Treasury Operations Specialist

Job Purpose

To handle the back-office functions, including processing and settlement of transactions while ensuring accuracy and timely execution, and to ensure proper generation of daily, weekly, and monthly reports. Reconciliations of cash positions and reporting discrepancies between executions and positions are needed to prevent any potential loss to ICIEC and support in the proper accounting of the investment transactions.

Key Responsibilities

Core Responsibilities

Money Market Settlement

 Process/validate deal tickets in the Treasury Operating System (Fusion Invest-MISYS) and ensure accuracy of all execution details on given value dates and before the cut off times.

 Generate the Swift messages using the Treasury Operating System and confirm their accuracy before their release.

 Ensure timely and proper exchange of documents/confirmation (By email or Swift message) as per instruments used and signed agreement with each counterparty.

 Interact with counterparties for timely submission of investment confirmations and follow approved escalation level in case of delayed confirmations.

 Ensure the proper sequence in sending and receiving the documents/schedules.

 Review the weekly maturity reports and issue notices to receive relevant Swift messages (MT210s).

 Check and monitor the Confirmation blotter in the Treasury System.

Sukuk Settlement

 Settlement of new sukuk purchase through the custodian account (Euroclear/Clear Stream) after all necessary approvals have been obtained and confirming the details of the security purchased to be accurate.

 Process/Validate deal tickets in the Treasury System and ensure accuracy of all generated Swift messages (MT202, MT210, MT541, MT543, etc.)

 Interact with counterparties for timely submission of investment confirmations and follow approved escalation level in case of delayed confirmations.

 Monitor and process the coupon (and any other profit distribution) payments in the Treasury System and with both Nostro and custodian accounts.

 Generate and monitor all distributions-related Swift messages (MT202, MT 210 etc.)

Non-Investment related settlements

 Process/Validate settlement instructions (BCM + SWIFT) after validating required approvals.

 Ensure documentation of all settlements including swift settlement confirmation.

 Interact with counterparties and banks for timely submission of confirmations and follow approved escalation level in case of delayed settlements.

FX Settlement

 Settlement of FX purchase/sell transactions with counterparties.

 Process/validate deal tickets in the Treasury System and ensure accuracy of all execution details on given value dates and before the cut-off times.

 Generate relevant Swift messages using the Treasury System and confirm their accuracy before their release.

 Ensure using the correct SSI.

 Ensure availability of sufficient balances for any required transactions.

Nostro accounts management

 Daily monitoring of ICIEC nostro accounts and update the balances.

 Process / validate any fund manager request regarding replenish/transfer cash between Nostro accounts by processing the request.

 Double check and confirm all cash transfer requests in Swift.

 Ensure execution of all cash transfer on the correct value dates and before the cut-off time.

Reconciliation and Reporting

 Daily reconciliation of ICIEC nostro accounts and update the balances.

 Reconcile securities positions with the custodian account.

 Daily, weekly, and monthly reconciliation of transactions and preparation of reports.

 Reconcile all daily trading activities to ensure proper and timely settlement of all trades.

 Monitor static data maintained in the Treasury systems (SSIs, Top Level Issuer, etc) and follow proper processes to update them if needed.

 Ensure that all investment-related transactions and parameters are accurately reflected in MISYS.

Accounting for Investments

 Ensure proper records of investment transactions.

 Reconcile all investments positions.

 Reconciliation of income generated from investments.

 Support proper accounting of all investment positions.

ALM and other tasks

 Assist in managing the liquidity risk by monitoring cash flows and performing periodic liquidity gap analysis across the Corporation liabilities and assets.

 Prepare and reconcile Euro Net open positions with underlying records.

 Support the assessment of any interest rate, FX, and duration mismatch between the Corporation liabilities and assets.

 Participate in ad hoc tasks within the Department (such as: Annual Budget preparation, annual report preparation, financial projections, reconciliation, bank relationship etc.).

Job Requirements

Field of Study: Finance/Investment or any related field.

Academic Qualifications and Relevant Experience: 3 Years for Bachelor’s Degree holder or 1 Year for Master’s Degree holder.

Nature of Experience: Relevant experience in Islamic Treasury Back-office settlements.

Professional Certifications (as applicable): Relevant certifications such as ACI-Back Office, Certified Treasury Professional (CTP).

Business Language Skills: Good command of written and spoken English essential, additional languages such as Arabic, French is an added advantage

Key Performance Indicators

 Accuracy of reconciliations.

 Accuracy of settlements.

 Accuracy of review, validation and executed trades.

 100% compliance to DOA.

 Clarity of SWIFT policies and procedures.

WORKING CONDITIONS

Location: Jeddah, KSA

Travel Needed: No

Specific Working Conditions: NA

About Application Process

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

• Resume/CV
• Passport-size photograph