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Financial Settlements Specialist

2 months ago


Abu Dhabi, Abu Dhabi, United Arab Emirates Arab Monetary Fund Full time

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.