Senior Financial Settlements Officer
Vacancy Number: 2264
Department/Unit: Finance / Financial Controls / Back Office
Date of Issuance: June 4, 2025
Deadline of Applications: July 3, 2025
Required Languages: English
Contract Type: Fixed Term Contract
Grade: Professional
Job Category: F
Recruitment Status: International
Contract Duration: Two-year fixed term appointment, with possibility of renewal
Job Profile
The Senior Financial Settlements Officer is responsible for coordinating the activities of the Back Office function and managing the relationship with the OPEC Fundโs custodian to maintain an excellent working relationship. The position is responsible for delivering a range of operational functions that support funding, investment portfolios, approving the settlement of trades, and issuing transaction confirmations executed by the Treasury Unit. Additionally, the Senior Officer manages Business Partnerโs Master Data, in accordance with the institutional strategy and framework, and also represents the team in various system or instrument implementation projects and working groups.
Duties and Responsibilities
Core Back Office Role:
Executes day-to-day back-office clearance for all trade execution and portfolio servicing activities including trade review, settlement and documentation, trade confirmations, portfolio servicing across a range of products including bonds, debts, swaps, repos, deposits FX transactions and exchange-traded derivativesMonitors settlements of transactions, including purchase/sell, hedging and coupon paymentsManages relationship with the OPEC Fundโs custodian, reporting, monitoring, reconciling the OPEC Fund's accounts and open new custodian accounts based on Treasury requirementsBuilds and maintains strong relationships with internal stakeholders, especially with Treasury trade execution desk and funding, as well as with external partners including market counter parts, and custodians, issuing and paying AgentsOversees collateral management, settlement of collateral (receiving and return, interest and other related payment) based on Risk Managementโs guidelines, and reconciliation of collateral accountsEnsures consistency of OPEC Fundโs global payment activities across multi-currencies through the OPEC Fundโs House Bank accounts with efficient and accurate implementation of paymentConfirms House bank accounts are monitored efficiently to secure sufficient liquidity for the OPEC Fundโs operational and disbursement requirementsWorks closely with the Information Technology Unit to ensure the use of up-to-date technology for financial-related database management and foster system upgradesVerifies the consistent interpretation and application of controls framework requirements across the teamโs processes and work programCollaborate across internal and external organizational boundaries in finding solutions and delivering resultsProvide leadership and guidance to the Back Office teamCoordination
Effectively prioritize and delegate work assignments within the team, developing and implementing solutions that create positive experiences and interactions with the Back Office team, trade execution desk and counterpartsCoordinates and communicates closely with Treasury and other counterparties as well as external service providers such as the OPEC Fundโs custodianActs as focal point for Operations, Loan Management, Procurement and House Banks in resolving issues with debit-payments and repaymentsAccounting
Supervises the necessary accounting procedures corresponding to settlement activitiesValidates the accounting of Member Country contributions, maintenance of related databases and calculation of balances and annual share priceValidates treasury transactions, valuations based on regular periods, calculation of accruals, realized/unrealized gains or losses, interest income on accrual basis and other tasksReporting
Reviews and contributes to periodic reports for disclosure of the OPEC Fundโs financial reports and for use by the OPEC Fundโs Management and Governing BoardResponds promptly to internal and external inquiries, underpinning the OPEC Fundโs strong customer service imageCarries out other tasks assigned by the Director, Financial Controls, that are related to the job function.
Qualifications and Experience
Masterโs degree in Finance, Banking, Business Administration, or a closely related fieldA minimum of 10 years relevant professional experience, of which five (5) years should have been in an international development institutionProfound understanding of financial instruments including loans, bonds and swaps from back-office perspective is requiredProficiency with one or more treasury management systems (e.g. SAP, Bloomberg, etc.) is requiredProven successful experience in leading and managing people and guiding and motivating teams is an assetFluent in English. Good working knowledge of Arabic, French or Spanish is an added advantage.Competencies
Ability to Work Under Pressure - The capacity to remain composed, focused and productive when facing tight deadlines, high-stakes situations and demanding workloads.Collaboration and Teamwork - The ability to effectively work with colleagues, stakeholders and partners to achieve shared goals.Customer Centricity - The ability to focus on comprehending and addressing customer needs; consistently deliver exceptional service and foster strong, lasting customer relationships. Decision making - The ability to analyze information comprehensively to make well-informed decisions; assess both immediate and long-term ramifications. Effective Planning and Follow Up - The ability to set clear goals and priorities; skillfully organize tasks for efficiency; consistently follow through on commitments and plans. Problem Solving Ability - The ability to identify issues adeptly, delve into root causes, and devise pragmatic solutions; demonstrate ingenuity and resourcefulness in overcoming challenges.