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Saturday, February 18, 2017

I&M Bank Custody Services Operations Officer Vacancy in Kenya

I&M Bank, a regional Bank with a fast growing branch network around the country, is seeking to fill the following Officer position in Investment Management Services department.
Custody Services Operations Officer (CSOO)
Ref: CSOO/2/2017
Job Summary: The incumbent will be charged with supporting the growth and development of IMS related products and services as well as effectively and efficiently managing the customer instructions and accounts within the framework of standard operating procedures.
Purpose:
  • Processing of equity settlement in line with laid down procedures and all regulatory requirements.
  • To carry out Money Market Settlements and General Banking activities in line with laid down procedures and all regulatory requirements.
  • Process primary market Treasury Bonds and Treasury Bills tenders and settle successful bids on value date.
  • Perform the day-to-day corporate actions’ processing in respect to processing of mandatory, voluntary corporate actions events and Proxy Voting including the timely dissemination of information to clients and disbursement of income proceeds.
  • Carry out Payment and General Banking activities in line with laid down procedures and all regulatory requirements.
  • Perform reconciliation of accounts and control activities in line with laid down procedures and all regulatory requirements.
  • Carry out billing process as per laid down procedures.
Key Accountabilities / Functions
Equity Settlement
  • To process client instructions promptly on receipt
  • Pre-matching of Trade transactions with Brokers & Exchange / ensure daily reconciliation before market deadlines/ ensure that negative affirmation are sent to exchange/broker within the stipulated deadlines.  Escalate any transactions that may cause trade failure.
  • To ensure that all Client requirement/communication/ queries are responded within 2 hours of receipt. Holding response to be sent in case the final response requires further investigation.
  • Immobilisation of Securities
Money Market Settlements
  • To process client instructions promptly on receipt.
  • Confirm successful bids with the Central Bank of Kenya and advice Clients
  • To monitor funds are received and credited to client’s cash account on timely manner to avoid any failed trade related to equity or bond settlement.  Escalate promptly.
  • Ensure prompt processing of clients term/ call deposit instructions and dispatch of deposit certificates to clients on receipt.
  • Ensure pro-active management of client trades to reduce the chances of failure of client instructions.
  • Ensure correctness of entries with respect to funding, proceeds and tax liabilities thereof to the Client(s) cash accounts.
  • To ensure that all Client requirement/communication/ queries are responded within 2 hours of receipt. Holding response to be sent in case the final response requires further investigation.
Corporate Actions Processing
  • To ensure that information relating to Corporate Action announcement is captured accurately complete and timely in Innova and sent to clients.
  • To ensure that for all corporate actions events and especially those related to voluntary / with options are processed in a timely, complete and accurately manner and released to clients / depository respectively within agreed SLA and before market deadlines.
  • To ensure monitoring for receipt of Corporate Action entitlements and where required pro-actively follow-up with the companies to ensure receipt of client entitlements on or before due date.
  • To ensure all cash and securities proceed are reconciled and processed on timely manner and cash proceeds are credited to client’s account upon cheques clearance or receipt of RTGS.
Payment and General Banking activities
  • Processing of payment instruction on timely manner (cheques/ RTGS/ Book transfers)
  • Banking of client cheques for clearing and uplifting to clients’ accounts on clearing.
  • To ensure that all Client requirement/communication/ queries are responded within 2 hours of receipt. Holding response to be sent in case the final response requires further investigation
Reconciliation of Accounts/ Control & Admin Process/ Billing
  • To review all reconcilable accounts on a daily basis and complete reconciliations of the same by 12 noon.
  • Ensure timely resolution of outstanding items within the agreed age limit.
  • To carry out monthly reconciliations of CBK holdings.
  • To receive client instructions and carry out call back where required and distribute the same to the respective team members.
  • Account opening process; Innova/ Central Depositories (CDSC/ Central Bank of Kenya).
  • Filing of Documents and Archival.
  • Calculate billing as at end of every month and send invoices to clients
  • Pass all accounting entries for all fees received.
Qualifications and Competency Requirements
  • A bachelor’s degree in any business related field
  • At least three year Banking or relevant experience
  • Good working knowledge capital markets regulatory requirements
  • Have a good understanding of all settlement related functions
  • 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
  • Experience in reconciliations will be an added advantage
How to Apply
If you believe you meet the above requirements, send your application together with a comprehensive curriculum indicating your qualifications, present position, contact and names of three referees.
Your application should reach the below address on or before 25th February 2017.
Please quote the reference number followed by the position applied for in the application
The General Manager-Human Resources
I&M Bank Limited
I & M Tower, Kenyatta Avenue
P.O Box 30238 – 00100, Nairobi
Or email: recruit@imbank.co.ke  (preferred)
Only short listed candidates will be contacted.
Canvassing will lead to automatic disqualification.

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