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
Business Support
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.
Business support:
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 dispute 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 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 compliance with both internal and external regulatory requirements.
Tasked with ensuring annual due-diligence reviews are conducted and continuous updates thereof
Tasked with managing KYC registries of the correspondent Banks and financial institutions on behalf of the bank
Working closely with credit risk and compliance units to ensure effective controls to mitigate against business risks associated with correspondent banking.
Developing and continuously reviewing business operational policies and procedures ensuring their compliance.
Handle all aspects of Records Management within the department
Conduct Industry/ Market/Competitor analysis relevant to Correspondent Bank products
Ensure compliance with KYC/KYT/AML regulations
Ensure adherence to FATCA /OFAC /UN sanctions
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.
Apply via :
sidianbank.co.ke
