Manager - Collateral Operations- (UAE National)

Job Purpose:

Plan, oversee and guide the collateral operations of Abu Dhabi Clear (AD Clear) to ensure the efficient and effective management of collateral assets, and all related financial instruments in compliance with regulatory and risk standards to achieve operational excellence, financial stability, and integrity of clearing operations.

Key Accountabilities:

Strategic Contribution

1. Develop and implement collateral management strategies and policies aligned with group risk management objectives, regulatory requirements, and best fitted global practices.
2. Ensure effective cascading of the functional strategy into operating plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

People Management

1. Manage the effective achievement of assigned objectives through the leadership of the department by setting of individual objectives, managing performance, developing, and motivating staff to maximize sectional performance.
2. Lead the talent development initiatives for the assigned department, collaborating with technical/discipline experts and thereby ensure the availability of talent to fit business requirements.
3. Act as a role model and drive adherence to organizational values and ethics by employees of the assigned department to foster a value driven culture within the organization.

Budgeting and Financial Planning

1. Monitor and validate all departmental operations are conducted in line with the approved budget whilst reporting on any variances for managerial decision making.

Policies, Systems, Processes & Procedures

1. Manage and ensure effective implementation of policies, procedures and controls covering all areas of assigned department activity so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.

Collateral Operations Management

1. Provide leadership and direction for collateral operations, including collateral allocation, monitoring, optimization, and reconciliation, ensuring adherence to established procedures and controls.
2. Direct the daily management of collateral operations, encompassing the evaluation, appraisal, and monitoring of collateral assets involved in trading, to ensure their optimal utilization and compliance with trading standards.
3. Evaluate collateral eligibility criteria and determine acceptable collateral types and margin requirements, coordinating with Risk Legal, and Compliance teams to ensure compliance with regulatory standards.
4. Manage the overall optimization of collateral utilization and allocation across various trading and clearing activities, maximizing the efficiency of collateral usage while minimizing funding costs and liquidity risk.
5. Oversee collateral valuation methodologies and margining practices, ensuring accurate and timely calculation of margin requirements, collateral calls, and margin transfers in accordance with exchange rules and regulatory guidelines.
6. Manage timely reconciliation of collateral positions and transactions with counterparties and custodians, conducting regular audits and reconciliations to identify discrepancies and ensure data integrity.
7. Establish and maintain AD Clear's collateral eligibility standards for diverse types of collateral, including cash, securities, and other accepted assets, to ensure a broad and secure collateral base.
8. Drive effective collaboration with custodians and financial institutions on AD Clear's collateral segregation and safekeeping procedures, enhancing the security and integrity of collateral assets.
9. Ensure that all unit reports are prepared timely and accurately and meet departmental requirements, policies, and quality standards.

Risk and Business Continuity Management

1. Manage 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.
2. Oversee the management of collateral agreements, ensuring precise documentation and strict compliance with legal and regulatory frameworks, thereby safeguarding the integrity of transactions.
3. Lead the monitoring of counterparty exposure and collateral requirements, assessing counterparty creditworthiness and collateral adequacy to mitigate credit risk and ensure the safety and stability of trading and clearing operations.
4. Manage the administration of AD Clear's margining obligations for clearing members and counterparties, optimizing financial stability and compliance with market regulations.
5. Oversee AD Clear's procedures for collateral liquidation and the application of haircuts in instances of counterparty default, mitigating financial risk and safeguarding investment interests.
6. Manage the timely monitoring of market trends and regulatory changes affecting collateral values and requirements and adjust management strategies to optimize collateral utilization effectively.
7. Oversee the effective integration of Environmental, Social, and Governance (ESG) principles into collateral management strategies, promoting sustainability and responsible investing in alignment with global trends.
8. Formulate and implement strategies and systems to enhance the efficiency of collateral use, aiming to reduce the collateral requirements without compromising on meeting regulatory and risk mandates.

Stakeholder Relations

1. Manage effective collaboration with internal stakeholders to understand their collateral requirements and optimize collateral management processes to meet their needs.
2. Oversee effective external stakeholder engagement to build strong relationships and align with market needs and expectations.

Continuous Improvement

1. Lead the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.
2. Manage the effective leverage of advanced technology and collateral management systems to streamline operations, enhance the accuracy of collateral valuation, and uphold regulatory compliance.
3. Oversee the use of advanced analytics to scrutinize collateral data, discerning trends and producing detailed reports that inform strategic decision-making and risk management.
4. Establish efficiency metrics and benchmarks to consistently assess and elevate the collateral management process, aiming for continuous improvement and operational excellence.

Minimum Qualifications & Experience:

Educational and Professional Qualifications:

1. Bachelor's degree in Finance, or a related field.
2. Masters degree in Business Administration (MBA) with a focus on Finance, or a related field, is preferred.
3. Certifications in FRM (Financial Risk Manager), PRM (Professional Risk Manager) are preferred.