Senior Officer, CBDFS Operations (UAE National)

Job description / Role

Overview

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features, and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose

Provide support to GM, CBD Financial Services to set strategic goals for the business and to coordinate with team managers to develop incremental business from existing customers and to add new relationships within the bank's target market while maintaining a sound credit portfolio.

To manage the unit effectively and efficiently ensuring timely and accurate processing of all security-related transactions.

Principal Accountabilities

• Establish strategic objectives and long-term plans to achieve the organization's mission.
• Formulate, in conjunction with other unit managers, business plans to achieve long-term objectives and seek board approval for strategic objectives and business plans.
• Set priorities and action plans for the back office to provide direction and ensure quality and timely completion of the daily processing functions and achievement of overall objectives of the unit.
• Ensure that customer details are in conformity with DFM.
• Ensure that all orders are properly executed in line with the DFM policy guidelines.
• Ensure that proper freeze is applied on customer accounts before executing their orders.
• Send proper deal confirmations to the customers to avoid any delay in collections or legal implications.
• Ensure that commissions are collected from the customers on the value/due date.
• Ensure that settlement amounts are debited to customers' accounts on settlement date for the trade value.
• Report all transaction errors to senior management and account for the losses on due approval.
• Send weekly statements to customers for their information.
• Manage timely execution, recording, and communication of all securities-related services to avoid customer complaints and ensure efficiency and profitability.
• Provide ongoing professional advice, guidance, training, motivation, and conduct performance reviews of staff members to assist in the development of their potential and to enhance knowledge-based skills.

Requirements

• Preferably a bachelor's degree holder in Finance/Commerce.
• 3 - 5 years of experience in a similar position in an investment company or banking institution.

About the Company

In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.

By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.

Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.