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Treasury Senior Manager - Middle Office

Date: 09-Jun-2019

Location: Dubai, AE

Company: Majid Al Futtaim


Job Title:

Job Code:

Treasury Senior Manager - Middle Office


Job Holder (if currently filled):




Reporting to:

Division/Department (if available):

Head of Treasury Middle and Back office and Head of Finance

Majid Al Futtaim Holding Finance

Supervising (if applicable):

Job location:


Dubai, UAE


Last revised:


Job Purpose:


Majid Al Futtaim Holding Treasury works within Board approved policies in terms of internal control and risk management. The Middle Officer will organize & manage the Middle Office in a way to be able to fulfill its monitoring and controllership roles and ensure conformity with the internal risk framework at all times. The job will report to Head of Treasury Middle and Back office. However, given the nature of the role, it will also report to Head of Finance allowing for freedom and independence to raise compliance issues, limit breaches, P&L reporting etc.


The candidate should be a strong professional with a combination of keen analytical /conceptual ability with enthusiasm for establishing systems and framework to meet business needs. The incumbent is expected to handle the middle office independently and stand up to senior management on contentious issues, if any. The candidate must actively search & reapply best practices, be a strong team player and possess maturity to manage the complexity of dual reporting lines due to the Middle Office nature.  


Job Details – Key Responsibilities and Accountabilities:

  • Develop and maintain a framework that allows for adequate control of financial and operational risks arising from Treasury activities
  • Monitor, analyze and report all Treasury limits and report breaches to Risk Committee: Trading, liquidity & funding, counterparty, settlement, portfolio.
  • Prepare / Validate all the Treasury exposures including valuations and P&L calculations  in relation to financial risks
  • Monitor compliance of all the Treasury activities versus the approved Policies
  • Establish and manage a set of performance measurement metrics for Treasury activities
  • Ensure all processes and controls are fully documented
  • Manage Business continuity and Disaster recovery processes
  • In charge of all the Treasury activity reporting, including Risk Committee, Banks, Management, credit rating agencies and become a referent person on these issues for external and internal auditors
  • Perform regular mark to market / revaluation of all the Treasury position and cross check them with bank’s sources
  • Monitor operational risk controls including reconciliation of bank signatory powers internal and external records.
  • Treasury Management System (TMS): Responsible to manage TMS for middle office related activities. Be one of the system admins to ensure that roles and responsibilities are well defined in TMS, appropriate control on user access and segregation of duties and approval workflows.
  • Cash Management: Role will also assume responsibility to management of cash group wide, continuously monitoring and repatriating any excess cash to Holding in line with Treasury Policy. 
  • Analytical support on special projects: Treasury follows ‘flow to work’ approach based on skills/capacity in allocating project work. This offers interesting and aspirational deliverables on broad scope of areas such as Risk Management, Corporate & Business Finance, M&A due diligence, Systems implementation, Working Capital Optimization, etc.


Key Tasks:


Reporting: Preparation of reports for CFOs, Risk Committee, Group Board and external Rating Agencies

Derivative Operations: Monthly reporting of valuations, hedge accounting including effectiveness testing, liaising with Back-Office for derivative settlements and collateral management

Compliance: Segregation of Duties within Treasury, analyzing and recommending changes on Treasury policies and procedures (viz. Delegation of Authority and Treasury policies),  liaising with Internal and external Auditors

Policy Limit and KPI Monitoring: Monitoring of limits set by Group Board and highlighting the risk of limit breaches to Treasury. Setting and monitoring Treasury-wide KPIs.

Analytics: Providing analytical and/or market intelligence support to various functions in Group Treasury.

Special Projects: On need basis, this can include but not limited to ad-hoc projects in Corporate Finance, Business Finance, Risk Management, M&A due diligence, Systems implementation, Working Capital Optimization.


Measure of Success – Illustrative KPIs:


Internal audit scoring, including absence of major compliance or risk issues

Completion of projects : Set up of systems to monitor proactively

Accuracy and timeliness of reporting

Frequency and quality of innovative/improvement ideas for treasury processes

Customer feedback – internal and external

Quality of analytics & business ideas based on market sensing


Other Context (if applicable):


Qualification, Experience, Personal Characteristics and Required Background:



  • University Master’s degree with Finance qualifications
  • CFA and/or FRM are a plus



  • Preferably 7-10 years of corporate finance experience, including 3-5 years Corporate Treasury experience in a multinational company



  • Strong functional expertise in Finance & Treasury controls possibly in a multinational company
  • Strong intellectual leadership, ability to “read” the markets and properly brief the team and the management
  • Dedication, high integrity & sensitivity to confidentiality, and ability to work under pressure are critical qualities. 
  • Effective communication and ability to stand behind her/his own proposals
  • Ability to listen to internal customer and propose solutions in an efficient way
  • Strong technical financial background with past exposure to debt capital markets
  • Reliability, ability to work by objectives, problem solving attitude, and ability to take decision independently.
  • Team player.
  • Additional qualifications of CFA and/or FRM are a plus.




Signature of Job Holder:


Approved By




Head of Division/Department/Sec:


Head of Human Resources: