Securities Settlement Specialist - Custody Operations

First Abu Dhabi Bank; Abu Dhabi; On-site; AED 279,000 - 446,000; Full time

Job summary

First Abu Dhabi Bank (FAB) is seeking an experienced Securities Settlement Specialist to support custody operations across domestic, regional, and international markets. The role involves monitoring, validating, processing, and reconciling complex settlements across multiple asset classes, coordinating with clients, brokers, custodians, and internal teams to ensure accurate and timely settlement execution.

The incumbent will also handle cash and foreign exchange settlement, SWIFT instruction

Qualifications

• Minimum 5 years of relevant experience in securities services or back-office banking operations.
• Experience in securities settlement processing, corporate actions, or related securities operations.
• Strong knowledge of securities settlement processes and operational procedures.
• Experience handling high-value or complex settlement transactions with attention to detail.

Responsibilities

• Monitor and process daily securities settlement activities across domestic, regional, and international markets.
• Handle settlement transactions involving equities, funds, fixed income, ETFs, and other instruments.
• Validate settlement instructions from clients, markets, and sub-custodians and ensure accuracy.
• Coordinate with clients, brokers, custodians, and internal teams to resolve discrepancies and ensure timely settlement.

Skills

Securities settlement knowledge

Cash and FX settlement

SWIFT instruction validation

Operational risk monitoring

Client coordination

Regulatory compliance

Education

Bachelor's degree

Job description

Securities Settlement Specialist - Custody Operations Job Snapshot

Role: Securities Settlement Specialist - Location: Abu Dhabi, United Arab Emirates - Industry: Banking - Function: Banking Operations - Experience: 5 years - Job Type: Full Time - Work Arrangement: On-site

First Abu Dhabi Bank (FAB) is seeking an experienced Securities Settlement Specialist to support securities services and custody operations across domestic, regional, and international financial markets. The role is responsible for monitoring, validating, processing, and reconciling complex securities settlement transactions across multiple asset classes, including equities, mutual funds, fixed income, hedge funds, structured funds, exchange-traded funds (ETFs), securities lending and borrowing, and local market short selling. The successful candidate will coordinate with clients, brokers, custodians, counterparties, market participants, and internal banking teams to ensure accurate and timely settlement execution. The position also involves cash and foreign exchange settlement, SWIFT instruction validation, position reconciliation, operational risk monitoring, and participation in process improvement initiatives. The role requires strong securities operations knowledge, attention to detail, and the ability to manage high-value transactions while maintaining regulatory compliance and operational controls.

Job Details

Country: United Arab Emirates - City: Abu Dhabi - Industry: Banking - Function: Banking Operations - Salary: Not disclosed - Gender: No Preference - Candidate Nationality: Not specified - Job Type: Full Time - Work Arrangement: On-site

Key Responsibilities

Securities Settlement Operations

• Monitor and process daily securities settlement activities across domestic, regional, and international markets.
• Handle settlement transactions involving equities, mutual funds, fixed income instruments, hedge funds, structured funds, and ETFs.
• Support settlement activities related to local and international securities lending and borrowing and local market short selling.
• Receive and validate settlement instructions from clients, markets, and sub-custodians.
• Verify transaction details and ensure settlement instructions are complete and accurate.
• Monitor trade matching and settlement progress across relevant markets.
• Ensure settlement transactions are completed within applicable market deadlines.
• Investigate settlement discrepancies and coordinate their resolution with relevant parties.
• Maintain accurate transaction records and support timely settlement reporting.
• Process client instructions in accordance with regulatory requirements and established operational procedures.

Cash and Foreign Exchange Settlement

• Review and validate cash and foreign exchange settlement transactions entered by officers or other specialists.
• Verify transaction information before forwarding it to the Vice President (VP) for review.
• Identify transaction mismatches and error discrepancies to the VP.
• Monitor settlement transactions on their scheduled settlement dates.
• Confirm successful settlement execution and completion of appropriate accounting entries.
• Review and validate vouchers required for cash and foreign exchange execution before VP review.
• Coordinate with relevant internal teams to address cash settlement issues.
• Support accurate and timely execution of client-related cash and foreign exchange instructions.

Position and Cash Management

• Review client securities positions and holdings on a daily basis.
• Reconcile client positions against sub-custodian and market records.
• Identify position discrepancies and resolve unresolved matters to the VP.
• Monitor daily client cash positions to assess settlement funding requirements.
• Identify potential overdrafts and insufficient funding situations.
• Escalate funding concerns to the VP and Middle Office.
• Support effective cash management to facilitate settlement across relevant markets.
• Maintain accurate position and cash records to support operational controls.

SWIFT Messaging and Instruction Validation

• Review SWIFT settlement instructions entered by officers or other specialists.
• Validate message information before submission for VP authorisation.
• Perform second-level checks within the SWIFT instruction generation process.
• Apply knowledge of securities settlement SWIFT message formats and their operational use.
• Ensure SWIFT instructions are accurate and consistent with transaction requirements.
• Identify and expedite messaging discrepancies that may affect settlement processing.

Reconciliation and Transaction Control

• Perform second-level reconciliation checks for relevant securities and cash transactions.
• Verify settlement information against applicable records and transaction instructions.
• Investigate discrepancies identified during reconciliation activities.
• Escalate unresolved reconciliation matters to the VP.
• Confirm the appropriate settlement of securities, cash, foreign exchange, corporate action, and tax reclaim transactions.
• Maintain accurate records supporting transaction verification and reconciliation.
• Apply established quality control procedures throughout settlement processing.

Client Service and Market Coordination

• Respond to internal and external client inquiries relating to securities settlement activities.
• Provide accurate settlement information in accordance with market rules and operational requirements.
• Coordinate with clients, counterparties, brokers, custodians, sub-custodians, depositories, and market participants.
• Communicate with paying agents, issuers, regulators, and other relevant stakeholders when required.
• Ensure trade status updates and settlement instructions are communicated within appropriate timelines.
• Support client and sub-custodian due diligence activities related to settlement operations.
• Maintain effective relationships with internal departments and external service providers.
• Support the implementation of new client requirements and service arrangements.

Operational Risk and Compliance

• Ensure settlement activities comply with relevant regulatory, compliance, and audit requirements.
• Follow established departmental policies, standard operating procedures, and operational instructions.
• Monitor transaction processing to identify potential financial, operational, and reputational risks.
• Apply appropriate controls when processing high-value or complex settlement transactions.
• Monitor key performance indicators (KPIs), key risk indicators (KRIs), and operational capacity requirements.
• Identify incidents, processing issues, and control weaknesses and submit them to the VP for review.
• Ensure established controls and quality assurance procedures are followed consistently.
• Support the prevention of settlement failures, financial losses, and penalties affecting the bank or its clients.
• Maintain professional conduct in accordance with FAB 's organisational values and ethical standards.

Systems, Projects and Process Improvement

• Participate in securities operations projects, system upgrades, and processing enhancements.
• Support system testing, including testing activities outside normal working hours when required.
• Assist with implementation activities involving new clients, products, functions, and market requirements.
• Support the implementation of client and sub-custodian service level agreements (SLAs) and service level descriptions (SLDs).
• Review settlement procedures in response to market developments and regulatory changes.
• Identify opportunities to reduce manual processing and improve operational efficiency.
• Coordinate with internal departments and external stakeholders on process improvement initiatives.
• Support operational enhancements relating to securities lending, borrowing, and other custody services.
• Contribute to projects involving corporate actions and related securities operations.
• Recommend improvements that strengthen transaction controls, service quality, and processing accuracy.
• Participate in initiatives aimed at improving productivity and reducing operational costs.

Operational Reporting and Team Support

• Prepare accurate and timely operational statements and reports in accordance with departmental requirements.
• Monitor settlement activity and provide relevant updates to internal stakeholders.
• Support the VP with daily operational matters, projects, and assigned initiatives.
• Provide first-level training and guidance to new specialists.
• Assist colleagues in resolving operational inquiries and settlement processing issues.
• Maintain effective communication with team members and relevant departments.
• Support operational continuity during periods of increased transaction volumes.
• Contribute to continuous improvement in service delivery and operational performance.

Required Qualifications and Experience

Education

• University graduate or bachelor 's degree holder.
• Five years of related work experience may be considered as an alternative to a university degree.

Professional Experience

• Minimum 5 years of relevant experience in securities services or back-office banking operations.
• Experience in securities settlement processing, corporate actions, or related securities operations.
• Understanding of securities services, custody operations, and associated accounting activities.
• Experience handling financial transactions requiring accurate processing and reconciliation.
• Ability to manage multiple operational responsibilities while maintaining established controls.

Technical and Operational Skills

• Strong knowledge of securities settlement processes and operational procedures.
• Understanding of domestic, regional, and international securities market activities.
• Knowledge of securities positions, cash management, and reconciliation processes.
• Familiarity with transaction validation and settlement instruction requirements.
• Understanding of operational risk controls and compliance requirements.
• Ability to identify transaction discrepancies and coordinate appropriate follow-up actions.
• Strong execution skills and ability to monitor tasks through completion.
• High level of accuracy and attention to detail.

Professional Competencies

• Ability to work effectively under pressure and manage competing priorities.
• Strong organisational and time management skills.
• Ability to meet operational deadlines and maintain processing accuracy.
• Effective verbal and written communication skills.
• Strong interpersonal skills and a collaborative approach to teamwork.
• Ability to work independently and take initiative when addressing operational matters.
• Sound judgment when identifying risks and escalating issues.
• Commitment to achieving business objectives without compromising established risk controls.
• Ability to maintain effective working relationships with internal and external stakeholders.

Preferred Qualifications and Experience

• Previous experience in specialised securities services functions would be an advantage.
• Experience in securities settlement operations.
• Experience in corporate actions processing.
• Experience in securities client services.
• Experience in securities data maintenance and billing.
• Experience in custody account opening procedures.

About the Company

First Abu Dhabi Bank (FAB) is a major financial institution headquartered in Abu Dhabi, United Arab Emirates. The bank serves individuals, businesses, and institutions across the UAE and international markets, with a presence in more than 20 markets spanning five continents. FAB provides a range of banking and financial services, including corporate banking, financial markets, and securities-related services. The bank supports its customers through financial expertise, market connectivity, and established banking operations. FAB invests in employee learning, professional development, and Emiratisation programmes. Through its partnerships and community initiatives, the bank also supports education, entrepreneurship, and financial literacy. FAB promotes an inclusive workplace that values diverse perspectives. In December 2021, the bank became the first UAE and GCC bank to join the Net Zero Banking Alliance, committing to achieve net zero emissions by 2050.