Custody Analyst at Absa Bank Limited

Job Summary

To advise customers and process banking transactions accurately and timeously through the execution of predefined objectives as per agreed standard operating procedures (SOPs).

Job Purpose

To provide exemplary and effective service through timely processing of all instructions to custodial clients while ensuring compliance with all regulatory standards.

Key Accountabilities

Operations & Internal Business Processes – 55%

• Receiving of instructions from clients and fund managers by email/Fax/Swift
• Instruction execution including call backs and signature verifications
• Processing of all Money Market investments instructions as per SLA’s while prioritizing those earmarked to fund other settlements and primaries
• Processing of all withdrawals/ benefit payments while ensuring end to end processing of customer instructions
• Processing of all fixed income investments in the primary and secondary market as per SLAs
• Reconciliation of income received vs. expected and resolving any differences arising
• Filing of CBK monthly returns
• Processing all equities investment instructions as per SLAs
• Maintaining an up-to-date equities and fixed income corporate actions diary from the NSE price list and process all corporate actions end to end
• Execution of proxy voting instructions in a timely manner

Revenue – 10%

• Ensuring that proper records of custodial income are maintained and updated
• Recovery of revenues in a timely manner for the services rendered and follow up done on any outstanding fees
• Provide relevant support to internal and external audit queries

Compliance Reporting and Customer Service - 10%:

• Ensuring accurate and timely preparation and dispatch of regulatory returns to CMA, RBA, CDSC and CBK
• Ensuring operational compliance with relevant regulations, implemented controls and procedures.
• Minimizing operational losses/claims by ensuring compliance with procedures to avoid / reduce penalties/ losses or claims to the bank
• Processing of transactions as per the approved procedures to mitigate operational risks

Reconciliation – 10%

• Daily reconciliation of the custodial nominee accounts against CASA accounts to ensure accuracy and resolve any discrepancies
• Asset reconciliations with depositories, clients, and fund managers
• Executing asset transfers to and from other custodians
• Cash and income reconciliation for coupons and dividends

Governance & Controls -15%

• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and Policies and Policy Standards.
• Understand and manage risks and risk events (incidents) the role.

Education and Experience Required:

Education:

• A Business-related degree professional qualification
• Basic I.T & Accounting Qualification

Professional Qualification (Added Advantage)

• CMA Securities Industry Certification (CISI).
• CPA OR CFA

Desired Work Experience:

• Minimum of at least 3-years’ experience in Custodial Services/Securities Services operations
• Technical Competencies:
• Financial analysis Skills: Ability to analyse and/or interpret financial statements, and advice accordingly.
• Analytical business and investment appraisal Skills: Keen to details and able to interpret fund managers investment instructions and apply them appropriately.
• Technology Skills: Computer literate with proficiency in computerized applicable systems.
• Industry knowledge: Candid knowledge of the financial sector and investment opportunities.

Behavioral Competencies

• Goal driven and resulted oriented: Enjoys being measured and judged by financial and other performance targets.
• Personal Ethics: Must be honest, fair, and just with self and others, and demonstrates integrity in work and business.
• Communication Skills: Excellent writing, verbal, and presentation skills.
• Interpersonal Skills: ability to interact with key stakeholders in the within the bank and in the industry
• Proactive Initiator: Must be pro-active, a self-starter and can see, grasp and advice on opportunities.