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Finance Lead Specialist 27 views

Role Purpose:

 

  • Adding Value to ADIB Securities operations & Finance division and actively performing to achieve the unit’s assigned goals and objectives.

 

Key Accountabilities of the role:

  • Process daily remittances to/from UAE settlement banks to avoid settlement failures.
  • Maintain clients’ balances in different currencies and ensure segregation of client accounts at all times.
  • Posting daily clients’ deposits/withdrawals accounting entries in different currencies.
  • Daily reporting of Clients Aging & follow up on payments/collections.
  • Perform daily reconciliation of banks balances in different currencies, and define variances.
  • Close monitoring of company’s wakala deposits with ADIB treasury & process new placements/ renewals.
  • Processing new/renewal of Margin Trading clients’ applications.
  • Maintain accurate calculation of monthly profit accrued on each Margin Trading client and pass the necessary accounting entries.
  • Follow up the collection of monthly margin trading profit amounts accrued on each client and process the relevant accounting entries.
  • Initiate the collection process of monthly fees from clients on each services utilized “online trading fees, live pricing fees for foreign markets, etc” and pass the relevant accounting entries.
  • Processing and daily monitoring and reconciliation of comingled clients’ accounts in different currencies with custodians and in foreign jurisdictions.
  • Monitor exchanges as well as vendors’ invoices, accruals and payments in coordination with FCD.
  • Preparing end of month SCA regulatory financial reports.
  • Work closely with FCD on daily & monthly basis, on interim & year end financial audits.

 

Specialist Skills / Technical Knowledge Required for this role:

  • Candidates with Accounting/Finance/Business Administration background.
  • Flexibility to work in weekends, official and national holidays is a must.
  • Solid understanding of SCA & Exchanges rules & regulations and products.
  • Adequate knowledge & understanding of GAAP/IFRS.
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