Direct Equities & Escrow Accounts Operations Manager
Dubai Islamic Bank
Total years of experience :22 years, 8 Months
Direct Equities Operations
• Handling and controlling day - to - day bank’s direct investment operations activities.
• Monthly evaluation of the public investment portfolio (MTM) and the private investment portfolio
• Accrue and collect the due corporate action and dividends.
• Participate with the vendor in develop the investment related system.
• Monitoring and controlling the bank’s real estate investment portfolio.
• Monitoring the investment classifications and re-classify the investment when required.
• Developing, executing and re-engineering process to keep the current process / procedures updated at all times to keep the control over the portfolios.
• Dealing with the internal, external and Diwan auditors.
• Reviewing the daily and the monthly MIS.
• Streamlining the preparation of monthly risk reports of such as "KRI" Key Risk Indicators, Fraud Risk Assessment “FRA”, Risk Control Self-Assessment “RCSA”, thus submitting the same to the senior management.
Custodian & Escrow Operations
• Managing the daily operations for Escrow, Custodian and private Equities operations as per the guidelines of SOP.
• Maintain the full control within the assigned unit while identifying and implementing measures to mitigate operational key risks in line with pertinent rules and regulations and bank's policies.
• Developing, executing and re-engineering process to keep the current process / procedures updated at all times with market competition.
• Ensuring that all deals / transactions are within the approved limits.
• Ensuring the accuracy and completeness of the deals/transaction as per the SOP.
• Check, verify and sign all vouchers, requisitions, agreement…etc to execute the transactions.
• Ensure accurate processing of transaction as per the agreed SLA.
• Ensuring that MIS is being prepared and provided to management on an agreed frequency.
• Maintain accuracy and completeness of month end reconciliation and balancing of all the related suspense, GL, Nostro and Vostro accounts…etc, with the records.
• Participate in special projects and assignments as deemed necessary by the management.
• Monitoring and enhancing the internal control in the unit.
• Participating in the systems scenarios, UAT, test scripts, .etc of unit related systems.
• Applying the bank policies.
• Ability to work on swift system (type 5)
Substitute - Corporate Asset Operations Manager
• Spearheading day to day operations for “CAO” - Corporate Assets and Contracting Finance Operations Unit as per the guiding principles of SOP to ensure smooth functioning of the operations in an efficient and effective manner.
• Instrumental in implementing Corporate, Contracting and Real Estate Finance deals for various Products including Itisnaa, Morabaha, Musharka, Mudaraba and Ijarah to ascertain better workflow.
• Escorting new / existing product development and IT projects pertinent to CAO unit comprising of system enhancements, new product implementation and development of existing products in synchronization with IT and Sharia, assuring proper flow of work.
• Drafting monthly reports for business and finance department along with analyzing monthly reconciliations for all associated GL suspense accounts and sub-GL accounts under CAO ownership.
• Accountable for processing disbursements and booking transactions of new corporate facilities.
• Examining and implementing terms and conditions of new approvals by means of Limit Management System "LMS".
• Evaluating and drafting agreements in synchronization with CAD and Sharia department.
• Liable for supervising and array of activities associated with all after sale services.
• Analyzing and accomplishing restructuring approvals in liaison with Risk Management team.
• Direct the accounting department team in preparation of all financial reports including income statement, balance sheet, reports to the senior management.
• Oversee the accounting department and the daily operations.
• Collect and consolidate the budget and submit it to the head quarter in Egypt.
• Reviewing projects progress reports to analyze the achievements and to be compared to the budget figures.
• Prepare the monthly reports which include accounts payable reconciliation, accounts receivable reconciliation, cash flow, GL, bank reconciliation and variance analysis.
• Controlling the financial records and applying sound of control over the financial records.
• Handling treasury activities and negotiating with banks.
• Applying corporate policies and procedures.
• Creation and setup the Chart of Accounts on the finance system.
• Creation and setup the Chart of Accounts on the finance system.
• Opening the new control accounts after the coordination with Regional Financial Manager
• Participating in the preparation of the internal accounting cycles.
• Coordinate with regional financial manager in internal policies and procedures
• Participating in the preparation of the Quarterly & Annually Budget.
• Review and analyses monthly comparison between actual & Budget.
• Monitoring the Internal control and the company procedures.
• Reviewing financial statements for the corporate’s subsidiaries in different countries (Algeria, Sudan, Sierra Leone, Tanzania, Kenya, Niger, Burkina Faso, KSA, Iraq)
• Act as deputy Regional Financial Manager in his absence.
• Participating in prepare consolidation Financial Statement.
• Participating in prepare the required weekly, monthly and quarterly MIS to the senior management.
• Review all company contracts with suppliers and amend the payment terms and any condition that didn't agreeable with company policies.
• Reviewing and approving all Payment transaction Vouchers for other Affiliate Company.
• Compiling the monthly confirmation with the affiliated company (intercompany accounts).
• Handling all banks operations (opening accounts / bank facilities / time deposits/ cash management, …etc)
• Weekly and Monthly analytical reports ( cash on hand / company liquidity / time deposits interest /L.C & L.G situation / cash flow forecasting ).
• Participating in the preparation of the internal manual procedures (cash & bank payment cycle / custody cycle)
• Handling the shipments operation (L.C opening / transfers / customs clearance / warehousing)
• Preparing payments request for affiliated company or other debit advices.
• Preparing monthly cash Projection & weekly cash Projection for local and foreign currencies.
• Participating in the overdraft facilities and Loans studies and negotiations.
• Handling monthly salary transfers and calculating the related deductions (income tax, social insurance, loans, social funds, …etc)
• Preparing monthly bank reconciliation, bank charges and interest calculation.
• Follow up cheques collection.
• Monitoring and reviewing and managing the cheques issuance procedures.
• Preparing monthly expenses accruals and monitoring it.
• Participating in the periodic physical count for the Inventory.
• Reviewing and signing the payment vouchers.
• Book keeping for companies.
• Preparing the financial statements for companies.
• Preparing the final audit report.
• Testing the accounting systems and ensuring the internal control over the system has been applied.
• Responsibility for recommending the weakness points in the internal control.
• Asking the client management to post the adjustment entries.
• Preparing the audit mission plan.
• Communicate with clients and resolving any problems that might arise.
Passed the GAAP part of the CPA
