AVP & Manager- FXMM Settlements

Job Description

JOB PURPOSE:

• Supervise the MM/FX/Islamic Products Settlement Section to ensure correct and timely settlement of deals and prevent any loss of revenue and or penalties due to fail-pays and late receipts. And ensure documentation of all types of Treasury deals. Ensure that Treasury system (Murex) functionalities are performed and carried out as per Bank policies and procedures with special emphasize on straight through processing and automation.

Specific Accountability

• Ensure that proper authorization, processing and settlement of all deals captured in the system through Banks approved communication channels i.e. Reuters, Bloomberg, e-platforms or through approved brokers.
• Check all SSI forms being forwarded to RDG to ensure correctness of data
• Ensure that the counterparty confirmations, Swift MT 300 and MT 320 are matched with our records through Murex Matcher, Finastra system or through established manual process and ensure follow up procedure carried out to detect and rectify any mistakes which may result in additional costs to the Bank.
• Authorize payment messages ensuring deal details are matched in Murex Matcher and release them in time to meet the cut off times of different country zones.
• Authorize debit/credit advices to customers in Intellect to ensure that correct account, amount and value dates have been applied over accounts.
• Ensure that all the above processes are followed strictly for our Global entities e.g. NBAD London, NBAD Oman NBAD Hong Kong, NBAD Cayman etc.
• Check that Master Agreements have been signed with all Islamic Institutions/Banks with whom NBAD deal in Islamic Products and ensure that all requirements and formats stipulated in the Agreement are carried out while processing transactions.
• Track all failed payments/non-receipt and late receipt of funds and liaise with Investigations Dept. until matter is closed. Ensure timely follow up of all cases and settle compensation receipts/payments ensuring compliance and reporting procedures are met with.
• Supervise the daily attendance, evening and holiday shifts on a rotation basis to ensure that the desks are fully covered at all times and arrange annual leave plans for the team
• Co-operate with Audit and provide them all documentation they ask for as soon as possible.
• Update SOP with any new/amended process
• Always act in coordination with the line manager for goals set for the section and work in close proximity with the team to ensure the objectives have been achieved by planning ahead
• Supervise the daily operations and ensures that the desk is fully covered throughout the day for BAU activities including holiday and shift basis.
• Ensure that all staff attend annual training which is a GMO/NBAD requirement
• Organize on-the-job training for new members of staff within the team and new GMO staff orientation
• Monitor staff attendance Taking part in any new project including user acceptance test, workflow and parallel run
• Conduct interview for new joiners
• Deputizing line manager when needed and any other responsibility entrusted by direct line manager

QualificationsMinimum Qualification

• University Graduate.
• Strong communicator at all levels.
• Team player.
• Understanding of the Treasury Products and its settlement characteristic and deadline in various time zones.
• Knowledge of Treasury systems

Minimum Experience5 years relevant experience in the banking sector with at least 5 years in similar positions of progressively increasing managerial responsibilities in the treasury function.

Keyskills :
Swift Treasury Murex Settlement

About Company

FAB, the UAE’s largest bank and one of the world’s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank’s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.