I. Job Summary
Responsible for the accurate, timely, and compliant processing and settlement of Unit Investment Trust Fund (UITF) and foreign exchange (FX) transactions. The role ensures proper execution of subscription and redemption transactions, validation of NAVPU applications, custodianship of settlement documentation, and coordination with internal and external stakeholders.
II. Duties and Responsibilities
Transaction Processing & Settlement of UITFs and FX
- Executes subscription and redemption orders for UITF participants.
- Ensures timely and accurate settlement of fund contributions and withdrawals.
- Coordinates with the Fund Accounting and Cash Management units for fund flows.
NAVPU-Related Functions (Functions verification from Accounting)
- Monitors daily Net Asset Value Per Unit (NAVPU) computations prepared by the Fund/ Accounting team.
- Ensures transactions are settled based on correct NAVPU as prescribed by BSP.
Custodianship & Record-Keeping of Transactional Documents
- Coordinates with securities custodians for settlement of UITF assets (bonds, equities, etc.).
- Maintains proper settlement records, transaction logs, and audit trails.
- Ensures safekeeping of instructions and settlement confirmations.
- Monitoring and Submission based on the TAT the following Documentation COI, COP and PNs.
Reconciliation, Call back & Reporting
- Performs daily reconciliation of UITF participant ledger vs. settlement transactions in coordination with reconciliation department.
- Prepares settlement reports for the Trust Operations Head and BSP regulatory submissions.
- Investigates and resolves settlement breaks or discrepancies.
Compliance & Risk Management
- Adheres to Bangko Sentral ng Pilipinas (BSP) Manual of Regulations for Banks (MORB) guidelines on UITFs.
- Ensures Anti-Money Laundering Act (AMLA) compliance in all settlement activities.
- Implements internal controls to avoid failed or erroneous settlements.
- Processes and settles FX transactions for trust accounts.
- Ensures matching of FX deals with counterparties (dealers, banks).
- Settles forwards, swaps, and other derivative products.
- Monitors FX exposures and settlement cut-offs.
