes would be desirable

Nice to have:

An understanding of cash reconciliation processes
Experience with process automation tools or data analysis software

What we offer:

Generous holiday allowance starting at 27 days plus bank holidays
increasing with tenure
A discretional annual performance related bonus
Private medical insurance packages to suit your personal circumstances
Employee Assistance Program
Pension Plan
Paid Parental Leave
Special discounts for employees, family, and friends
Access to an array of learning and development resources

Additional Information:

Job Posted:
August 21, 2025

Employment Type:

Fulltime

Work Type:

On-site work

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Settlements Manager