Qatar First Bank is always in search of top talent and bright minds to contribute to the current transformation taking place at our bank. We are looking for unique individuals that are passionate and hungry to add value. Every day at QFB is a different day that presents a new challenge with the opportunity to contribute and grow. We are currently looking for a Head of Middle Office.
Head of Middle Office is responsible for providing support to the Investment and Treasury teams in developing, managing, and retaining relationships with related institutions and the Operations department. The Head of Middle Office is responsible for maintaining the operational capabilities of the existing accounts (i.e. static data). Actively assisting in developing the client’s relationships to their full business potential with the entire Middle Office team.
- US transactions – cross-check all documentation
- Internal check on PSA, Financial modeling, due diligence, and checklist
- Create and maintain folders and supporting documents for all transactions
- Managing internal and external closings while filling gaps of missing information
- Coordinate with all internal and external stakeholders
- Assuring investments are generating income based on financial models
- Collate reports from operators and comparing with financial models. Raise “Red Flags” if there are discrepancies
- Sitting between the front office and back office while supporting both sides
- Maintain SVP accounts and board resolutions related to those accounts
- Maintain an ongoing awareness and consideration of AML “Red Flags” of suspicious activity to determine when it is appropriate to raise a suspicious activity report with the Money Laundering Reporting Officer.
- Coordinate between Investments, Treasury, Legal and Operations team to make sure proper workflow and documentation for all transactions
- Resolution of client inquiries and complaints, including escalation of more involved investigations.
- Manage Account Opening documentation and client due diligence review (KYC) process, ensuring deadlines are met.
- Co-ordinate all client visits to ensure proper logistics and pertinent information are available, e.g. subscription agreements, documentation for signature, missing KYC, meeting room or driver booking etc.
- Maintain corporate database to provide current and historical client information, including an accurate account of all client contact details.
- Deal with and process payments, deposits and securities transactions accurately and within deadlines and follow up with any queries – liaising directly with internal departments to ensure a smooth and quick turnaround on transactions.
- Maintain proper interbank documentation at all times.
- Working with internal subject matter experts include Treasury & Investments, Investments, Operations, to assess business, financial and economic risks and opportunities including new product launches and maximizing potential to cross-sell products and services to clients. Provide investment valuations and statements as required.
- Support for Rates and FX Trading and Sales Desks - including support for FX, FXO, MM products and Rates Derivatives.
- Own query remediation, trade life-cycling and other day-to-day processing, ensuring timely escalation, in order to minimize risk
- Drive continuous improvement and innovation:
- Partner with Technology to deliver transformation
- Identify booking model improvements and drive efficiency
- Stakeholder engagement, 2-way flow of information - "Trusted Advisor"
- A representative for external/internal and regulator scheduled audits:
- Ensure Audit points are addressed within timelines
- Achieve regulatory compliance and future proof the Middle Office model through a strong understanding of current rules and anticipation of upcoming regulations
- Adherence to Ops Risk Framework standards of implementation and process management:
- Continuous review of procedures and booking model
- A University degree is a must
- Minimum 3 years’ experience as Head of Middle Office
- Banking/Investment Banking experience
- Subject matter expert in Investments, Real Estate
- Subject matter expert in Rates & FX products in terms of product characteristics, risk, market data and P&L
- FX, IRS, CCS, Basis Swaps, Structured Rates Derivatives and Futures
- Additionally, knowledge of MM products would be beneficial
- Minimum 3 years Financial Markets experience ideally from a top tier bank
- Understanding of front to back process and systems flows
- Analytical and process improvement mindset
- Strong interpersonal skills:
- Confident communicator able to adapt style to Front Office and offshore colleagues
- Ability to influence demanding individuals
- Impact and gravitas to drive meetings with senior Ops and FO management
- Demonstrate strong teamwork and values mindset
Key skill Required
- Banking Officer
- Bachelor Degree