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CIB Operations - Riyadh DCC Operations Manager - SAUDI Nationals Only

Req #: 170043333
Location: Riyadh, 01, SA
Job Category: Operations
Potential Referral Amount: 3000 Euro (EUR)
CIB CAO EMEA Branch Operations
Saudi Arabia DCC Operations Manager (Associate)

About CIB EMEA Branch Operations

The EMEA Branches Operations organization was formed in 2013 to streamline the Markets, Investor Services, Banking and Global Treasury functional processing and to develop further 230+ staff across 17 countries, whilst continuing to offer exceptional client service, with 55+ products as well as adapting to regulatory and industry change. Saudi is a key location where we continue to grow and support the business developments.

About Saudi Arabia Direct Custody Operations

JP Morgan is growing its Direct Custody capabilities in Saudi Arabia through the local entity in the Kingdom, JP Morgan Saudi Arabia Ltd. The role requires an experienced Custody Operations Manager with proven local securities market experience and people management skills to support the implementation of new initiatives as well as to manage and lead the operations team responsible for the on-going support of the business. 
 
The role is suited to a motivated and innovative self-starter with the necessary skills and experience to drive change as well as to ensure an efficient and controlled operating model.  This includes defining and managing the operating model, technology requirements and business processes needed to facilitate the new business whilst maintaining a robust control environment

Key Responsibilities

  • Operational management and control of the daily workflow within critical market deadlines
  • Compliance with Saudi CMA rules and regulations and aligning these to internal policies & procedures
  • Stay current with evolving industry and regulatory changes, client requirements and analyze impact to business, processes, and compliance.
  • Maximize team capacity through effective resource planning and ensure team structure is robust through effective training and succession planning
  • Own issues related to the business processing operation and ensure timely escalation to both Operational and Risk leads
  • Promote culture of early and timely escalation, ensure root cause analysis undertaken for all operational incidents and follow through with all recommendations. Actively manage risk items and continually evidence compliance with key controls
  • Identify and deliver tangible operational improvements, increase automation of processes and oversight to high-risk activities
  • People Management - provide direction and leadership to the team. Ensure all staff members receive documented regular 1-2-1 reviews and provide a succession plan for the department. Provide effective communications to the dept, ensuring staff are aware of strategic and market changes in the organisation
  • Ensure all team members adhere to global escalation policies, attest to operational procedures at required intervals and actively comply with ethics and behaviour standards
  • Work with operational and product partners to define the strategic road map for the product
  • Implement the project structure and governance required to deliver on the agreed strategy
  • Represent Securities Processing with internal and external clients, promoting the strategy, products and capabilities of the department. Support operational partners across Custody with strategic initiatives
  • Form effective working partnerships across JP Morgan lines of business and support cross selling opportunities

 

Skills

  • Business & Industry Knowledge - The individual is expected to have good knowledge of Saudi Arabian Securities Market & industry regulations. This position needs skill set of market interpretation & application, analytical ability, documentation, problem solving and good capital market product knowledge.
     
  • Partnership - The individual is required to interact with internal stake holders like Service teams, Business, Compliance and Finance and externally with the regulators, auditors, etc. Strong execution skills, ability to work independently with limited supervision and multi-task. Works well individually and in teams, shares information, and supports colleagues. Ability to create strong stakeholder relationships that promote transparency and open dialogue around control issues.
     
  • Communication - Fluency in written and spoken English (Arabic competencies preferable), with the ability to present complex and sensitive issues to management in a persuasive manner.
     
  • Team Management & Accountability –Seeks ways to increase efficiency and effectiveness of work performed and resources utilized. Demonstrate Ownership and Accountability for Deliverables.
     
  • Leadership- Ability to assess priorities, adapt to a changing environment, organize and lead resources, monitor progress and timely deliver a high quality end product .Enthusiastic, self motivated, effective under pressure. Display high levels of integrity; operate on the basis of open and honest interaction.

Educational/Qualifications

  • Degree or equivalent preferred
  • Direct Custody Clearing operations experience in KSA
  • Qualified CMA certification essential

Experience

  • 3+ years relevant equity operations experience
  • 1 - 2 years management experience
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