Technical Support Officer Treasury Confirmations & Banking Relations (Outsourced )

About the Role

The Islamic Development Bank (IsDB) is seeking a Technical Support Officer for Treasury Confirmations & Banking Relations. This contract position is based in Jeddah, Makkah, and requires 2-5 years of relevant experience. The role is central to supporting the effective execution of treasury and banking operations, ensuring accuracy and timeliness in various financial processes.

Key Responsibilities

• Maintain and update IsDB account-related KYC requirements, terms and conditions, and account management documentation.
• Support the opening, closure, and periodic review of IsDB bank accounts, including the annual assessment of inactive accounts.
• Liaise with local and international correspondent banks on operational enquiries, account services, and banking support matters.
• Follow up with local banks on account-related, payment-related, and service-related matters to ensure timely resolution.
• Ensure trade confirmations are processed, validated, followed up, and archived accurately and within required timelines.
• Monitor back-valuation cases and prepare weekly status updates for management review.
• Track confirmation-related BRPs and coordinate with relevant stakeholders to resolve outstanding items.
• Provide dealers with missing commodity, counterparty, and transaction details to support timely trade processing.

Treasury Operations and Counterparty Coordination

• Follow up with local banks on pending payments, operational requirements, and related settlement matters.
• Review and validate overnight sweep transactions.
• Maintain accurate and updated Nostro account information to support treasury operations and payment processing.
• Communicate SSI updates to the SWIFT unit and relevant counterparties in a timely and controlled manner.
• Review new agreements and coordinate with counterparties on the exchange, confirmation, and maintenance of SSIs.
• Engage with local and international counterparties to resolve operational, documentation, and transaction-related queries.
• Ensure counterparty information, settlement instructions, and supporting documentation are complete, accurate, and up to date.

Reporting and Administrative Support

• Prepare memos, ad hoc reports, and weekly operational reports as required by management.
• Distribute the weekly maturity report and ensure proper archiving following supervisory review and processing.
• Compile weekly team meeting discussion points and circulate them to relevant stakeholders.
• Prepare and issue daily end-of-day reports while maintaining accurate records and supporting documentation.

Qualifications and Experience

• 2-5 years of experience in a related field.
• Demonstrated ability to manage bank account administration and trade confirmation processes.
• Experience in coordinating with counterparties and monitoring payments.
• Proficiency in preparing accurate and timely operational reports.

Work Environment

This role operates within the Islamic Development Bank (IsDB) in Jeddah, Makkah, as part of a dedicated team focused on treasury and banking operations. The position is offered on a contract basis.