Senior Officer- FAB Operations

Job Description

• To ensure that the Operational activities are executed in an effective manner meeting all FAB and regulators rules and requirements.
• Ensure timely receipt of securities and cash through management, control, and analysis of Domestic/International market practices. Functions include trade status and administration, settlements, and fund transfer processing.
• Identify, analyse and communicate potential operational risk from daily security and cash functions, including funds transfer and discrepancies in data to ensure elimination of all business risks associated.
• Participate in departmental projects and assist with development and review for new and /or changes to departmental policies and procedures

Responsibilities and Risk Management :

• Ensuring that the proper controls and procedures are in place to mitigate business and operational risk. The operations senior officer will minimize risk by ensuring the accurate and timely completion of Brokerage Operational Functions in terms of settlements.
• The senior Operations Officer will also participate in the development and maintenance of relationships with all FABS Departments and other stakeholders

Expected Team Contribution

• This role is crucial to the business and requires excellent interpersonal and relationship management skills. The senior Operations officer will be responsible for supporting all aspects of asset servicing, reporting and support in the daily recordkeeping and accounting process.
• Must possess a thorough and methodical approach to the accurate authorization of the processing.
• Must possess the ability to work under pressure, managing workloads and time efficiently to meet stringent deadlines and must be highly flexible with respect to working hours in order to execute all accountabilities of the role to a satisfactory standard.
• Support and actively participate in job-rotation.

Specific Accountability

• Preparation of account and market opening documentation and other related documents (LOAs, POAs, market maintenance and other KYC documents) to ensure clients readiness for investment.
• Review and ensure the timely delivery of securities reports to the markets and FABs management in accordance with the internal process and policy.
• Responsible for the accurate review and resolution of clients trades and portfolios on the trade date by effectively communicating issues with the operations specialist, customer service representatives and internal traders.
• Responsible for preparing, analysing and reviewing various weekly/monthly reconciliation (e.g. corporate actions, clients portfolio reconciliation) and management, compliance and risk reports, and any other special requests.
• Updating clients personal and trading information in the brokerage system and reconciling all changes with the clients maintenance record in the markets system and linking FAB client bank account with the client trading account for settlement purposes.
• Provide on-going support to all business internal/external stakeholders and HNWI, retail and institutional clients.
• Review clients risk rating and FATCA documents, ensuring that provided details are updated and amended in the brokerage system.
• Monitoring, reporting margin coverage ratio of clients to management and regulators and updating the margin security concentrated percentage to match the risk approved securities list.
• Identify, analyse and communicate potential risk from daily security and cash functions, including funds transfer and discrepancies in data.
• Escalate problems which could have significant impact on daily operations and/or could adversely affect FABs business cycle and clients relations. Requires appropriate decisions and escalation of critical issues resulting in the safeguarding of fabs processes.
• Perform transactional processing to ensure trades are appropriately captured for operational, settlement and reconciliation purposes, and send out executed trade confirmations to all HNW and Institutional clients.
• Participate in departmental projects and assist with development and review for new/and for changes to departmental policies and procedures.
• Perform safe custody control over FABs critical / vital documents.
• Maintaining an up-to-date FAB securities staff and relatives trading details and reporting daily executed trades for regular and margin trading to comply with SCA rules and regulations.
• Daily monitoring and reporting clients granted access limit, reflecting the client position and portfolio coverage, highlighting all risky clients and taking the necessary actions to minimize all risk aspects.
• Defining and categorizing clients availing facilities from FAB branches, CBG and private banking unit and monitoring the settlement of the executed trades to be in position with FABs undertaking letters.
• Any other duties assigned by the line manager.

QualificationsA bachelor graduate with thorough knowledge of the procedures in the share market, operations processes and computer systems in place.Minimum Experience

• Five (5+) years experience in financial services industry: (Brokerage, Equity, Investment and Financial markets).
• Possesses an in depth understanding of SCA and markets rules and regulations
• Must possess extensive experience within an analytical role.
• Must have the ability to raise and escalate critical issues to ensure that a solid action plan is developed to resolve daily operational issues/problems. Ability to plan out and prioritize work, accurately manage and communicate status and meet agreed upon schedule /deadlines
• Strong working knowledge of local markets products and services.

Keyskills :

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.