Assistant Vice President - Custody Operations - Securities Services Operations (10-16 yrs)

2. JOB PURPOSE:

- Responsible for running daily settlements and Asset Servicing processes with adequate controls covering International, Regional and Local Markets of diverse products like equities mutual funds, fixed income, hedge fund, structured funds, ETF.

- Responsible for the end to end custody operations settlements operational processing activities in accordance with regulatory and compliance requirements, with an increased focus on accurate and timely execution to enhance the client experience.

- Communicate with VP and Head office Teams to understand complex settlements and asset servicing processes and accordingly training the staffs for the same to ensure timely accurate processing and client delivery wherever necessary as per custody business requirements.

- Ensure delivering quality of services as per international standards, using deep industry knowledge to create solutions to manage the complexity of the products and services being offered with par excellence.

- Ensuring successful settlements processing, avoiding loss and penalties to the bank and clients that could cause the bank Reputational, Financial and Operational Risk.

- Responsible to ensure all client's queries related to custody operations settlements and corporate actions have been responded within stipulated timeline and attending client's call to explain custody operations processing.

- Responsible to implement the processes for new products and any changes in existing markets settlement & CA procedures.

- Responsible for managing team, handling their appraisal and identifying training needed for each of them.

- Current offering of Department: Position Management, Security/Cash Settlement, Corporate Actions, Reporting, Invoicing, Reconciliation, Swift, Market Security Movement, Cash Management, Proxy Services, Tax Reclaims, Income Management. Planned expansion into support of Securities Lending, Client Short Selling, Claim Management, and other services.

- Support VP Securities Services (HO) in Review of system changes and upgrade, new clients SLA and SLD, Sub Custodian SLA, New Functions, Products, Market Rules Regulations and Procedures and Re-engineer and Design and implement settlement process, procedure and train the team for highest level of client delivery.

- Tracking of other custodian's offering in line with International best practices with clear understanding of client's requirements, adapting to rapidly changing business environment and client's requirements.

- Managing, training, guiding team members with the market / system changes, rules, regulations, and continuous mentoring and motivating each staff to work on their strength as well as weakness for their personal growth and career in line FAB's talent management.

- Ability to coordinate and work with SSO HO and concerned persons to manage Projects to Reengineer the process for excellence client delivery and reduce manual activities.

2. Job Context:

(Specific accountabilities unique for the role which are not covered in Section 4)

- Responsible for the end-to-end operational processing activity of Custody Operations focusing Settlement Services & Corporate Actions process in accordance with regulatory and compliance requirements, with an increased focus on accurate and timely execution to enhance the client experience.

- Ensure that the services provided to internal and external clients comply with FAB policies and the relevant laws and regulations and that Custody Operations - Settlements Team responds to changes in an appropriate manner and timeframe.

- Transaction Settlement: Monitor process and ensure timeliness and accuracy of processing. Responsible to resolve any discrepancies. If necessary, escalate to VP Securities Services Operations.

- Corporate Actions / Tax Reclaims/ Proxy: Monitor process and ensure timeliness and accuracy of processing. Responsible to resolve any settlement issues / discrepancies. If necessary, escalate to VP Securities Services Operations.

- Cash / FX Settlement: Monitor process and ensure timeliness and accuracy of processing. Responsible to resolve any settlement issues / discrepancies. If necessary, escalate to VP Securities Services Operations. If necessary sign any vouchers that need to be passed for FX / Cash execution.

- Position / Cash Management: Monitor process and ensure timeliness and accuracy reviews. Responsible to resolve any trade Settlement issues / discrepancies

- MIS: Responsible to produce MIS reports for the section and submit to VP Securities Services Operations.

- SWIFTS: Authorize swift instructions inputted and verified by specialists into the system as a Third Level (and Final) of SWIFT generation process so it can be released to counterparty.

- Reconciliation: Ensure and monitor that the reconciliation is completed timely and accurately and signing off on process.

- Filing: Ensure that filing is being done and archiving is being done.

- Ad Hoc Requests: Supporting the management as required for business as usual matters and projects and initiatives. Coordinate with management and business with any issues in the section and responsible to coordinate matters relating to the division (i.e. changes in the market, changes to procedures). Responsible for policies and procedures of the section. Training of staff and managing new hires.

- Staff: Responsible for the morale and motivation of the section. Providing on going feedback to team's staffs including the appraisals and managing section staff annual leaves and back up plans. Ensure all tasks for the team are completed timely and appropriately.

- Communication: With Management and Business via e-mail and phone, as well as counterparties and vendors.

- Risk Indicators: Responsible to ensure controls and procedures are being adhered to by the section. Monitor all KPIs, KRIs. Submit any incidents and issues to Manager for review. Monitoring transactions to ensure they are being processed according to Compliance / Audit standards (requirements).

Minimum Qualification:

- University Graduate / Bachelor's Degree (or 8 years related work experience)

Minimum Experience:

- 8+ years related experience in security services and / or back office operations eg managing securities settlements /corporate actions

- Solid understanding of security services and operations and accounting activity related to security services

- Ability to achieve business objectives without compromising controls and risk parameters established

- Strong execution skills in a multi-tasking mode and follow-up effectively

- Self-starter with excellent attitude, communication and interpersonal skills

- High level of accuracy & attention to detail.