Settlements Analyst

Ruffer LLP
London, United Kingdom
18 May 2023
17 Jun 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Do you have 3+ years experience working within an operations or settlements role, ideally within the investment/ asset management industry?

Do you have a passion for client service, with a strong level of attention to detail?

Are you confident in your standard of IT Literacy (MS Office, Word, PowerPoint, excel)?

We are currently recruiting for a Settlements Analyst to work within our busy operations team, who will be responsible for the timely settlement of equity and fixed income trades booked.


Ruffer is an independent private partnership with over £26 billion under management and around 340 members of staff. It manages investments on a discretionary basis for individuals, trusts, charities, companies and pensions as well as collective investment schemes. We have offices in London, Edinburgh, Guernsey, Paris and New York. Ruffer is regulated by the Financial Conduct Authority (FCA) in the UK.

Core objective of the role:

As directed by the Operations Processing Manager and the Settlements Supervisor, the Settlements Analyst will hold day-to-day responsibility for Affirmation and Settlement within Ruffer. This will include, but will not be limited to, the following core responsibilities:

Role summary - key tasks
  1. Equities and Bonds Matching
  • CTM Matching
    Ensuring CTM is monitored throughout the day with any discrepancies in Trade financials and Failed Settlement Notification to the custodian are resolved within Market, FX cut offs and Custodian SLA.
  • Non-CTM Matching
    Ensuring Manual confirmations are chased and received from counterparties for matching, Trade notifications should be instructed to Custody via their specific notification process within Market, FX cut offs and Custodian SLA. The successful candidate must be able to manage expectations and keep the Operations Processing Manager fully aware of ongoing progress, priorities, risks and issues
  1. CIS Matching
  • Calastone
    Ensuring all booked trades on Symphony are matched where possible and are instructed to Custody via their specific notification process when confirmation available.
  • Non Calastone
    Ensuring contract notes are chased at the UTM/TA or custodian and the trade matched where possible. Instructions should be sent to Custody via their specific notification process when confirmation available.
  • Fund Switches
    Processing all Fund Switch instructions on Ruffer systems and at Custodian via Custodian specific notification method. Ensuring the movements settle in reasonable timeframe.
  1. FX Matching
  • Ensuring any unmatched or mismatched FX trades on GTSS are resolved. All Trades requiring FX are enriched with relevant FX rates on the day processed. Ensuring all FX FWDs are processed on Trade Date.
  • Co-ordinating NET settlement on Forward FX positions by processing cash transfers between FX counterparts.
  1. Failed Trade Management
  • Ensuring all failed trade reports are received and reviewed daily. Taking appropriate action to resolve issues and prevent from further delays to settlement. Escalating any problematic trades. Identifying recurring problems and take steps to prevent.
  1. Additional Tasks will include but not limited to:
  • Placing and IPO Processing -

Ensure all Placing and IPO requests are processed and returned to the broker within set timeframe indicated on the placing letter. All custodian instructions should be sent via specific notification process.
  • Broker Liaison

Responsibility for operational relationship with Brokers.Day to day relationship management and initial escalation of issues relating to settlements.Monitor issues and log in order to facilitate MI stats to assist in broker management.

Skills, knowledge, experience, and qualifications
  • 3+ years' experience working within a similar operations role ideally within Investment Management
  • Knowledge and understanding of: DTCC CTM / ALERT / Benchmarks, Calastone, GTSS Trade Nexus, GFP/MFEX, IRESS - Pulse/Symphony, Interactive Data.
  • Maintain high standards of diligence and accuracy at all times.
  • Ability to adopt best working practices.
  • Absolute focus on client service, including awareness of cultural differences in working practices.
  • Good standard of oral and written communication
  • High standard of IT literacy (MS Office, especially Word, PowerPoint, Excel)
  • Strong attention to detail


We aim to deliver positive returns come rain or shine. If we are to be good all-weather investors, we cannot be dependent on the direction of markets. To avoid that dependency, we always hold investments in what we call growth and protection. We hold these alongside each other, changing the allocation to each over time. When the market sun shines, we expect our growth assets to prosper. When a market storm hits, our protective assets should provide shelter, defending the portfolio from a downturn. At Ruffer, we are committed to being good stewards of our clients' assets. To that end, environmental, social and governance (ESG) issues are fully integrated into our investment process. Whether it's climate change or indigenous rights, executive pay or workforce safety, we believe our considered approach helps us make better decisions. To the advantage of our clients' portfolios. To the benefit of the companies we invest in. And for the good of the environment and society.

Diversity, Equality & Inclusion

Ruffer strives for a diverse and inclusive workplace where our staff respect and understand individual differences. To create a truly inclusive culture, we aim to recruit, develop, and retain diverse talent and we positively encourage applications from suitably qualified and eligible candidates regardless of age, disability, gender reassignment, marital or civil partner status, pregnancy or maternity, race or ethnicity, religion or belief, sex, or sexual orientation.

Ruffer operates a 60:40 hybrid working policy, 60% of working time from the office and the option to work the remaining 40% from the office or at home.

Please note this role is based in our London office and as such you must have the Right to Work in the UK.

Ruffer operates a strict agency PSL and we do not accept speculative agency submissions.