Securities Reconciliations - Intern

Clearstream is a leading European supplier of post-trading services. The wholly owned subsidiary of Deutsche Börse ensures that cash and securities are promptly and effectively delivered between trading parties. It also manages, safekeeps and administers the securities that it holds on behalf of its customers. Over 300,000 domestic and internationally traded bonds, equities and investment funds are currently deposited with Clearstream.

Your Responsibilities
Clearstream as premier provider of settlement & custody services needs to ensure continuous monitoring of service delivery processes and processing performance, establish and maintain strong operational controls and co-ordinate business contingency measures to comply with laws, regulations, policies and procedures.
The Securities Reconciliation unit covers the security reconciliation process for Investment Funds with primary focus on Alternative Funds. The unit based in Cork has a functional and line reporting to Reconciliations and Incident Management in Luxembourg.

 
The Custody Associate Intern will work within the Reconciliation & Incident Management section and be responsible for the following activities:

• Identifying funds on statements received from the market that fall out of automated process
• Input statement information to initiate reconciliation process for non-automated items
• Review of non-automatically matched items identified by the reconciliation processing and manually matching items where immediate reconciliation is possible
• Ensure regulatory compliance (e.g.CSDR) in the securities reconciliation process (i.e. ensuring daily reconciliation, investigation and allocation of reconciliations breaks, ensuring the integrity of the issue by identifying undue deletion or creation of securities in the reconciliation breaks.)
• Investigation of open items and allocation of open item for resolution by the Customer Ops
• Follow up on open items with Customer Ops in order to understand root cause of a reconciliation break and actions to be taken for resolution
• Be risk aware and take all steps necessary to minimise errors including fully complying with existing procedures and staying aware of procedure changes
• Escalate and advise any relevant issues to Management as necessary
• Provide a pro-active contribution to ensure individual and team targets and objectives are being achieved within required deadlines
• Assist in projects where required 

Your Profile

• Key attributes for the role include:
• An interest in learning about the funds industry
• Currently studying for a third level qualification in Business or Finance related area
• Be risk aware and take all steps necessary to minimise errors
• Proficient with MS Office Excel and Word
• Strong ability and experience of multi-tasking
• Proactive with strong organisational skills and the ability to work on own initiative
• Ability to work under pressure to meet deadlines
• Excellent problem solving skills
• Excellent interpersonal skills, working well independently and in a team environment
• Excellent accuracy and attention to detail
• Excellent communication skills, both verbal and written

 
 
NOTE:  This job description is not intended to be all-inclusive. Successful candidates may perform other related duties to meet the ongoing needs of the organization.

 
Testimonials from previous interns 
 
“One of the stand out features of the internship programme is the fact that we had many opportunities to incorporate our working and social life.  There is a great sense of ‘work-life balance’ within Clearstream.  There is a sports and social club, which offered us the chance to join the Company soccer team, pilates and circuits classes and more."
 
“I really enjoyed my experience working in Clearstream.  I instantly felt welcome and part of the Clearstream team.  There is a very open atmosphere within the teams, and so I always felt comfortable asking for help when I needed it.  As well as this, I felt that I was trusted and given responsibility when it came to my work.  I always felt that I was a valuable member of the team and that my input was valued.”
 
“Some of the main highlights from my internship include working with amazing people, gaining valuable experience in a great Company and the very impressive office facilities. During my internship, I had lots of opportunities to practice and improve my skills including problem solving and communication which will stand to me in the future.”
 
“My experience overall has been one I will never forget. I have become a valued member of a team and made so many new friends. I would highly recommend this internship to anyone as it is one where all the staff are friendly, accommodating and the working environment is one that is very pleasant to work in. I have gained valuable skills and knowledge that will benefit me when I return to college and for my future career.”