Requirements
Requires a business administration bachelor's degree and over 5 years of relevant experience in financial services, specifically in brokerage, equity, investment, and financial markets. Must have a thorough understanding of SCA and market rules and regulations, with strong abilities in problem-solving, time management, communication, and relationship management. The role demands the ability to work under pressure, meet stringent deadlines, and be flexible with working hours.
Description
Job description / Role
Job Type
Full Time
Job Location
Abu Dhabi, UAE
Nationality
Any Nationality
Salary
Not Specified
Gender
Not Specified
Arabic Fluency
Not Specified
Job Function
Accounting & Audit
Company Industry
Finance, Investment & Asset Management
Job summary
Ensure that operational activities are executed effectively in compliance with FAB and regulatory requirements. Ensure timely receipt of securities and cash through management, control and analysis of domestic/international market practices including trade administration, settlements and fund transfer processing. Identify, analyse and communicate operational risks from daily security and cash functions. Participate in departmental projects and policy/procedure development and review.
Key responsibilities
Ensuring that the proper controls and procedures are in place to mitigate business and operational risk. The Operations Officer will minimize risk by ensuring the accurate and timely completion of brokerage operational functions in terms of settlements. The Sr. Operations Officer will also participate in the development and maintenance of relationships with all FABS departments and other stakeholders. This role is crucial to business and requires excellent interpersonal and relationship management skills.
The Sr. 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.
Preparation of account and market opening documentation and other related documents (LOA's, POA's, 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 trade date (T+0) by effectively communicating issues with operations specialist, customer service representatives and internal traders. Responsible for preparing, analyzing 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 client's 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, analyze and communicate potential operational 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/or 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.
Requirements / qualifications
A business administration bachelor graduate with thorough knowledge of the procedures in the share market, operations processes and computer system in place. (5+) years' relevant experience in the financial services industry: (brokerage, equity, investment and financial markets). Possesses an in depth understanding of SCA and markets rules and regulations.
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. 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. Strong working knowledge of local and international markets products and services.
About us
First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. We offer a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. Our commitment to excellence and innovation drives us to provide top-tier financial solutions to our clients.
Life at FAB
Working at FAB means being part of a team of talented and passionate individuals with a shared vision to support the ambitions of our stakeholders to "Grow Stronger." We embrace the needs of our customers across the globe with a sense of responsibility and confidence driven by extensive expertise that can only be delivered by an ambitious world-class organization.
Career development
FAB offers unique career choices, a chance to innovate, craft solutions for the future, and express yourself in a performance-based culture that will unleash the best in you. Whether you are an experienced professional or just starting your career, FAB provides a range of learning and development initiatives to support all employees through training and skill development.
Our values
At FAB, we place our customers at the core of our activities, live our values each day in every way, celebrate achievements, and empower each other to deliver leading solutions. We have structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globally that rewards your hard work and dedication.
Join our team and be part of a journey to shape the future of banking.
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