Specialist - Clearing Operations

Abu Dhabi Securities Exchange; Abu Dhabi; On-site; AED 80,000 - 150,000; Full time

Job summary

An established industry player is seeking a skilled professional to provide specialist support in clearing operations. This role involves managing efficient and compliant operations, ensuring market stability, and adhering to regulatory standards. You will lead a team, provide training, and collaborate with various stakeholders to enhance processes. If you have a strong background in finance and risk management, along with a passion for maintaining high standards in a dynamic environment, this opportunity is perfect for you. Join a forward-thinking organization committed to excellence in the financial sector.

Qualifications

• 7 years of experience in Securities or Stock Exchange required.
• In-depth knowledge of clearing and settlement processes essential.

Responsibilities

• Manage clearing operations and ensure compliance with regulations.
• Collaborate with stakeholders to uphold clearing process integrity.

Skills

Risk Management

Financial Analysis

Regulatory Compliance

Team Leadership

Documentation Management

Education

Bachelor's degree in Finance

Certification as a CFM

Tools

Clearing Systems

Financial Market Software

Job description

Provide specialist support to conduct and monitor the efficient and compliant operations of Abu Dhabi Clear’s (AD Clear’s) clearing system, through meticulous administration of clearing related activities, system settings, margin calls, and collateral, ensuring market stability and integrity in adherence to defined risk guidelines and regulatory standards.

Key Accountabilities:

Provision of Specialist Support

• Contribute to the planning and organizing of the work for junior team members to support the timely achievement of unit objectives in line with quality standards.
• Provide on-the-job training and constructive feedback to assigned teams to support their overall development.
• Promote the organization’s values and ethics in all activities within the team to support the establishment of a value-driven culture within the organization.
• Provide input and implement policies, systems, and procedures for the assigned team so that all relevant procedural requirements are fulfilled.
• Maintain accurate documentation of clearing procedures, policies, and guidelines, and update them as necessary to reflect changes in regulatory requirements or market practices.

Clearing Operations Management

• Collaborate with various internal and external stakeholders to uphold the integrity of the clearing process and mitigate risks associated with clearing related activities (including trade and position management), reinforcing ADX's commitment to upholding the highest standards of regulatory compliance and market integrity.
• Execute and monitor the clearing and settlement of trades in accordance with established procedures and regulatory guidelines.
• Lead/conduct daily reconciliations of trading positions, cash flows, and margin requirements to identify and resolve discrepancies promptly.
• Collaborate with the ADX Technology & Digital team to identify opportunities for system enhancements and improvements to streamline clearing processes.
• Provide assistance and support to member firms on clearing-related inquiries, including trade and position management, margin calculations, trade settlements, and collateral management.
• Provide specialist support in configuring the defined ADX systems related to clearing operations, by setting up instruments, accounts, margin/risk parameter etc., enabling a robust and efficient clearing process.
• Collaborate with internal departments to ensure seamless operations and the execution of transactions without errors, contributing to the overall reliability and success of the AD Clear's clearing operations.
• Ensure that all functional reports are completed promptly and comply with departmental policies and standards.

Risk and Business Continuity Management

• Contribute to the effective implementation of corporate policies, procedures, and processes to promote a culture focusing on the achievement of world class standards in risk management, Quality, Health, Safety, and Environmental (QHSE) management, and business continuity in line with regulatory requirements.
• Monitor all clearing related activities and management operations within the AD Clear clearing system, ensuring the integrity and accuracy of post-trade processing and settlement.
• Manage day-to-day system activities related to the clearing system, including setting daily and final settlement prices, running mark-to-market evaluations, and executing clearing cycles, maintaining market stability and confidence.
• Issue margin calls to clearing members and oversee the management of collateral deposited by them, ensuring sufficient liquidity and risk mitigation within the clearing process.
• Monitor banking instructions for all fund movements, promptly identifying and addressing any delays or discrepancies in payment processes to uphold financial security and operational efficiency.
• Assess and manage risks associated with clearing operations, including credit, market, and liquidity risks.
• Ensure compliance with relevant regulatory frameworks, including reporting requirements, margin regulations, and financial market directives.
• Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.
• Monitor industry developments and regulatory changes impacting clearing operations and recommend appropriate actions to ensure compliance and operational efficiency.

Minimum Qualifications & Experience:

Educational and Professional Qualifications:

• Bachelor's degree in Finance, Economics, Business Administration, Business Operations Management, or a related field.
• Certification as a CFM (Chartered Financial Analyst) is preferred.
• In-depth knowledge of clearing and settlement processes, including familiarity with central counterparty (CCP) mechanisms, trade lifecycle, and risk management principles.
• Strong understanding of financial market regulations, and relevant directives.

Overall Experience:

• 7 years’ experience in Securities / Stock Exchange, or within a similar sector.

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Other