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Responsible for evaluating, monitoring and timely processing of all transactions of corporate action (Fixed Income) information for foreign and domestic securities through our investment systems, Free Receiving and delivering of assets in client accounts, Private Placement processing, Reversals & Backdates, Tax Lot adjustments and Cost Basis Reporting. As experience is gained; Analyst will work on more complex transaction processing within the group. Requires the ability to gather & research information, resolve problems, and work well in daily deadline oriented environment. Also, requires the ability to work on multiple queries at the same time and to keep appropriate personnel informed of current activity and events. This would entail dealing with various internal contact persons, therefore requires good customer servicing skills.
Responsibilities include the following:
Research, evaluate, and process corporate action – fixed income payments from various external sources on a daily basis or as received. Contact external sources when needed.
Maintain Promissory notes databases/schedulers and ensure information is entered and distributed in a timely and accurate manner. Ensure all updates are made in each appropriate system
Processing of Free Receives & Delivers
Maturity process and collection of receivables.
Processing transactions related to Private Placements.
Processing of Open Orders and Distributions
Processing of Reversals and Re-processing of trades as per client request
Backdating the transactions to past date with due authorizations
Understanding Cost Basis Reporting concerns and processing the necessary adjustments.
Assist in any special projects as requested and assist other staff as necessary.
Sound knowledge of the financial markets is required. Ability to work with Technology team and various internal sources to ensure all requests are completed with good accuracy and efficiently. Must be well acquainted with Client statements and adhere to the procedures set forth with this job description.
As experience is gained, the analyst will be able to work with more senior level personnel and fully understand the section function in its entirety.
Job Duties/ Responsibilities
Processing all requests in the GMB and completing them with daily deadlines related to Corporate Action – Fixed Income, Promissory notes, Free Receives & Delivers, Private placements, Reversals & Backdates.
Researching, evaluating and processing corporate action information from various external sources on a daily basis or as received
Analyzing and following-up on the proper action to resolve pending Corporate Action problems
Second Sourcing of Corporate action is vital and validating the information with Custodian records prior to release/ working on corporate actions - fixed Income payments.
Need to challenge Custodian when discrepancies are identified in payments.
Ensure Security set up is accurate in our systems for releasing the payment.
Processing of Promissory Notes as per the set frequency and ensure they are accurately processed in client accounts.
Foreign/International payments should be repatriated to Base currency.
Processing of Incoming free Receives in client accounts with cost details & elivering out assets to other custodian (Domestic & Global assets)
Following up with CSA for cost details during Free Receives and validating the cost details prior to recording the asset.
Reconciling assets and cash breaks with custodian records and in case of discrepancies, need to work with TACC and to understand the outstanding items and making necessary adjustments for closure.
Transfer of securities between the client accounts as authorized.
Maturity processing and collection of receivables with custodian records
Processing of Interest payments which are associated with Maturity
Private Placement security – book keeping of records in client records.
Processing Open Orders and distributions for Pool investment securities.
Updating Daily NAV rates of different Funds in Global plus application
Research, evaluate and disseminate Cost Basis Reporting concerns and processing the adjustments of Amortization, Date of Death, and cost adjustments.
Reversing the transactions which need a correction.
Event reversals should be done when events require modifications.
Re-posting of trades/transactions with amendments is required to pair off the reversal transaction in client accounts.
Backdating the transactions to past date with due authorizations.
Understanding Cost Basis Reporting concerns and processing the adjustments of Amortization.
Cost adjustments as per Client requests.
Revision of processing codes and explanation text.
Date of Death validation: Through analysis is needed prior to DOD validation is done; post that necessary adjustments should be processed.
Amortization Reconciliation: On a monthly basis, amortization adjustments should be performed for Bonds securities and ensure amortization values are accurate in all client accounts
Serve as backup for Senior Analyst
Assist in any special projects as requested
KNOWLEDGE, EDUCATION, AND EXPERIENCE
Education Requirement – MBA (Finance) and accounting domain necessary.
2 – 3 years' experience requirement – relevant experience in the securities services.
LICENSES AND CERTIFICATIONS
AMFI certification is a plus.
ADDITIONAL DESIRABLE QUALIFICATIONS
Background in finance desirable
Experience in related line of business desirable (trade settlements, corporate actions, securities processing)
Excellent verbal, written and interpersonal communication skills
Ability to work independently and as a member of a team which includes the ability to be flexible and adaptable, and take initiative on one's own
SKILLS AND ABILITIES
Strong communication skills required – both oral and written
Heavy interaction with many US sites – ability to communicate well in English
Proficient in MS Office Applications
Ability to analyze complex situations and generate brief conclusions
Ability to manage multiple priorities and tasks
Ability to learn new technology and systems, and adapt to a rapid pace of change
PROBLEM SOLVING AND DECISION MAKING
Ability to solve complex problems on a regular basis.
Uses detailed reports and data to identify errors, omissions, inconsistencies, or trends
Must be able to make quick decisions and implement, while still being thorough
Ability to hear and speak to employees and outside business associates on the phone and in person
Ability to sit for long hours at a time
Ability to see the letters and numbers on a personal computer screen and on memos, reports and other documents (near vision)
Requires moderate right and left hand coordination for the use of the typewriter and/or personal computer
Ability to maintain a professional image
NOTE: The above statements are intended to describe the general nature and level of work being performed by incumbents. They are not intended to be an exhaustive list of all responsibilities, duties and skills required by all incumbents. Incumbents may perform other duties as assigned. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Management retains the right to add to or change the duties of the position at any time.
Work Timings: 6:30PM to 3:30AM
We rely on attracting and retaining employees of exceptional quality. In addition, we work to instill a performance driven culture that reinforces accountability, innovation, and professional development. To reach these goals, Franklin Templeton Investments provides a comprehensive employment program that comprises a balanced work/life philosophy, competitive salaries and substantial employee benefits and services, including:
Professional development growth opportunities through in-house classes and over 150 Web-based training courses
* An educational assistance program to financially help employees seeking continuing education
* Medical, Life and Personal Accident Insurance benefit for employees. Medical insurance also cover employee's dependents (spouses, children and dependent parents)
* Life insurance for protection of employees' families
* Personal accident insurance for protection of employees and their families