29 March 2022
ABN AMRO Clearing Bank is surprisingly inconspicuous. A few floors, a few hundred people: in Amsterdam's Zuidas (the city's financial district), you barely notice them – especially since clearing doesn't mean anything to most people. They even joke about it at ABN AMRO: 'Clearing... are they the cleaners?'
But things are a little different in reality. There is a good chance that you are indirectly involved with ABN AMRO Clearing. Your savings bank might clear its investments with us or your insurance company or pension fund might work in close collaboration with us. As the third largest in its category worldwide, ABN AMRO Clearing is closely involved in the daily activities of millions of people. It also has a pleasant working environment that provides plenty of space for innovative ideas and young talent.
What is clearing?
If you have never heard of ABN AMRO Clearing, that's because our work takes place behind the scenes of the financial world. Often called 'the plumbers of the financial markets', clearing banks are an important link in the investment market between buyer, seller and stock exchange. The trading parties remain anonymous to each other, but they do want to know whether the other party is going to fulfil its delivery obligation or payment obligation. Clearing banks such as ABN AMRO Clearing ensure that clients meet the obligations they entered into when they joined the stock exchange. This allows investors to focus on making good investment decisions without worrying about settling transactions.
Analysing and avoiding risks
Nowadays, anyone can easily invest in shares on their own without help and without having to read up on extensive risk analysis. But ABN AMRO Clearing does not target these adventurous savers. Clients are professional parties such as market makers, hedge funds and pension funds that invest large sums of money and have strict risk management policies. They have much to consider: from international sanctions to pollutant industries, from money laundering to terrorist organisations. The bank helps clients understand those risks so that they can factor them into their investment policies.
A small company that does important work
ABN AMRO Clearing is at the heart of the global financial markets. After completing my studies in Germany and Ireland, I joined ABN AMRO Clearing as a trainee. But when I first arrived here, I had pictured a different atmosphere. However, it's not hyper-competitive or impersonal. Everyone knows each other and works well together. If I want to pitch a good idea, I can go straight to the senior management team. Maintaining a healthy work-life balance is also very much encouraged.
Nevertheless, it is still a very demanding role. There are lots of aspects involved in providing clients with good service, using information that is often not readily available. Clearing is also strictly controlled: it is very difficult for banks to obtain and maintain a licence.
Continuous development
The financial world is rapidly evolving. Besides major financial institutions, start-ups with bright ideas create a constant pressure to innovate. ABN AMRO Clearing wants to be the best of both worlds: a large, key player in the clearing sector that is always on the lookout for new ways to innovate. That is why our employees have lots of different backgrounds, contributing new mindsets and perspectives – and therefore solutions. Nowadays, there is a great deal of focus on sustainability: we help our clients gain information and ideas so that their transactions, which are intended as green investments, end up in the right places.
Living and working in Amsterdam
ABN AMRO Clearing is an international bank with a diverse team. A diverse workplace not only excels in its innovative power – it is also a fun atmosphere! My mother in Germany was surprised when I told her that enjoying a beer together after work on a Friday is quite normal here. It's a cultural difference: people do work hard in the Netherlands, but in a way that is enjoyable. In the Netherlands, we are direct, motivated and flexible. We want to get things done, but if your child is unwell you can go home a little earlier. Banks across the world could learn a lot from that.
