Settlement Services Specialist

About the role

First Abu Dhabi Bank is hiring a Specialist, Settlement Services in Abu Dhabi. The role covers daily monitoring and processing of settlement processes across domestic, regional and international markets for equities, mutual funds, fixed income, hedge funds, structured funds, ETFs, securities lending and borrowing, local market short selling and more. It sits within the Position Management, Security/Cash Settlement and Corporate Actions area of the bank.

Key responsibilities

• Receive, validate and match client, market and sub-custodian instructions and ensure timely settlement across all markets
• Communicate with clients, counterparties, brokers, depositories, regulators and other stakeholders on settlement matters and support due diligence visits linked to settlement
• Provide first-level training for new specialists and help them handle inquiries
• Handle cash management for clients to enable smooth settlements and manage cash and FX settlement, reviewing and validating transactions and escalating mismatches to the VP
• Review and reconcile client positions and holdings daily with sub-custodians and the market, and monitor client cash positions for overdraft risk
• Validate SWIFT instructions and act as second level of SWIFT generation
• Perform second-level reconciliation and support ad hoc requests, projects, system upgrades and new client requirements
• Monitor KPIs, KRIs and capacity planning, ensure controls are followed and escalate incidents to the VP
• Take part in re-engineering processes to improve client delivery and reduce manual work

Required profile

• Ability to communicate clearly and present information confidently with colleagues and stakeholders
• Reliability in meeting deadlines and goals
• Comfortable challenging ideas while maintaining trusting relationships
• Adherence to departmental policies, SOPs and compliance and audit standards