- 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.