Operations Assistant, Wealth Management at NCBA Group

Job Purpose Statement

To carry out the processing for NCBA Investment Bank wealth management and unit trust transactions. This shall include confirmation of settlements, avoiding any processing errors and adhering to stipulated turnaround time as stipulated under the SLA’s with the various counterparties. The role holder shall also carry out reconciliations on the portfolios, pricing of securities and reporting as requested by the supervisor

Key Accountabilities (Duties and Responsibilities)

Financial 25% 

• Prevention of exposures to and impact of operational risks associated NCBA Investment Bank functions.
• Consistency in adherence to and of application of established policies, processes, procedures and tools to achieve optimal efficiency, compliance and containment
• Timeliness & accuracy customers Settlement processing
• Monitoring of limits to ensure the investment bank is not exposed to un-approved counter parties that may lead to loss of funds.
• Timely collection and settlement of Fees and Tax

Internal business processes 50%  

• Timeliness, accuracy and quality of client transaction processing under financial market operations.
• Prepare Daily exposure report
• Daily monitoring of the pending transactions’ reports and ensure all pending transactions are passed timeously.
• Processing daily client transactions and strict compliance to the cut-off times on settlement of deals. This include new investments, liquidations, corporate actions, coupon receipts and interest distribution.
• Ensure reconciliation is done between T24 and related systems for unit trust & wealth management
• Creation of and pricing of securities on the system. Ensuring all equities and bonds are priced at market value for proper valuation of the funds. Pricing of off-shore and real estate holdings for pensions.
• Monthly Interest payments to clients who wish to claim the interest earned on a monthly basis.
• Processing back office fund manager instructions while ensuring strict compliance to the cut-off times on settlement of brokerage deals, placements, liquidations and standard custody instructions.
• Opening of new collection accounts and custody accounts. Ensuring all signatories are as per board approvals and monitoring for any changes approved by the board.
• Processing and ensuring complete documentation of all fund investments.
• Timeliness & accuracy and quality of trading & client/fund manager transaction processing.
• Daily pricing of the Unit trust funds. This includes the dollar, equity and money market fund. Basket notes shall be priced weekly.
• Track/log cases with custodians in relation to income variances and delays in executing instructions.
• Prepare administration reports for trustee meetings
• Prepare invoices and process fees for all related parties
• Ensure adherence to CIS limits and escalation of any breaches to the fund manager in a timely manner. Report on CIS compliance in the trustee meetings.
• Share the daily exposure to counter party limits to the fund manager, senior investment bank management and risk.
• Attend custody & trustee meetings and prepare operational reports.
• Support external audit with confirmations and security holdings.
• Reconcile and action any outstanding items related to wealth management on the financial controls accounts recon portal.

Customer 15% 

• Consistency in adherence to and apply established policies, processes, procedures and tools to achieve efficiency, compliance and customer satisfaction.
• Ensure all instructions are executed and client statements are accurate.
• Booking of equity and fixed income transactions into the APX system
• Processing all sell instructions uploaded via DMS within the stipulated period of up to 48 hours.

Learning and growth 15% 

• 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
• A good understanding of financial market products
• Target to attain relevant investment bank qualifications e.g. ICIFA OR CFA.

Ideal Job Specifications

• University degree – 2nd class honors upper division
• Practical experience in use of APX, BBO, ATS and CDS
• Three years’ experience in investment banking or banking operations
• A good understanding of Investment Banking products
• Practical experience in use of relevant MS Office applications

Technical Competencies

• Knowledge and application of all relevant wealth management policies, processes, procedures and guidelines to consistently achieve required compliance standards or
• benchmarks.
• Technical skills to effectively perform operational activities in a manner that produce high quality of timely service.
• Knowledge of relevant securities products and services.
• Knowledge of financial markets in the financial industry to enable factual
• Performance Management to enhance employee productivity and engagement.
• Experience working in deposits, brokerage and wealth management hence usage of the systems.
• Knowledge and experience in modern practices for processing treasury transactions and settlement guidance on quality improvements and tactical changes.
• Ability to execute on time and with quality

Behavioural Competencies

• Initiative skills to effectively take action to address needs without being requested to do so.
• Interpersonal skills to effectively allow Cooperation as well as Acknowledging diverse opinions, addressing relevant concerns, minimizing conflict, promoting harmony.
• Stress Management to work well under pressure, while maintaining effectiveness and selfcontrol in the midst of any one or combination of stressors, including emotional strain, ambiguity, risk to self and fatigue.