The Custodial Service Officer at Bank of Africa Kenya Limited is responsible for providing efficient custodial services to clients, ensuring accurate settlement of trades, managing corporate actions, and maintaining high standards of account reconciliation and reporting. The role involves managing equity and money market settlements while ensuring compliance with internal policies and external regulations.
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 requirements, communication, and queries are responded to in a timely manner.
Money Market Settlement
- Confirming successful bids with the Central Bank of Kenya (CBK) 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 proactive 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.
Corporate Actions Processing
- Ensuring that information relating to all Corporate Action announcements is captured accurately, completely, and timely in Innova and sent to clients.
- Ensuring that all corporate action events, particularly those related to voluntary 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 proactively follow-up with companies to ensure receipt on or before the due date.
- Ensuring all cash and securities proceeds are reconciled and processed in a timely manner, with cash proceeds credited to client’s account upon cheque clearance or receipt of RTGS.
Payments and General Banking Activities
- Processing of payment instructions 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.
- Carrying out monthly reconciliations of CBK and CDSC holdings.
- Receiving client instructions, carrying out callbacks where required, and distributing the same to respective departments.
- Managing the account opening process for Innova, CDSC, and CSD DHOW.
- Filing and archiving documents as per laid down guidelines.
- Reconfirming custody fees billing at the end of every month and sending invoices to clients.
- Passing all accounting entries for all fees received.
- Executing key end-of-day processes including client account reconciliation and sharing of statements.
Minimum Requirements
- 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 duties with minimal supervision to meet set targets.
- Good coordination skills to handle various assigned tasks.
- Flexibility and willingness to go beyond the call of duty.
- Ability to work with speed to meet cut-offs with no errors.
- Strong critical thinking skills for problem analysis and decision making.
- Strict adherence to non-disclosure of confidential information.
- Ability to provide accurate and reliable statements to clients and fund managers.
How to Apply
Interested and qualified candidates should apply online through the Bank of Africa Kenya Limited portal. You can access the application page via the following link: Apply Now.
