NCBA Group Assistant Manager – Settlements Jobs in Kenya
Job Purpose Statement
Accountable for facilitating achievement of the department’s goals by ensuring that a cost effective high quality service is provided to our customers by effectively controlling tasks within the operations section.
Responsible for actual accurate settlements of cash, securities (Equities, Private Equity, Property, Offshore Investments, Derivatives, Fixed Income and Money Market instruments) while ensuring that all transactions are settled in
convention with the market rules, directives and procedures.
Deal with Clients, Fund Managers and Administrators telephonically, via SWIFT and email ensuring all transactions are settled according to SLA’s and relevant systems are updated.
Key Accountabilities (Duties and Responsibilities)
Operations & Settlements
Ensure all investment instructions are processed on time while ensuring compliance with the industry regulations and procedure manual.
Bring all problems and possible solutions to the settlements manager
Follow up on all excluded trades until resolved or escalate when not resolved in the required
timelines
Follow up on all failed trades until cancelled.
Advice operations manager on all system
related problems as soon as identified
Prioritize and plan effectively, have sense of
urgency to meet set deadlines
Adhere to procedures. Identify and suggest
amendments where necessary
Understand and manage risk associated with
the area of responsibility and its impact on the
bank
Continuously improve service offerings through
innovation and a future orientation towards automation
Demonstrate determination to achieve the
“right” business results, first time.
Ensure service is provided in accordance to
agreed standard service level agreement
Ensure all payment instructions are actioned on
time for scheme liabilities.
Liaison with other scheme service providers and counter -parties on a daily basis for efficient service provision and problem resolution e.g. The Nairobi Stock Exchange, Central Depository & Settlement Corporation, Central Bank of Kenya, Fund Managers, Administrators, Brokers,
Auditors etc.
Timely preparation and dispatch of reports on a regular basis to the Regulators, Fund managers
and Trustees. Send accounts statements to clients daily by 9am, copying the custodial group email.
Maintaining of accurate records for the various schemes in the System and securities register.
Ensure accurate and timely opening of
accounts (current, CDSC, CBK and safekeeping)
Resolution all queries raised in a timely, accurate and professional manner
Ensure the provision of a high quality and cost effective service to both internal and external clients by accurately analysing the clients’ needs and market developments in order to
define business requirements
Action all aspects relating to settlements of all securities within the required timelines of the market rules & directives and clients SLA to
prevent any penalties or reputational damage
levied against the bank
Revenue collection
To ensure that fee accrual procedures are carried out every month and posted to relevant accounts.
To ensure that fee invoices are prepared and
dispatched to clients by the fourteenth day of the
following month.
To ensure that income is collected on a monthly
basis and follow up done on any outstanding fees.
To reconcile income accounts (Accruals, Fees, and Transactions & VAT) on a monthly basis.
To ensure that proper records of custodial income are maintained and updated
Ensure compliance with implemented controls and
procedures
Compliance reporting and customer service
Timely advising of fund managers on received
income, payments, daily cash balances and maturity of investments
Query tracking and resolution. Ensure that
outstanding queries are actioned immediately
and not left unattended to without referral to
management
Ensure customer communications are sent out
promptly
Accurate and timely preparation and dispatch of
monthly returns to CBK
Obtain an understanding of ‘global best practice’ for optimization of human capital by focusing on value-added services.
Ensure that all services provided to external clients are in line with the SLA(Service level Agreements)/ Client Custody Agreements
Timely dispatch of monthly cash statements and
portfolio valuations to the fund managers.
Report all client issues to the relevant Relationship Manager
Attend regular meetings with the Head of
Department and ensure follow up on all outstanding issues and refer all contentious issues where need be
Responsible for the implementation and adoption within Custodial Services of all Compliance, AntiMoney Laundering and sanctions related requirements contained in policies, procedures and processes. This includes the consideration and approval of customers including those that require being subjected to Enhanced Due Diligence for on-boarding and continued business.
Reconciliation
Daily reconciliation of the custodial nominee accounts against T24 to ensure accuracy and
ensure zero differences.
Asset reconciliations to ensure depository and
Custodial management system are tallying (Against CDSC, CBK, Offshore administrators and physical certificates if any).
Responsible for asset transfer to and from other custodian.
Cash and income reconciliation for coupons and
dividends.
Learning & Innovation
Ensure that you are aware of your responsibilities Management Framework, Disaster Recovery Procedures(Business continuity Plans) and ensure that these documents are discussed and signed off on a regular basis
Take on additional responsibilities by making use of every opportunity to gain exposure/visibility
Cross-skill within custody operations to enhance ability to handle multiple tasks/back up roles
Conduct training to other staff members within the team on how to perform various day to day tasks
Strive to reach full potential, this will ensure job satisfaction
Identify and drive self-development needs, plan and arrange to attend trainings. Apply and share knowledge
Attend and proactively participate in all
departmental meetings/learning hour workshops/team builds and provide input to improve departments performance
Proactively offer assistance to line manager and
stretch to learn and grow by taking on more
responsibility or additional tasks delegated on an
adhoc basis.
Be responsible for and initiate own development
and career planning
Ideal Job Specifications
Academic:
A Business related degree or equivalent professional qualification.
Basic I.T & Accounting Qualification
Professional qualifications would be an added advantage:
CMA Securities Industry Certification (CISI).
CPA OR CFA
Desired work experience:
Minimum of 3 – 5 years experience in Custodial Services/Securities Services Industry.
How to Apply
For more information and job application details, see; NCBA Group Assistant Manager – Settlements Jobs in Kenya
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