Job Purpose:

Reporting into the SFS Operations Head, this employee will be part of the team responsible for:

• Transaction Settlement
• Open Position Monitoring
• Client Queries
• Reconciliation and monitoring of client cash and security accounts

Applicable products are: Trade Settlement, Safe keeping, Corporate actions monitoring and payments, LCY fund transfers, FX repatriation,, Fixed Income, Money Market, Cash account administration and management, regulatory reporting, accounting and reconciliation.

Job Background/context:

The reporting line is into SFS Ops Head.  The role also implies a close relationship as well as active communication with:

• SFS Product and Coverage mainly in South Africa and London to ensure proper support is delivered to existing and new business
• Other departments (e.g. Technology, HR, Audit, Tax,...) both locally and in the region to ensure that appropriate support is received

• Business Relationships:

  Internal:

• Highly frequent contact with CRMS, Risk Management, Compliance, Relationship Management, Citiservice, Legal, Treasury, Cash Management Treasury Operations, Treasury, Product Manager and Citibank correspondent branches.
• Moderately frequent contact with Utility Management and Technology Infrastructure.

  External:

• High frequent contact with STRATE, Client Stock Brokers and Counter Parties.

Key Responsibilities:

• Processing transaction settlement process’s in SFS Operations unit for Equities, Bonds and Money Market.
• Liaise with brokers, regulators and other market participants to make sure that each transaction is completely settled
• Ensure that the client is informed of all open and unmatched trades.
• Make sure that market obligations are meet to avoid market sanctions for default.
• Arrange for brokers commissions and regulatory charges to be transferred to the appropriate counter parties account as at when due.
• Reconciliation and monitoring client cash and security account
• Continuously improve on procedures and process flow for settlement
• Act as back up for all positions in the unit including Head of SFS operations.
• Liaise with various departments in the bank to service the client.
• Work with the head of SFS operations to stream line processes and to achieve common goals
• Supervision of settlement operations within  SFS Operations unit
• Manage daily settlement functions in custody operations in conjunction with ensuring quality service are delivered to the client. Ensure all control, policies, procedures and reporting requirements are adhered to.
• Co-ordinate provision of settlement information provided to customers by SFS Operations team in response to clients’ settlement related query.
• Provide input to the development of SFS product programmes. Support the business units on all SFS business development projects.
• Maintain effective personal administration and capacity.
• Work with the other units that are settlement interfacing to stream line processes and to achieve common goals
• Assist Head of SFS operations in providing feedback to business heads and the SCOO on all risks associated with SFS products/processes, including those associated with changes in the regulatory environment and ensure that such risks are appropriately documented and addressed by the implementation of effective controls.
• Participating in process improvement projects and various operations management tasks as delegated by the SCOO.
• Conduct internal and market testing where required
• Manage client queries be responding within agreed turnaround times, in a professional manner and address client education where necessary.

Development Value:

• Opportunity to broaden understanding of Custody Operations in South Africa
• Opportunity to work closely within a dynamic business in large and varied Operations environment
• Access to key product leaders thereby increasing exposure to the larger organisation
• Increased exposure to Senior management
• Consultation skills in a matrixed environment with various stakeholders
• Level of autonomy and business partnership to further develop influence, negotiation and leadership skills

Knowledge/Experience:

• Demonstrated interaction with senior management & customers
• Minimum of 5 years experience and strong business mindset to provide a platform for success.
• Minimum of 5 years Equity experience in the South African custody market.
• Fixed Income and Money Market experience in the South African custody market.

Skills:

• Computer literate and numerate.
• Fluent in English
• proven ability to meet new challenges, assimilate new information and to influence people through the maturity of their approach and effective expression and articulation of knowledge and understanding
• Experience of effectively managing risk and controls
• Experience of leadership role
• Proven ability to manage change
• Demonstrated commitment to diversity
• Experience of coaching and developing others
• Project management skills and experience in managing large implementations in a constantly changing environment with multiple partners.

Qualifications:

• Degree in Business or related discipline or equivalent work experience
• Strate Compliance Officer an advantage

Competencies:

• Excellent interpersonal, written and verbal communication skills and ability to communicate and influence at an appropriate level.
• Good organizational skills, ability to work under pressure and prioritise within aggressive deadlines.
• Strategic mindset
• Strong influencing and negotiation skills; ability to build and maintain effective networks and relationships
• High level of attention to detail
• Ability to work as part of a team, and also work independently
• Good business judgement, knowing when to escalate, who to keep informed, ability to identify appropriate next steps/resolution
• Ability to work effectively in situations requiring analytical, interpretive and problem solving techniques.
• Effective management of complex decision making
• Ability to think creatively
• Positive “can do” attitude
• Self-starter with ability to take the initiative
• Ability to learn quickly
• Global mindset and ability to 'manage the matrix'
• Service orientated, professional, proactive & strong client/business focus and accountability

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