Specialist, Asset Services (Al Ain)
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Key skills for this role
About the Role
First Abu Dhabi Bank (FAB) seeks a Specialist in Asset Services to handle corporate actions processing for domestic and international markets. The role involves monitoring announcements, reconciling positions, and ensuring timely processing of mandatory and voluntary corporate actions.
Key Skills for This Role
Responsibilities
- Monitor and process Corporate Actions for domestic, regional, and international markets covering equities, mutual funds, fixed income, hedge funds, structured funds, and ETFs
- Receive market/sub custodian announcements, scrub/compare data, and notify clients of corporate action events
- Reconcile client positions with sub custodians and markets, monitor posting of accruals and entitlements
- Solicit and receive client responses for voluntary events and submit instructions to sub custodians/markets/agents before deadlines
- Communicate with clients, counterparties, markets, sub custodians, regulators, and other entities regarding corporate actions
- Provide first level training for new specialists and assist in handling inquiries
- Participate in section related projects such as system upgrades, processing enhancements, and off hours testing
- Ensure adherence to quality control measures and procedures
Requirements
- University Graduate / bachelor’s degree (or 5 years related work experience)
- 5+ years related experience in security services and/or back office operations e.g. managing corporate actions / securities settlements
- Solid understanding of security services and operations and accounting activity related to security services
- Ability to work under pressure, prioritize, and manage several tasks at the same time
- Team oriented and ability to work under pressure
- Ability to achieve business objectives without compromising controls and risk parameters
- Strong execution skills in a multi tasking mode and follow up effectively
- High level of accuracy and attention to detail and excellent team working skills
Full Job Posting
Job Description
- Responsible for daily monitoring and processing of Corporate Actions processes covering Domestic and Regional and International Market for both mandatory and voluntary specific corporate actions functions of diverse products like equities mutual funds, fixed income, hedge fund, structured funds, ETF
- Responsible for handling moderately intricate to extremely complex corporate action events across Local, Regional, International Markets.
Key Responsibilities
- Processing responsibilities include the receipt of market / sub custodian announcements, the scrubbing/comparison of data, and the notification of corporate action events to client.
- Reconciliation of client positions with respective sub custodians and markets and monitors appropriate posting of accruals and entitlements to client accounts.
- For all voluntary events is responsible for soliciting and receiving responses from the clients and for submitting these instructions to the respective sub custodians / markets / agents / processing bank prior to their deadline dates.
- Communicate with many entities Clients, Counter parties, Markets, Sub Custodians, Regulators, Companies, Brokers, Paying Agents, Issuers covering Local, Regional, Global Markets, related to corporate actions process, support Due Diligence visits linking to corporate actions process.
- The incumbent is responsible for adhering to established quality control measures and procedures.
- Responsible to provide the first level training for new specialists and will assist specialists in handling inquiries.
- Active participation in understanding the Operating module, including Securities Lending and Borrowing transactions, that are large in value and complex in nature, ensuring their successful corporate actions processing, avoiding loss and penalties to the bank and clients.
- Specialist will participate in section related projects such as system upgrade / changes, processing enhancements and off hours system testing.
- Active participation in implementation of corporate actions processing related to new clients SLA and SLD, Sub Custodian SLA, New Functions, Products, Market Rules Regulations and Procedures with relevant controls.
- Tracking of other custodian's offering in line with International best practices with clear understanding of client's requirements.
- Responsible to coordinate and work with various internal departments and external entities and concerned persons as an integral part related to participation in Projects.
Minimum Qualification
- University Graduate / bachelor’s degree (or 5 years related work experience)
Minimum Experience
- 5+ years related experience in security services and / or back office operations e.g. managing corporate actions / securities settlements
- Solid understanding of security services and operations and accounting activity related to security services
- Ability to work under pressure, to priorities and to manage several tasks at the same time
- Team oriented and ability to work under pressure
- Ability to achieve business objectives without compromising controls and risk parameters established
- Strong execution skills in a multi tasking mode and follow up effectively
- Self starter with excellent attitude, communication and interpersonal skills
- High level of accuracy & attention to detail and excellent team working skills
- Specific experience in Securities related functions e.g. Client Services, Corporate Actions, Settlement, Data Maintenance & Billing or Custody Account Opening will be an added advantage
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.
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