Job Description

Description

Specialist- Asset Servicing

One FAB Tower, Abu Dhabi, United Arab Emirates

Full-time

Division: GCOO

Sub Division: Group Operations

Company Description

Now it's your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region. Shaking up the world of banking requires a lot of smarts and skill. We're looking for the brightest and best to help us reach our goals and we'll also help you reach yours. Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry



JOB PURPOSE:

Responsible for daily monitoring and processing of Corporate Actions processes covering Domestic and Regional and International Market for both mandatory and voluntary specific corporate actions functions of diverse products like equities mutual funds , fixed income , hedge fund , structured funds , ETF and ensuring highest quality of client service delivery as per international standards

Responsible for handling moderately intricate to extremely complex corporate action events across Local, Regional, International Markets. Processing responsibilities include the receipt of market / sub custodian announcements, the scrubbing/comparison of data, and releasing notification of corporate action events to client. Reconciliation of client positions with respective sub custodians and markets and monitors appropriate posting of accruals and entitlements to client accounts. For all voluntary events is responsible for soliciting and receiving responses from the clients and for submitting these instructions to the respective sub custodians / markets / agents / processing bank prior to their deadline dates

Communicate with many entities Clients, Counter parties, Markets, Sub Custodians , Regulators, Companies, Brokers, Paying Agents, Issuers covering Local, Regional, Global Markets, related to corporate actions process, support Due Diligence visits linking to corporate actions process

The incumbent is responsible for adhering to established quality control measures and procedures

Responsible to provide the first level training for new specialists and will assist specialists in handling inquiries

Active participation in understanding the Operating module, including Securities Lending and Borrowing transactions, that are large in value and complex in nature, ensuring their successful corporate actions processing, avoiding loss and penalties to the bank and clients that could cause the bank Reputational, Financial and Operational Risk

Handling corporate actions processing related to Regional Market as Direct Custodian

Current offering of Department: Position Management, Security/Cash Settlement, Corporate Actions, Reporting, Invoicing, Reconciliation, Swift, Market Security Movement, Cash Management, Project Support, Proxy Services, Tax Reclaims, Income Management. Planned expansion into support of Securities Lending, Client Short Selling, Network Management Support, Claim Management and other services

Specialist will participate in section related projects such as system upgrade / changes, processing enhancements and off hours system testing

Supporting working on both Friday related to International and UAE Market and Sunday related to Regional Market processing wherever there is a requirements to complete client delivery

Active participation in implementation of corporate actions processing related to New clients SLA and SLD, Sub Custodian SLA, New Functions, Products, Market Rules Regulations and Procedures with relevant controls to provide highest level of client delivery

Tracking of other custodian's offering in line with International best practices with clear understanding of client's requirements, adapting to rapidly changing business environment and client's requirements

Responsible to coordinate and work with various internal departments and external entitles and concerned persons as an integral part related to participation in Projects in order to Reengineer the process for excellence client delivery and reduce manual activities

Qualifications

Minimum Qualification

University Graduate / Bachelor's Degree (or 5 years related work experience)

Minimum Experience

5 + years related experience in security services and / or back office operations eg managing corporate actions / securities settlements

Solid understanding of security services and operations and accounting activity related to security services

Ability to work under pressure, to prioritise and to manage several tasks at the same time

Team oriented and ability to work under pressure

Ability to achieve business objectives without compromising controls and risk parameters established

Strong execution skills in a multi-tasking mode and follow-up effectively

Self-starter with excellent attitude, communication and interpersonal skills

High level of accuracy & attention to detail and excellent team working skills

Specific experience in Securities related functions eg Client Services, Corporate Actions, Settlement, Data Maintenance & Billing or Custody Account Opening will be an added advantage