Operations and Settlement Associate

Job description / Role

Job Purpose
Will be the primary support of the Senior Operations & Settlement Officer with regard to back office operations. Will ensure that transactions of the Front Office are carried on appropriately and in accordance with prescribed policies and procedures. Will monitor and ensure fund movements between account following the instructions of the Customer Service and Brokers and will be primarily responsible with settlement functions.

1- Financial Operations
Assists the Senior Operations & Settlement Officer in ensuring integrity of financial operations of the business. Will Support the Finance and Operations department in producing reports, verifying information and reconciling balances. Review various accounting functions including accounts management, revenue accounting and collection monitoring.

2- Back Office Transaction
Responsible for back office transactions which include gathering client requirements from the customer service and marketing department, following up with the brokers and checking the client accounts on each transaction. Assists the Senior Operations & Settlement Officer in preparing regular reports to support daily trading transactions. Responsible in ensuring that regularity of transactions and for providing regular reports and confirmations to clients of the Company.

3- Documentation & Controls
Verifies and records documentation received from Customer Service Officers and Broker Representatives and ensures adequate controls are in place to identify and prevent insider trading.
Report Management /Reporting
Prepares and maintains management information reports summarizing daily transactions and formulate commission to be invoiced on each account. Develops periodic reports, financial plans and client reviews to be submitted to Head of Finance and Operation for his review. Monitors credit transactions vis-à-vis approved limits and submits reports accordingly to the Management.

4- MIS & Performance
Assists the Senior Operations & Settlement operations to develop and maintain management information systems (MIS) and to develop and maintain business performance management mechanisms for Al Ramz Securities.

5- Technical Assistance
Assists in providing technical assistance to the department and other department, such as conducting research on listed securities, managed funds, market conditions and government regulations.

6- Settlement
Will be responsible in preparing payments for settlement dues and compute daily net broker position for submission to the Top Management. Will be responsible in assisting the Head of Finance and Operations in ensuring that all settlement obligations are paid as and when required. Will deal with Brokers to obtain required approvals and arrangements with regard trading limits – increases or deviations.

7- Liaison
Effectively interact with all internal departments, Customer Service Team and Brokerage and Brach Offices.

Requirements

Functional
1. Financial and stock market trading business knowledge
2. High level understanding of back-office requirements in the same industry
3. High level communication skills in English and Arabic
4. Good analytical, judgmental and interpretative skills.
5. High level IT Skills

About the Company

Established as a Limited Liability Company (LLC) in 1998 and headquartered in Abu Dhabi, Al Ramz Securities, LLC. (RAMZ) is one of the foremost brokerage houses in the United Arab Emirates (UAE). RAMZ is licensed by the Securities and Commodities Authority (SCA) to exchange shares and securities in the Abu Dhabi Securities Market (ADX) and the Dubai Financial Market (DFM). It is also a Recognized Member of NASDAQ Dubai.

RAMZ offers a variety of financial products and services to cater to, and to address the changing needs of its valued clients both retail and institutional. Most recently, RAMZ is the first local brokerage firm to have been awarded by SCA a Research and Advisory license, further expanding the product suits of the company.

Ably supported by an extensive network of branches encompassing various locations across all the emirates, RAMZ bring the greatest coverage and utmost convenience to its customers. RAMZ continues to embark on widening its reach through the establishment of branches in other locations within the UAE and within the Middle East and North African (MENA) region.

RAMZs strength is anchored on the strong support of its Shareholders, which includes Invest AD (Abu Dhabi Investment Company), members of the Royal Family as well as eminent business personalities, its Management Team, who are experienced professionals belonging to a diverse field, its Associates, who come from various backgrounds but are equally motivated and strongly committed to the promotion of RAMZ's and its clients' interests.