Senior Officer, FABS Operations

Role Overview

Senior Officer, FABS Operations at First Abu Dhabi Bank, based in Abu Dhabi. The role ensures operational activities are executed effectively in compliance with FAB and regulatory requirements, managing securities, cash, and settlement processes across domestic and international markets.

Role Purpose

Oversee the effective execution of FABS operational activities with strict adherence to FAB and regulatory requirements. Manage the timely receipt and processing of securities and cash, identify and communicate operational risks, and support departmental projects and policy development to safeguard the integrity of brokerage operations and client relationships.

Key Responsibilities

Risk Management & Controls

• Ensure proper controls and procedures are in place to mitigate business and operational risk.
• Minimize risk by ensuring accurate and timely completion of brokerage operational functions in terms of settlements.
• Possess a thorough and methodical approach to the accurate authorization of processing.
• Identify, analyze and communicate potential operational risk from daily security and cash functions, including funds transfer and discrepancies in data.
• Escalate problems which could have significant impact on daily operations or adversely affect FABS business cycle and clients' relations.
• Ensure appropriate decisions and escalation of critical issues resulting in the safeguarding of FABS processes.

Trade & Settlement Processing

• Perform transactional processing to ensure trades are appropriately captured for operational, settlement and reconciliation purposes.
• Responsible for the accurate review and resolution of clients' trades and portfolios on Trade Date (T+0) by effectively communicating issues with Operations Specialist, Customer Service Representatives and internal traders.
• Send out executed trade confirmations to all HNW and Institutional clients.
• Preparation of account and market opening documentation and other related documents (LOAs, POAs, Market Maintenance and other KYC documents) to ensure clients' readiness for investment.
• Update Clients' personal and trading information in the brokerage system and reconcile all changes with the Client's Maintenance record in the markets system.
• Link FAB client bank account with the client trading account for settlement purposes.

Reconciliation & Reporting

• Prepare, analyze and review various weekly and monthly reconciliation including corporate actions and clients' portfolio reconciliation.
• Prepare management, Compliance and Risk reports and any other special requests.
• Review and ensure the timely delivery of securities reports to the Markets and FABS Management in accordance with internal process and policy.
• Monitor and report Margin Coverage Ratio of clients to Management and regulators.
• Update the Margin Security Concentrated Percentage to match the Risk Approved Securities List.
• Daily monitoring and reporting of clients granted access limit, reflecting the client position and portfolio coverage, highlighting all risky clients and taking necessary actions to minimize all risk aspects.

Client & Stakeholder Management

• Participate in the development and maintenance of relationships with all FABS Departments and other stakeholders.
• Provide ongoing support to all business internal and external stakeholders and HNWI, Retail and Institutional Clients.
• Review clients' risk rating and FATCA documents, ensuring that provided details are updated and amended in the brokerage system.
• Define and categorize clients availing facilities from FAB branches, CBG and Private Banking unit and monitor the settlement of executed trades to be in position with FABS undertaking letters.

Compliance & Regulatory

• Maintain an up-to-date FAB Securities Staff and Relatives Trading Details and report daily executed trades for regular and margin trading to comply with SCA rules and regulations.
• Possess in-depth understanding of SCA and markets rules and regulations.

Operations & Document Management

• Perform safe custody control over FABS critical and vital documents.
• Support and actively participate in job-rotation.
• Participate in departmental projects and assist with development and review for new and/or changes to departmental policies and procedures.
• Execute all accountabilities of the role with the ability to work under pressure, managing workloads and time efficiently to meet stringent deadlines and high flexibility with respect to working hours.

General

• Perform any other duties assigned by the line manager.

Qualifications & Experience

• Bachelor's degree in Business Administration with thorough knowledge of procedures in the share market, operations processes and computer systems in place.
• Five or more years' relevant experience in the financial services industry: Brokerage, Equity, Investment and Financial Markets.
• In-depth understanding of SCA and markets rules and regulations.
• Strong working knowledge of local and international markets products and services.

Skills & Competencies

• Ability to raise and escalate critical issues to ensure solid action plans are developed to resolve daily operational issues and problems.
• Ability to plan out and prioritize work, accurately manage and communicate status and meet agreed upon schedule.
• Ability to work under pressure, managing workloads and time efficiently to meet stringent deadlines.
• High flexibility with respect to working hours to execute all accountabilities of the role to a satisfactory standard.
• Excellent interpersonal and relationship management skills.