Manager treasury, investment and remittance operations
Almasraf , arab bank for investment and foreign trade
Total years of experience :16 years, 8 Months
Al Masraf, Arab Bank for Investment and Foreign Trade
Manager -Treasury, Investments Operations and Remittance,
1) Treasury and investments Operations
The Treasury Operations division carries out support and control related activities for the Treasury Front Office and wealth management by processing, confirming and settling trades across Exchange traded and OTC Investments and Derivatives products.
Role Responsibilities:
Provide a comprehensive corporate service to the business focusing on:
o Delivering Projects
o Identify the gaps in the system and raise request with business to implement.
o Service / Business Planning/Follow up
o Acting as the business strategic adviser and coordinator
o Reduction of Cost through Automation
• Manage the Business Transformation of Treasury and investments operations to bring efficiency, enhancing the controls in the system and managing the projects
• To be responsible for the planning, management in an efficient and effective manner with particular focus on identifying and securing efficiencies and improvements in services across the business and meeting the wider efficiency agenda.
• To be responsible for coordinating with IT /discussing the requirement as per the business requirement and lead efficiency reviews/projects as appropriate
• To ensure that the Monthly/semiannually and annually plans are prepared, submitted & managed effectively to meet the deadlines
• To be responsible for minimizing the manual effort and bring efficiency in the unit by automating and building controls
• To undertake and manage major projects and ad hoc assignments as requested by the senior management.
• To be responsible for managing the UAT’s as per the timeline in coordination with the team
2) Remittance
• Manage the centralized operations activities,
o Treasury and Investment Settlements
o SWIFT Operations (Technical & Administration)
o Remittances
o Cash Management
o FD Maintenance
o DMCC, Islamic trade flow for retail and corporate clients
• Implement objectives, policies and procedures manuals for remittance department
• Ensure proper check and balance approach for the centralized processes
• Review requirements of business units in terms of operations support and discuss in details with concerned business units and branches
• Execute projects related to operations, ensure their timely completion, achievement of objectives and cost efficiencies
• Execute transactions within pre-set standardized turnaround time for all operations activities and service level agreement with business units and achieve efficiency and cost benefits
• Ensure that all transactions processing is in compliance with regulatory and bank policies and procedure and standard with prompt intervention to resolve problems with the concern area including AML
• Manage maintenance of record, documents and create archival system for easy retrieval
• Direct, train and motivate subordinates to perform to consistently high standards in a team environment
• Prepare regular reports/MIS and analysis for senior management for effective monitoring and control
• Manage the UAT testing and related signoff in the unit, in the event of a launch of a new product/system
• Review audit observations and improve audit rating
• Assist head of operations in achieving departmental goals
Deputy Manager Treasury, Investment Operations and Remittance
• Performing end to end trade settlements of Equities, Bonds, FX’s etc for Fund Manager’s trading in GCC & MENA region.
• Pre matching trade tickets along with trade confirmations from Brokers & Market file and updating the same in the portfolio management system.
• Payments to brokers & custodians for the purchase & sale of securities via swift & ensuring smooth settlement before the local & international market deadlines
• Instructing trades to sub-custodians via swift before the cut off time.
• Confirming timely input of all the instructions on systems like Euro clear, Swift, Advent (Portfolio Management System, Megara & Intellect (Core Banking System) etc
• Processing Foreign Exchange transactions for covering the funds & making payments to Brokers & Custodians.
• Collecting Coupon & Dividend from Euro clear Bank & MENA Region and paying back to the clients.
• Collecting Custody fees, Management fees etc from the clients and crediting the bank accounts.
• Updating trades, cash injections, withdrawals, cash dividends and other portfolio related actions on the system.
• Reconciling cash and custody statements with all the clearing agents’ records and internal accounts on daily basis.
• Daily reconciling stock positions as per Broker statements, Market files and internal records for accurate reporting of stock positions to Asset Management Group for trading purpose.
• Liaising with the brokers in case of trades mis match & following up until resolved
• Process issuance/amendment requests and insure that its done in accordance with A & O M manual requirements and related international rules and practices as well
• Input transactions data to the Trade Finance automated System (Eximbills) swift messages, advices and letters
• To work closely with the Section Head to ensure that the operations objectives and initiatives are met and the operational problems are resolved promptly and effectively.
• Preparing foreign exchange deals & handling the foreign and local guarantes commission,
• Commission claiming to foreign and local bank
• Payments of commission due
• Handling/investigations all queries related to commission and guarantees.
• To continuously challenge processing, making recommendation based on day to day experience to maximize automation opportunities whenever possible to improve work flows and cost efficiencies and reduce operational risks
• Balancing of amortizations account daily and monthly balancing of all accounts receivable in all currencies
• Preparing aging analysis reports of all commission receivable entries in all currencies
• Maintaining and updating the client portfolio on regular basis
• Correspondence with external Parties
• Extracting Bloomberg tickets
• Trade validations in murex
• Putting settlement instructions in EUROCLER and CLEARSTREAM system
• Preparing the trade confirmations
• Preparing the cash report
• Coordinating with external auditors
• Reconciliation/investigations of all outstanding issues
• Preparing manual payments MT 202 and Euroclear swifts messages MT210 and MT200
• Updating profit and loss account on daily basis
• Handling/investigating all queries regarding FX, MM, IRS, fund transfer and ADX
• Correspondence with external Parties
• Internal control of all transactions processed align with compliance
• Handling and follow up on claims ( late receipt and late payment)
• Error and breach report to compliance manager/higher management
• Coordinating with external auditors
• Error and Statistical Reporting
• Processing settlement of FX, MM deals
• Checking deals with the reuter conversations and deal confirmations( swift accord) to ensure deals input correctly in the system
• Reconciliation of all Nostro, overseas branches inter branch accounts and all subsidiaries accounts
• Central bank of UAE
• Advising and Confirmation of funds of Correspondents
• Swift follow up of all pending amounts and handling queries
• Handling External & Internal Audit NOSTRO related queries
• Coordinating with all departments of MashreqBank including Central Accounts Department, Central Processing, Treasury operation center, Financial Trade Centre, Financial Institution Division and Credit Risk management.
• Close Monitoring, Reporting and Escalation of all unresolved outstanding items to
the Branches / Departments & Division Managers across the Bank
• Preparing Ageing analysis to find out outstanding items
ACI (Treasury Operations Certificate) in 2012 - 98.75%
International Certificate in Wealth Management from CISI London in 2012 – 82.00%
International Certificate in Securities & Investments from CISI London in 2011 – 79.00%