Senior Manager - Middle Office Operations

Senior Manager - Middle Office Operations

Save job

My client, one of the regions biggest banks, is launching their Asset Management & Investment division within the Kingdom of Saudi Arabia.They are seeking a Senior Manager to lead the Middle Office Operations team, working closely with stakeholders within the Asset Management business like the SEO, Head of Investments, Head of Trading, Head of Real Estate & Head of Products as well as control functions like Compliance, Audit, Operations Risk and Wealth Management Risk.

The successful candidate will actively participate in the roll out of new products, supporting any regulatory adherence and reporting with respect to suitability and appropriateness for Investment activities. You'll be the central point of contact for Audit (coordinate for the Head of Operations for any audit related to Asset Management), compliance, risk, trading desk, real estate and products team.

You'll also be responsible for producing documented processes (initiation & completion) in respect of building and implementing new product approvals and maintaining and controlling existing processes, ensuring sign off from all parties (using the NPPA process) in the workflow and roll out. Provide independent governance reporting to IC and limit monitoring for managed funds and segregated accounts and Broker on boarding/annual review. You'll take the lead for any memo or documentation with respect to product/portfolio support.

Other responsibilites;

• Trade execution related governance and independent oversight on key control areas of the Trading desk.
• Responsible for the investment governance framework across all funds and mandates.
• Responsible for ensuring that policies and governance framework for the Asset Management Business are meeting the required standards.
• Responsible for the asset servicing, reference data and transfer function.
• Maintenance of Rules in Advent Rules Manager for funds and Segregated Managed Accounts
• Monitoring of Advent Rules Manager rules override (Investment Guideline Monitoring).
• Concentration monitoring across counterparties, securities, large investors.
• World Check on securities prior to set up and ongoing maintenance.
• Broker DD, onboarding and periodic documentation support.
• Risk Management - Monitoring of tracking error with escalation thresholds.
• Timely and accurate reporting to committees as per escalation matrix.
• Ensure portfolio / fund guidelines are clarified and implemented.
• Compiling data for fund fact sheets.
• Limit monitoring on Segregated Managed Accounts.
• Collaborate with Business in understanding their requirements and delivering middle office support to enable product rollout.
• Identifies areas of improvement in Processes and operational systems and pursues those improvements till its completion. This could be as projects which he participates in or as adhoc enhancements.
• Demonstrates a “Customer comes first” attitude by training and holding the team members accountable for delivering the right customer service whether internal or external. This is the key business proposition of any Private Bank to service the client in a special way catering to quality, sensitivity, confidentiality and timeliness on client requests.
• Develop, motivate and effectively manage subordinates to ensure high quality business support services. Encourage communication channels to increase team engagement.
• Ensure team development through regular training events and meetings with management for best practices.
• Establish vision, direction, and specific objectives for team efforts; encourage collaboration.
• Be the custodian of Standard Operating Procedures for the business.
• Engagement with auditors – be the central coordination point for the business.
• Manage risk oversight function in line with the risk mandate approved by the Board.
• Engagement in Operational Risk and Control Assessment in liaison with Group Operational Risk.
• Timely reporting of Ops loss / gain incidents to the group.
• Annual risk report submission to the Board in coordination with Group Risk.
• Compiling Internal Risk Assessment Process and Internal Capital Adequacy Assessment Process) documents annually for CMA.
• Overseeing the risk appetite statement for Asset Management – timely reporting of key risk metrics and management thresholds.

Salary: AED97939.55 - AED117527.47 per month

Salary: AED68557.69 - AED78351.64 per month

Come join our global team of creative thinkers, problem solvers and game changers. We offer accelerated career progression, a dynamic culture and expert training.