Specialist, Settlement Services (Al Ain)
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Key skills for this role
About the Role
First Abu Dhabi Bank is looking for a Specialist in Settlement Services to manage settlement processes for domestic and international markets. The role includes validating instructions, ensuring timely settlement, and reconciling positions.
Key Skills for This Role
Responsibilities
- Monitor and process settlement transactions for domestic, regional, and international markets covering equities, mutual funds, fixed income, hedge funds, structured funds, ETFs, and securities lending/borrowing.
- Receive client, market, and sub custodian instructions, validate correctness, and ensure matching and timely settlement.
- Communicate with clients, counterparties, markets, sub custodians, regulators, and other entities regarding settlement processes.
- Handle cash management for clients to facilitate smooth settlements across all markets.
- 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.
- Review and validate transactions inputted by officers, escalate mismatches, and ensure proper accounting entries.
- Reconcile client positions with sub custodians and markets daily, and escalate discrepancies.
Requirements
- University graduate / bachelor's degree or 5 years related work experience
- 5+ years related experience in security services and/or back office operations managing securities settlements/corporate actions
- Solid understanding of security services and operations and accounting activity related to security services
- Ability to work under pressure and prioritize multiple tasks
- Strong execution skills and follow up ability
- High level of accuracy and attention to detail
Full Job Posting
Key Responsibilities
- 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.
- 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 instructions in timely manner across all markets.
- Communicate with many entities Clients, Counter parties, Markets, Sub Custodians, Regulators, Companies, Brokers, Paying Agents, Issuers covering Local, Regional, Global Markets, related to settlement process.
- Handle the cash managements for the client to facilitate the smooth settlements across all markets.
- Active participation in understanding the Operating module, including Securities Lending and Borrowing transactions.
- Specialist will participate in section related projects such as system upgrade / changes, processing enhancements and off hours system testing.
- Active participation in implementation of Settlement processing related to new clients SLA and SLD, Sub Custodian SLA, New Functions, Products, Market Rules Regulations and Procedures.
- Ensure accurate and timely processing of client and client impacting instructions. Reconciling to confirm appropriate settlement of all transactions (FX, Cash, Securities, Corporate Action, Tax Reclaims).
- Managing transactions that are large in value and complex in nature, ensuring their successful settlement.
Minimum Qualification and Experience
- 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 prioritise 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
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