IDB2754 - Senior Dealer

Business Unit: ICIEC
Division: Finance Division- ICIEC
Department: Not Applicable
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 28-Feb-2022

Department:

Finance Department

Reporting To:

Technically to Lead, Treasury Investment & ALM and Admiratively to Senior Manager, Finance

JOB PURPOSE:

The Senior Dealer is responsible for executing dealing room operations, including negotiations of borrowing and placement rates / foreign exchange rates / primary and secondary market Sukuk trades, and execution of deals based on the best market conditions, under the direction Lead Treasury and approval of the Director-DF. The ideal candidate should also possess an investment background to assist in identifying good investment opportunities and supporting the investment due diligence.

KEY RESPONSIBILITIES:

Organizational Unit Responsibilities:

  • Contributes to formulation and implementation of action plans, processes, budgets, and operational KPIs for the Treasury Investments function.

     

  • Introduces improvement initiatives to enhance the effectiveness and efficiency of Treasury Investments function.

     

  • Contributes to preparing the standing and ad-hoc reports of the Treasury Investments function.
  •  Coaches and develops the knowledge and skills of DFT team in treasury operations and execution.

 

Strategic Responsibilities:

  • Analyses foreign exchange movements, negotiates their rates with counterparties and executes deals based on the best market conditions.

     

  • Ensures that the assigned set of portfolios of money market instruments and funds are utilized optimally in compliance with relevant policies to best meet the ICIEC’s needs, providing appropriate recommendations, when necessary.

     

  • Monitors and scouts possible Shariah-compliant placements and investment opportunities.
  • Provides technical input and support the Lead Investment Specialist & ALM on preparing new investment proposals, obtaining all the necessary documentations, and coordinating with various other IsDB Group entities.

 

Core Responsibilities:

Treasury Deals Execution:

 

  • Manages Treasury Front Office as primary dealer and monitor daily liquidity to maximize returns on cash investments.

  • Executes Treasury placements, investments and foreign exchange orders in the most efficient and timely manner.

     

  • Liaises with banks for foreign exchange, money market limits, etc. and provide input into RMD counterparty limit reviews for treasury partners and instruments.

     

  • Manages counterparty settlement process in coordination with Middle Office (RMD) and Back Office (Finance).

     

  • Proposes new treasury partners and investment instruments to the eligible list of instruments.

     

  • Prepares reports on treasury deals, investment assets and portfolio to track returns and the associated costs.

     

  • Evaluates investment opportunities in order to make the most profitable returns for the Corporation.

     

  • Manages relationships with treasury partners to implement short-term investment strategies with competitive returns.

     

  • Keeps management informed of any changes in market conditions that may affect the Treasury performance or valuations.

 

Operational Excellence Support:

  • Ensures effective implementation and adherence to all relevant policies, procedures and internal controls so that all relevant procedural and regulatory requirements are complied with.

     

  • Proposes and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.

 

JOB REQUIREMENTS:

Field of Study

  • Banking, Finance, Accounting, Business Administration or related discipline.

Academic Qualifications and Relevant Experience

Qualification Level

High School Diploma

Bachelor’s Degree

Master’s Degree

Doctorate

Experience

N/A

9-12 years

7 years

4

Nature of Experience

  • Prior experience in Treasury and Risk, managing treasury investment of a financial institution and ALM.

Professional Certifications (as applicable)

  • Treasury-related Professional Certification is preferable (CTP, ACT, CFA)

     

  • Finance qualification (CPA/CA) may be considered with strong experience.

Technical Skills Required

  • Knowledge of Bloomberg and Reuters dealer terminals and communication protocols.

     

  • Experience in treasury investments and dealing room operations of a financial institution.

     

  • Experience with Islamic Financial Institutions would be advantageous

Business Language Skills

  • Good command of written and spoken English and Arabic is essential

     

  • Additional languages such as French is an added advantage

Key Performance Indicators

  • Timely and quality processing of Treasury transactions

     

  • Return on investment

     

  • Foreign currency gains/losses

     

  • Timely Reporting

     

  • Compliance with policies and guidelines