Specialist, Securities Services Operations at First Abu Dhabi Bank

Abu Dhabi, Abu Dhabi Emirate, United Arab Emirates -

Full Time

Start Date

Immediate

Expiry Date

28 Jun, 26

Salary

0.0

Posted On

30 Mar, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Transaction Management, Position Management, Reporting, Portfolio Onboarding, Fund Dividend Process, Fee Process, Compliance Review, Broker Account Documentation, SLA Negotiation, Dividend Distribution, Data Coordination, Cash Reconciliation, Position Reconciliation, NAV Publication, Trade Flow Monitoring, Trade Investigation

Industry

Banking

Description

Job purpose: The middle office provides a significant level of control and policing of the front office’s activities. The middle office’s functions include assuring data integrity through Transaction Management, Position Management, Reporting and administering portfolio systems. The role will support and assist the Head of Middle Product in ensuring internal and external client deliverables are consistently met. Primary focus will be on reporting, support with onboarding of portfolios, funds, fund admins, Fund Dividend process, Fee process. Key Accountability: * Perform a diverse range of middle office responsibilities with primary focus on reporting, onboarding of portfolios, funds, fund admins, Fund dividend process, fee process. * Responsible for on boarding client portfolios as well as mutual fund structures (UCITS and regionally domiciled) to the Investment Management unit of FAB and third parties. * Reviewing IMA, investment guidelines, fee schedules, open accounts in the portfolio management system and code compliance rules & investment guidelines. * On boarding of portfolios and funds with the custodian and establishing market access with brokers and clearing houses. * Completing and reviewing broker account documentations, liaising with legal as well as setting up broker accounts in Portfolio management & Trading system * Covering third party relationship including review and negotiating of SLA/Engagement letters, service reviews, counterparty performance management and billing * Handling of IPO subscription process for client portfolios & Funds. * Responsible for Dividend distribution from calculating dividends to obtaining approvals. * Coordinator of data for internal audit reviews for the Middle Office team as well as for external auditors for the completion of Fund Audit & Fund Financial Statements. * Preparing broker allocation and ranking reports for the Broker Review Committee. * Assist PMs in Investigating investment breaches as directed from time to time regarding compliance of portfolios to the guidelines set out in the IMA. * Carry out daily cash, position reconciliation, record cash flows, income and expense transactions of portfolios, funds and bancassurance products. * Assist Portfolio Managers in cash management. Ensure subscriptions/redemptions, expenses/incomes, transfers are instructed/recorded systematically for efficient cash management * Liaise with custodians and fund accountants to accurately reflect all trading activity, investigate valuation discrepancies and ensure Fund NAVs are published on time. * Co-ordinate with various departments within FAB and externally in relation to the portfolio management/fund management services (being brokerage firms, financial markets, dealing room, legal department, compliance, products and other support divisions within FAB). * Contribute to policy and procedure changes, ensuring regulatory compliance and changing business requirements are met. * Perform the daily trade flow ensuring all transactions are confirmed with counterparties, that matching instructions are in place in the market and have been communicated to the custodians and other relevant parties. * Investigation of all unmatched trades, failed trades and any subsequent market claims, whilst escalating potential issues and trade fails to traders and fund managers. * Monitor ETD margin positions held and complete associated cash transfers to broker * Review Expense invoices received to ensure in line with accruals and fund documentation and liaise with FMs for approval. * Daily, Weekly and adhoc generation of portfolio and fund performance and valuation reports for internal and external parties. * Review prices issued on underlying securities and Fixed Income positions to ensure are appropriately feeding through and query any movements * To act as back up for middle office activities during absence of a team member. Job Context: * Completion of daily task list * Completion of skills matrix targets. * Providing monthly management information to the Head of Middle Office for inclusion in the Monthly Middle Office KPI Management Report. * Carry out Ad hoc requests from internal and external customers Job knowledge, skills & experience: * 3+ years’ work experience within Asset management, banking or other financial institution. * Minimum of 2+ years working within a trading/market operations environment within asset management, mutual funds, hedge funds or fund administration. * Working knowledge of Portfolio valuation and Fund Net Asset Value Calculations * Working knowledge of IMA/prospectus reviews and coding investment guidelines * Sound knowledge of end-to-end workflow and life cycle of financial instruments including equities, fixed income, Repos, FX and Exchange traded and OTC derivatives. * Working knowledge of Portfolio management systems like Bloomberg AIM, Temenos TAP/T24, Advent APX/Geneva and data vendors like Bloomberg, Reuters etc * Advanced Microsoft Excel, Word, PowerPoint and Outlook skills. * Ability to work independently under tight deadlines and effectively manage multiple tasks. Academic/Professional Qualifications: * A degree in Finance, Accounting, Economics or related field. About Us: First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. We offer a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. Our commitment to excellence and innovation drives us to provide top-tier financial solutions to our clients. Life at FAB: Working at FAB means being part of a team of talented and passionate individuals with a shared vision to support the ambitions of our stakeholders to "Grow Stronger." We embrace the needs of our customers across the globe with a sense of responsibility and confidence driven by extensive expertise that can only be delivered by an ambitious world-class organization Career Development: FAB offers unique career choices, a chance to innovate, craft solutions for the future, and express yourself in a performance-based culture that will unleash the best in you. Whether you are an experienced professional or just starting your career, FAB provides a range of learning and development initiatives to support all employees through training and skill development. Our Values: At FAB, we place our customers at the core of our activities, live our values each day in every way, celebrate achievements, and empower each other to deliver leading solutions. We have structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globaly that rewards your hard work and dedication. Join our team and be part of a journey to shape the future of banking.

Responsibilities

The role involves performing diverse middle office responsibilities, primarily focusing on reporting, onboarding portfolios and funds, managing the dividend and fee processes, and ensuring data integrity through transaction and position management. Key duties include reviewing investment guidelines, handling broker account setups, managing third-party relationships, and coordinating data for audits.