Director- Money Markets

Role Overview

Director of Money Markets at Mashreq, responsible for optimizing the Bank's Money Markets function operations across all locations including IBG and FI branches.

Role Purpose

Optimize the Bank's Money Markets function's operations across all locations to improve Net Interest Margin while adhering to Basel and other applicable regulatory requirements, as well as internal ALCO liquidity risk management policies and operationalizing Basel III's qualitative and quantitative requirements regarding liquidity risk management.

Key Responsibilities

UAE Money Markets and Treasury Functions

• Supervise allocation of the Bank's liquid assets' deployments and short-term borrowings on a bank-wide basis to maximize margins while remaining compliant with changing liquidity regulations and the Bank's internal liquidity risk management policies.
• Maximize UAE money book investment returns while maintaining sufficient liquidity to ensure seamless running of the Bank's operations and adherence to regulatory and ALCO/FC guidelines.
• Assist IBG and FI branches in managing excess liquidity and complying with regulatory standards by suggesting and booking trades that optimize regulatory ratios and Money book margins at both country and consolidated balance sheet level.
• Manage centralized treasury functions of the Bahrain branch.
• Manage and allocate FX/MM limits to overseas branches and control centralized inter-bank credit exposure with Head Office Treasury.

Liquidity Risk Management

• Translate the Board of Directors-approved liquidity risk tolerance policy into strategies, policies, procedures, limits, warning indicators, and communication and escalation procedures to manage liquidity risk, covering managing liquidity in different currencies, across borders, and across legal entities, and intraday liquidity management.
• Ensure that the Bank maintains sufficient liquidity under normal conditions and during periods of liquidity stress resulting from firm-specific or market-wide crises through developing and updating the Bank's Contingency Funding Plan.
• Assist in developing annual funding plans for the UAE, IBG, and FI branches and suggest market timing and actions to keep the Bank on track in achieving the desired funding mix at the least possible cost.
• Ensure that the Bank's Money Market operational procedures, including benchmark rate-setting procedures at all locations, remain current and aligned with external regulatory requirements and market best practices, including Basel III liquidity regulations.
• Interface with regulators on benchmark rate-setting procedures and other liquidity-related regulatory matters.

USD/AED Rate Quotation and Nostro Management

• Quote USD/AED and other GCC currencies for spot, forward, and swaps competitively to achieve targets.
• Ensure efficient management of all foreign currency Nostro positions so that positions are covered or deployed promptly, minimizing interest expense and ensuring cost allocation for balance volatility.
• Manage the Bank's, including overseas branches', long USD exchange position within the approved ALCO limit.

Shariah Support and Compliance

• Manage Islamic Treasury functions in accordance with Sharia principles.
• Arrange Sharia-compliant funds from inter-bank markets and corporate clients for Mashreq Al Islami.

General Operations

• Act as backup for the Director Funding Centre and manage publication of the FTP and Deposit Rates grid, including approval of rate exceptions on deposits in the Director's absence.
• Assist in pricing and maintaining optimal VLC deposit balances at all locations.
• Safeguard the Bank from potential loss by recommending and ensuring strict adherence to established limits and guidelines.
• Assist all international Money Market desks as required.
• Maintain and enhance the Bank's reputation through superior service and high ethical standards consistent with the Bank's image and reputation.

Qualifications & Experience

• Graduate qualification with a Master's degree preferred.
• Minimum of 9 to 10 years of Money Markets and trading experience in a large institution.
• Proven leadership of the Money Markets function.
• Complete knowledge and clear understanding of Basel and other liquidity regulations.
• Complete knowledge and clear understanding of the Bank's Treasury-related policies, procedures, and operating systems.
• Hands-on familiarity with Operations/TOC processes.

Skills & Competencies

• Strong product and service knowledge and marketing skills.
• Excellent interpersonal and communication skills.
• Excellent lateral thinking and analytical skills.
• Ability to perform as a team player.