VP- UAE Settlement - SSO Operation

Company Description

Join the UAE’s largest bank and one of the world’s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation. We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting & dynamic industry. 

Job Description

JOB PURPOSE:

• Responsible for building the  Global operational processes  settlement UAE with adequate controls covering diversified the  local , GCC , International Markets and products like equities mutual funds , fixed income, hedge fund , structured funds , ETF .
• Responsible for UAE SSO Settlement operation acting as Global custodian  , oversees   Egypt HUP   settlement activities and liaising with Egypt  AVP direct team  to deliver assigned task   ,  coordinate with KSA VP direct on delivering operational  processes .
• Responsible  on Monitoring the deliverables related processes of FAB MISR  Shared Service Centre (SSC)  custody operational processing activities in accordance with regulatory and compliance requirements, with an increased focus on accurate and timely execution to enhance the client experience.
• Oversees service delivery and the day-to-day operations of the Global Cusotdaion acctiivntes in UAE , Egypt ,  GCC ensuring that all standards are met and procedures are followed. Establishes priorities and schedules of main activities.
• Communicate with many entities Clients, Counter parties,  international Markets, Sub Custodians , Regulators, Companies, Brokers, Paying Agents, Issuers across Local, Regional, Globally, support Due Diligence visits, and understand complex processes and accordingly train the staffs for the same to ensure timely accurate processing and reengineer the process and redesign client delivery wherever necessary as per FAB  UAE  Global  custody business requirements.
• Building and implementation of  operational processes for the diversified Markets, to manage the expectation of FAB  GCF  Custody business, ensure delivering quality of services as per international standards, using deep industry knowledge to create solutions to manage the complexity of the products and services being offered with par excellence.
• Responsible for running UAE Global custody  services and oversee  SSO Egypt Hup as expansion of GCF  custody business  , considering processes  are large in value and complex in nature, ensuring successful processing, avoiding loss and penalties to the bank and clients that could cause the bank’s Reputational, Financial and Operational Risk.
• Responsible to ensure all client’s ( institutional and Global bank custodian ) Onboarding  processes and queries address to  FAB UAE  custody operations  and GCC direct , International Market have been responded within stipulated timeline.
• Responsible for understanding the designed  process maps for FAB UAE , Egypt Hup  in capacity as Global  Custody operation meet the business explanation and aligned with regulatory and compliance for licensed entities across GCC being direct .
• Responsible for managing team, handling their appraisal and identifying training needed for each team members.
• Supported operationally the critical management decision related to client of FAB UAE , GCC custody  operations  on boarding and new system implementation and man management and tracking processing errors and analysing, reporting and putting control for the same and improving STP and efficiency in processes
• Responsible for FAB UAE Global  Custody Department: Position Management, Security/Cash Settlement, , Reporting, Invoicing, Reconciliation, Swift, Market Security Movement, Cash Management, , FX , billing , Income Management as per agreed SLA with GCF securities services  team
• Responsible in delivering BRD  supported  system changes and upgrade, new clients SLA and SLD, Sub Custodian SLA, New Functions, Products, Market Rules Regulations and Procedures and Reengineer and Design and implement FAB UAE  operational process to meet the requirements of running multitenant Custody  system  across UAE as  services provider beign a Global Custodian , implantation of  procedure and train the team for highest level of client delivery.
• Responsible for managing, training, guiding FAB MISR  HUP  operation team with the market / system changes, rules, regulations and continuous mentoring and motivating each staff to work on their strength as well as weakness for their personal growth and career in line FAB’s talent management.
• Ability to coordinate and work with various internal departments within FAB MISR HUP ,KSA FAB capital , GCC direct    to deliver  the process for excellence client delivery .

Job Context:

• Team Lead in UAE  , EGPET HUP  for the end to end operational processing activity  in relation to settlement  - Custody Operations processes in accordance with regulatory and compliance requirements across UAE GCC International market , with an increased focus on accurate and timely execution to enhance the client experience.
• Ensure that the services provided to internal and external clients comply with FAB policies and the relevant laws and regulations and that FAB UAE , GCC  Custody  settlement and client reporting Operations team responds to changes in an appropriate manner and timeframe
• Mentor and guide and motivate team staff of UAE , Egypt HUP   custody operations on all aspects of changes and process Re-engineering agreed with GCF SS  team .
• Responsible for ensuring having a strong relationship between FAB MISR  Custody Operations and UAE SSO  to deliver services  to stakeholders like Markets, Sub Custodians, Agents, Companies, Depositories, Brokers, Issuers to achieve FAB UAE Custody Global  Operations business objectives, to deliver highest level of service to the clients in capacity as shared services .
• Take appropriate action to ensure the completion of FAB UAE ,  MISR  custody operations related process , system enhancements in accordance with FAB GCF SS business objectives.
• Deliver Services of agreed scope with   UAE CGF  intra-country GCC direct market   ,  in relation to  settlement and client reporting  in   GCC  market  Monitor process and ensure timeliness and accuracy of processing, building Client & Static Data Maintenance Billing: Ensure  Settlement  , Data Maintenance, Reporting and Billing is handled.
• FX , cash management : supported assigned process by UAE SSO   ensure timeliness and accuracy of processing.  Responsible to resolve any settlement issues / discrepancies. If necessary, escalate to SVP UAE SSO .
• MIS:  Responsible to produce MIS reports for the section and submit to SVP UAE SSO .
• Reporting: Ensure all reporting is being produced and released timely and accurately.
• Reconciliation: Ensure and monitor that the reconciliation is completed timely and accurately and signing off on process.
• Ad Hoc Requests: Supporting the management OF  GCF SS business  as required for business as usual matters and projects and initiatives.  Coordinate with management and business with any issues in the section and responsible to coordinate matters relating to the division (i.e. changes in the market, changes to procedures).  Responsible for policies and procedures of the section.  Training of staff and managing new hires.
• Staff: Responsible for the morale and motivation of the section.  Providing on going feedback to team’s staffs including the appraisals and managing section staff annual leaves and back up plans.  Ensure all tasks for the team are completed timely and appropriately.
• Communication: With FAB UAE SSO , Egypt Hup   Management and GCF  Business via e-mail and phone, as well as counterparties and vendors.
• Risk Indicators: Responsible to ensure controls and procedures are being adhered to by the section.  Monitor all KPIs, KRIs.  Submit any incidents and issues to Manager for review.  Monitoring transactions to ensure they are being processed according to Compliance / Audit standards (requirements).

Qualifications

Minimum Qualification

University Graduate / Bachelor’s Degree ( 12  years related work experience)  in Global market Custody operation , market regulatory

 Minimum Experience

• 12+ years related experience in securities  services and / or back office operations eg managing client  / securities settlements
• Solid understanding of securities  services and operations and accounting activity related to securities services
• Ability to achieve business objectives without compromising controls and risk parameters established
• Strong execution skills in a multi-tasking mode and follow-up effectively
• Self-starter with excellent attitude, communication and interpersonal skills
• High level of accuracy & attention to detail.
• Ability to work under pressure, to prioritise and to manage several tasks at the same time and execellent team management.
• Excellent communication skills, both verbal and written (report writing, presentation and facilitation skills). Fluent in both English & Arabic languages.
• Specific experience in Securities related functions eg Client Services, Settlement, Data Maintenance & Billing or Custody Account Opening will be an added advantage