Job Purpose

To ensure the efficient and high-quality delivery of custodial services to clients by overseeing the settlement of securities transactions, safekeeping of assets, and related operational processes. The role is critical in maintaining operational excellence, regulatory compliance, and superior client satisfaction in all custodial service functions.

Key Responsibilities

Financial - 30%

• Ensure 100% revenue collection for all custodial products to support the bank’s revenue targets.
• Process and settle all custodial services contracts accurately to avoid financial losses from operational lapses.
• Mitigate financial losses by identifying and eliminating fraudulent transactions.
• Ensure timely and accurate settlement of equity and fixed income transactions.
• Monitor and resolve settlement failures or discrepancies.

Operational Excellence - 40%

Settlements

• Manage timely and accurate settlement of equity and fixed income transactions.
• Ensure compliance with internal operating procedures and regulatory requirements.
• Monitor Central Depository transactions to ensure trades are posted and authorized promptly.
• Coordinate with Treasury for FX transactions and ensure timely earmarking in the system.

 Payments

• Process client payment and receipt instructions cheques, RTGS, book transfers promptly.
• Upload and verify instructions in Flex and confirm with the clearing team.
• Liaise with Finance for cheque collection and dispatch to clients.

Billing & Invoicing

• Generate and dispatch accurate invoices within defined timelines.
• Minimize outstanding receivables through timely income collection.
• Process client remittances and prepare VAT payments in collaboration with Finance Department.

 Corporate Actions

• Capture and disseminate corporate action announcements accurately and on time.
• Process voluntary and mandatory corporate actions within SLA and market deadlines.
• Reconcile and credit client accounts with entitlements and IPO/Auction allotments.
• Ensure timely dispatch of agendas, annual reports, and execution of proxy instructions.
• Follow up with clients on pending instructions and respond to queries within agreed timelines.

Message Control

• Receive and reconcile client messages via SWIFT, email, and courier.
• Distribute messages accurately and promptly to relevant custodial service units.

Systems & Reporting

• Support development and timely delivery of Management Information MI reports.
• Collaborate with the Manager, Custodial Services, to improve and implement SLAs.
• Ensure accurate completion and filing of essential reports and returns.
• Identify system training needs and support implementation of training plans.
• Monitor departmental performance, costs, and compliance with operating procedures.

Customer Service Excellence - 30%

• Log and respond to all client queries within 24 hours; provide holding responses when necessary.
• Maintain updated records of client authorizations and powers of attorney.
• Notify clients of market developments affecting their assets.
• Support client due diligence and on-site visits, ensuring positive feedback.
• File settled trade documents and investment statements per client.
• Maintain up-to-date knowledge of custodial procedures, tariffs, and regulatory requirements.

Key Relationships

Direct Reports to this Position -  None

Customers of this Position:

Internal                                                                                 

• All Bank Staff

External

• All Bank Clients
• Stock Exchange and Regulatory Bodies
• Industry Counterparts
• Senior Executives/ Owners of Pension Funds

Knowledge; Skills and Experience required for this Role

• At least 2 – 3 years operations experience in custodial services, pension fund management or administration.
• Business Degree from an accredited university in a relevant course
• Certificate level qualification in Securities Services related course CISI
• Excellent analytical skills
• Excellent communication, written and verbal skills
• Excellent interpersonal sensitivity

Competencies required for this Role:

• Quick thinking and decision making in respect of daily operational matters in support of the business.
• Ability to facilitate higher efficiency and productivity through improvements in available products, work processes, systems enhancements and operational delivery.
• Contribute to creation of new product lines and new business opportunities, both locally and overseas with product management and sales team. Where necessary, be 'subject-matter-expert' in presenting solutions to stakeholders/clients.
• A good understanding of the general economic, political and business environment of the region.
• Excellent capacity and resources management.
• Increased market awareness and competitor information.
• Achievement of budgeted volumes and revenues for the team.
• Contributing to putting in place processes for controls and managing risk keeping in sight the interests of the Bank and the client. No failed Audit and losses.
• To ensure smooth handling of Custody Payment & settlement section. Ensure funds are credited to client accounts immediately upon clearing.
• Ability to review the internal process and performance of the section to enable increased ability to handle exceptions and deliver higher client satisfaction.
• Ability to handle exceptions and close the same with close follow-up within the department, counterparty and the client.
• Promote Group Brand Values.

Accountability: 

• Signing authority according to existing framework.
• To place orders to buy/sell shares to panel brokers based on client instructions.
• All debits and credits to client’s accounts and cashier’s order account as per client’s instructions.
• All debits and credits to client’s accounts and cashier’s order account as per client’s instructions and all Dr and Cr in suspense and GL accounts are to be justified. 

Delegated Authority: 

• As delegated authority