Custodial Service Officer

Responsibilities and Accountabilities.

Equity Settlement

• Process client instructions promptly on receipt.
• Pre-matching of trade transactions ensuring that daily reconciliation is completed before market deadlines and that negative affirmations are sent to the exchange/brokers within stipulated deadlines.
• Escalate any transactions that may cause trade failures to the line manager for resolution
• Ensure that all Client requirement/communication/ queries are responded to in a timely manner

Money Market Settlement 

• Confirming successful bids with the Central Bank of Kenya and advising Clients
• Timely transfer of funds to the client’s cash account to avoid failed equity or bond trade settlements and promptly escalating any pre-funding issues to the respective supervisor.
• Ensuring prompt processing of clients’ term/ call deposit instructions and dispatching deposit certificates to clients on receipt.
• Ensuring pro-active management of client trades to reduce the chances of failure of client instructions.
• Ensuring correctness of entries with respect to funding, proceeds and tax liabilities thereof to the Client(s) cash accounts.

Cooperate Actions Processing 

• Ensuring that information relating to all Corporate Action announcement is captured accurately complete and timely in Innova and sent to clients.
• Ensuring that all corporate action events particularly those related to voluntary / with options, are processed in a timely, complete and accurate manner and released to clients / depository respectively within agreed SLA and before market deadlines.
• Monitor 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.
• Ensuring all cash and securities proceed are reconciled and processed in timely manner and cash proceeds are credited to client’s account upon cheques clearance or receipt of RTGS.

Payments and General Banking Activities

• Processing of payment instruction as per the internal SLA (cheques/ RTGS/ Book transfers)
• Banking of client cheques for clearing and uplifting to clients’ accounts on maturity.

Reconciliation of accounts /Control and Admin Process/ Billing

• Reviewing all reconcilable accounts on a daily basis and complete reconciliations ensuring timely resolution of outstanding items within the agreed age limit.
• Carrying out monthly reconciliations of CBK and CDSC holdings.
• Receive client instructions and carry out call back where required and distribute the same to the respective departments.
• Account opening process; Innova/Central Depositories (CDSC and CSD DHOW).
• File and archive documents as per laid down guidelines.
• Reconfirm custody fees billing for each client at the end of every month and sending invoices to the respective clients
• Pass all accounting entries for all fees received.
• Key end of day processes; Client account reconciliation and sharing of statements.

Minimum Requirements; Work Experience, Academic & Professional Qualifications. 

• Minimum 4-year banking experience with a good understanding of Bank policies, procedures, and external regulations.
• Business related Bachelor’s degree from a recognized accredited University
• Certificate in Chartered Institute for securities and Investment-CISI.

Competencies & Attributes.

• Ability to perform set duties with minimal supervision to meet the set targets and overall objective of The Bank.
• Good coordination skills to handle the various tasks assigned.
• Flexibility and willingness to go beyond the call of duty to achieve the department`s deliverables.
• Ability to work with speed to meet cut offs with no errors.
• Ability to deconstruct information/critical thinking, to draw conclusions for problem analysis, resolution and decisions making
• Non-disclosure of any confidential information
• Ability to provide accurate and reliable statements to the clients and fund managers.