Senior Manager - Middle Office

Job Description

Company Introduction

Emirates NBD is a market leader across the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 20 million customers. The Emirates NBD Group has a total of 853 branches and 4,213 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.89 billion.

At the bank, we serve our customers and help them realise their financial objectives through a range of banking products and services including retail banking, corporate & institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations.

We are a key participant in the global digital banking industry, with 97% of all financial transactions and requests conducted outside of our branches. We also operate Liv, the lifestyle digital bank by Emirates NBD. With close to half a million users, it continues to be the fastest-growing digital bank in the region.

Job Purpose

As a Senior Manager - Middle Office at Emirates NBD, your role is to…

Closely interact with stakeholders within the ENBD Asset Management business like the SEO, Head of Investments, Head of Trading, Head of Real Estate, Head of Products as well as other control functions like Compliance, Audit, Operations Risk and Wealth Management Risk. Participate actively in the new products roll out, any regulatory adherence and reporting with respect to suitability and appropriateness for Investment activities for ENBD Asset Management DIFC and KSA. Central point of contact for Audit (coordinate for the Head of Operations for any audit related to ENBD Asset Management), compliance, risk, trading desk, real estate and products team. 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 other responsibilities includes limit monitoring for ENBD Asset Management managed funds and segregated accounts and Broker on boarding/annual review, take lead for any memo or documentation with respect to product/portfolio support.

• Trade execution related governance and independent oversight on key control areas of the Trading desk. As the responsibilities of Trading desk includes to cover all markets, segments and products including derivative trading it is imperative to provide oversight on day-to-day trading activities that includes independent trade reconciliation between Order Management System and Market execution platforms and overall governance on trade execution. Work with Trading Desk on Broker and counterparty set ups, periodic review and limit monitoring as required.
• Responsible for the investment governance framework across all funds and mandates at ENBD Asset Management. This is a very important function that provides full and detailed management information across all investment related activities. This management information is directly sent to Senior Management and relevant committees at ENBD Asset Management and Retail Banking and Welath Management.This function includes daily monitoring of the trades executed, regular reporting to IC on any breaches and seeking approval accordingly from IC and SEO.
• Responsible for ensuring that policies and governance framework for the ENBD Asset Management Business across locations (DIFC and KSA) are meeting the required standards. This also includes in having the right SLA as required for the supporting the business. The job holder will assist in supporting Head of the Operations on collating details/information for other committees as may be required from time to time.
• Responsible for the asset servicing, reference data and transfer function within ENBD AM. This function includes recording, analyzing, notifying and processing of all corporate action events on all the securities held by the ENBD Asset Management funds and mandates. Further, oversee the reference data set up in the portfolio management system that serves critical role in valuation of client assets. In addition, also responsible for all portfolio transfers in and out both within and outside bank as required for the clients across ENBD Asset Management.
  
  

Responsibilities

On a day to day basis, you will…

• 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 DFSA.
• Overseeing the risk appetite statement for ENBD Asset Management – timely reporting of key risk metrics and management thresholds.
  
  

To be successful in this role, you will need the following skills and experience…

• Minimum Graduation, MBA/Post Graduation with Finance background would be an advantage.
• CISI IOC certification and specific products based certifications would be useful.
• Over 10 years banking experience in a investment operations role within treasury or asset management division with a reputed financial institution with strong understanding of capital market instruments and knowledge about derivative markets.
• Knowledge of asset management functions with specific experience in Middle Office.
  
  

What We Offer You

• Competitive salary package.
• Strong emphasis on work-life balance and wellbeing across the bank.
• Preferential banking facilities for employees.
• Generous annual leave entitlement and Private Healthcare.
• World-class Learning & Development platform and career development.