Alfaisal University - College of Business

Final report suggested template and guidelines

Student Name : (Abdullah Alajlan 210245 )

Company : (Jadwa Investment)

Supervisor Name :

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 ‫المحتويات‬
Executive Summary ......................................................................................................................... 3

Introduction .................................................................................................................................. 3

General Description: Jadwa Investment Company ........................................................................................ 4

The main tasks and experiences in the operations of special funds in Jadawa: .......................................................... 4

Acquired skills and knowledge and their relevance to finance courses (COB) .......................................................... 6

Overall evaluation of the training experience .............................................................................................. 9

Conclusion ................................................................................................................................. 10

Appendix .................................................................................................................................. 11

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Executive Summary

This report provides a summary of the four-month cooperative training experience in the fund
operations department of Jadwa Investment, a leading Shariah-compliant investment management firm in the
MENA region. The report was prepared as part of the finance specialization requirements. During the training
period, the focus was on gaining practical experience in fund management processes, and the main tasks
included evaluating funds using APX and Excel, matching financial statements between different systems
(Jadawa, Riyad Bank, Bank Albilad), confirming customer balances, entering fees, and executing financial
transfers. These assignments have allowed the application of academic knowledge gained in courses such as
investment analysis, portfolio management, financial markets, and financial accounting. A set of important
technical and analytical skills were acquired, most notably dealing with specialized financial software,
analyzing and matching data accurately, and evaluating the performance of funds. Operational skills related
to understanding the fund operations cycle, transfer procedures and handling customer data were also
developed. On a personal and professional level, problem-solving skills and effective communication with
colleagues have been honed. and customers, time management, accuracy and attention to detail. The
experience faced some challenges related to dealing with systems and big data, avoiding input errors, unifying
data between different systems, and effective communication with customers, and it was successfully dealt
with through collaboration and the search for practical solutions, which constituted valuable lessons for the
future. Overall, Jadwa Investment's internship experience has been successful and rewarding, providing a
deep understanding of the business environment in the financial services sector and enhancing readiness to
enter the labor market thanks to practical experience and acquired skills.

Introduction

This report provides a comprehensive overview of my cooperative training experience at Jadwa

Investment as part of the requirements of the Cooperative Training Program in Finance. The internship lasted
for four months, during which I joined the Special Funds Operations Department. This report illustrates the
practical and knowledge experiences I gained during the internship, focusing on the tasks assigned to me, the
challenges I faced, the solutions reached, as well as the skills developed and their relevance to the knowledge.
Academic acquired in finance courses. The report also includes a brief description of the work environment
at Jadwa Investment, and a general assessment of the experience and its impact on refining professional and

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personal skills.

General Description: Jadwa Investment Company

Jadwa Investment is a leading financial institution headquartered in the Kingdom of Saudi Arabia,
with a prominent position in the investment management sector and providing specialized advisory services
in the MENA region. The company was established with the aim of meeting the growing investment needs
in the region, while fully adhering to the provisions and principles of Islamic Sharia in all its transactions and
investment products. Headquartered in Riyadh, Jadwa is supported by a network of regional offices that allow
it to serve a wide client base. The company is characterized by a prudent investment philosophy based on
achieving sustainable and long-term value for its customers, based on a set of basic principles that include
wisdom and sobriety in making investment decisions, focusing on areas of expertise in which it is
distinguished, dealing with the utmost honesty and credibility, and fulfilling pledges and promises towards
customers and partners. Jadwa manages a variety of assets for its clients, and its services include managing
public and private investment funds, managing private portfolios, and providing financial and investment
advice. According to information available on its official website until May 2025, the value of client assets
managed or advised by the company is about SAR 66.4 billion, which reflects the confidence it enjoys in the
market and its ability to attract and manage large investments. The company places great emphasis on
attracting and developing human competencies, believing that a qualified team is the main pillar to provide
high-quality services and achieve continuous success. Jadwa clients rely heavily on the expertise and
competencies of the team in managing their investments and achieving their financial goals

The main tasks and experiences in the operations of special funds in Jadawa:

• Fund Valuation and Reporting with APX

I was working on the APX app weekly to collect raw fund data. I learned to use the comparison tool to
generate in-depth performance reports for multiple Islamic mutual funds. At first, the system was slowing
down due to huge data sets. I split the data into smaller batches. It quickly provided clear and accurate
reports highlighting key metrics. It also made sure to include an executive summary for each report
highlighting potential strengths, opportunities and risks, making it easier for senior management to make
quick decisions based on accurate data.

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 • Create custom Excel templates for analyzing bank funds

Created custom spreadsheets to measure the annual returns and Sharpe ratios of Riyad Bank funds. Each
worksheet is named to match exactly the name of the box. The numbers are entered carefully to avoid any
confusion between boxes with similar names. Advanced Excel templates have been developed to display
these indicators, as well as Pivot Charts extensions that make it easy to compare the performance of boxes
across different time periods.I periodically matched the APX data with Riyad Bank and Bank Albilad
records using the "four-point reference" method (APX, Excel, and original). I explored variances of up to
3% and analyzed their factors, such as errors in entering dates or variations in box codes. After
communicating with the country operation teams, I coordinated a standardized code list, reducing the error
rate to less than 0.5%. I used to split big data into batches of no more than 1,000 rows to avoid system
slowdowns and ensure better tracking For modifications. The different box codes forced me to coordinate
with their operations team. We agreed on a list of uniform codes. Adjusted the rules of comparison to
ignore inactive funds.

• Communication and CRM

I was responsible for confirming fund client balances via professional emails and phone calls, and set up
a simple follow-up form in Excel to monitor call history and response. This method raised the response
rate to 80% within 24 hours, compared to 23% by mail only. The short virtual meetings (10-15 minutes)
allowed me to understand clients' needs and provide quick clarifications about investments, boosting their
confidence and faster processing.

• Data entry and updating consulting data

One of my important responsibilities included entering entry fees for resident funds in APX. I followed a
checklist I set up myself to avoid deprecated entries or duplicate codes. After each data entry, the payment
was sent for approval by the manager after careful review using structured checklists. I was the most up-
to-date Four Public Fund Advisory records weekly. I made sure that the asset assignments matched the
latest market values before saving the file.

• Execution of bank transfers

I was trained in making foreign transfers where I attended external transfers from Jadwa account at
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 Banque Saudi Fransi to offshore banks. I collected all supporting documents, verified signatures, and
then submitted the transfer request. Having one attachment missing meant repeating the process, so I
learned to recheck each model.

• Preparing inventory liquidation reports for the Sharia Department

I led a small business to liquidate and record old inventory items. I prepared a liquidation report and
submitted it to the Sharia Compliance Team. They used my numbers to update their internal audit.

• Operations Review and Future Planning

At the end of the internship, I joined the team to revisit standard operating procedures. Minor adjustments
were proposed to speed up data matching. I drafted a six-month plan outlining repetitive tasks and timing
windows to help the intern next year get started working immediately.

Acquired skills and knowledge and their relevance to finance courses (COB)

The internship period at Jadwa Investment provided a valuable opportunity to apply the theoretical
knowledge gained in the finance specialization courses within a professional work environment, and to
acquire a set of basic practical and knowledge skills that are the cornerstone of financial and banking work.
The most prominent skills and knowledge acquired can be detailed and linked to the concepts studied at
the College (COB) as follows:

• Technical and analytical skills:

1. Use of specialized financial software (APX and Excel):

Extensive handling of APX for fund valuation and fee entry, and Excel for evaluating and matching
data, was a core technical skill. This has been directly linked to investment analysis and securities
valuation courses that require understanding and using similar tools to analyze financial performance
and calculate important metrics (such as returns and Sharpe ratio). Building Excel templates and
applying advanced formulas also enhances the skills acquired in financial modeling and data analysis
courses.

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 2. Analysis and reconciliation of financial statements:

The tasks of matching fund data between different systems (Jadawa, Riyad Bank, Bank Albilad) and
cash statements required accurate skills in analyzing data, identifying discrepancies and tracking
sources of errors. This skill is fundamental and intersects with the concepts of financial auditing and
financial accounting, where the importance of accurate financial records and reconciliation and
reconciliation processes is emphasized to ensure the integrity of financial reports.

3. Evaluation of the performance of funds:

The preparation of evaluation reports and the calculation of metrics such as annual returns and Sharpe
ratio contributed to deepening the practical understanding of the principles of portfolio management
and evaluation of investment performance that are theoretically studied in investment and portfolio
management courses.

• Operational and procedural skills:

1. Understand fund management processes:

Engaging in day-to-day tasks (valuation, reconciliation, balance confirmation, fee entry, transfers) has
provided a deeper understanding of the life cycle of private funds operations and their operational
procedures, complementing the theoretical knowledge gained about mutual fund structures and
operations in markets and financial institutions courses.

2. Handling and verifying customer data:

The customer credit assurance mission emphasized the importance of accurate customer data and the
need for rigorous verification procedures, which is an important aspect of customer relationship
management and regulatory compliance addressed in banking and financial services courses.

3. Remittance Procedures:

The Bank Transfer Execution function provided hands-on experience in the procedures followed and
the verification of required documents, enhancing a practical understanding of treasury and cash
management operations.

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 • Professional and personal skills:
• Problem solving: I faced various challenges such as system failures, data discrepancies, different box
codes, and delayed customer responses. Dealing with these challenges required developing problem-
solving skills through cause analysis (such as splitting big data, reviewing source documents,
communicating with stakeholders) and finding practical solutions (e.g., consulting colleagues,
developing consolidated lists, telephone follow-up).
• Professional communication: The work entailed continuous coordination with colleagues within the
department, communication with other teams (such as the country operations team, the IT team), and
direct communication with customers via email and phone. This has contributed to the development
of written and oral communication skills in a professional context, which is an essential skill
emphasized in various business management courses.
• Time management and organization: Completing multiple tasks within the specified schedules,
especially with sometimes work pressure, required developing time management skills, setting
priorities, and dividing large tasks into smaller parts to ensure accuracy and efficiency.
• Accuracy and attention to detail: The nature of financial work, especially when dealing with fund
valuations, fees and financial statements, emphasized the paramount importance of accuracy and
attention to detail to avoid costly mistakes. This skill has been enhanced through practice and the use
of checklists and periodic audits.
• Continuous learning and adaptation: Dealing with the APX system for the first time, understanding
the company's internal procedures, adapting to unexpected challenges, required the ability to learn
quickly and adapt to the changing work environment.

Overall, the internship experience formed a vital bridge between academic knowledge and professional
practice, where financial and management concepts were applied in practical contexts, deepening
understanding and developing an integrated set of technical, operational and interpersonal skills
necessary to succeed in the financial services sector.

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Overall evaluation of the training experience

Overall, the experience of cooperative training in Jadwa Investment's Fund Operations department was
very enriching and useful both professionally and personally. This period provided me with a unique
opportunity to immerse myself in a real work environment for the financial services industry, apply the
academic concepts I studied in finance, and gain a deep understanding of the challenges and
opportunities in this field.

❖ Positive aspects:
o Intensive hands-on exposure: The experience was not limited to monitoring, but also involved
actual engagement in basic operational tasks such as fund valuation, data reconciliation, customer
communication, and financial data entry. This direct exposure has contributed significantly to
accelerating the learning curve and deepening the practical understanding of financial procedures.
o Acquisition of technical skills: Learning and using specialized tools such as APX and Excel was a
pivotal part of the experience, adding valuable technical skills that are in demand in the financial
labor market.
o Developing problem-solving skills: During the training, I faced various practical challenges
(technical, data, communication), and dealing with them and finding appropriate solutions
(sometimes with the help of colleagues) was an excellent opportunity to develop analytical and
problem-solving skills under work pressure.
o Supportive work environment: Collaboration with colleagues and supervisors played a positive role
in the experience, providing the necessary support and guidance, and sharing their experiences and
shortcuts to facilitate the completion of tasks and overcome difficulties
o Understand the importance of accuracy and documentation: The nature of sensitive financial
tasks emphasized the paramount importance of accuracy in data entry and matching, and the need for
accurate documentation of all procedures and decisions, which is a very important practical lesson.
❖ Challenges and lessons learned:

The experience was not without some challenges that in turn constituted valuable lessons for the future:

1. Dealing with systems and big data: I initially had difficulty dealing with the APX system and
crashes due to data volume, which taught me the importance of splitting labor and looking for
effective ways to deal with big data.
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 2. Data entry errors: Some errors occurred during data entry (such as confusing similar box names or
omitting some fees due to duplicate codes), which emphasized the need to use checklists, careful
review, and task division to avoid mental burnout and reduce the risk of errors.
3. Data variation between systems: Data matching between different systems (Jadwa Albilad) posed a
challenge due to different coding or delayed data receipt, highlighting the importance of proactive
communication with other parties and standardization of standards and procedures.
4. Communication with customers: Credit confirmation experience has shown that relying on email
alone may not always be enough, and that telephone follow-up is necessary in some cases, with the
importance of taking into account customer circumstances (such as vacations) and planning ahead.

Overall, the internship experience at Jadwa Investment was a milestone in my educational and
professional career. It has strengthened my confidence and abilities, honed my analytical, technical
and communication skills, and given me a clear vision of the nature and requirements of working in
the investment management sector. I now feel more willing to engage in the labor market and
contribute effectively to this vital field.

Conclusion

At the conclusion of this report, it can be said that my internship at Jadwa Investment has been an integrated
and valuable learning and practical experience. Over the course of four months in the Private Fund Operations
Department, I was able to gain an in-depth understanding of the nature of work in the investment management
sector, and get a closer look at the procedures and systems used in fund valuation, data reconciliation,
customer relationship management, and the execution of various financial operations . I have From using
specialized applications such as APX and Excel, to direct communication with clients and internal teams, the
various tasks assigned to me gave me the opportunity to apply the theoretical knowledge gained in finance
into practical skills. The challenges I faced, such as dealing with big data, debugging and coordinating
between different systems, also honed my problem-solving, critical thinking and adapting to dynamic
business demands. I have This experience was an important stepping stone towards my future career in the
financial sector, and provided me with the foundations and skills to succeed in this competitive field.

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Appendix

Progress Report (to be completed by Intern)

(Form C)

Student Name: (Abdullah Alajlan 210245 )

Company: (Jadwa Investment)
Supervisor Name: (Name)
Date: From (dd/mm/yy) to (dd/mm/yy)

Accomplished this Month

Day / Date Main Objectives, Tasks, Lesson & Challenges
First week Objectives:
- Evaluate Jadwa Funds using the APX App.
- Prepare Riyadh Bank fund evaluations in Excel.

Tasks:
- Tested the APX App for the first time; struggled initially with features like
the comparison tool but eventually generated detailed reports for 5
Jadwa Funds.
- Created an Excel template for Riyadh Bank funds, focusing on metrics
like annualized returns and Sharpe ratio

Lessons learned:
- The APX App saves significant time but requires practice to master
advanced features.
- Double-checking fund names in Excel is critical—I mixed up two funds
with similar titles (e.g., “Saudi Equity Fund A” vs. “Saudi Equity Fund B”).

Challenges faced:
- APX crashed twice due to large data uploads, delaying the process

Solutions to the challenges:

- Split data into smaller batches and consulted a teammate who shared
shortcuts to avoid system lags.
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 Second week Objectives:
- Reconcile Riyadh Bank data in Excel.
- Match quantities of Jadwa Funds with AlBilad Funds.

Tasks:
- Identified a 3% discrepancy in Riyadh Bank’s records—traced it to an
incorrect investment date entry.
- Matched 90% of Jadwa-AlBilad funds after adjusting comparison criteria
(e.g., excluding inactive funds)

Lessons learned:
- Never assume raw data is error-free! Cross-referencing with source
documents is a must.

Challenges faced:
- AlBilad’s system used different fund codes, causing confusion during
matching.

Solutions to the challenges:

- Collaborated with AlBilad’s operations team via email to align coding
formats.

Third week Objectives:

- Confirm client balances for their fund holdings.

Tasks:
- Sent 30 balance confirmation emails; only 7 clients replied within 24
hours.
- Called 10 unresponsive clients—one was upset about a prior delay but
appreciated the follow-up.

Lessons learned:

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 - Phone calls resolve issues faster than emails for urgent cases.

Challenges faced:
- Some clients were on unannounced leave, delaying responses.

Solutions to the challenges:

- Checked the public holiday calendar beforehand for future
confirmations.

Fourth week Objectives:

- Enter evaluated funds’ entry fees into APX and submit for manager
approval.

Tasks:
- Input fees for 50 funds but missed 2 due to duplicate codes.
- Manager spotted the error during review; I corrected it immediately and
apologized

Lessons learned:
- Always use a checklist before finalizing sensitive entries.

Challenges faced:
- Time pressure led to mental fatigue, increasing error risks.

Solutions to the challenges:

- Broke tasks into smaller chunks (10 funds/hour) and took short breaks

Planned for next month (If any)

Day / Date Tasks to do
First week
Second week

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 Third week
Fourth week

Progress Report (to be completed by Intern)

(Form C)

Student Name: (Abdullah Alajlan 210245 )

Company: (Jadwa Investment)
Supervisor Name: (Hassan Hakami)
Date: From (dd/mm/yy) to (dd/mm/yy)

Accomplished this Month

Day / Date Main Objectives, Tasks, Lesson & Challenges

First week Objectives:

✓ Reconcile data between Jadwa and AlBilad funds.

✓ Review and verify Riyadh Bank data in Excel.

Tasks Completed:

✓ Reviewed and reconciled subscription and redemption data between AlBilad and the
appraisal system, then sent the updated report to AlBilad.

✓ Identified discrepancies in the Riyadh Bank data and corrected errors after consulting
the original documents.

✓ Updated the "4 Public Funds Advisory" data on a daily basis.

Lessons Learned:

✓ Relying on a single data source without cross-checking can lead to sensitive financial
errors.

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 ✓ Documenting any changes made is essential for facilitating later audits.

Challenges and Solutions:

 Experienced delays in receiving some subscription data from AlBilad.

✓ Solution: Maintained consistent follow-up with the AlBilad team to ensure

timely receipt of data.

 Encountered mismatches in fund codes between Jadwa and AlBilad.

✓ Solution: Developed a unified list of codes to be used across all systems.

Second week Objectives:

✓ Confirm client balances for their fund holdings.

✓ Perform financial matching between the system and the Excel file.

Tasks Completed:

✓ Sent out confirmation emails to clients regarding their balances and received responses
from a portion of them within one day.

✓ Conducted matching of subscriptions between the system and the Excel file, correcting
discrepancies in several cases.

✓ Received weekly subscription and redemption data and updated liquidity accordingly.

Lessons Learned:

✓ Phone calls are often more effective than emails for resolving urgent issues.

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 ✓ Maintaining a flexible schedule is key when dealing with unexpected client delays.

Challenges and Solutions:

 Some clients did not respond promptly due to travel or other commitments.

✓ Solution: Followed up with direct phone calls to expedite the confirmation

process.

 Faced delays in updating liquidity due to technical issues with the system.

✓ Solution: Coordinated with the IT team to resolve the technical problem and
manually updated the data when necessary.

Third week Objectives:

✓ Enter entry fees for evaluated funds into the APX system and submit for managerial
review.

✓ Execute bank transfers from Jadwa (BSF) to external banks.

Tasks Completed:

✓ Entered entry fees for most funds into the APX system, identifying and correcting errors
in a few cases.

✓ Successfully completed all required bank transfers after verifying supporting

documents.

✓ Carried out the stock purification process and sent the report to the Sharia department.

Lessons Learned:

✓ Breaking down large tasks into smaller, manageable segments reduces the risk of errors
and speeds up completion.

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 ✓ Verifying financial data before entry is crucial to avoid costly mistakes.

Challenges and Solutions:

 High work pressure led to some data entry mistakes.

✓ Solution: Divided tasks into smaller portions and implemented periodic

reviews after each segment.

 Experienced delays in receiving supporting documents for bank transfers.

✓ Solution: Maintained direct communication with the support team to ensure

documents were provided on time.

Fourth week Objectives:

✓ Match the cash statement for the funds.

✓ Plan for the upcoming month and establish recurring tasks.

Tasks Completed:

✓ Completed a thorough reconciliation of the cash statements, ensuring that all numbers
were consistent.

✓ Updated the "4 Public Funds Advisory" data as required.

✓ Reviewed and updated work procedures to enhance overall efficiency.

Lessons Learned:

✓ Keeping a detailed log of all completed operations simplifies monthly reviews.

✓ Team collaboration is critical for identifying mistakes and preventing repetitive errors.

Challenges and Solutions:

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  Encountered incomplete data that required additional review.

✓ Solution: Created a checklist to ensure all necessary data was received in

advance.

 Faced delays in receiving routine reports from other departments.

✓ Solution: Established strict deadlines for report submissions and improved

communication with all departments involved.

Planned for next month (If any)

Day / Date Tasks to do
First week
Second week
Third week
Fourth week

Progress Report (to be completed by Intern)

(Form C)

Student Name: (Name)

Company: (Name)
Supervisor Name: (Name)
Date: From (dd/mm/yy) to (dd/mm/yy)

Accomplished this Month

Day / Date Main Objectives, Tasks, Lesson & Challenges
First week Objectives:
• Understand the mechanism of weekly cash revaluation of the Saudi
Equity Fund and ensure the accuracy of the financial statements
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 Tasks:
• Review the purchases and sales carried out during the week in the fund.
• Record the outstanding funds after two days and add them to the fund's
account.

Lessons learned:
• I learned the importance of accurate timing in recording pending funds
to ensure that balances are updated correctly.
• She gained experience in handling daily trading data and its impact on
the fund's valuation.

Challenges faced:
• The update of pending funds data was delayed due to different entry
timings between systems.

Solutions to the challenges:

• Coordinated with the operations team to standardize input timings and
adjust the weekly update schedule for APX compliance.

Second week Objectives:

• Implement the weekly cash revaluation process and ensure that it
matches the APX system.

Tasks:
• Conduct monetary revaluation of all funds, with a focus on the Saudi
Equity Fund.
• Verify that the cash deposited in Jadwa Bank has been entered correctly
into the APX system

Lessons learned:
• I understood the role of the APX system in managing fees and financial
valuations of mutual funds.
• I learned how to monitor differences between actual cash statements
and the valuation system to ensure accurate calculations.

Challenges faced:
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 • There is a difference in monetary revaluation between the banking
system and the APX system.

Solutions to the challenges:

• I analysed the differences in collaboration with the IT department to
identify their causes and correct them in the system.

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 Third week Objectives:
• Enhancing asset valuation skills within the Saudi Equity Fund in
accordance with the standards of the Saudi Capital Market.

Tasks:
• Follow up the movement of shares listed in the fund and analyze their
impact on the value of the fund.
• Update the fund's data based on the performance of stocks according to
the Saudi market indices.

Lessons learned:
• I learned the importance of following market indicators and their impact
on the valuation of investment funds.
• I gained knowledge about portfolio diversification strategies and risk
reduction.

Challenges faced:
• Delay in obtaining performance data on some listed stocks due to
market updates.

Solutions to the challenges:

• I used reliable alternative sources to temporarily update the data and
informed the responsible team to follow up on the official update .

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 Fourth week Objectives:
• Prepare a comprehensive monthly report on the performance of the
Saudi Equity Fund and review administrative fees.
Tasks:
• Collect and analyze the Fund's financial performance data during the
month.
• Enter administrative fees in the APX system and review them with the
accounting team.

Lessons learned:
• I understood how to link the financial performance of investment
products to management fees.
• I learned the importance of accuracy in data entry to ensure the
transparency of financial reports.

Challenges faced:
• There is a difference in the calculation of fees between the financial and
administrative systems.

Solutions to the challenges:

• Coordination was made with the accounting department to standardize
the calculation of fees and correct the data in the system

Planned for next month (If any)

Day / Date Tasks to do
First week
Second week
Third week
Fourth week

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