Senior Administrator Settlements

Job description

Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them. Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself. Position Summary Under general supervision, responsible for the proper trade processing, clearance, and settlement of complex domestic and international securities transactions and derivative instruments executed in the Company's General Accounts, managed separate accounts, and proprietary funds. This role supports the complete trade lifecycle, including trade processing, settlement, security master maintenance, derivative support, exception management, and collaboration with traders, counterparties, custodians, and internal business partners to ensure timely and accurate settlement while minimizing operational risk. What You Will Do Ensure internally executed trades flow properly from Front Office systems to the Accounting System. Confirm trades with counterparties using a variety of automated trading platforms. Notify custodian banks of pending trade settlements and ensure trades settle accurately and timely. Monitor failed trades and partner with counterparties and custodians to minimize settlement failures. Serve as the primary point of contact for settlement exception management, partnering with brokers, counterparties, custodians, trading desks, and internal business partners to research and resolve complex trade settlement issues while minimizing operational risk. Investigate and resolve discrepancies with brokers, custodians, sub-advisors, traders, and counterparties. Monitor daily settlement queues and prioritize high-risk or high-value transactions to reduce settlement risk. Investigate cash and position breaks resulting from settlement discrepancies and coordinate timely resolution. Perform manual trade entry for transactions that cannot be processed through automated interfaces while ensuring accuracy and timely settlement. Update factors and settle cash with brokers as needed on structured securities. Set up and maintain Security Master Files (SMF) within the accounting system using Bloomberg, IDC, and other approved data sources. Review Security Master File (SMF) setups within the OnBase system for accuracy and completeness. Utilize Bloomberg Terminal to research security reference data, corporate actions, pricing, identifiers (CUSIP, ISIN, SEDOL), settlement instructions, and other market information. Process and maintain security master data by validating reference information across Bloomberg, IDC, custodians, and internal systems. Set up derivative instruments within the accounting system based on trade blotters from external managers and instructions from internal traders. Support settlement of OTC derivative products including swaps, forwards, options, futures, and other complex instruments. Reconcile margin cash movements with counterparties and ensure all related fund transfers are completed accurately. Process swap payments for General Accounts by communicating and confirming payment details with counterparties. Fund new private placement transactions by coordinating with traders, Legal, counterparties, and custodians. Ensure all required approvals and documentation are obtained prior to funding transactions. Open new global custody accounts for international portfolios, ensuring all required documentation is completed. Process sub-advised trades for complex portfolios, including dollar rolls and TBA transactions, utilizing automated trade load messages and vendor files whenever possible. Utilize DTCC CTM TradeSuite to monitor institutional trade matching, affirmations, and settlement status. Maintain and validate Standing Settlement Instructions (SSI) using DTCC ALERT and coordinate updates with counterparties and custodians. Research and resolve settlement issues by working directly with multiple global custodians, brokers, counterparties, portfolio managers, and trading desks. Ensure compliance with settlement deadlines, market conventions, and applicable regulatory requirements across domestic and global markets. Participate in testing, implementation, and enhancement of settlement systems, operational workflows, and process improvements. Identify opportunities to improve automation, increase operational efficiency, and reduce manual processing. Assist with month-end, quarter-end, and year-end operational activities and support. Maintain written operating procedures and provide support for audit, compliance, and internal control requests. Escalate operational risks and settlement issues that could result in financial exposure, failed settlements, or regulatory impact. Develop and maintain effective working relationships with traders, portfolio managers, custodians, brokers, counterparties, Legal, Treasury, Accounting, Compliance, and other internal business partners. Qualifications Bachelor's degree in Accounting, Finance, Business, or a related field, or equivalent work experience. Three (3) years of directly related experience in investment operations, trade settlements, investment administration, or a related financial services role. Without a degree, an additional two (2) years of directly related experience is required. Strong knowledge of securities, fixed income, mortgage-backed securities, derivatives, and institutional settlement processes. Experience with trade lifecycle management, from execution through settlement and reconciliation. Experience working with Bloomberg Terminal for security research, reference data, and Security Master maintenance. Experience utilizing DTCC CTM TradeSuite, DTCC ALERT, or similar institutional trade matching and settlement platforms. Experience maintaining Security Master Files and validating investment reference data. Knowledge of domestic and global market settlement practices and market conventions. Experience working with multiple global custodians, brokers, counterparties, and external investment managers. Strong analytical, problem-solving, organizational, and communication skills. Intermediate to advanced Microsoft Excel skills. Ability to manage multiple priorities while meeting critical deadlines in a fast-paced operational environment. High attention to detail and commitment to accuracy. We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age, race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law.