|Published||February 7, 2023|
|Expires||April 8, 2023|
|Location||Abu Dhabi, United Arab Emirates|
One FAB Tower, Abu Dhabi, United Arab Emirates
Sub Division: Group Operations
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To ensure that all Derivatives related transactions executed by the Global Markets department are successfully matched, validated, confirmed and settled within the agreed timeframes in the appropriate systems. To ensure that all life cycle events are captured, booked and instructed accurately. To monitor all breaks derived from the reconciliation report, to resolve them and to escalate where necessary.
Products handled by Derivatives team include:
IRS / Structured IRS
Cross Currency Swaps
Exchange Traded Futures & Options
TARF / TARN
Total Return Swaps
Credit Default Swaps
Duel Currency Deposits
Commodity Options, Swaps & Spreads
Cap / Floors / FRA
Provide guidance and on the job training for junior colleagues and conduct knowledge sharing to facilitate achievement of team objectives and completion of tasks in an efficient manner which is consistent with operating procedures and policy.
Promote the organisation’s values and ethics in all activities within the team to support the establishment of a value drive culture within the bank.
Policies, Systems, Processes & Procedures
Provide inputs and implement policies, systems and procedure for the assigned team so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.
Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.
Prepare sectional statements and reports timely and accurately to meet FAB and department requirements, policies and quality standards.
Staff must be accountable for accurate and timely Validation, Confirmation, Matching & Settlement of all Derivatives traded by Global Markets team.
Staff must make informed and educated decisions about how to deal with the problems encountered, and must be aware of when it is necessary to escalate issues to management.
Staff will be required to regularly communicate, interact and problem solve with the Banks Global Markets clients who are sophisticated investors so it’s imperative they are professional, knowledgeable and take ownership of any issues whilst ensuring the client is kept informed at all times.
Staff will be required to service the Operational requirements for various international FAB offices, specifically but not limited to London, Hong Kong, Oman and Cayman Islands.
Staff should be aware of and adhere to any regulations as defined by the jurisdiction in operation.
The Validation & Confirmation of Global Market trades:
Ensure all Derivative transactions executed by the Global Markets trading team are validated within the agreed turnaround time within Murex.
Ensure all trade confirmations are sent to the Counterparties within the agreed turnaround time.
Follow up with any Counterparties who we have not received a confirmation from.
Track all confirmations that have not been signed and returned and escalate.
Report any booking discrepancies found between the trade recap or affirmation system and Murex to Global Markets in a timely fashion.
The Settlements of the Global Market trades:
Ensure all settlements booked in Murex are agreed with the counterparty via the pre-settlement procedure before the agreed value date.
Ensure all settlements are processed on or before value date & to the correct SSIs.
Follow up with the Counterparties for any non receipts.
Help in resolving all reconciliation issues.
Report & highlight all risk factors identified.
Strict adherence to the bank Policies & Procedures
Support the department in business development projects where requested
Ensure that all processes are documented in the relevant SOP and that they are kept up to date.
Ensure all KRIs reports are updated daily.
Ensure that all reporting requirements are adhered to.
Bachelor’s degree in Business, Accounting or related discipline.
5 years’ relevant experience in the banking sector with at least 2 years in similar positions of progressively increasing responsibilities in an Operations function.