Financial Control Associate

Arab Monetary Fund

Roles and Responsibilities:

• Prepare daily reconciliation of correspondent bank accounts operated for investments activities and resolve discrepancies in coordination with the Financial Operations Section, Manager.
• Manage daily incidents from bank reconciliation by promptly identifying and categorizing discrepancies, investigating their causes, and resolving them through corrections or adjustments.
• Track and escalate to the Financial Operations Section Manager in case of differences or issues related to the contractual terms with the correspondent banks.
• Monitor all securities dues on time and liaise with the treasury and direct investment Section in case of cash discrepancies
• Match trades confirmations for all treasury transactions against the incoming confirmations received from the counterparties.
• Prepare end-of-day reports ensuring all daily activities were completed in line with the existing procedures.
• Monitor the transaction screening system and coordinate with the Compliance Section on payments needing additional compliance checks for AML/CFT regulations
• Managing standard settlement instructions (SSIs) by maintaining and updating accurate settlements instruction for transactions, and coordinating with counterparties to resolve any discrepancies, and documenting changes to ensure smooth and efficient processing of financial transactions.

System Management:

• Ensure smooth operations of the IT systems used in financial control.
• Enhance the performance of information systems related to financial control in coordination with specialized organizational teams.

Compliance and Risk Management:

• Identify and assess risks associated with financial control processes and implement risk mitigation strategies, in coordination with the Financial Operations Section, Manager.
• Ensure all financial control comply with financial regulations and standards.

Business Process Management:

• Contribute to the identification of improvements to the Section s policies and implement procedures and controls covering all areas of activity so that all relevant procedural/legislative requirements are fulfilled while delivering high quality and cost-effective results.
• Conduct day-to-day activities in line with stipulated policies and procedures.

Stakeholder Management:

• Work and collaborate with relevant internal (e.g. departments/Sections) and external stakeholders (e.g. banks) in a manner that supports the achievement of the Financial Operations Section s objectives.
• Actively gain exposure and insights to local market development, business opportunities and the existing regulatory landscape and leverage it to enhance stakeholder management capabilities, in line with AMF s strategic objectives.

Additional Duties:

• This job description outlines the duties that are typically performed by the jobholder. These duties are not the only duties required by the job and management might assign additional duties from time to time.