Director- Money Markets

JobsCloseBy Editorial Insights

Mashreq seeks a Director Money Markets to optimize UAE Money Markets, IBG and FI branches treasury functions, improve NIM, and ensure Basel III liquidity compliance and ALCO policies across locations. The role covers supervising liquidity asset deployments, maximizing money book returns with adequate liquidity, guiding IBG and FI branches on excess liquidity, managing centralized Bahrain treasury, allocating FX/MM limits, and Nostro exposure, plus Shariah-compliant treasury activities and backing up the Director Funding Centre. Ideal candidates have 9 to 10 years in money markets, deep Basel liquidity knowledge and Operations/TOC experience, and demonstrated leadership. To apply, quantify margin gains, liquidity controls, cross-border funding, regulator interface, and Shariah exposure, and show collaboration.

Job Purpose
Optimize the Bank's Money Markets function's operations across all locations (including IBG and FI branches) to improve NIM, while adhering to Basel and other applicable regulatory requirements, as well as internal ALCO liquidity risk management policies.

Assist in operationalizing Basel III's qualitative and quantitative requirements regarding liquidity risk management.

Key Result Areas
UAE Money Markets, IBG and FI Branches Treasury Functions

•    Supervise allocation of the Bank's liquid assets' deployments and short-term borrowings on a bank-wide basis to maximize margins, while remaining compliant at all times with changing liquidity regulations and the Bank's internal liquidity risk management policies. 
•    Maximize the UAE money book investment returns while maintaining sufficient liquidity to ensure seamless running of the Bank's operations and adherence to regulatory and ALCO/FC guidelines. 
•    Assist IBG and FI branches in managing excess liquidity and complying with regulatory standards by suggesting and booking trades that optimize regulatory ratios and Money book margins at both country and consolidated balance sheet level. 
•    Manage centralized treasury functions of the Bahrain branch. 
•    Manage and allocate FX/MM limits to overseas branches and control centralized inter-bank credit exposure with Head Office Treasury.

Liquidity Risk Management 
•    Translate the Board of Directors-approved liquidity risk tolerance policy into strategies, policies, procedures, limits, warning indicators, and communication and escalation procedures to manage liquidity risk. Specific liquidity management policies should cover: 
Managing liquidity in different currencies, across borders, and across legal entities. 
Intraday liquidity management. 
•    Ensure that the Bank maintains sufficient liquidity under normal conditions and during periods of liquidity stress resulting from firm-specific or market-wide crises, through developing and updating the Bank's Contingency Funding Plan. 
•    Assist in developing annual funding plans for the UAE, IBG, and FI branches. Suggest market timing and actions to keep the Bank on track in achieving the desired funding mix at the least possible cost. 
•    Ensure that the Bank's Money Market operational procedures, including benchmark rate-setting procedures at all locations, remain current and aligned with external regulatory requirements and market best practices, including Basel III liquidity regulations. 
•    Interface with regulators on benchmark rate-setting procedures and other liquidity-related regulatory matters.

USD/AED Rate Quotation and Nostro Management 
•    Quote USD/AED and other GCC currencies for spot, forward, and swaps competitively to achieve targets. 
•    Ensure efficient management of all foreign currency Nostro positions so that positions are covered or deployed promptly, minimizing interest expense and ensuring cost allocation for balance volatility. 
•    Manage the Bank's, including overseas branches', long USD exchange position within the approved ALCO limit.

Shariah Support and Compliance 
•    Manage Islamic Treasury functions in accordance with Sharia principles. 
•    Arrange Sharia-compliant funds from inter-bank markets and corporate clients for Mashreq Al Islami.

General 
•    Act as backup for the Director Funding Centre and manage publication of the FTP and Deposit Rates grid, including approval of rate exceptions on deposits in the Director's absence. 
•    Assist in pricing and maintaining optimal VLC deposit balances at all locations. 
•    Safeguard the Bank from potential loss by recommending and ensuring strict adherence to established limits and guidelines. 
•    Assist all international Money Market desks as required. 
•    Maintain and enhance the Bank's reputation through superior service and high ethical standards consistent with the Bank's image and reputation.

Knowledge, Skills and Experience
•    Graduate qualification, with a Master's degree preferred, and a minimum of 9 to 10 years of Money Markets and trading experience in a large institution, including leadership of the Money Markets function. 
•    Complete knowledge and clear understanding of Basel and other liquidity regulations, as well as the Bank's Treasury-related policies, procedures, and operating systems. 
•    Hands-on familiarity with Operations/TOC processes. 
•    Strong product and service knowledge and marketing skills. 
•    Excellent interpersonal, communication, lateral thinking, and analytical skills, with the ability to perform as a team player.

• UAE Money Markets, IBG and FI branches Treasury Functions

• Supervise allocation of Bank's liquid assets' deployments and short term borrowings on a bank wide basis, to maximize the margins while remaining in compliance at all times with the changing liquidity regulations as well as Bank's internal liquidity risk management policies

• Maximize the UAE money book investment returns while maintaining sufficient liquidity to ensure seamless running of Bank's operations and adherence to regulatory and ALCO/FC guidelines

• Assist IBG and FI branches' in managing excess liquidity and complying with regulatory standards through suggesting and booking of trades that optimize the regulatory ratios and Money book margins, at both the country and the consolidated B/S level

• Manage centralized treasury functions of Bahrain branch

• Manage and allocate FX / MM limits to overseas branches and control the centralized inter-bank credit exposure with head office Treasury

• Liquidity Risk Management

• Translate the board of directors' approved liquidity risk tolerance policy into strategies, policies, procedures, limits, warning indicators and communication and escalation procedures to manage liquidity risk. Specific policies on liquidity management to cover

• managing liquidity in different currencies, across borders and across legal entities; and

• intraday liquidity management

• Ensure that the bank maintains sufficient liquidity both, under normal conditions as well as under periods of liquidity stress as a result of firm specific or market wide crises through developing and updating the Bank's Contingency Funding Plan.

• Assist in the development of the UAE's as well as IBG and FI branches' annual funding plans. Suggest market timing and actions to keep the Bank on track in terms of achieving the desired funding mix at least possible cost.

• Ensure that the Bank's Money market operational procedures including bench mark rate setting procedures at all locations are kept up to date in line with external regulatory requirements and market best practices including Basel III liquidity regulations.

• Interface with regulators for bench mark rate setting procedures and other liquidity related regulatory issues

• USD/AED Rate Quotation and Nostro management

• Quote USD/AED and other GCC currencies for spot, forward and swaps in a competitive manner in order to achieve targets

• Ensure efficient management of all foreign currency Nostro positions to ensure positions are covered/deployed in a timely manner in order to minimize interest rate expense and ensure cost allocation for balance volatility

• Manage Bank's (including overseas branches') long USD exchange position within approved ALCO limit

• Shariah support and compliance

• Manage Islamic Treasury functions in accordance with Sharia principles

• Arrange Sharia compliant funds from inter-bank markets/corporate clients for Mashreq al Islami

• General

• Act as back up for the Director Funding Centre and manage publication of FTP and Deposit Rates grid and approving rate exceptions on deposits in his absense

• Assist in pricing and maintaining optimal VLC deposit balances at all locations

• Safeguard the Bank from any potential loss by recommending and ensuring strict adherence to the limits and guidelines laid down.

• Assist all international Money market desks, as and when required.

• Maintain and enhance Bank's reputation through superior service, whilst maintaining high ethical standards in keeping with the Bank's image and reputation

• A graduate (Masters preferred) with a minimum of 9 to 10 years money markets and trading experience in a large institution, heading the money markets function.

• Complete knowledge and clear understanding of Basel and other liquidity regulations as well as the Bank's Treasury related policies, procedures and operating systems.

• Hands on familiarity of Operations/TOC processes

• Strong products and services knowledge and marketing skills

• Excellent interpersonal, communication, lateral thinking and analytical skills with ability to perform as a team player.