VP & Head of Capital Markets and Derivatives Operations - Abu Dhabi, United Arab Emirates - First Abu Dhabi Bank

Description

Job Description

JOB PURPOSE:

• Manage the communication & services provided to e2e GM stakeholders and improve business relationships accordingly. Work with GM Enablement partners to manage risk, client, financials and new business propositions
• Ensure managing team reporting to Him/ Herin following banks policies and procedures. Manage staff and provide training plans along with completion of BAU and ensure that area managed are within Emiratisation ratios and act as a direct mentor for UAE national working in the team on daily basis.
• Manage the test key RMA (Relationship Management Application) communication system and secure it from misuse and fraud.
• Ensure policies and procedures been followed by the team and develop process change toward automation (STP). Ensure that all functions are cover by approved policies and procedures and develop new for new products.
• Monitor effectiveness of the systems, procedures and controls relating to the above areas and to ensure compliance to bank's approved procedures, security, International Accounting standards, and industry practices.
• Reporting highlighted items and breaches in relevant business / asset class to high management through MIS reporting such as Traffic Light, Error Reports, Work Volume and other Dashboards.
• Manage and control all operational and trading activities from a risk perception in relation to the GM banking operations of the bank and managing the accounting functions for all the related business.
• Establish proper operational policies and procedures for the above areas.
• Lead the team to perform their daily tasks and set plans/training to develop their skills and ensure bank competencies are implemented and deliver professional leadership by allotting right job to most eligible/competent staff.
• Monitor, and report activities against risk limits set by EC and Senior Management.
• In the analysis of various portfolios for making strategic business decisions by business units
• Set up succession plan and disaster recovery plan.
• Manage and control all operational and administrative aspects and accounting of the Capital Markets and Derivatives banking operations of the bank which include the international and domestic funded and non-funded Bilateral trading, , investment portfolios, capital market trading activities,. and provide high level of efficient services by meeting stakeholders/external client expectations in order to ensure that the Bank's assets are protected , revenues are collected and relationships are maintained.
• Monitor effectiveness of the systems, procedures and controls relating to the above areas and to ensure compliance to bank's management approved trading limits, credit limit and procedures, security, International Accounting standards, and industry practices.
• Manage new products launched by front offices.
• Set up plans and strategies for the development of 'CMOD' in line with the changes of other business units with special emphasis on automation of process & services.

Specific Accountability

• Manage the departmental work to ensure that external and internal customers are provided with the highest level of quality service at the cheapest cost and without putting the bank at risk.
• Manage and control settlement of Capital Market Trading activities in international bonds, equities, Options, futures swaps and other derivatives (including portfolios managed on behalf of clients) to ensure that the risk exposures are within the approved limits set by the bank and customers (in respect of managed portfolios, stop loss limits are not breached and transactions are settled without any loss of income/late settlement claims
• Manage the operations of leveraged loans granted to customers and staff and monitor and report the security coverage ratio weekly.
• Manage the accounting and Net Asset Value calculations of the bank's funds and ensure that they are published in time.
• Manage the process of preparing the annual budget of Capital Markets and Derivatives Group reflecting the strategic business directives received from these units, monitor performance against approved budget, and analyze and report reasons for variance to the management.
• Manage the control process in relation to structured & derivatives / collateral / capital and ensures that the transactions are within the stipulated limits of the Risk Management Committee (RMC) which are issued periodically. Any exceptions should be reported to the RMC immediately for appropriate.
• Manage and control the valuation process of all the bank's derivative products and duly report to M-Market Risk of any discrepancies or items requiring special attention in coordination with Middle Office.
• Manage and control the accounting of the above areas to ensure that the bank's assets, liabilities, income and expenditure are recorded in the bank's books as per bank's policies taking into account changes in the International Financial Reporting Standards (IFRS) and Central Bank guidelines.
• Manage the investigation unit of the department and ensure unresolved transactions are resolved within time frames stipulated in the SLA.
• Continuously monitor and review the processing systems, procedures and internal controls to ensure that these comply with bank's approved procedures, banking practices, accounting standards and security considerations.
• Set up new systems, procedures and controls for the new products handled by FMD, INVBD and AIG
• Arrange funding of Capital Market Trading activities and manage efficient utilization of funds to ensure that idle funds are not kept and overdraft charges are not incurred.
• Review operational aspects of the agreements to be signed with the bank and customers and counterparties
• Review operational aspects of OTC Derivative documentations prior to conclusion of the agreement to ensure that they are viable and not prejudicial to the interest of the Bank.
• Monitor performance of the Externally Managed Investment Portfolios on an on-going basis to ensure investment decisions taken by the Fund Manager are in compliance with agreed mandates, revaluation and accounting of the portfolio have been performed on an acceptable basis without overstating the portfolio value and banks interests are protected.
• Monitor cash flows over Nostro Securities /Cash Accounts to ensure efficient utilization of funds and ensure compliance with Nostro limits to avoid credit risk, ensuring opportunity gains are secured by effective cash management.
• Monitor bond lending operations executed by Euroclear, Clearstream and JP Chase to ensure bonds lent are within approved limits, related revenues realized, and bonds recalled and collected before due date, if required
• Analyze and resolve technical accounting and system related problems to ensure such problems are properly resolved and perform complex financial analyses relative to Loan and Investment Portfolios, and Treasury areas.
• Provide Chief Executive with special reports which he has requested with regard to the assets (Securities) managed by GMO.
• Ensure that month end P/L numbers are reconciled with GMO records and FMD expected numbers in coordination with FCD and advise to SGM-FMD.
• Provide RMD with the daily Risk Co-efficient report in order to monitor the overall risk of the bank in relation treasury activities in coordination with Middle Office.
• Ensure that that the bank's new market risk framework including the product approval processes duly implemented (NPP).
• Ensure that the Function as the BU Coordinator for the Banks Operational Risk Management program.
• Ensure that the bank's communications via SWIFT is duly controlled in order to prevent fraud and errors.
• Ensure motivation / guidance / rotation / training and cross - training of staff to meet current and future business strategies, and that staff matters are managed / administered in order to maintain smooth functioning of the department at all times.
• Deputize Head of CIB Operations in their absence.

Qualifications

• Graduate in Accounting. Professional qualification preferred
• Deep knowledge in applying IFRS
• Strong awareness of market and operational risk.
• Thorough understanding and extensive practical experience in the operations of Capital Market / Derivative and other International Banking products.
• Significant people management skills and experience.
• High leadership skills
• At least 10 years of bank operations management experience.

PRECEDENTS OR REGULATIONS THAT GUIDE ACTIONS

AOM, PPM, CPM International Financial reporting Standards (IFRS), product specific international regulations, local (principally UAE Central Bank) international regulatory controls and market and operational risk conventions