Settlement Officer ( Treasury Back Office )
Arab Monetary Fund
Total years of experience :7 years, 6 Months
- Carried out activities involving settlement operations that include inter-bank transfers and deposits, foreign exchange, money and capital market instruments, bonds, and alternative investments in hedge funds.
- Reconciled daily and monthly SWIFT MT950 statements. to ensure all expected receipts and payments are correctly posted in the statements and any returned funds, unadvised credits, and unauthorized debits are investigated instantly.
- Checked the availability of funds in the projected cashflow report to ensure funds are available for the settlement of transactions and determined daily liquidity requirements for the treasury dealers.
- Reviewed trade control reports and monitored past, current, and future trades to ensure all payments and settlements are made on time in accordance with the global cut-off times and documented procedures.
- Monitored corporate actions received from custodians to check for updates regarding corporate action events and to ensure all coupons and redemptions are matched with our records.
- Prepared and executed necessary settlement instructions and monitored maturities.
- Monitored the collateral activity managed by the collateral manager on behalf of AMF, to ensure that all foreign exchange trades subject to an active Credit Support Annex agreement are correctly reconciled and all collateral cash movements and margin calls are captured on time.
- Coordinated with counterparties and correspondents to capture and maintain banking SSIs to ensure accuracy of static data and account set up on the investment system.
- Pre-matched incoming confirmations from counterparties to ensure the correctness of trade details.
- Prepared the monthly Key Performance Indicators Report.
- Assisted with updating the bank reconciliation and settlement operations policies and procedures manuals.
- Reviewed KYC documents of new and existing accounts to meet compliance requirements..
- Reviewed daily transaction monitoring reports and ensured any queries arising are resolved or escalated to Customer Service and Back Office Operations.
- Reviewed Central Bank notices of suspicious individuals and institutions.
- Identified Politically Exposed Persons and high risk individuals and organizations to manage financial, regulatory, and reputational risk using the World-Check Database.
- Monitored the monthly activity of clients that are Politically Exposed Persons.
- Conducted enhanced due diligence on high-risk accounts, to prevent the financing of terrorism, threat finance, and money laundering legislations.
- Acknowledged suspicious or unusual transactional activity by reviewing transactional and customer records, external data, publicly available information, and other information.
- Responded to money laundering investigations and questionnaires received from correspondent banks.
- Performed AML transaction monitoring, customer risk scoring, watch-list filtering, and sanctions screening.
- Executed SWIFT messages after examination and reported internally for suspicious transactions.
- Kept abreast of sanctions on OFAC blocked countries, policies, regulations, criminal typologies, and developing trends.
- Managed FATCA documentation and implementation to ensure compliance with IRS forms W-9/W-8 tax certification requirements to limit and prevent penalties for non-compliance and to avoid tax evasion by U.S. citizens and residents.
- Ensured CRS forms of existing clients are documented correctly to help protect the integrity of tax systems and governments.
- Reviewed documents received from the Trade Finance Department to check if any mode of transportation is sanctioned and to track the shipments to avoid goods bought and sold to settle in sanctioned countries.
Internship in the Accounting and Finance departments
I'm currebtly a CFA Level 1 Candidate