The job involves overall monitoring of the operational risk and compliance function of the Trustee Services. The role holder will be responsible for ensuring regulatory compliance of the business. This will include ensuring that the two products under Trustee services- REITs and Unit Trusts-have the highest degree of compliance with the Banks policies as well as the regulations under the Capital Markets Act and the attendant regulations.
The role holder will be responsible for designing, developing and implementing operational solutions for Trustee & Registrar services including the use of technology in the business.
The role holder will be responsible to deliver 1st class service as they work with stakeholders.
Job Specifications
- Academic: A Bachelor’s degree any Business related field.
- Professional: Kenyan Capital Markets Certification (CISI), Trustee Development Program Certification (TDPK), Investment Administration Qualification (IAQ), Regulation & Compliance Course, Bonds and Fixed Income Markets Course. Associate of the Chartered Institute of Bankers (ACIB) qualifications will be an added advantage.
Desired work experience:
- Minimum 5 years’ experience in banking particularly securities services (custody, Fund Administration and Trustee Services), with specific minimum 3 years’ experience handling REITs and or Unit Trusts
- Prior experience of handling a similar role with demonstrable knowledge of the Capital Markets Regulations covering REITs and Unit Trusts
NCBA Values
- Driven - We are passionate, make bold decisions and learn from our failures. We seek new challenges and appreciate different views constantly raising the bar. We explore our full potential.
- Open - Our interactions are candid, honest and transparent. We listen to each other and our clients. We are inclusive and always respect each other.
- Responsive – We put our customer’s interests at the heart of all that we do. We are proactive, act quickly and resolutely to deliver results. We keep it simple and seek new ways to improve.
- Trusted - As a trusted partner we do what is morally, right always. We keep our word. We are accountable and believe in each other
Job competencies
Technical Competencies
- Financial analysis Skills: Ability to analyze and interpret financial statements.
- Basic Legal Documentation Review: Be able to read and understand regulations, trust deeds, legal opinions, client agreements etc
- Business Acumen: Be able to take commercial decisions for the growth of the business
- Analytical business and investment appraisal Skills: Keen to detail and able to conceptualize financial investment proposals and provide viable solutions.
- People Management Skills: Ability to build a team and work effectively to deliver results through people
- Technology skills: Computer literate with proficiency in Banking and Custody applications.
- Industry knowledge: First hand knowledge of Collective Investment Schemes such as REITs, the Retirement benefits industry, financial sector and investment instruments.
Personal Attributes
- Goal driven and results 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 contacts.
- Communication Skills: Excellent written and verbal communication skills as well as presentation skills.
- Interpersonal Skills: Must be a people’s person, with ability to interact with the various parties within the retirement benefits sector.
- Proactive Initiator: Must be pro-active, a self-starter and have the ability to identify, grasp and advice on opportunities.
- High Level Energy: Must be able to provide excellent service to the very demanding pension industry both in terms of hours and volume of work.
- Leadership Skills: Prior management experience.
Regulatory Compliance (40%)
- Review reports daily, weekly, monthly and quarterly fund manager/custodian reports to ensure compliance with the Collective Investment Scheme regulations, Respective constitutive documents, Regulatory Guidelines and the Banks Policies & Procedures
- Ensure proper KYC for new client onboarding and lodged safely with the Bank
- Initiate and Escalate any non-compliance issues with the REIT Managers, fund managers, custodians with a view of resolving.
- Document all compliance engagements with the respective clients for reference
- In consultation with the Head of Trustee Business engage the regulators on any matters relating to Trustee services compliance
Internal Compliance (30%)
- Ensure proper KYC/AML documentation for new client onboarding and lodged safely with the Bank
- Document all compliance engagements with the respective clients for reference
- Conduct regular compliance reviews for existing clients under both REITs and Unit Trusts
- Recommend improvements in process and systems with a view to enhancing the compliance function of the Business
- Recommend appropriate systems that enhance the compliance aspects of the business
- Maintain the Trustee Services Risk Register and follow up to resolution and mitigation identified risks
Internal business processes (15%)
- Ensure business compliance with internal operational and audit requirements.
- Ensure coordination with the Custody & Registrar Businesses for the shared services where applicable
- Continuously re-assessing the operational risks inherited in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices.
- Ensure SLAs, signing mandates and other safeguard measures are put in place for all new relationship.
- Ensure regulatory reports and meetings are done on time and actively supervising the relevant appointees such as auditors, REIT Managers, Fund Manager’s, Valuers, Custodians etc
- Monitoring the receivables position and ensuring that income and other entitlements due from clients are received within reasonable time.
People (15%)
- Attend scheduled internal and external trainings.
- Train other staff members on the service to ensure there is BCP
- Keep a breast with regulatory and other changes in the business
- Train, mentor, motivate and supervise new, team members.
- Conduct research into market updates and systems in order to foster continuous improvement.
