Job Summary

To participate in the profitability of the Bank through new business acquisition against agreed financial targets, provision of exemplary Relationship Management to existing Custodial clients while ensuring compliance with regulatory requirements as well as continuous research and implementation of custodial best practices, both local and global.
The role holder delivers first class service, service standards and builds relationships and rapport with custody clients. The role holder is also responsible for building trusted and valued partnerships with custody clients at the daily transactional and operational level

Job Description

Key Accountabilities

Financial – 40%

• Grow Custodial customer base, fund value, revenues in line with agreed budgets.
• Improve profitability by expanding on existing relations as well as identifying opportunities for incremental revenue.
• Drive effective sales origination, pipeline management, call reporting and conversion.
• Develop appropriate sales materials, prepare sales proposals and participate in advertised tenders.
• Drive cross sell initiatives to increase share of wallet through liability drives and product promotions. Draw-up account plans for key clients.
• Ensure that applied fees and charges levied are competitive while ensuring profitability.
• Ensure that income due from portfolio is paid promptly following end of each billing period
• Conduct market assessments and gather intelligence on pricing structures, competitiveness, new

Internal business processes – 15%

• Ensure compliance with Regulatory bodies by adhering to set regulations and also with internal operational and audit requirements.
• Continuously re-assessing the operational risks inherited in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices.
• Ensure SLAs, signing mandates and other safeguard measures are put in place with each new relationship.
• Ensure reports are sent out to regulatory bodies as well as other related parties in a timely manner.
• Ensuring that income and other entitlements due from clients are received within reasonable time.
• Keep abreast of clients’ reconciliations, holdings and overall position.
• Manage the operational contact between client and the operational areas b
• ensuring a full understanding of the client’s needs and expectations across the organization and providing clarity for the actions required to service the client.

Customer – 40%

• Manage client on-boarding by liaising with operational teams and other relevant stake holders.
• Responsible for client retention through proactive management and engagement with internal stakeholders to improve service standards.
• Ensure that all relevant documentation required for Custodial accounts is executed.
• Build client confidence through solid delivery of expected services such as quick response time in effecting instructions and handling queries, proper record-keeping, timely reporting on asset holding as well providing other value-added services.
• Ensure the interests of clients are safeguarded through measures such as execution of Service Level Agreements, periodic reconciliation with counter parties as well as whistle blowing.
• Act as an advisory to Clients and their representatives regarding regulatory changes or happenings within the industry that affect them.
• Manage client reviews and due diligence questionnaires and visits for existing clients; ensure regular formal performance reviews are conducted with clients according to strategic priorities and client needs.
• Document, coordinate and oversee resolution of problems or issues affecting the quality-of-service delivery and the overall client experience.

Growth – 5%

• Take charge of own growth and development needs through seeking on the Job training and enrolling in relevant in-house and external courses.

Stakeholders

Internal

• Head, Custody Services
• Custody Operations
• Legal
• Dealers & Treasury Back Office
• Corporate & Investment Banking Team
• Retail Banking
• Finance
• Human Resources
• Risk & Compliance
• ASL

External

• Clients
• Regulators/Other Service Providers
  • Retirement Benefits Authority (RBA)
  • Capital Markets Authority (CMA)
  • Central Bank of Kenya (CBK)
  • Central Depository & Settlements Corporation (CDSC)
  • Nairobi Securities Exchange (NSE)
  • Association of Retirement Benefits Schemes
  • Offshore Investment Managers
  • Custodians Association (Kenya)
  • Fund Managers
  • Pension Fund’s Administrators
  • Stockbrokers
  • Investment Bankers
  • Global Sub-Custodians
  • External Auditors

Academic

A bachelor’s degree in any Business-related field.

Professional: Chartered Institute of Securities and Investments qualifications (CISI), Investment Administration Qualification (IAQ), Regulation & Compliance Course, Bonds and Fixed Income Markets Course. Associates of the Chartered Institute of Bankers (ACIB) qualifications will be an added advantage.

Desired work experience:

• Minimum 5-8 years’ experience in banking particularly securities services (custody, Fund Administration), including at least 5 years in a similar role.
• Prior management experience a plus.

Competencies

• Financial analysis Skills: Ability to analyze and interpret financial statements.
• Analytical business and investment appraisal Skills: Keen to detail and able to conceptualize financial investment proposals and provide viable solutions.
• Technology Skills: Computer literate with proficiency in Banking and Custody applications.
• Industry knowledge: Candid knowledge of the Retirement benefits industry, financial sector and investment avenues.
• Tender preparation: Highly experienced in responding to RFPs through detailed tender preparation