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Officer ? Operations & Settlements

1.00 to 10.00 Years   Al Kuwait, Kuwait   10 Sep, 2024
Confidential Company
1 Jobs Openings
Job LocationAl Kuwait, Kuwait
EducationNot Mentioned
SalaryNot Mentioned
IndustryFinancial Services
Functional AreaNot Mentioned

Job Description

The Officer ? Operations & Settlements will be responsible for overseeing and managing the operations and settlement functions related to the company?s financing and investment activities. This role involves ensuring compliance with regulatory authorities, supporting various departments, managing customer accounts, and minimizing associated risks. The ideal candidate will possess strong organizational and leadership skills, with a deep understanding of financial and credit services, and relevant experience in settlements, operations, and asset management.Key Responsibilities:Operational Support & Efficiency:

  • Review and follow up on all financing and investment activities to enhance service efficiency.
  • Manage customer accounts, ensuring accurate record-keeping and smooth operations.
  • Provide end-to-end support for departments regarding financing/investment arrangements.
  • Review contract details, securing favorable terms and guarantees for the company.
  • Supervise property valuation activities, working closely with real estate experts.
Compliance & Regulatory Oversight:
  • Review and update the Operations and Settlement Management Policies and Procedures Manual every three years, ensuring compliance with regulatory authorities.
  • Ensure adherence to the Capital Markets Authority (CMA) and anti-money laundering regulations.
  • Verify that all required documents are received, compliant with policies, and align with regulatory requirements.
Risk Management:
  • Develop systems for support, monitoring, and settlement services for financing and investment transactions, minimizing risks such as default, transaction, and reputational risks.
  • Ensure the creditworthiness of customers and obtain necessary approvals for transactions.
  • Review guarantees and ensure approvals are obtained for exceptions, as per the authority matrix.
Settlement & Debt Management:
  • Approve settlement details, reschedule debts, and process bad debt settlements.
  • Monitor client debt settlements and prepare monthly reports on collections, rescheduling, and write-offs.
  • Prepare financial statements related to financing and investment transactions and discuss variances with the CEO regularly.
Coordination & Reporting:
  • Coordinate with the Finance and Investment Department on fund flow matters and suggest corrective actions for deviations.
  • Supervise customer account management, transaction reconciliations, and reporting.
  • Prepare quarterly reports comparing financing and investment portfolio performance year-on-year.
  • Inform senior management on the performance of operations and settlements and address any issues.
Risk Assessment & Training:
  • Collaborate with the Risk Officer to assess and mitigate risks related to management and customers.
  • Provide ongoing guidance and training to staff on operational and settlement procedures to safeguard the company?s interests.
Government & External Relations:
  • Maintain close relationships with government agencies and private institutions related to the companys business.

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