Assistant Vice President - Exchange Operations - Bahrain Financial Exchange - Manama,Bahrain

Job Description

This Opening is for Bahrain Financial Exchange - Manama, Bahrain
Key Accountability
All operational, statutory and regulatory compliance
Plan & execute all operations systematically in compliance with internal and external requirements with adequate advance planning and scheduling to avoid last minute pressure

Ensure implementation & adherence to risk management policies for the exchange & members
Ensure adherence to laid down operational standards in Clearing & Settlement and Trading & Surveillance department
Evaluate and train staff for career planning & improving efficiency of operations
Introduction & implementation of best practices in the department
Ensure compliance of regulatory norms as stipulated by the regulatory authorities
Reduction in member grievances and enhancement of service levels
Obtain periodic service level feedback from all users & partners
Periodic MIS for early warnings on potential risk and defaults
Supervisory Activities
Review the operational performance & guide the departments accordingly
Trading & Surveillance
Advance planning, scheduling and co-ordination for operational efficiency
Issue of member & user ID
Adherence to open limit positions and margin requirements
Member surveillance & proactive action
Regulatory compliance & reporting
Timely communication with members
Ensure co-ordination with other departments
Timely redressal of member grievances
Monitor global price behaviour for necessary corrective action in domestic market
Prepare product map of BFX and competitor’s products to monitor price and delivery behaviour & to take corrective action
Generation of MIS for potential risk & defaults
Prepare monthly & weekly plan of potential events and likely risk in the market and suggestions for corrective action
Create product wise life cycle and price behaviour for preventive risk management
Clearing & Settlement (including Spot & Delivery)
Advance planning, scheduling and co-ordination for operational efficiency
Physical Settlement
Fund Settlement
Quality Certification
Settlement of dues
Calculation & imposition of penalties
Generation of MIS
Co-ordination with banks & other external entities and document the process for streamlining operations
Co-ordination with internal departments (T & S, Membership etc)
Prepare a process document for each event and each commodity to improve operational efficiency
Resolution of customer grievances and complaints

Execution Activities
Introduce and document best practices for efficient working of the departments
Co-ordinate with the Forward Markets Commission & other regulatory authorities for introduction and adherence to risk management practices
Work towards greater automation in the department for better member service & surveillance
Work towards strengthening the manpower & other resources
Maintain relationships with key clients, members and external agencies
Address member grievances which are escalated
Regularly obtain member feedback on key expectations from the department & issues faced
Prepare monthly plan in advance with expected risk factors and review performance of previous month vis a vis the plan for that month.
Co-ordination Activities

Co-ordinate with FMC & other regulatory authorities for ensuring adherence to regulatory norms and co-ordinating for implementation of best practices
Co-ordinate with other departments to resolve member grievances which are escalated and to identify major events for better risk management & turnover enhancement
Co-ordinate with the Systems department for improvements in the technology interface in the department
Co-ordinate with all external agencies for operational efficiency
Desired Skills & Experience

Ananlytical Skills
Interpersonal and communication skills
Team Management

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