EVP, Head of Retail Equities Brokerage and HNWI
Full time
at Al Ramz PJSC (ALRAMZ:UH)
in
UAE
Posted on January 9, 2025
Job details
EVP, Head of Retail Equities Brokerage and HNWI
Al Ramz Corporation Capital is seeking an Executive Vice President, Head of Retail Equities Brokerage & High-Net-Worth to join our growing team. The incumbent will be responsible for leading the business of all brokerage activities and maximizing returns to the business and its clients. Ensure that all brokerage activities are in line with the prescribed standards, policies, and procedures of the business and the regulatory requirements. Will actively contribute to bringing new business to the Company on a regular basis through active participation in business development activities of the Company. Key Responsibilities:- Lead and motivate the team of brokers assigned to HNW & Retail Equities Department on their trading activities, getting orders, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity values, and checking records of daily transactions and holdings. Work closely with Trading Manager and research team to identify investment opportunities.
- Develop and implement a detailed short to long-term strategy with a plan on how to promote the company's products and services.
- Provide a consistent, high-quality trading service for the HNW clients and meet/exceed the targets set by the Management, especially in the areas of bringing new business to the Company.
- Update the company's database of competitors and clients (previous, current, and potential).
- Lead a team to achieve monthly targets set for the department in the HNW & Retail Equities Performance and Incentive Manual.
- Determine market trends and develop trading plans and strategies to maximize return to the business and its customers.
- Review and approve reports of Broker Representatives that summarize daily trading transactions and earnings for individual customer accounts.
- Verify the schedule prepared by Brokers and coordinate the transfer and delivery of share certificates between companies, departments, and customers.
- Supervise and report on total holdings, interest, brokerage fees, and commissions.
- Provide documentation of eligible brokers to receive a commission payout to Finance, HR, and Executive Management as per the Brokerage Commission Calculation in the HNW & Retail Equities Performance and Incentive Manual.
- Continuously manage and track Brokers pending orders to avoid backlogs.
- Report any regulatory breach to the Risk and Compliance Department and Executive Management.
- Ensure that all trading activities pertaining to the department are within the regulatory requirements by verifying the relevant brokers' activities on a regular basis and checking whether they are adhering to all regulatory requirements and internal policies and procedures.
- Ensure that errors are controlled, and frauds are prevented, detected, and reported immediately through the appropriate channels.
- Provide monthly activity reports and operational results comparison for the Executive Management. Liaise between reporting brokers and Client Relationship Management and the Back Office.
- Respond to client queries and provide them with adequate information/stock performance through Customer Relations Management.
- Ensure regular meetings with clients on a monthly or quarterly basis are held to ensure they are satisfied with the services and discuss areas for development. Provide corporate access to clients through meetings with listed companies' management and conference calls. Ensure professional coverage and protect clients' information by applying market rules and taking necessary measures like the Chinese Wall.
- Effectively interact, establish regular communication channels, and actively maintain formal relationships with all internal departments, Customer Management Team, Finance & Operations, and Branch Offices to ensure and facilitate seamless single-contact services to all clients as required.
- Approve allocated payment requests submitted by the team as appropriate for each client.
- Keep informed on the latest developments in Finance and Securities Brokerage. Review specialized publications and other similar sources to stay updated on developments in this area.
- Mandatory to hold a minimum of Bachelor's Degree in Finance, Banking, or Accounting.
- Trading License from ADX and DFM is a must.
- Minimum seven (7) years of experience in the same industry at a senior role.
- Desirable CPA/MBA or equivalent.
- Strong financial and stock market trading business background is a must with good knowledge and exposure to ADX, DFM, and SCA rules and regulations.
- Strong quantitative and analytical skills, innovative, problem-solving, and interpretative skills.
- Experience in premium customer relationship management and employee management.
- Able to work in a fast-paced high-pressure trading environment.
- Network-oriented with the ability to build and maintain relations with clients and liaise with all business units.
- Excellent communication and presentation skills, fluent in Arabic and English.
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