Operations Manager

Role Description: The Operations Manager position at AM WEALTH LIMITED is a full-time, remote role responsible for overseeing day-to-day back-office operations.

1. Role Purpose

The Operations Manager oversees day-to-day back-office operations, including trade settlements, corporate actions, reconciliations, payments, and client billing, ensuring accuracy, efficiency and compliance with applicable ADGM/FSRA requirements and internal controls.

2. Key Responsibilities

A. Trade Settlements and Operations

• Manage daily trade settlements, confirmations, matching and payment instructions.
• Process and monitor DVP, RVP and FOP securities transactions, including internal and external transfers.
• Coordinate with custodians, banks, brokers and counterparties to ensure timely settlement.
• Monitor failed, unmatched and pending trades, investigate discrepancies and resolve exceptions.
• Ensure accurate recording of transactions and maintenance of operational records.

B. Corporate Actions

• Process mandatory and voluntary corporate actions, including cash dividends, stock dividends, bond coupons, redemptions, maturities, stock splits, rights issues, tender offers and exchange offers.
• Review corporate action announcements, entitlements, key dates and payment details.
• Coordinate voluntary elections with clients and custodians within applicable deadlines.
• Reconcile proceeds and entitlements, investigate discrepancies and follow up on delayed payments.
• Maintain working knowledge of CRS/FATCA, W-8BEN/W-8BEN-E forms, withholding tax, tax relief at source and tax reclaim procedures.
• Coordinate supporting documentation and follow up on refunds.
• Reconcile tax withheld and refunds received against custodian records and client entitlements.

C. Reconciliations and Reporting

• Perform daily cash, securities, positions and transaction reconciliations against bank, custodian, broker and internal records.
• Conduct omnibus/pool-level reconciliations where applicable.
• Investigate and resolve reconciliation breaks, ensuring proper documentation and timely escalation.
• Prepare operational reports, client statements and portfolio reports, ensuring data accuracy and timely delivery.

D. Payments and Cash Management

• Prepare, review and monitor client funding, withdrawals, settlement payments and other operational transfers.
• Maintain working knowledge of SWIFT MT103 and MT202 messages and payment investigation procedures.

E. Client Billing and Custodian Fees

• Manage monthly client billing, including fee calculations, collection of fees due.
• Verify fees against client agreements, approved fee schedules and relevant account activity.
• Reconcile custodian fees against invoices and agreed fee schedules, investigating discrepancies and unexpected charges.

F. Risk, Compliance and Controls

• Ensure operational activities follow applicable ADGM/FSRA requirements, internal policies and procedures.
• Identify and escalate unusual transactions, settlement failures, unexplained movements and operational risks.
• Support internal and external audits, regulatory reviews, control testing and remediation of findings.

G. Process Improvement and Team Coordination

• Develop and maintain operational procedures, checklists and process documentation.
• Identify opportunities to automate settlements, reconciliations, billing and reporting in collaboration with IT.
• Coordinate with Front Office, Compliance, Finance, IT and external service providers..

3. Knowledge and Competencies

• Knowledge of securities operations, settlement cycles, custody and DVP/RVP/FOP transactions.
• Understanding of corporate actions, dividends, coupons and voluntary elections.
• Experience in cash, securities, position and fee reconciliations.
• Working knowledge of SWIFT MT103/MT202 payments.
• Knowledge of client billing, fee collection, CRS/FATCA, W-8 forms and tax reclaims.
• Understanding of operational risk, internal controls and ADGM/FSRA requirements.
• Strong analytical, numerical, problem-solving and organizational skills.
• Proficiency in Excel and operational systems, with attention to detail and effective stakeholder communication.
• Prior experience in custody or securities operations is preferred. Knowledge of ADGM and DIFC regulatory frameworks is an advantage.