JOB PURPOSE
The job holder will be responsible for growing/optimizing business levels transacted with Correspondent Banks as well as Financial institutions and advising the Bank on any events occurring within correspondent networks which might impact the Bank’s business and service delivery. Manage relationships with financial institutions, which is a key aspect for the bank in meeting its local and international business needs and enhance the bank’s presence locally and internationally.
The Correspondent and Financial Institutional (FI) manager will also develop and execute a business plan targeting financial institutions both locally and internationally in specified products range and support the overall bank strategy. The FI manager will be required to seek referrals, develop and maintain relationships with bank’s chosen counterparties, in line with regulatory requirements and bank policies.
KEY RESPONSIBILITIES AND ACTIVITIES
Relationship Management
Market Research on Pricing of Products & Services with other Correspondent Banks
Risk & Compliance
Relationship Management:
Establish, Manage and promote cordial relationships with Foreign Correspondent Banks, Local Commercial banks, Non-bank Financial Institutions and Development Financial Institutions to facilitate seamless trade finance transactions and support growth of the bank’s business in the International circles.
Actively support product development and sales initiatives by Relationship Managers and Branch Managers to sustain the banks market share in treasury and Trade finance business.
Manage the relationship with all existing correspondents and new partners we onboard. Work with Front Office and commercial teams to effectively onboard, manage and develop relationships.
Manage internal relationships and build cohesion and transparency across departments by working closely with Legal, Business Development/Commercial, Operations and Compliance teams as well as Credit team
Show a proactive approach in improving existing banking relationships with all banks/correspondents in the Bank’s portfolio.
Market Research on Pricing of Products & Services with other Correspondent Banks
Periodically review the pricing of services & products offered by Correspondent Banks by negotiating for favorable pricing and seek further avenues of revenue creation from correspondent banks.
Review credit appraisal cases for banks and make recommendations to the credit and risk teams for allocation of trade and treasury trading lines.
Negotiating adequate lines of credit with Financial Institutions and correspondent banks to facilitate Treasury, Investments, Trade Finance and funding needs of the bank.
Cross-Sell products to maximize business from each connection.
Assist in the marketing bank products to correspondent banks and local financial institutions.
Resolution of business issues and disputes with correspondent banks.
Attend annually correspondent bank meetings with the visiting representatives.
Come up with the unit’s operational manual and ensure annual review of the same.
Ensure agreements relating to FI business with banks are followed in liaison with the legal department and compliance team.
Prepare, complete and manage all documents for new accounts openings for all financial entities and partner correspondents, including managing online portal access for users.
Build and maintain a robust and scalable database of KYC documents.
Perform annual banking reviews for all the bank’s financial partners, counterparties and correspondent including KYC and company due diligence, ensuring mandates are UpToDate
Other major duties shall include, but shall not be restricted to sourcing funding, acting as the first-line of defense from a compliance and credit perspective, cross sell group products and optimize cash payment flows.
Risk & Compliance
Ensure that all customers onboarded to the bank meet the minimum criteria and are screened adequately considering the Banks AML/CFT/CPF guidelines and escalation of any suspicious accounts.
Continuously monitor customer transactions in the context of the profile of the customer and properly document the background and purpose of all complex, unusual, large transactions, and all unusual patterns of transactions, which have no apparent economic or visible lawful purpose.
Prior to Customer on boarding, ensure that a potential client has been screened, account opening form is duly completed and all required documentation as per the account opening policy obtained.
Ensure that verification is done as to the identity of the customer, documentation used to open account, and conducted transactions during the customer journey.
Ensure that all transaction forms are filled to completion and properly reviewed. Where information provided is not reasonable, a suspicious transaction report should be raised immediately as per process indicating the basis of suspicion.
Responsible for immediately alerting the MLRO on suspicious transactions or activities noted in customers’ accounts. Any inconsistent activities or transactions, any suspicious accounts, any attempted accounts or transactions, must be investigated and reported to the compliance function immediately, placing a clear basis of suspicion.
Identify any high risk accounts such as Politically Exposed Persons (PEP) at point of account opening and at execution of transaction continuously, given the dynamic nature of such high risk accounts. Forward the details of such high-risk customer(s) and any PEP/PEP Related persons noted to senior management for approval. Ensure that such accounts have all the requisite documents such as updated annual EDDs, are marked as high risk in the system and the reason for high risk rating properly indicated.
Ensure accurate and complete data has been captured in the system and that customers are properly risk rated or categorized as per bank policy on customer categorization as high, medium or low, and ensure that timely KYC update is done for the various risk categories of clients as per regulatory requirements.
Ensure that the transactions contain the full details and the relevant supporting documentation and authorizations are in place where required. Where information provided is not reasonable, a suspicious transaction report should be raised immediately as per process indicating the basis of suspicion.
ACADEMIC BACKGROUND
University graduate in Banking/ Finance/ Accounting or any related field
WORK EXPERIENCE
Five (5) years of experience in the financial sector with preferably two years experience in correspondent and financial institution management.
SKILLS & COMPETENCIES
Strong knowledge of the banking industry, specifically trade finance, cash management, and treasury products.
Strategic global thinker with ability to successfully communicate and implement processes.
Proficiency to negotiate, influence and gain trust of others.
Experience working in global business environment;
Keep up-to-date with financial and industry developments;
Strong knowledge of Central Bank’s guidelines and other relevant local legislations
Business and credit analysis skills.
Solid international network and contacts within the Financial Institutions sphere.
Excellent communication skills within a multicultural environment.
The ability to adapt to required strategies and support the delivery of the business objectives.
Use of initiative and confident decision making.
Time management – priority setting.
Ability to build and leverage relationships while achieving the goals and objectives of the organization and department.
Experience in business development and sourcing of new business
Ability to negotiate pricing on behalf of the bank in line with overall bank pricing strategy
Strong marketing and sales skills
Strong analytical and judgmental skills
Strong knowledge of offshore banking
Ability to quickly pick up the risk of Money Laundering.
Ability to make decisions and be solution driven.
Strong understanding of various financial markets.
Good communication and listening skills.
Ability to drive business and deliver strong results.
Excellent oral and written communication skills
Very good command of Microsoft tools.
PROFESSIONAL CERTIFICATION
ACI Certification course
Apply via :
sidianbank.co.ke
