AVP-Assets and Liability Management (ALM) Treasury
Dubai Islamic Bank (DIB)
Total years of experience :21 years, 6 Months
Profitably manage the treasury assets and liabilities of the bank
Invest in and manage fixed income portfolio comprising of Sukuks for Trading and AFS
Periodically devise and implement propose bank’s funding strategy and subsequent implementation through the FX/MM and swap markets
Keep track of deposits/financings trends, and possible impact on Bank’s liquidity.
Ensure overall management of bank’s balance sheet as per the ALCO guidelines and periodic funding plan.
Help Treasury sales desk formulate sales strategies to take advantageous of money market movements and minimize risk.
Assist treasury sales desk in marketing and structuring currency & Sharia compliant hedging products and high yield structured investment.
Analyze financial markets, market trends, political and economic indicators and apprise senior management of any major shifts in market dynamics impacting bank’s balance sheet
Ensure trading and liquidity management activities are compliant with UAE central bank guidelines, ALCO, credit and market risk policies and Sharia’s principles.
Created a formal treasury function in the organization with structure, process flow and policies and procedures
Analyzed and implemented FX and interest rates hedging strategies through derivatives
Carry out day to day effective cash management by coordinating between different unit and subsidiaries of the Group. While making sure all other elements of the company’s finance facilities are in place when needed.
Built and maintained corporate treasury and finance relationships with local and international bank RMs and dealers for most suitable services and products.
To contribute towards maintenance of the overall financial control environment through ensuring that the department policies and procedures are adhered to viz. PO procedures, signing off authority limits, bank mandates and expense guidelines
Balance sheet, banks & intercompany reconciliations on a monthly basis
Monthly Journals review prior to closure of books of accounts, monthly scrutiny of GL code classifications, assist in monthly, quarterly and annual reporting requirements
Ensure financial records are maintained in compliance with accepted policies and procedures Providing financial advise across the company various units on regular liaison with the unit GMs
Review and ensure Cash Flow is managed effectively with a key focus on collecting debt from clients
Responsible in compiling budgets and to have regular meetings with line managers and budget holders
Lead on improvement initiatives and innovation to assist in driving and/or tracking of cost saving initiatives and promote lean practices
Deputize for Finance Business Partner in regards to both internal and external requirements
Take proprietary trading positions in major currencies.
Use Repos, Reverse Repos, FX Swaps and other market instruments to ensure the best efficient way of funding the various activities of the consumer segment of the Bank.
Quote FX and MM rates to high net worth clients for currency conversions and booking deposits
Formulate gapping strategies to take advantages of money market movements at the same time ensuring diversification of portfolio into highly liquid and high yielding assets.
Provide a comprehensive assessment on Money Market activities and highlight trends in various currencies during the regular management meetings.
Constant follow-up of market changes, especially related to monetary and fiscal polices changes that would have impact on the direction of interest rates in the major markets.
Head the inter-bank FX trading desk and report to head of the inter-bank trading and sales desks
Interbank USD/PKR dealing in ready, forward and swap market with avg. daily turnover of more than USD 50 million
Engage in major currencies proprietary trading with avg. daily turnover of USD25 million and profit target of USD100, 000 per month
Ensure efficient and effective management of the bank’s exchange position
Manage USD/PKR swap book (amounting to USD350-450 million in size) through gapping strategies to take advantage of expected favorable price movements and arbitrage opportunities
Help FX sales desk in quoting most profitable and competitive prices to customers
Ensure compliance with all the internal risk management and external regulatory parameters in day to day FX transactions.
Ensure that the activity on the FX desk is in compliance with ethical standards, risk management and FX regulatory parameters.
Remained responsible for all the matters (such as trading, liquidity management, regulatory and risk management) on the FX desk and report to Chief dealer
Rotated through money market, corporate sales and FX interbank desks for six months and finally posted to FX interbank desk
Coordinated the installation and implementation of the treasury software
Worked in the Treasury operations department for six months
Candidate for 2012 CFA Level 3 Exam
CGPA 2.93 8-weeks internship with Abbot Laboratories Pakistan 4-weeks internship with BMA Capital Managment Pakistan 6-weeks internship with Sigma Leasing Paksitan