Job Purpose Statement
To carry out operations, reporting and reconciliations for the Wealth Management business and ensure all fund transactions are accurately captured on APX, investments are correctly priced and reconciled as per the investment policies. Act as a liaison with Finance on all financials, reconciliations and tax matters.
Key Accountabilities (Duties and Responsibilities)
Financial 20%
Follow up with fund managers and dealers for correction of any breaches in placement and asset class limits.
Preparation of CIS trial balances and liaising with finance on CIS Financials.
Ensure timely payment of all service providers i.e. Trustees, custodians, regulator, auditors and AGM service providers.
Ensure tax is remitted and all funds are compliant with the tax guidelines.
Reporting on funds managed by wealth management on behalf of NCBA Group and its subsidiaries.
Ensure all agents fees are calculated and paid as per the agreed timelines.
Internal business processes 50%
Input of securities static data On Advent portfolio Exchange.
Ensure the Trustee, CMA and RBA reports are completed and sent as per regulation to avoid any penalty.
Follow up with fund managers and dealers for correction of any breaches in placement and asset class limits.
Ensure all Collection and Fund account reconciliations are done in a timely manner and escalate any variances that may require provisions.
Ensure all wealth management portfolios are maintained in APX as per client instructions.
Working in close liaison with client service team, investment dealers and investment managers to ensure accurate and timely processing of client investment and liquidation transactions as well as dealing activities.
Accurate maintenance of NCBA Group counterparties and dealers limits for wealth management to ensure no investment is booked for a counterparty without limits and funds remitted to the counterparty.
Ensure all transactions are done as per set procedures to limit breaches of internal controls.
Daily Reconciliation of all APX cash ledgers and balances against custody statements.
Daily reconciliation of CIS Fund units against client holdings and fund values.
Weekly reconciliation of CIS Fund Holdings against custody.
Monthly reconciliation of Wealth management client Holdings against custody.
Monthly reconciliation of pension fund holdings against custody.
Customer 20%
Co-ordinate the annual external audit for the CIS and pension funds.
Coordinate tax requests and confirmations for clients that have wealth management portfolios to ensure timely responses.
Co-ordinate all external audit requests for clients that have wealth management portfolios.
Handle all correspondence with banks and other service providers in regards to SSI’s and signatories.
Ensure all processes under wealth management are being done as per SLA.
Learning and growth 15%
Continuous learning of industry rules, regulations and changes in line with the role carried out.
Training of internal staff on the use of the APX system as well as wealth management processes to ensure development and growth of Financial Markets Operations team
A good understanding of CMA and RBA regulations
NCBA Bank Core Value Behaviours (Performance Drivers)
DRIVEN: – We are passionate, make bold decisions and learn from our failures. We seek new challenges and appreciate different views constantly raising the bar. We explore our full potential.
OPEN: – Our interactions are candid, honest and transparent. We listen to each other and our clients. We are inclusive and always respect each other.
RESPONSIVE: – We are proactive, act quickly and resolutely to deliver results. We put our customer’s interests at the heart of all that we do. We keep it simple and seek new ways to improve.
TRUSTED: – as a trusted partner, we do what is morally right always. We keep our word. We are accountable and believe in each other.
Ideal Job Specifications
Academic: University degree.
Professional: CISI and/or other relevant professional qualifications in fund management operations will be an added advantage.
Desired work experience:
Three years’ experience in investment banking operations with specific experience in fund management operations.
Practical experience in use of relevant MS Office applications.
Practical experience in use of portfolio management systems.
Knowledge and effective application of all relevant banking policies, processes, procedures and guidelines to consistently achieve required compliance standards or benchmarks.
Knowledge of relevant wealth products and services.
Technical Competencies
Technical skills to effectively perform and/or guide performance of Wealth management & unit trust activities/tasks in a manner that consistently produce high quality of service.
Working knowledge of CMA and RBA guidelines and rules in line with the investment of funds.
Working knowledge of Custodial operations
Knowledge of relevant securities products and services.
Daily pricing of all CIS products and the securities that make up the CIS portfolios. Escalation of any adverse changes in prices to the Investment managers in a timely manner.
Prepare the monthly wealth management report for retail and corporate relationship managers’ performance against their budgeted numbers.
Creating, amending, deleting and monitoring on a daily basis, dealers and counterparties limits within NCBA Wealth Management.
Behavioural Competencies
Self-empowerment to enable development of open communication, teamwork and trust that
are needed to support performance and customer-service oriented culture
Interpersonal skills to effectively communicate with and manage customer expectations
(internal and external), and other stakeholders who impact performance
Monitor the IBPS wealth management SLA and ensure all transactions are being handled as per SLA.
Prepare the monthly GL reconciliation reports shared by Finance and ensure all variances have been raised and escalated to the Finance recon team.
Apply via :
ke.ncbagroup.com
