Custody Services- Operations Support Officer at I&M Bank

I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking.

PURPOSE:

The incumbent will be tasked with providing support in the operations segment of the Custody and Investment Services Unit of I&M Bank. In general, the officer will be required to;

• Co-ordinate with all internal and external stakeholders in onboarding investment clients and processing transactions in line with the bank’s policies and procedures.


• Process securities settlements and carry out general banking activities in line with the capital markets regulatory requirements.


• Perform the day-to-day corporate actions including the timely dissemination of information to internal and external stakeholders.


• Perform reconciliation of accounts and accurate reporting of all cash and non-cash securities.


• Carry out the billing process and income collection as per the custody and banks tariff.


• Support the growth and implementation of the Custody & Investment Services strategy


• Any other duties as may be assigned.

KEY RESPONSIBILITIES:

CDS Operations

• Client onboarding- Opening of all investment accounts; Innova/Central Depositories (CDSC/ Central Bank of Kenya).


• Pre-matching of trade transactions with brokers & the exchange, ensuring a daily reconciliation before market deadlines.


• Escalation of any settlement transactions that may cause trade failure.


• Ensuring that all client requirement/communication/ queries are responded to or processed within the set TAT.


• Immobilisation, private transfer of securities, lien processing and other CDS account operations.

Settlements

• Settlement and reconciliation of all securities traded.


• Accurate processing of interest payments and maturities on the date of receipt.


• Monitoring funds received and ensuring that this are credited to the relevant accounts in a timely manner.


• Pro-active management of all client trades from start to end to ensure timely settlement.


• Correctness of entries with respect to funding, proceeds and tax liabilities thereof to the Client(s) cash accounts.

Corporate Actions Processing

• Information relating to all corporate action announcements are communicated and captured accurately and within set deadlines.


• Pro-active monitoring of Corporate Action entitlements and where required follow-up with the shares registrars to ensure receipt of client entitlements on or before due date.


• Reconciliation and processing of all cash and securities proceeds in a timely manner.

General Custody and Banking activities

• Processing of payment instructions on timely manner.


• Income collection of all fees and charges related to the department.


• Dispatch of custody reports on time as per the department reporting schedule.


• Maintenance of the common folder and custody assets register, ensuring correct records are maintained.


• Initiating process improvements to ensure accuracy and efficiency.

Reconciliation

• Review of all reconcilable accounts on a daily basis, ensuring timely resolution of outstanding items within the agreed age limit.


• Monthly reconciliations of all custody assets.


• Proper filing of documents and archival as per the procedure’s manual.

PERSON SPECIFICATIONS

Academic Qualifications

• Bachelor’s degree in any discipline from a recognized institution

Professional Qualifications

• Part completion of CISI/ACCA/CFA or its equivalent.

Experience

• At least three-years investments, banking or other relevant experience


• Good working knowledge the capital markets regulatory requirements, operations, and products


• Have a good understanding of all settlement related functions


• Experience in reconciliations will be an added advantage

Generic Competencies

• Technical skills


• Ability to communicate


• Report writing skills; and


• Numeric skills

Skills and Attributes

• Excellent communication and interpersonal skills


• Good marketing skills


• High level of accuracy and attention to detail


• Excellent time management skills & proactive in all aspects


• Must be able to perform optimally under pressure and with strict deadlines


• Ability to learn new systems fast


• Resilience and drive


• Ability to work with and in a team

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