Specialist- Wealth Investment Services

The Specialist is responsible for ensuring that client on-boarding and investment trades and maintenance on the bank’s books are in compliance with the UAE Central Bank guidelines and Bank’s policies and procedures. The role holder is also responsible for ensuring that customer and investment details are captured and maintained in a professional, accurate and meaningful manner.

KEY ACCOUNTABILITIES :

• Increase in process efficiency
• Improvement in TAT
• Positive internal Audit / RMU rating
• Feedback from RMs & Sales Co-ordinators by way of Client Satisfaction Index scores.
• Adherence to policies, processes, and procedures of FAB and CBG

Job Context

Primary Responsibilities

• Ensure adherence to agreed / approved SLA and TATs
• To reconcile units of all Fixed Income Securities, Mutual funds and other products, with the providers / settlement providers
• Ensure that operational activities are executed within allotted budget and timelines.
• Conduct regular operational reviews and audits and undertake preventive maintenance.
• Provide guidance to staff in resolving operational issues and problems.
• Collaborate with other team leaders to develop best practices for improved productivity and efficiency across consumer banking operations.
• Delegate tasks to members of the operations team within the FAB delegation of authority matrix.
• Additional tasks assigned by the Department Supervisor / Manager.

Secondary Responsibilities

• Signature verification on WM Trade documents / customer requests
• Processing recorded Callback to WM customer for Fund Transfer instructions received on Fax.
• Process Fixed Deposit requests raised by the sales team on BPMS.
• UAT in Alpha UAE / SNG and other applications
• Authorising transfer of funds and funds Block / Unblock for internal trades only.
• Processing corporate actions, RM Mapping and all activities on Citrix
• Authorising of the Investment Subscription and Redemption documents for both UAE and Singapore customers
• Security transfers from / to Other Banks to UAE / SNG
• Stock obligation and Pick / Apply / AMC Checker in Alpha UAE & Singapore
• Ensure the trade confirmations are sent for subscription / redemption on settlement date
• Document Verification to ensure all documents are in order as per audit and compliance regulations to place the deals in Alpha system.
• Performing ICCS inward cheque referrals for wealth customers.
• Authorising Singapore Account Opening, closing and Maintenance
• Archival and record management in accordance with the relevant procedures.
• Funds transfer to Providers for Other Products & Mutual Funds.
• Ensuring that the NRE Letters of Intent / Lien Confirmation Letters are received from RCAD / Providers.
• Authorise opening of Investment accounts
• Call back validation for deals
• Checking the fund transfer for crediting / debiting Vostro accounts for dividends and coupons.
• Checking the fund transfers for manual coupon and dividends proceeds.
• Escalation for all the issues with FAB IT to sort Alpha and Portfolio statement issues
• Checking the manual file for executed deals and PD charges through SMS / Email and then sending to relevant teams in FAB
• Verification of Balance Confirmation Letter / Reference Letter / Investment Confirmation Letter
• Managing the Deferral cases

Internal Collaboration

• Develop positive relationships with inter connected departments (RCAD, Products, Banca- assurance, IT, Sales Co-ordinators) in order to provide better service and meet customer expectations and to delivery timely and effective level of client experience.
• Coordinating with Internal users and IT team with regards to system issues and resolving them in order to enhance the system.

Policies, Systems, Processes and Procedures

• Implements departmental policies, systems, and procedure so that all relevant procedural / legislative requirements are fulfilled while delivering a quality and cost-effective service.
• Contributes to the identification of opportunities for continuous improvement of systems, processes, and practices while taking into account ‘international leading practice’, improvement of business processes, cost reduction, and productivity improvement.

MIS and Reports

• Supervises and manage the preparation of timely and accurate sub-departmental statements and reports to meet FAB’s and departmental requirements, policies, and standards.

Qualifications

• Minimum - a Bachelor’s Degree in Finance / Accounts / Business Management or equivalent
• Preferably 6 years of experience in a bank / financial institution with exposure to wealth / consumer operations and account services preferably in a multinational, with at least 2 years in a similar position
• Speed, accurate and effective communication skills in both verbal and written presentation and correspondence
• Adaptability to new policies, process and environment with sound knowledge of Consumer Banking and wealth management products and processes.