Financial Operations Manager

4 days ago

Abu Dhabi, Abu Dhabi, United Arab Emirates Abu Dhabi Securities Exchange Full time
Job Purpose

As a Collateral Operations Manager, you will play a critical role in ensuring the efficient and effective management of collateral assets at Abu Dhabi Clear (AD Clear). Your primary objective will be to oversee the development and implementation of collateral management strategies, policies, and procedures aligned with group risk management objectives, regulatory requirements, and best-in-class practices.

Key Accountabilities
  1. Strategic Contribution
  • Develop and implement collateral management strategies that align with AD Clear's overall risk management framework and ensure compliance with relevant regulatory requirements.
  • Evaluate and enhance the effectiveness of existing processes, identifying areas for improvement and implementing changes to optimize collateral utilization and minimize funding costs.
People Management
  • Lead and manage a team of professionals responsible for the daily operations of collateral management, providing guidance, support, and coaching to ensure they have the necessary skills and knowledge to perform their duties effectively.
  • Collaborate with other departments to develop and implement talent development initiatives, ensuring the availability of skilled staff to meet business needs.
  • Maintain a culture of excellence, integrity, and professionalism within the department, driving adherence to organizational values and ethics.
Budgeting and Financial Planning
  • Monitor and validate all departmental operations to ensure they are conducted within approved budget parameters, reporting any variances for managerial decision-making.
Policies, Systems, Processes & Procedures
  • Develop, implement, and maintain policies, procedures, and controls covering all aspects of collateral management activity, ensuring compliance with relevant legislative requirements and delivering a high-quality service.
Collateral Operations Management
  • Provide leadership and direction for collateral operations, including collateral allocation, monitoring, optimization, and reconciliation, ensuring adherence to established procedures and controls.
  • Oversee the daily management of collateral operations, evaluating and appraising collateral assets involved in trading to ensure optimal utilization and compliance with trading standards.
  • Determine acceptable collateral types and margin requirements, coordinating with Risk, Legal, and Compliance teams to ensure compliance with regulatory standards.
  • Manage the overall optimization of collateral utilization and allocation across various trading and clearing activities, maximizing efficiency while minimizing funding costs and liquidity risk.
  • Ensure accurate and timely calculation of margin requirements, collateral calls, and margin transfers in accordance with exchange rules and regulatory guidelines.
  • Manage timely reconciliation of collateral positions and transactions with counterparties and custodians, conducting regular audits and reconciliations to identify discrepancies and ensure data integrity.
  • Establish and maintain AD Clear's collateral eligibility standards for diverse types of collateral, ensuring a broad and secure collateral base.
  • Drive collaboration with custodians and financial institutions on AD Clear's collateral segregation and safekeeping procedures, enhancing security and integrity of collateral assets.
Risk and Business Continuity Management
  • Implement corporate policies, procedures, and processes to promote a culture of world-class risk management, QHSE management, and business continuity in line with regulatory requirements.
  • Oversee the management of collateral agreements, ensuring precise documentation and strict compliance with legal and regulatory frameworks.
  • Assess counterparty creditworthiness and collateral adequacy to mitigate credit risk and ensure the safety and stability of trading and clearing operations.
  • Administer AD Clear's margining obligations for clearing members and counterparties, optimizing financial stability and compliance with market regulations.
  • Oversee procedures for collateral liquidation and haircut application in instances of counterparty default, mitigating financial risk and safeguarding investment interests.
  • Monitor market trends and regulatory changes affecting collateral values and requirements, adjusting management strategies to optimize collateral utilization effectively.
  • Integrate Environmental, Social, and Governance (ESG) principles into collateral management strategies, promoting sustainability and responsible investing in alignment with global trends.
  • Formulate and implement strategies to enhance the efficiency of collateral use, aiming to reduce collateral requirements without compromising regulatory and risk mandates.
Stakeholder Relations
  • Collaborate with internal stakeholders to understand collateral requirements and optimize collateral management processes to meet their needs.
  • Engage with external stakeholders to build strong relationships and align with market needs and expectations.
Continuous Improvement
  • Identify opportunities for continuous improvement and sustainability of systems, processes, and practices, considering global standards, productivity improvement, and cost reduction.
  • Leverage advanced technology and collateral management systems to streamline operations, enhance accuracy of collateral valuation, and uphold regulatory compliance.
  • Use advanced analytics to scrutinize collateral data, discerning trends and producing detailed reports to inform strategic decision-making and risk management.
  • Establish efficiency metrics and benchmarks to consistently assess and elevate the collateral management process, striving for continuous improvement and operational excellence.

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