Head of operations and Custody services
Saudi Kuwaiti Finance House
Total years of experience :14 years, 4 Months
• Reporting directly to the CEO; duties & responsibilities include setting up of the back office for asset management and Custody department.
• I have assumed the same responsibilities and duties listed below under the previous companies.
Reporting directly to the CEO; duties & responsibilities include setting up of the back office for asset management
• Reporting directly to the CEO; duties & responsibilities include setting up of the back office for asset management, Brokerage and Custody.
• Setting up front office & operation of custody for Non-Listed companies.
• Coordination and Supervision - Coordinate, manage and monitor the workings of operations department in the organization.
• Financial - Review financial statements and data of mutual funds, DPM and Brokerage.
• Best Practices - Improve processes and policies in support of organizational goals. Formulate and implement operations department policies and procedures to maximize output. Monitor adherence to rules, regulations and procedures.
• Human Resources - Plan the use of human resources. Organize recruitment and placement of required staff. Establish operational structures. Delegate tasks and accountabilities. Establish work schedules. Supervise staff. Monitor and evaluate performance.
• Strategic Input - Liaison with top management. Assist in the development of strategic plans for operational activity. Implement and manage operational plans.
• Minimizing the risk of loss and fraud in an efficient working environment.
• Plans, directs and controls related process improvements in order to maximize efficiency and maintain stringent control whilst providing a high level of customer service.
• Direct control the strategy and execution of the Custody Services Operations department. Ensures that controls and systems in place are customer oriented and in line with local regulatory standards.
• Annually review and update the policies and procedures of operations departments.
• Work & provide the data of products to external & internal auditor to finalize the audit reports.
• Maintain Safekeeping of client’s securities (physical and book-entry form).
• Insure that all processes are under records and identical to the policies of CMA & Tadawul regulatory.
• I have assumed the same responsibilities and duties listed below under the previous companies.
• Reporting directly to the CEO; duties & responsibilities include setting up of the back office for asset management and brokerage & going live.
• Systems
- Functional review & customization
- Acceptance testing of systems & implementation.
- Preparing Business Requirements Documentation (BRD) & also the User Admission Test (UAT) process.
• Implementing comprehensive policy, procedures & controls.
• Establishing third party relationships such as Banking, Brokerage, Custody, and Fund Managers.
• Liaising & complying with the regulators.
• Staff
- Recruitment
- Training
• Established & managing a fully functional asset management back office capable of supporting the companies following business lines:
- Mutual Funds
- Discretionary Portfolios Management
- Sub Management function
• Setting up the Brokerage back office system and supporting the front-office system establishment.
• I have assumed the same responsibilities and duties listed below under Jadwa Investment Company & Arabian Capital.
• In-charge of the Back office department, reporting directly to the COO. Duties & responsibilities included setting up of the back office for asset management and brokerage & going live.
• Established and managed the Brokerage (Local, GCC, and International) as well as Asset Management Operations.
• I have assumed the same responsibilities and duties listed below under Jadwa Investment Company
• In-charge of the Back office department, reporting directly to the COO. Duties & responsibilities included setting up of the back office for asset management and brokerage & going live.
• Created the department policies and procedures.
• Created the staff job structure with their job descriptions.
• Created the department system’s business requirements.
• Handled the opening of bank and of investment accounts for each fund.
• Trained the asset management operation’s staff on policies and procedures and on the system usage.
• Developed and monitored all new updates and headed the weekly meetings to ensure that the work is progressing as scheduled.
• Prepared and designed the investment/funds’ subscription and redemption forms.
• Administered the process of testing the system functionalities to ensure it meets with all the key business requirements to issue a UAT report for all the developments and changes and revisions on the system.
• Manually handled the Funds’ valuation process (local and international stock, Murabaha, Sukuk, real estate, fund of funds, & IPO Fund) using self-developed Excel sheets and also through the system to ensure accuracy of the valuation reports.
• Prepared the Funds’ periodical financial statements (Monthly, Semi-Annually and Annually).
• Prepared the monthly reconciliation reports for all funds’ accounts.
• Prepared and sent the regulatory required reports to the Capital Market Authority CMA (weekly, monthly and quarterly and annually) and to Tadawul.
• Uploaded the Funds’ prices and NAVs and other funds’ information on Tadawul Website.
• Trained the Marketing department and branches staff on the policies and procedures for asset management operation department.
• Followed-up with the Asset management to ensure that all transaction entries are correct and in line with the funds’ Terms and Conditions.
• Writing or revising the opening account document to make sure that it meets the requirements of the Capital Market Authority (CMA.)
• Followed up on all Shari’ah transactions to ensure it satisfies the Shari’ah rule book.
• Making sure that all customer files documentations are complete and documented.
• Tested the various systems (operations back-end and Brokerage) to ensure the integrity of the linkage and proper exchange of data.
• Sending customer reports.
• Preparing reports for presentation to the Board of Directors Meetings, including the department results, requirements needs and others.
• Created the SWAP agreement documentation and processes.
• Reporting directly to the Operation Manager. Duties & responsibilities included:
• Operations:
- Processing new subscriptions, additions and withdrawal entries.
- International operations entry.
- Evaluation of funds and issuing of new unit prices (Fund Valuation Reports.)
- Uploaded the prices of all funds to SAMA site on the Internet.
• International Operations:
- Studying the liquidation volume and determines the available percentage for investment under subscriptions and walkouts expectations.
• Auditing:
- Reconciling the Bond pricing and volume data related to the Money Market Funds against the books of issuers.
- Issuing monthly reconciliation funds reports.
- Monitoring the funds’ cash and new investment (Inflow vs. Outflow, etc) reports.
• Customers Services:
- Sending out the clients monthly funds statements.
- Receiving and handling telephonic incoming inquiries from clients.