Senior Manager - Middle Office, Collateral Management and Clearing Operations
National Bank of Kuwait
Total years of experience :13 years, 11 Months
Responsibilities:
• Accountable for Bilateral Collateral Management, Middle Office and Clearing Operations.
• Provide Middle Office operations and systems knowledge to ensure the successful execution of Middle Office daily workflows.
• Process, reconcile, investigate and monitor margin calls; oversee adequate trade recordings and margin call processing in Murex and Bloomberg system. Reconcile trade confirmations against recordings using Murex reports.
• Utilized Murex Systems for processing of trade transactions, margining transactions, reporting and IRS hedge processing.
• Maintain communication with internal (Front Office, Treasury Operations, Market Risk, Group Financial Control, International Banking Division, NBK Locations) and external (Clearing Agents, Collateral Management Agents, Counterparty Banks) stakeholders.
• Analyze and resolve collateral/ margin disputes with Collateral Agent and Counterparties as well as resolve valuation disputes with Clearing Agent and Counterparties.
• Manage a team of high-performing professionals across Clearing and Collateral functions including performance management, coaching, escalation, capacity management etc
• Provide quality support for respective daily margining processes and controls as well as assist with ongoing and ad-hoc initiatives pertaining to collateral management.
• Ensure Middle Office workflow activities and Collateral operations follow established risk controls and are in compliance with applicable rules, regulations, policies and procedures.
Responsibilities:
• Maintained detailed records of investments (portfolio management); managed collection, invoicing, incentive feed and reimbursable expenses for portfolios and funds.
• Oversaw transaction processing, internal/ external client support and service of Defined Contribution/ Defined Benefit plans for assigned institutional clients.
• Ensured comprehensive procedures and controls are in place; concluded business with complete capture, recording and settlement of all required trades by end of day daily.
• Monitored the work in progress and daily transaction volume via various daily/ weekly/ monthly management information and control reports.
• Managed market data validation in Bloomberg and Reuters systems.
• Analyzed processes and provided inputs to the IT team for enhancing automation accuracy and system performance.
• Performed reconciliation of assets held as per Markaz systems with external record-keepers (custodian bank, transfer agent etc.) and with other internal records (e.g., vault log), thereby validating custody of assets.
• Provided portfolio and fund information to product manager, clients and 3rd parties, such as CMA, custodians and banks.
• Rectified operating errors and ensured appropriate action to minimize any financial loss and to prevent occurrence.
Responsibilities:
• Supervised a team of 5 members for managing OTC Collateral and Settlement Operations including calculation, issuance, agreement and settlement of margin calls relating to OTC portfolios.
• Provide collateral management/ reconciliation support to internal and external clients, including monitoring collateral inflows from counterparties, facilitating margin dispute resolution between parties and verifying delivery of collateral to clients and brokers.
• Ensured the availability of posted collateral securities in Markets Euro clear and Clear stream systems; investigated eligible collateral disputes referring to ISDA CSA documentation.
• Oversaw margin movements like IM, VM and PAI amounts booked by the associates; validated and ensured all margin calls are issued on a timely basis.
• Developed a Dispute Workflow tool to determine margin requirement, MIS & root cause analysis for dispute events.
Responsibilities:
• Responsible for managing settlements of CCYs for internal trades; coordinated various activities of the team related to trade processing and regulatory reporting, confirmation of trades, settlements and cash processing.
• Managed the nostros settlement process on daily basis (with average volume of 400-600 nostro breaks); concluded all types of Nostro break and post settlement issues as quickly and effectively as possible.
Responsibilities:
• Maintained close interaction with the business (Front Office, Sales and Middle Office) to ensure a seamless and quality service to the client.
• Responsible for real-time trade management, reconciling and resolving stock/cash position breaks on TLM and JPM systems.
• Worked as a SPOC for audit, knowledge transfer, resource allocation & BCP assignment.