Senior Director - Asset Liability Management

Position: Senior Director - Asset Liability Management:

Senior Director - Asset Liability Management

The ALM desk within EIT&M plays a vital role in maintaining the financial health and stability of Emirates Islamic. The desk manages EI’s Balance Sheet exposure to market risks including rates, liquidity, and FX within the risk appetite approved by the Board. It must ensure that EI is adequately funded to meet its short- and long-term obligations, can withstand idiosyncratic and systemic risks, and remains compliant with all relevant regulatory requirements related to asset and liability management.

While managing liquidity and profit rate gaps, the desk uses approved interbank products to generate income, contributing toward EI’s Net Profit.

Job Purpose

The job holder, as part of the ALM team, is responsible for:

Liquidity Risk Management

• Managing AED current and reserve accounts with the UAE Central Bank.
• Ensuring FCY Nostros are adequately funded.
• Establishing a holistic view on funding requirements through coordination with business units and simulation into ALM positions and ratios.
• Optimizing the use of approved interbank instruments to manage tenors and consolidated liquidity gaps within ALCO-defined limits.
• Expanding EI’s interbank market access to enhance funding capacity.
• Managing banking book duration to minimize sensitivity to rate movements, reducing income volatility.
• Deploying on- and off-balance-sheet hedging strategies to manage PRRBB gaps within ALCO-defined limits.
• Periodically reviewing and proposing hedging strategies to EI ALCO.

Investment Book Management

• Managing EI’s fixed income investment/sukuk book in accordance with policy and parameters.
• Maintaining a healthy mix of HQLA and non-HQLA investments while making timely opportunistic investments for yield pick-up.
• Using repo HQLA investments for periodic HQLA testing and non-HQLA to generate liquidity as required.

ALM Profits

• Pricing Wakala, Murabaha, Repo, and Wa’ad trades to generate desk profits.
• Generating stable accruals and net profit through fixed income/sukuk investments.
• Capturing arbitrage opportunities in the market for locking in profits.

Governance – Regulatory and Internal

• Ensuring all ALM-related regulatory and internally defined requirements, ratios, and thresholds are met.
• Adhering to all ALM-related policies, Treasury Manual, and Treasury code of conduct.
• Working with UAE CB on new ALM products and initiatives.

Business Unit Support

• Pricing and reviewing customer Wakala deposits and its variants within the ALCO-approved delegation of authority matrix.
• Providing pricing guidance on assets.
• Introducing or upgrading existing products and services to meet changing client and business requirements.
• Making joint calls with business teams and FI to strengthen and diversify EI’s funding base.

Budgeting and Forecasting

• Working closely with Group ALM, Group Funding, EI, and Group Treasury Finance teams during budgeting and forecasting exercises.
• Determining long-term funding needs for timely planning of raising long-term funding.

Required Knowledge / Skill

• Money market, FX, and fixed income instruments.
• Understanding of the UAE Central Bank Dirham monetary framework.
• UAE CB liquidity regulatory ratios for Islamic banks.
• Liquidity and profit rate gap management.
• System knowledge of Bloomberg, FXT, Calypso, and Finacle.
• Knowledge of GCC market rates for MM, FX, repo, etc.
• Ability to work under pressure.
• Problem identification and solving skills.
• Leading product development and projects.
• Motivated self-starter who is well organized and a team player, capable of working with limited supervision.
• Strong interpersonal and communication skills.
• 10 years of regional experience in ALM or trading.
• Graduate/Postgraduate in Finance or Business Management.

Seniority Level

Executive

Employment Type

Full-time

Job Function

Other

Industry

Banking

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