Specialist, Settlement Services (Al Ain)
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Key skills for this role
About the Role
First Abu Dhabi Bank is hiring a Settlement Services Specialist to handle complex settlement transactions for equities, mutual funds, fixed income, and securities lending across domestic, regional, and international markets.
Key Skills for This Role
Responsibilities
- Daily monitoring and processing of Settlement processes covering Domestic, Regional and International Markets for equities, mutual funds, fixed income, hedge fund, structured funds, ETF, Local and International Securities Lending and Borrowing, Local Market Short Selling
- Handle extremely complex settlement transactions across Local, Regional, International Markets including receipt of client, market / sub custodian instructions, validating correctness, ensuring matching and settlement in timely manner
- Communicate with clients, counterparties, markets, sub custodians, regulators, companies, brokers, paying agents, issuers related to settlement process
- Handle cash management for clients to facilitate smooth settlements across all markets
- Participate in section related projects such as system upgrade / changes, processing enhancements and off hours system testing
- Ensure accurate and timely processing of client and client impacting instructions, reconciling to confirm appropriate settlement of all transactions
- Manage transactions that are large in value and complex in nature, ensuring successful settlement, avoiding loss and penalties
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 securities settlements/corporate actions
- 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
- 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
Full Job Posting
Job Summary / Introduction
- Responsible for daily monitoring and processing of Settlement processes covering Domestic and Regional and International Market for equities, mutual funds, fixed income, hedge fund, structured funds, ETF, Local and International Securities Lending and Borrowing, Local Market Short Selling and ensuri
- Responsible for handling extremely complex settlement transaction across Local, Regional, International Markets. Processing responsibilities include the receipt of client, market / sub custodian instructions. Validating the correctness of all instructions. Ensuring the matching and settlement of ins
Key Responsibilities
- Responsible for daily monitoring and processing of Settlement processes covering Domestic, Regional and International Markets for products like equities mutual funds, fixed income, hedge fund, structured funds, ETF Local and International Securities Lending and Borrowing, Local Market Short Selling
- Responsible for handling extremely complex settlement transaction across Local, Regional, International Markets. Processing responsibilities include the receipt of client, market / sub custodian instructions. Validating the correctness of all instructions. Ensuring the matching and settlement of ins
- Ensure to track and respond to internal and external clients' queries by providing clear detailed Settlement information in line with the relevant market rules and regulations and Settlement best practice.
- Responsible for communicating with various stakeholders like Markets, Sub Custodians, Agents, Companies, Depositories, Brokers, Issuers to ensure smooth accurate timely Settlement processing.
- Ensure that all trade related statuses reports/Instructions are communicated to all stake holders in timely manners.
- Responsible to have excellent knowledge related to Settlements swift messages and usages of the same.
- Demonstrates reliability by taking necessary actions to continuously meet required deadlines and goals.
- Articulates information clearly and presents information effectively and confidently when working with others.
- Convince others by making a strong case, bringing others along to their viewpoint; maintains strong, trusting relationships while at the same time is comfortable challenging ideas.
- Participation in section related projects, system changes and upgrades and new client’s requirements and implementation of sub custodian / client SLA
- Review processes and suggest and implement changes to enhance client satisfaction and reduce manual intervention and reduce overall cost.
- Cash / FX Settlement: Review and validate all transactions inputted by the officer / another specialist. Escalate all mismatches to VP. Validate all data entered into the system and forward to VP for review. On settlement date of transaction ensure transaction settled and all appropriate accounting
Requirements / Qualifications
- 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 securities settlements/ corporate actions.
- 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.
Preferred / Beneficial
- Specific experience in Securities related functions e.g. Settlement, Client Services, Corporate Actions, Data Maintenance & Billing or Custody Account Opening will be an added advantage.
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