Custody Services- Operations Support Officer Job at I&M Bank… See details on how to apply for the opportunities available at I&M Bank.
Descriptions;
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.
Responsibilities:
- 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
