Core Reconciliation Analyst 

Euroclear Bank is the premier provider of settlement and related securities services for cross-border transactions involving domestic and international bonds, equities, derivatives and investment funds. Our Hong Kong Branch Operations Division is looking for 3 Core Reconciliation Analysts.

The Core Reconciliation team

Investigation and Reconciliation team is part of New Issues Department, along with the other teams: Acceptance, Securities Information, Primary Market Client Services, Information Services and New Issues Support team. Our department currently counts around 150 colleagues across sites.

Reconciliation process relates to mirroring internal activity of securities that customer hold with us, against the external records reported by our Depositories. This continuous activity applies for all our universe of securities with holding (currently 226,000). We monitor EB cash and securities accounts, securing integrity and alignment with our Depositaries and Cash correspondents.

95% of the securities reconciliation, corresponding to 80,000 securities movements per day, is performed on automated manner by the system. The remaining 5% is matched manually, while some are subject to further investigation, internally, externally or a combination of both.

As part of the reconciliation activity, we perform analysis of the causes for reconciliation mismatches relative to the position securities, held with our depositories. We are organising the flow around-the-clock, mirroring receipt of depositary statements, starting from Asian time zone and ending with European end of day. We investigate to identify the movements that correspond to each other, allowing reconciliation on transactional basis. The task objective is to fully analyse the various elements linked to balance mismatches, and secure balances are in sync with reporting received from depositories. For the resolution, we relay with the impacted transactional team. We therefore collaborate on daily basis with settlement, income, corporate actions, equity reach, funds linked to the core platform. Our knowledge expands over the various services and teams, as we get involved in resolution of the mismatches occurring along the various timing of security servicing life-cycle. In the investigation process, we follow-up the after-transaction flow, for example linked to proceeds or post-settlement securities and/or cash movements.

On daily basis, we are also in contact with external parties, namely depositories, collaborating with them when resolution extends externally.

Regulatory requirements have direct implications to the reconciliation process in Euroclear Bank as Financial Market Infrastructure. This regulatory context sets reconciliation in a new light, emphasizing the criticality of securing alignment between internal records and the ones of our external network parties (depositaries and cash correspondents) .

CSDR is clearly the regulation of high importance. It establishes reconciliation standards, highlighting the importance of daily reconciliation of internal records with external reporting and statements. As per this Regulation, the reconciliation is required to be performed daily, before the start of next-day settlement.

We count on the system solution to auto-reconcile the maximum possible, after which we would be left to manually reconcile the rest, and analyse the potential real mismatches and inconsistencies. As part of the process, we will also investigate outstanding cases and bring them to timely resolution.

Your part of the deal

As highlighted above, you will be part of a newly established team in HK, rolling out Core Reconciliation critical functions and interacting with colleagues in Europe, supporting one of the Bank’s corporate priorities.

Your profile

• Previous experience in operational environment
• Strong analytical skills and attention to details
• Continuous improvement and problem solving skills
• Risk minded
• Willingness to learn
• Procedure orientation
• Quality minded
• Team player with good intra-team communication skills

 Our part of the deal

• An opportunity to know the Euroclear Core Reconciliation business and to participate in the launch and growth of our business scope carried out of HK
• Learn about different market practices
• The chance to interact with our Depositaries
• Daily interaction with external and internal parties and stakeholders
• Work in a pleasant and dynamic team environment