Head of Operations Control Department

Job Description:

Responsibilities Summary:

The Control Head will monitor and ensure compliance to the implementing regulations, accounting standards, terms & conditions of the mutual fund, real estate fund and private equity fund valuations, including portfolio valuation, fee computation, various accruals, and income allocations, conduct periodic risk review and control assessments. In addition, the incumbent will be responsible for the review of the annual and semi annual Financial Statements and Audit reports and reconciliation of custody position with external custodians. Furthermore the selected candidate will validate all Internal and External reports prior to dissemination.

Specific Responsibilities:
- To ensure compliance to the Fund's T&C, adherence to the Investment Fund Regulation and Offering of Securities Regulation, new fund proposals, daily, weekly, and monthly Asset Management Reports.
- Review Operational Incidents and identify control gaps
- Conduct Risk Assessments and Control Reviews.
- Manage periodic reporting of operational risk incidents.
- Prepare initial draft of a fund's annual and semi annual financial statements with footnotes in accordance with IFRS/GAAP/SOCPA, and provide audit assistance to independent audit firms during the fund's annual and semi annual review.
- Manage (organization and production) the risk function pertaining to funds and asset management
- Develop and implement policies and procedures in line with SFC policies, for risk management pertaining to asset management.
- Perform weekly risk evaluations for all mutual funds; which include reconciliations between front and back office reporting, monitoring deviations against regulatory constraints and internal regulations.
- Perform periodic reconciliation of Securities and Cash with external counterparties.
- Prepare periodic risk reports to assure senior management that risks are being addressed at an appropriate level and that appropriate controls are in place.
- Prepare and organize periodic investment risk meetings and conduct monthly meetings highlighting significant risks relating to -
- Operations.
- Conduct risk reviews for all new investment products/services from an Operations perspective.
- Evaluate operational risk and suggest risk-mitigation techniques.
- Ensure the periodic assessment of the efficiency of risk management and issue recommendations to the COO.
Provide reporting on an ad-hoc basis to management, internal and external auditors, and the regulator on all Asset Management and -
- Brokerage related matters.
- Coordinate with PMO and IT to establish a sound risk management platform in terms of systems and processes.


Qualifications :

Required/Preferred Skills and Experience:
- Bachelor's degree in accounting or finance required
- CPA, FRM, PRM preferred but not required
- 7-10 years' experience in a similar role or investment analysis
- Background in accounting for various types of entities including mutual funds, private equity funds, hedge funds (Master Feeder Structures, Stand-alone Entities, Side by Side and Segregated Portfolios)
- Expertise in various investment instruments including equities, fixed income, options, futures, private equity, mutual fund investments and/or real estate
- Financial Statement Analysis, Fixed Income Analysis, Process study and review
- Ability to excel in a fast paced, entrepreneurial environment and ability to multitask.
- Strong communication skills, organizational skills and attention to details
- Manage teams with varied cultural and educational background.


Saudi National Preferred