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Manager of Clearing Operations

Dautom228 open roles

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Abu Dhabi, Abu Dhabi, United Arab Emirates
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Your applicationOpen nowManager of Clearing OperationsDautom · Abu Dhabi, Abu Dhabi, United Arab Emirates
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The clock on this job

Early applications get read.

12.1% of postings close within 7 days. Measured by our own scanner across the market.

Share of postings closed within
  1. 2.1%1 day
  2. 4.5%3 days
  3. 12.1%7 days
  4. 19.1%14 days
  5. 35.6%30 days
  6. 52.7%60 days
This job: first seen 3 days ago

The posting

Client Introduction:

In this role, you will have the opportunity to work closely with one of our esteemed clients. This client is a global leader known for its commitment to quality and innovation. They have chosen Dautom as their trusted partner for their upcoming projects.

Job Objective

The Manager of Clearing Operations is responsible for leading and overseeing the exchange's clearing operations. This includes managing the exchange's clearinghouse, which is responsible for matching and settling trades between the exchange's members. The Manager of Clearing Operations also works to ensure that the exchange's clearing operations are efficient and effective.

Key Accountabilities

General Responsibilities

  • Manage the exchange's clearinghouse, including overseeing the matching and settlement of trades, managing the clearinghouse's risk management framework, and ensuring that the clearinghouse complies with all applicable laws and regulations.
  • Establish and monitor KPIs to track the efficiency, accuracy, and timeliness of clearing operations.
  • Identifying areas for improvement in clearing operations and implementing strategies to enhance efficiency, reduce risks, and optimize processes.
  • Manage the clearing operations by ensuring that all clearing activities comply with regulatory requirements set by relevant governing bodies, ensuring adherence to rules and standards. Monitor the exchange's clearing operations for efficiency and effectiveness.
  • Establishing standardized procedures and documentation for clearing operations to ensure consistency, transparency, and ease of auditing or compliance checks.
  • Prepare and present clearing operations reports to senior management and the Board of Directors.
  • Develop and implement clearing operations policies and procedures for continuous improvement purposes.
  • Manage team members on daily basis, provide support and periodical reviews of employee performance

Job Specific Responsibilities will include

  • Manage the exchange's clearing process for all types of securities, including stocks, bonds, and derivatives.
  • Managing relationships with clearing service providers, technology vendors, and other external partners to ensure seamless integration and optimal service levels.
  • Implementing advanced automation and AI-driven systems for trade validation, risk assessment, and margin calculations to improve operational efficiency and accuracy while reducing manual errors.
  • Ensure that the exchange's clearing operations comply with all applicable laws and regulations, including the Securities Exchange Act of 1934 and the regulations of the Securities and Exchange Commission.
  • mitigate risks associated with clearing operations by overseeing margin requirements, monitoring exposure to counterparty risks, and implementing risk controls to safeguard against potential defaults.
  • oversee the collection and management of collateral and margin funds to ensure that there are sufficient assets to cover potential losses in case of defaults or market fluctuations.
  • Developing robust contingency plans and strategies for disaster recovery to minimize disruptions in clearing operations during unforeseen events or system failures.
  • Conduct ongoing market research to stay updated on latest trends, regulatory changes and integrating relevant innovations into clearing processes.
  • Participating in industry forums, conferences, and discussions to share insights, contribute to best practices, and stay informed about evolving standards and practices in clearing operations.

Qualifications and Experience

  • Bachelor's degree in finance or a related field.
  • 10+ years of experience in clearing operations, preferably in the securities exchange industry.
  • Strong understanding of clearinghouse operations, risk management, and regulatory compliance.
  • Experience with clearing systems and tools.
  • Excellent analytical and problem-solving skills.
  • Strong communication and interpersonal skills.

Desired Qualifications:

  • Master's degree in finance or a related field.
  • Experience with clearing operations for a variety of securities, including stocks, bonds, and derivatives.
  • Experience with managing clearing relationships with clearing members.
  • Experience with clearing risk management frameworks.
  • Bilingualism in Arabic and English.
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