Job Purpose
Responsible for the day to day running of the Custody Operations area.
To assist the Head of Custody in achieving the division’s goals by ensuring a cost effective, high quality service is provided to our customers, by effectively managing and controlling the Settlements Section reporting to this post.
Ensure the provision of a high quality and cost effective service to both internal and external clients by accurately analyzing the clients’ needs and market demands in order to define business requirements.
Provide guidance – be responsible for the development and career development of self and sub-ordinates, by ensuring that Supervisors drive the formulation of workshops in conjunction with the training centre, thereby ensuring that staff is adequately trained, skilled and motivated.
Keep staff informed of any market /procedural/system changes and future direction of Custody Services
Ensure costs to the Bank are kept in line with the budget by constantly monitoring and controlling all expenses.
Identify areas of risk and ensure that proper controls are in place to eliminate / minimize risks and losses. Must drive the Supervisors to take responsibility for the Risk Management Framework and ensure that this is updated regularly by implementing appropriate controls. To also ensure that this is reviewed quarterly. Amplified focus should be placed on the four quadrants of the Balance Score Card , i.e. Financial Perspective , Internal Business Processing , Learning and Growth and Customer Service.
Responsible for the implementation and adoption within Investor Services Operations of all Compliance, Anti-Money Laundering and Sanctions related requirements contained in policies, procedures and processes. This includes monitoring and identifying any material compliance related breaches and escalating them to the Compliance Office.
Encourage and display teamwork. Live by the Banks Values.
Key Responsibilities/Accountabilities
Customer Perspective
Query tracking and resolution – Design & implement an optimal query tool to ensure improved customer satisfaction
Ensure Customer Communications are sent promptly & correctly
Meet all Top Tier Custody Clients and respective Fund Managers at least once every quarter regarding service issues.
Ensure the provision of high quality and cost effective service to both internal and external clients, by accurately analyzing the clients’ needs and market demands, in order to define business requirements.
Ensure that we meet clients’ requirements, as stipulated in their ‘Service Level agreements’, by maintaining flexibility where necessary, but also taking risks into consideration, at all times.
Ensure that a competitive edge within the market is maintained, through building and retaining client partnerships, as well as looking for better ways of improving of our service levels at all times.
Continuously improve service offerings through innovation, and a future orientation towards automation.
Demonstrate determination to achieve the ‘right’ business results, first time.
Get the basics right.
Provide market- related and other beneficial info to staff, in order to improve client knowledge.
Ensure participation in call reports and certain client related meetings, and that information is adequately communicated to Rm.’s / staff, through discussions, to ensure that adequate preparation is made for these meetings and that accurate feedback is provided, bearing the deadlines in mind.
Ensure continuous ‘action-plans, and feedback sessions. Constantly review client’s needs and requirements.
Constantly identify STP requirements, refer to Support team in S.A. and educate clients, where necessary.
Constantly drive the importance of delivering excellent service, to staff.
Offer guidance as to how staff can improve service – Include in regular training sessions.
Ensure that outstanding queries are actioned immediately, and not left unattended without referral to management. (The 24hr turnaround time for queries should be the exception rather than the rule)
Ensure adequate control of ‘query folders’ – (Supervisor and back-up must have access to folders at all times).
Ensure client checklist / s and Signatory Lists are updated as and when changes occur, and sign – off to be obtained monthly.
“Quality checks” are to be effected on all written communication, i.e. grammar, spelling, and especially accuracy of replies.
Set clearly defined standards based on KRA’s, in conjunction with line manager and continuously monitor, control, and update procedure manuals, Job Descriptions, process flows and Risk Framework.
Learning and Innovation Perspective – Staff Development
Provide guidance in conjunction with line manager, and be responsible for the development and career planning of all staff, by formulating suitable training modules (internal and external), and workshops in conjunction with the Training Centre, thereby ensuring that staff are adequately trained/skilled and motivated.
Identify skills gap for each individual in their current jobs and design specific training
programs to address the gaps.
Min of 25% of Custody Certification Course to be completed each Qtr , with the entire course successfully completed by Yr end.
Entrench a departmental training culture , – Conduct at least 3 in-house trainings per quarter .(at least 1 presentation from internal dependency partners)
Identify, recruit and retain Top Talent.
Agree Career Development Plan
Identify training needs & attend chosen courses
Guide, motivate, and encourage staff, by effecting regular quarterly appraisals / performance discussions for low performers, and provide documentation thereof.
Ensure that staff-training workshops are affected twice a week.
Ensure that staff is scheduled for training / cross- training, with minimum disruption to the department and quality of service.
Retain and develop staff, nurture the competency talents required to optimize performance within all areas within CUSTODIAL SERVICES.
Ensure staff is involved in, and take ownership of projects, identified for strategy in the forthcoming year.
Keep staff informed of any market, procedural and system changes, with respect to future developments within CUSTODIAL SERVICES.
Ensure that staff complies with procedures to avoid / reduce penalties/ losses, to the bank.
Ensure that staff is versatile, and able to function optimally across all areas within CUSTODIAL SERVICES.
Understand, and manage the risk associated with your area of responsibility, and the impact on CUSTODIAL SERVICES, and the bank with regards to the Risk Management framework.
Ensuring effective back-up processes.
Develop a professional culture throughout CUSTODIAL SERVICES., which radiates the values and ‘spirit’ that we want our staff to share, by ‘setting the example’.
Ensure that proper preparation is done for each staff member reporting to you on areas for growth and strengths. Provide regular feedback to staff on how they are performing.
Update the staff PDP’s regularly in conjunction with staffs training needs.
Ensure new staff attend Plumbline training – I.e. a minimum of 3 modules per quarter. All modules to be completed within the year. Ensure that team is driven to complete the training by constant driving and follow ups with a roster drawn up per team of where each one is with the modules.
Proactively assisting supervisor with day to day tasks/attendance of meetings/forums and interacting in these meetings/forums.
Promote a culture of professionalism and enthusiasm, which revolve around the Banks Values.
Financial Perspective – Risk Control / Costs
Support growth of AUC
Eradicate operational losses/claims
Ensure all revenue is collected timely and leakage eradicated
Strive for automated solutions to alleviate risks arising from manual intervention.
Strive for quick win solutions to eliminate manual work e.g. macro’s etc.
Consistently strive to improve profits by understanding and managing variable costs, e.g. controlling and reducing costs.
Ensure that costs to the Bank are kept in line with the budget, by constantly monitoring and controlling all expenses.
Ensure that all revenue due to the Bank is correctly levied and collected timeously.
Identify areas of risk, and ensure that proper controls are in place to eliminate/minimize penalties – claims – losses. Ensure procedures are updated at regular intervals, staff to sign for procedures .Refer to management.
Monitor compliance, with implemented controls and procedures.
Workshop procedures and discuss errors with staff, and identify problems i.e. lack of controls, update procedures and put corrective action in place.
Constantly review and update procedures in order to reduce / identify risk areas, in conjunction with line managers. Introduce ‘risk monitoring’ framework.
Workshop issues with staff on a continuous basis.
Monitor and control costs such as stationery, printing, telephone, overtime and taxi-slips so as to reduce overall costs.
Recover money due to the bank, e.g. bill staff that abuse telephones.
Internal Business Processes
Timely delivery of monthly CIB, S.A Regulatory Reports & Reconciliations Review within stipulated time.
Ensure access controls on systems as well as to the central drive are monitored.
Provide a detailed ‘Monthly’ feedback dashboard, including volumes, trends, errors, losses, problems to the section manager, by the 5th business day of every month.
Managing the take on and Disinvestments of clients joining or leaving respectively – All pertinent documentation needs to verified and agreed upon in consultation with the RM prior to passing on to the relevant Supervisors within Custody Operations for further processing
Act as an Operational Risk and Integrity Champion within the area
Satisfactory Audit and Routine Control ratings for the Department
Keep abreast of all developments within various sections in Custody Services and communicate it to staff in regular departmental meetings.
Ensure that the Supervisors responsible as a custodian for the vault manage and maintains the premises effectively. To conduct a quarterly review of the premises and holdings to ensure that the vault is being managed appropriately with all risk areas covered and controlled.
Cash Accounts Opening
Local Clients
Receive instructions from client for the Account opening / closing process – Ensure that the RO fills in necessary forms, checked by RM and approved by the Operations Head prior to forwarding to BFC (Branch Fulfillment Centre) for the cash account opening.
Foreign Clients
Jhb offices in SA receive instructions from client. – Ensure that the RO fills in necessary forms, checked by RM and approve as the Operations Head prior to forwarding to account opening team
Procedures:-
Regular review of Operations Procedures that clearly embeds accountability.
Custody Operations Process Flows
Ensure individual’s understanding & sign off to enable adherence in transaction processing & error reduction
Systems / Automation:-
Constantly look at means of automation by:
Implementing adoption of Hiport System as a primary custody platform as a 1st step towards automation of the current manual environment.
Pursue Interface between Custody systems and Model Bank
Liaise with Custody SA and push for full automation of current manual processes.
Facilitate review of SLA’s between Custody and its Internal Dependencies
Compliance Issues:-
Ensure delivery of Regulatory Reports – RBA, CMA
Satisfactory Audit and Routine Control ratings for the Department
All clients documentation are KYC compliant and Clients Custody Agreements executed as per mandate
Timely delivery of monthly CIB, S.A Reports & Reconciliations Review within stipulated time
Conduct regular Risk & Control Self Assessment reviews (RCSA) & Monitor expected deliverables
Provide necessary input in terms of Custodial Services knowledge, process flows, as well as knowledge of the market etc.
Be familiar with the business processes.
Be adaptable to change – Review processes / procedures critically, and offer ideas / solutions, in order to improve quality of work, and workflows.
Ensure updated / documented procedures are in place.
Ensure that staff signs for such documented procedures.
Be willing to accept additional responsibilities, in order to grow and develop.
Obtain an understanding of ‘global best practice’ for optimization of human capital, by focusing on value-added services. I.e. Optimal use of MIS.
Keep abreast of all developments within various sections in CUSTODIAL SERVICES, and communicate to staff in regular workshops / departmental meetings.
Be equipped with the necessary knowledge to deal with conflict management, problem solving, guidance and motivation of staff.
Drive a culture of professionalism amongst team members.
Build on own self-development by obtaining ‘tertiary’ education.
Ensure guidance is provided to staff and development needs are highlighted on a regular basis.
Seek necessary guidance from management by not being afraid to ask questions.
Improve and increase optimization of productivity levels of staff.
Other
Ensure that Supervisors report absenteeism to section manager and have managed resources appropriately for the day to day processing to take place without any interruptions and client complaints.
Provide necessary input as well as allow guidance to Supervisors to in terms of Settlements knowledge, process flows, as well as knowledge of the market etc.
Monitor and ensure that staff completes their work within the official working hours and a valid reason is provided for working late.
Ensure that substantial increase / decrease of volumes is reported by the Supervisor of the area to the section manager.
Monitor workload, and identify together with Supervisors if there is a requirement to re-allocate resources if need be.
Ensure that leave is pre-planned and that the Supervisors are pro active in managing this process.
Ensure that Supervisors have an adequate ‘back-up’ control plan i.e. Training of ‘back-up’staff.
Ensure that the system dashboard is updated regularly on the central drive with any system related constraints to allow for further investigation to be conducted as well as continuous follow ups until resolution.
Ensure that the client issue log as well as the user issues and errors are updated on the central drive to allow for trends to be ascertained and educate individuals where necessary.
Ensure that the Supervisors manage the maintenance of updating the error log on the central drive to allow for staff to have access to monitor the teams progress on a weekly basis to achieve error free target every qtr.
Control of workflow of adhoc duties to be completed, daily, monthly and qrtly. Ensure that the checklist is adhered to by the Supervisors to manage the tasks to be attended to.
Be part of the team, participate in all aspects, and encourage staff to do the same.
Drive a culture of professionalism amongst team members.
Improve and increase optimization of productivity levels of staff
Ensure that all deadlines are met.
Provide necessary input in terms of Custody Services knowledge, process flows, as well as knowledge of the market etc.
Ensure that an effective diary system is utilized, and encourage staff to do the same.
Be familiar with the business processes.
Develop In-country Operations Procedures/Flows that clearly embeds accountability.
Ensure individual’s understanding & sign off to enable adherence in transaction processing & error reduction
Be adaptable to change – Review processes / procedures critically, and offer ideas / solutions, in order to improve quality of work, and workflows.
Ensure involvement in projects identified for strategy in the forthcoming year.
Conduct spot checks on:
The various processes to ensure that Supervisors as well as staff are adhering to the rules and procedures.
Ensure that the VAT payments deadline is met monthly to send to Finance by the 15 th of each month for payment to the Kenya Revenue Authority.
Ensure that the Supervisors check the creation of MM/Equities Securities which are done on Hiport and Clearing manager.
Ensure that the Supervisors check the client account opening of CDS (Central Depsository System) and CDSC (Central Depository and Settlement Corporation) accounts for MM and Equities respectively.
Quality checks” are to be effected on all written communication, i.e. grammar, spelling, and especially accuracy of replies.
Ensure that all filing is done in a methodical manner, on a daily basis, and that staff follow the correct retrieval procedures.
Ensure that ‘Taxi-Books’ are adequately controlled.
Control / Recover – Telephone /Stationery costs.
Preferred Qualification and Experience
Degree holder from a recognized University (min – 2nd class upper or equivalent)
Business related Degree or ACIB qualification
Custody Certification
1 Year banking experience in operations
Custody background will be an added advantage
Knowledge/Technical Skills/Expertise
Knowledge in the Financial Markets
Knowledge of Banking products and services (including Operational products, Treasury, Custodial, Investment banking etc)
Basic knowledge of Accounting/Finance
Computer Literacy
MS Office
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