IDB2379 - Associate - Funds Operations (ICD)

Business Unit: ICD - Islamic Corporation for Development
Division: Not Applicable
Department: Asset Management Department
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 22-Dec-2019

Associate - Funds Operations:

 Role Purpose:

To undertake work related to funds & Portfolios through the life cycle of fund investment including deployment of funds, collection, compliance, monitoring and follow up in adherence with the established guidelines of ICD.

Key Responsibilities and Activities of the role:

Operational Management

  • Implement framework for funds’ performance monitoring and ensuring quality and

    overall health of the portfolio and identifying problems at early stages.

  • Co-ordinate the Follow up of funds and portfolios activities so that it effectively utilizes its resources, manages its priorities, and can be both responsive and proactive.
  • Follow up, monitor and evaluate the performance, quality, outputs and services of funds and portfolios, identifying and initiating actions for improvement and innovation.
  •  Attend to balance confirmation and other requests by investors and stakeholders.
  • Co-ordinate with the Operations Division/ Back Office to ensure timely and accurate processing of all transactions/ dealings.

Policies, Processes and Procedures

  • Ensure funds and Portfolio Function activities are in compliance with ICD’s policies and procedures.
  •  Interact with other divisions and departments to maintain compliance in all the aspects.
  • Contribute to the provision of value-added services to existing/potential funds investors, with the aim of meeting/exceeding funds investors’ performance expectations
  • Ensure on-going compliance with the Limited Liability Partnership Agreement, Investment Management Agreement, and Investment Policy Statement of each of the fund/portfolio under management.
  • Ensure Shariah clearance for all related investments.

Investment Portfolio Management and Monitoring

  • Coordinate the disbursement of approved transactions and liaise with finance and other relevant internal and external parties to ensure timely deployment of funds.
  • Process disbursements for redemption of units by investors and payment of other operating expenses.
  • Manage collections and regular reporting on outstanding portfolios.
  • Follow up on dues from projects investments, send repayment notification, and prepare reports detailing receipts and overdues.
  • Process new subscription into funds and ensure receipt of relevant amounts and duly singed subscription agreements.
  • Ensures compliance with covenants and other relevant terms specified in financing agreements.
  • Monitor closely the performance of the funds and portfolios with reference to targets and benchmarks and recommend remedial action if and when required.

Reporting and Communication

  • Report to management the overall quality of the portfolio, progress status key changes, and status of adherence to the risk management guidelines.
  • Prepare Daily cash reconciliation and position report.
  • Provide timely and accurate information to the external and internal auditors, the Compliance function and Group Risk, as and when required.
  • Lead preparation and discussion of reports on the status of portfolio and act as a focal point for Operational data reporting to the management.

Stakeholder Relationship Management 

  • Work with colleagues to maintain effective relationships with associated business functions and partners including Funds/ Portfolio Managers, Custodians, Auditors, Trustees, Funds Administrators etc.
  • Share Follow up & portfolio monitoring information with the related business managers to build operations management knowledge and enable them to use this knowledge to benefit their business decisions.

Knowledge Sharing and Innovation

  • Assist in overseeing the Maintenance and sharing of knowledge of emerging best practices and lessons learnt and help to incorporate those in new deals.


  • 5-7 years of experience in banking environment / financial institutions. preferable in fund management 


  • A Bachelor’s degree in Business administration, Finance, Accounting or similar discipline
  • A Master’s or Professional qualifications such as Chartered Certified Accountants (ACCA), Certified Public Accountant (CPA), Certified Management Accounting (CMA) are a plus.
  • Capable of communicating in two of the official languages (Arabic, English and French) of which English is a must.

Job Specific Technical Skills:

  • Asset management
  • Relationship Management
  • Negotiation skills