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