Settlements Officer

Job Description

The Arab Monetary Fund (AMF) is a regional financial organization headquartered in Abu Dhabi, United Arab Emirates, with the primary goal of establishing monetary foundations for Arab economic integration and accelerating economic development in Arab countries. Through this announcement, the Fund aims to recruit a Settlements Officer in the Finance Department. Key Responsibilities:The successful candidates will take on a large range of responsibilities, including:Transactions Settlement:

• Settle financial transactions in an accurate and timely manner, including payments, securities, and derivatives.
• Reconcile settled transactions accurately and resolve any discrepancies between trading and ledger systems, in coordination with the Settlements Division Chief.
• Ensure data completeness and adequacy of supporting documents for investment transactions.
• Follow-up all investment dues on time and transfer from sending account to the safe account in coordination with the investment department.
• Track and escalate to department director in case of differences or issues related to the contractual terms with the correspondent banks.
• Send outgoing trades confirmations for all Treasury transactions and match them against the incoming confirmations received from the counterparties.
• Execute payments and receipt instructions automatically through the settlements system within specified timeframes.
• Monitor the collateral activity of all active CSA contracts on a daily basis and liaise with the Treasury and Direct Investment Division regarding the cash requirements.

Settlement System Management:

• Test the readiness of the backup operating system monthly in collaboration with the IT Division.
• Ensure smooth operations of the SWIFT system and effective communications with relevant organizational units according to guidelines.
• Enhance the performance of information systems related to settlement operations in coordination with specialized organizational units.

Compliance and Risk Management:

• Identify and assess risks associated with settlement processes and implement risk mitigation strategies, in coordination with the Settlements Division Chief.
• Ensure all settlements comply with financial regulations and standards

Business Process Management

• Contribute to the identification of improvements to the Division?s policies and implement procedures and controls covering all areas of activity so that all relevant procedural/regulatory requirements are fulfilled while delivering high quality and cost-effective results.
• Contribute to the identification of opportunities for continuous improvement of systems, processes and practices considering leading practices, improvement of business processes, cost reduction and productivity improvement.
• Conduct day-to-day activities in line with stipulated policies and procedures.
• Contribute to the identification of areas of strength/improvement in the divisions process manual and share recommendations with direct supervisor.

Stakeholder Management:

• Work and collaborate with relevant internal (e.g. departments/divisions) and external stakeholders (e.g. banks) in a manner that supports the achievement of the Accounts Division?s objectives.
• Actively gain exposure and insights to market developments, business opportunities and the existing regulatory landscape and leverage it to enhance stakeholder management capabilities, in line with AMF?s strategic objectives.

Additional Duties:

• This job description outlines the duties that are typically performed by the jobholder. These duties are not the only duties required by the job and management might assign additional duties from time to time.

Keyskills :