Settlements Officer - Custody Operation

Organization Unit Purpose

EMCAP PSC (Custody), in partnership with a Global Custodian, will be offering securities related services including local and international custody. Candidate will provide operational support to Internal & External stakeholders. Adherence to Rules and Regulations from the Regulators (i.e. SCA, DFSA); Markets (i.e. DFM, ADX, NASDAQ DUBAI, DGCX), ensure compliance with ENBD policies and procedures as well as underlying SLAs / Agreements / SLAs with affiliated and non-affiliated TMs.


Job Purpose

  • Ensure accurate and timely processing of all operational and settlement function across all relevant Markets
  • Improve operations service levels by effective coordination with internal & external stake holders on all operational tasks
  • Ensure all accounts are reconciled, support in audit requirements and any finance related task.


Job Content

Settlement Processing

  • Manage matching of client instructions with broker contracts and market files.
  • Manage rejection of alleged transactions that do not have client instructions and follow up processes with counterparties and markets.
  • Prepare and manage Payment Process, including review and authorization of payments as needed
  • Prepare and manage Fee calculation and Billing process
  • Monitor released vouchers to ensure timely and accurate payments processing before cut off timings


Operation Processing

  • Manage custody trading, portfolio and cash management process for custody clients;
  • Monitor and update all corporate action events in custody system
  • Ensure corporate action notifications are sent to clients.
  • Process all corporate action instructions and monitor dividend in securities and or cash
  • Provide initial response/ resolve routine operations related queries received by email.
  • Monitor operation group mailbox & escalate emails when required.


Reporting

  • Manage custody reporting and reconciliation process for custody clients
  • SCA Monthly report preparation
  • Monthly reporting of various submissions such as tax invoice preparation


Finance

  • Ensure all accounts are reconciled, support in audit requirements and any finance related task.


Monitoring system related issues & coordination with IT support

  • Attending to system issues in coordination with IT, logging call in remedy & ensuring the issues are resolved appropriately.


Customer Satisfaction & Complaint Resolution

  • Liaise with stakeholder management to ensure operational queries are processed / referred to relevant parties & escalated to supervisor when required
  • Investigate and resolve customer complaints relating operational matters & escalate when required


Projects/Initiatives

  • Ensure valuable input to new and ongoing activities
  • Identify processes for improvement and automation in the relevant work area


Support & Back Up as assigned

  • Act as back up for other team members when assigned
  • Ensure adherence to task lists as per the assignments
  • Support in any other task assigned by the Head of Custody Operations


Education

  • Bachelor’s degree
  • Professional examination


Experiences

  • 3 years of experience in in related field


Knowledge & Skills

  • Regulatory framework background, with a good understanding of UAE regulatory environment/ banking/ financial regulations and regimes
  • Good understanding of various instruments traded in Capital Market
  • Should have experience in managing Settlement functions of a custodian
  • Key account Management techniques, proper understanding on operation and customers’ need
  • Have fair knowledge of compliance requirements of a custodian
  • Reasonable understanding of tax provisions relating to custodial business
  • Strong analytical and problem-solving skills, with ability to assess existing processes and identify required actions


Behavioral Competencies

  • Maintain strong relation with staff and customer
  • Pro-active customer service (internal and external customers)
  • Need to interact with multiple teams internal and external in completing the desired tasks
Post date: 11 September 2024
Publisher: LinkedIn
Post date: 11 September 2024
Publisher: LinkedIn