Website Mashreq Bank
Managing Operational activities of derivative unit within treasury opeations, which includes trade validation / settlement of derivative transactions, F&O (Futures / Options) & OTC clearing and Margin trading, along with related control and reporting activities.
- Co-ordinate derivative ops requirements for treasury system projects and system upgrades.
- Focus on identifying areas for digitization and opportunities for automation.
- Maintaining a good relationship with all relevant stakeholders including Treasury front office, Finance team, Technology, Accounts Department, risk teams and other business teams.
- Ensure VAT is collected and reporting on applicable products and services.
- Team management skills to ensure team is motivated, trained and has the required skillsets to process the complex products in the unit.
- Margin trading operational requirements around customer account setup, transfer of funds for trading and reconciliation to be performed as required.
- Reconciliation of all product related balances.
- Collateral management: Monitoring of customer mark to market exposure against underlying document threshold and ensuring required collateral is settled.
- Preparation of various reports to different stakeholders including market risk, finance, treasury division..etc
- Facilitate team to manage account setup, funding, segregation of Margin based on which leverage is provided as per documentation for Margin Trading.
- Monitoring of limits on Margin trading and reporting to front office for resolution.
- Monitoring of Proprietary trading limits and reporting any breaches to management, Treasury and Market Risk.
- Manage team’s organization of activities including back up requirements, considering it’s a small unit.
- New regulatory requirements related to derivatives to be adhered to.
- All product related reconciliations to be followed by team, to ensure balances between system and Gls are aligned.
- Expertise in the products related to all core derivative instruments and on the various asset classes like equity, fx, interest rate, commodity..etc
- Ensure all required derivative documentation are in place and facilitate execution wherever required.
- Understanding of all derivative product complexities from an operational perspective.
- Ensure all operational risks related to the process are covered and documented as part of the units Risk register and required RCSA done periodically.
- Adherence to Islamic product workflow and documentation.
- Oversee that F&O (Futures & Options) and OTC clearing activities are performed as per the required operational procedures.
- Experience of 8 – 10 years in a reputed bank in similar position.
- Prior experience of working on a treasury system.
- Certification in the financial markets is an added advantage.
- People management skills to manage a team of 4 to 5 team members.
- Graduate from a reputed University.
- Expert in all the primary OTC & Exchange derivative products and the underlying operational risks in these products / processes.
Company: Mashreq Bank
Vacancy Type: Full Time
Job Location: Dubai, UAE
Application Deadline: N/A
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