FID Claims

EMEA SHIFT

Interest Claims Team (FID Claims - Mumbai) is a part of the ISG Fixed Income Ops team in Mumbai and provides support to various Business Units & Front Offices across asset classes within the firm. It is structured to focus on handling compensation claims & also penalties levied by regulatory bodies, on the back any late trade settlements.

Below are the primary functions performed by the Team:

• Capturing fails information from settlement pipes and generating potential claims.
• Ensuring every compensation/penalty case is thoroughly investigated for validity, party at fault, thresholds adherence, market guidelines etc.
• Monitoring of TMPG fines, Interest Claims and CSDR penalties for across asset classes – issuing and receiving claim letters and pursuing the entire process till claims/files are settled or rejected based on validity.
• Stakeholder management with MS Front offices, various Operations teams, Client Service teams & external counterparts in order to ensure fair compensation is agreed and settled within the market guidelines, whilst ensuring optimal client service through the whole process.
• Investigation and resolution of internal breaks.
• Vendor management for outsourced processes and running day to day controls for optimal process operations – in order to ensure quality, completion, adherence to firm's guidelines and policies.

The role involves liaising with Global Equity & Fixed income Teams & Management, the Finance Group, IT and other operational support areas to ensure that controls are maintained, and process risks/exceptions are understood and resolved in a timely manner.

Primary Responsibilities

Management

• Track daily claim generation
• Work with various stakeholders for claim validation, reporting and escalation
• Ensure claims are acknowledged, validated and settled within SLAs defined by claim guidelines
• Maintain and report KRIs

Control

• Maintain a strong control & risk management environment. Ensure all risks, issues and control gaps are escalated appropriately as per daily procedures ensuring accountability is maintained until resolution.

Commercial

• Ensure best practice is implemented as part of the Team's daily processing requirement.
• Help implement the department strategy working alongside the local and global teams and Senior Management.
• Manage primary relationships in other regions and resolve any issues that may arise.

Skills Required (Essential)

Qualifications

• Minimum Bachelor or Masters' degree

Experience

• Minimum 1-3 years' experience

Competencies

• Product Knowledge
  • Understanding of products – FX, Fixed Income and Equity
  • Understanding of Interest Claims & Penalties
• Exercises sound judgment and analysis
  • Displays well developed ability to comprehend, reason and process data.
  • Demonstrates excellent attention to detail when analyzing or interpreting data.
  • Asks appropriate questions to support BAU
• Demonstrates commitment to Control and Risk Management
  • Escalates clearly and appropriately
  • Capable of, or experienced in, meeting daily deadlines
  • Capable of, or experienced in, prioritizing multiple tasks when required
• Communicates Effectively
  • Capable of open, accurate and concise communication at all times, through both email or phone
  • Confident of communicating across many different areas and across levels

• Technical Knowledge/Experience
  • Experienced with MS Office (MS Excel/Access/Outlook etc.)
  • Track record of learning or adapting to new technology systems and applications

• Teamwork
  • Works effectively and builds relationships with colleagues
  • Willing to perform additional tasks, when required, to help team meet its control goals

Skills Required (Desired)

• Prior experience in investment banking operations or finance
• Knowledge of accounting principles (e.g. understanding of P&L calculations and reporting in banking context)
• Trade booking/flow knowledge