Assistan Manager - FX/MM Settlements.Injaz - FX/ MM Settlements.Operations Group

Role Overview

Assistant Manager - FX/MM Settlements at Mashreq, Operations Group, reporting to the Injaz - FX/MM Settlements team.

Role Purpose

Oversee the validation, settlement, and reconciliation of Foreign Exchange and Money Market products, ensuring accurate trade processing, timely payments, counterparty compliance, and zero operational loss across all settlement activities.

Key Responsibilities

Trade Validation & Processing

• Validate and confirm Foreign Exchange and Money Market products.
• Perform trade validation of FX and Money Market trades.
• Validate all Islamic Murabaha, Wakala, and Reverse Murabaha trade validations and documentation along with commodity execution.
• Process daily commodity transactions, settlements, and confirmations.
• Process FX transactions of DVP (delivery vs payment) customers by ensuring funds are received before other currency funds are paid out.

Settlement & Confirmation

• Ensure SSI is rightly updated and complete all payments as per the currency cutoff.
• Validate all payments related to Foreign Exchange are made on correct Value Date.
• Perform Money Market Cashflow Monitoring, Daily Settlements, and confirmation matching.
• Ensure full control across all products including settlements, confirmation, and payments.
• Perform control checks on the deal flows between T24 and DealHub.
• Process UAEFTS payments on a daily basis and monitor the payments.

Payment Reconciliation & Monitoring

• Perform daily payment reconciliation between booking systems and payment gateway.
• Monitor daily Cashflow and Payments.
• Monitor Nostro Outstanding items daily and follow up with counterparty for delayed payments.
• Check all Transmission Copies of Payments and Receipt Messages to ensure that all messages are transmitted on time.
• Ensure margin funds received from DVP customers specific to a deal are placed internally and tracked.

Counterparty & Compliance Management

• Monitor CP conditions for corporate customers related to FX trades.
• Manage gold swap product transactions executed with DGCX within specified cutoff timing.

Control & Risk

• Ensure zero operation loss.

Skills & Competencies

• Sound knowledge of CLS trade settlement system.
• Sound knowledge of SWIFT MT103, MT202, MT300, MT320, and MT600 message types.
• Sound knowledge of MT300/MT320/MT600 confirmation along with knowledge on matching criteria.
• Sound knowledge of Treasury Accounting related to FX and Money Market products.
• Knowledge of Islamic Murabaha, Wakala, and Reverse Murabaha trade structures.
• Knowledge of commodity execution processes.