Head of Group Custody

Posted by:
Max Baulf

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The Head of Group Custody will be responsible for the development and implementation of a Group Custody strategy, in alignment with the Group’s global strategy. The incumbent will lead and oversee the on-going development and automation of the Group Custody department, (front and back
- office), by selecting suitable IT systems, implementing systems, planning &, marketing Custody services, coordinating with Regional exchanges. She/he is responsible for the achievement of budgeted Custody-related KPIs, in compliance with established policies, procedures, regulatory obligations, and best practice.

**Responsibilities**:

- Prepares the strategic and business development plans for the Group Custody clearing and settlement.
- Manages the implementation of the strategy and business plan of Group Custody services function to achieve the set volume, revenue, and profit targets.
- Establishes and leads various committees which will (a) plan and execute the expansion of the Global Custody business, (b) monitor performance against Group Custody KPIs and (c) have risk-management oversight over all Custody-related activity, across all Group entities, worldwide.
- Develops Key Performance Indicators (KPIs), for the purpose of performance monitoring, quality measurement and monitor staff achievements on a periodic basis.
- Manages the implementation of Group Custody Clearing and settlement best practices across all activities business / operations, worldwide, to promote efficiencies in work processes, ultimately resulting in increased customer satisfaction.
- Recommends appropriate pricing structures/ policies for the different Group Custody products and services, across the Group.
- Identifies new business opportunities, worldwide, and thereby facilitates global growth.
- Fulfill the commitments as per QE custody agreement i.e. (i) using its reasonable efforts to advertise, market and promote securities trading on the Qatar Exchange in order to maximize market liquidity and quality. Marketing commitment; (a) to support client awareness sessions in major financial centres; (b) to include references to the Qatar Exchange and the Qatari financial markets in relevant publications to their clients on an international level; and (ii) supporting the development of a delivery versus payment (DVP) securities settlement system, the migration of cash settlement of Trades to central bank money settlement (CeBM) and, ultimately, to central counterparty clearing (CCP)
- Ensure all the custody records are maintained as per QE / QFMA / respective market/ sub custodian rules and regulations.
- Ensure that all trades are settled on time and that no penalties are imposed for unsettled / late-settled trades.
- Support the selection process for the optimal IT system(s) for Group Custody services and participate in system implementation, straight-through processing by using interface with core banking, Swift systems.
- Ensures the provision of value added products and services to existing/new potential client who seek Custody services relationships with the Group and meeting/ exceeding their service expectations.
- Maintains relationships with the existing customer base as well as originating new ones..
- Maintains strong and effective relationships with all key external entities (such as Custodians, Auditors, Trustees, Fund Managers, clients, sub-custodians, brokersetc to achieve Group Custody’s functional goals/objectives.
- Ensures that Group Custody provides timely and accurate information to the external and internal auditors, the Group Compliance function, and Group Risk as and when required.
- Co-ordinates with other bank sub-custodian / regional exchanges / sub-custodian for the timely processing of settlements.
- Co-ordinate with the Custody Operations & Settlement on the timely and accurate processing of settlements in accordance with the market / regulatory requirement within the time frame.
- Chairs various other risk-monitoring committees, whereby appropriate risk controls are to be applied to all Custody-related activity, worldwide, across all Group entities.
- Leads, mentors and motivates the Group Custody team to enhance service quality and meet assigned financial and non-financial targets.
- Provides technical expertise and guidance to settlements area, as and when required for smooth operational functions.
- Develops custody proposals for new institutional / HNI clients
- Manages the process pertaining to Custody, clearing, settlement & customer reporting
- Manages the process of selection of sub-custodian in the Arabian Gulf, as well as worldwide, in consultation with GM AWM.
- Monitors and controls the worldwide Group Custody function periodically to ensure targets are met, corrective measures implemented on a timely basis and to gauge the delivery of quality and performance..
- Instills fair dealing principle among Group Custody staff
- Reviews periodic MIS rep