Senthilkumaran Arumugam

Fixed Income Settlements Specialist (Global Funds Control - US Bonds Focus)

Job Summary

The Fixed Income Settlements Specialist is responsible for managing corporate bond transactions, ensuring timely settlement, and adherence to regulatory requirements. This role involves close coordination with trading desks, counterparties, custodians, and clearing corporations to resolve discrepancies and mitigate operational risk.

Key Responsibilities

Trade Settlement: Ensure all fixed-income trades (including U.S. Treasuries and repos) are confirmed, matched, and settled accurately and on a timely basis via platforms such as Fedwire and DTC.

Reconciliation: Perform daily reconciliation of cash and securities positions between internal systems, general ledgers, and custodian/clearing reports, investigating and resolving all breaks and unmatched entries promptly.

Fail Management: Monitor failing trades, identify root causes, and work with the middle office and counterparties to resolve issues, minimizing financial penalties, and reputational risk.

Communication : Serve as a primary point of contact for internal (trading, compliance, finance) and external stakeholders (counterparties, custodians, and paying agents) regarding settlement inquiries and problem resolution.

Payment Processing: Manage the processing of interest payments (coupons), principal redemptions, and other cash flows related to bond holdings.

Process Improvement: Proactively identify opportunities to improve straight-through processing (STP) rates, enhance efficiency, and participate in system upgrade user acceptance testing (UAT).

• Identified areas for process improvement within the department, leading initiatives to drive operational excellence.
• Mentored team members, fostering a supportive environment that encouraged professional growth.
• Collaborated with cross-functional teams to identify opportunities for process improvement and increased efficiency.
• Maintained up-to-date knowledge of relevant regulatory requirements, ensuring compliance across all aspects of the firm's operations.
• Implemented innovative tools and software solutions to enhance team productivity and streamline operations.
• Increased efficiency by streamlining data analysis processes and implementing automation tools.
• Set performance expectations for the team, monitoring progress towards goals and providing constructive feedback as needed.
• Enhanced team productivity by implementing efficient work processes and regularly reviewing performance metrics.