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Organisation Unit Purpose
Wealth Management Ops & Middle Office provides execution service for all Banking, Investment transactions & Governance for Wealth management Clients & Onboarding & Alert Management for Private Banking clients. The Unit is also involved in delivering Solutions, IT related infrastructure, projects and enhancements to facilitate the Wealth Management business that is a combination of the Private banking, Asset management and the Brokerage businesses
Job Purpose
The role holder is primarily responsible for monitoring the day to day activities/work at the department for Emirates ENBD Wealth functions. The person must ensure to run the unit at a high level of operational efficiency and controls in conformity to bank policies. The role holder will have to interface with internal or external parties for the smooth running of the department and also implement service excellence standards, including coaching and managing subordinate staff/co-workers on policies and procedures.
Main Tasks
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Bancassurance applications between Third Party Service Providers and the Bank, ensuring that funds are remitted, and policy documents are received within agreed TAT.
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Liaising with Third Party Service Providers for follow-up of applications for bancassurance products and receipt of commission/Referral Fees.
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Effectively manage overall Team activity & ensure all applications/ transactions are processed as per the department processes and guidelines.
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Supervise guide and support activities of members in the team to achieve unit’s objectives.
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Maintain up to date operational procedures for the department and monitor and ensure compliance with internal and external guidelines, policies and regulations relating to investment operations.
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Propose improvements to department/unit policies and ensure that subordinates adhere to internal operational policies and procedures in order to enhance service delivery.
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Ensure adherence to applicable policies and procedures to safeguard the Bank’s interests.
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Implement and maintain efficient processing procedures and control zero operational losses. Report of any discrepancies to management.
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Handling and responding to Audit as required by Management
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Control commission payment reconciliation and monthly premium tracking.
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Maintain MIS of bancassurance products processed by the unit e.g. premium paid and commission earned. Ensure preparation / submission/ dissemination of relevant reports / reconciliations and MIS s to the concerned departments as per the agreed cut off for management information / action.
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Coordinate with other departments to ensure prompt service and resolution of any issues.
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Ensure that customer complaints and transaction irregularities are investigated and make appropriate recommendations to prevent similar occurrences.
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Escalate client issues and complaints on operational matters to higher-level management, when necessary.
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Coordinate with Product Manager for each product launch.
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Highlight specific system issues & raise required remedy for resolution.
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Perform UAT as per business requirement.
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Develop skills and competencies of team members in order to improve competency levels and flexibility within the team.
Qualifications
Description of Knowledge / Skill etc.
- Graduate/ Post Graduate
- 10 years+ Operations experience in a Bank, Brokerage, Investment management company is desired.
- Knowledge of bancassurance operations, System & Serves is a must.
- Excellent interpersonal and team management skills
- Strong judgment and decision-making skills.
- Good analytical skills to analyse, interpret, resolve and improve productivity
- Ability to identify, analyse and manage operation risks
- Ability to multitask and work under pressure
- Ability to work within a team.
Primary Location: United Arab Emirates-Dubai-Dubai – Deira, Baniyas Road, Enbd Head Office
Job: Professional Support
Organization: Operations
Schedule: Regular
Shift: Standard
Job Type: Full-time
Day Job
Job Posting: Mar 7, 2023, 5:42:56 AM
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