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Financial Settlements Specialist
2 months ago
Position Overview
The Arab Monetary Fund (AMF) is a prominent regional financial institution with a mission to foster monetary cooperation and economic development across Arab nations. We are seeking a Financial Settlements Specialist to join our Finance Department.
Core Responsibilities:
The selected candidate will be entrusted with a variety of critical tasks, including:
Transaction Settlement:
- Accurately and promptly settle financial transactions, encompassing payments, securities, and derivatives.
- Reconcile settled transactions with precision and address any discrepancies in collaboration with the Settlements Division Chief.
- Ensure the completeness of data and adequacy of supporting documentation for investment transactions.
- Timely follow-up on all investment dues and facilitate transfers from the sending account to the secure account in partnership with the investment department.
- Monitor and escalate any differences or issues related to contractual terms with correspondent banks to the department director.
- Dispatch outgoing trade confirmations for all Treasury transactions and ensure they match incoming confirmations from counterparties.
- Execute payment and receipt instructions automatically through the settlements system within designated timeframes.
- Oversee the collateral activities of all active CSA contracts daily and coordinate with the Treasury and Direct Investment Division regarding cash requirements.
Settlement System Oversight:
- Conduct monthly tests of the backup operating system in conjunction with the IT Division.
- Ensure the seamless operation of the SWIFT system and maintain effective communication with relevant organizational units as per guidelines.
- Enhance the performance of information systems related to settlement operations in collaboration with specialized units.
Compliance and Risk Oversight:
- Identify and evaluate risks associated with settlement processes and implement strategies for risk mitigation in coordination with the Settlements Division Chief.
- Ensure that all settlements adhere to financial regulations and standards.
Business Process Improvement:
- Contribute to identifying enhancements to the Division's policies and implement procedures and controls to ensure compliance with all relevant regulatory requirements while delivering high-quality, cost-effective results.
- Identify opportunities for continuous improvement in systems, processes, and practices, focusing on best practices, cost reduction, and productivity enhancement.
- Conduct daily activities in accordance with established policies and procedures.
- Assist in identifying strengths and areas for improvement in the division's process manual and share insights with the direct supervisor.
Stakeholder Engagement:
- Collaborate with relevant internal departments and external stakeholders, such as banks, to support the achievement of the Accounts Division's objectives.
- Stay informed about market developments, business opportunities, and the regulatory landscape to enhance stakeholder management capabilities in alignment with AMF's strategic goals.
Additional Responsibilities:
- This job description outlines typical duties performed by the jobholder. Additional responsibilities may be assigned by management as needed.
Qualifications and Experience:
Educational Background:
- Bachelor's degree in finance, accounting, or a related discipline.
- Professional certifications such as CAMS or CFA are preferred.
Technical Proficiencies:
- Data analysis capabilities.
- Knowledge of regulatory compliance.
- Proficiency in relevant systems.
The Arab Monetary Fund offers competitive employment terms in accordance with applicable policies, including a tax-free salary, housing allowance, furniture allowance, air ticket allowance, education allowance, and life and medical insurance.
Only shortlisted candidates will be contacted.