Job Purpose:

The Assistant Manager, Custodial Services is responsible for the overall supervision and strategic direction of custodial operations within the bank. This role ensures the effective delivery of custodial services, operational support, and risk management, with a strong focus on compliance, accuracy, and client satisfaction.

The incumbent will lead the custodial services team to achieve operational excellence through continuous improvement, optimal resource utilization, and robust team development. A key responsibility is to ensure the seamless execution of bond trading and treasury back-office operations, minimizing operational risk and ensuring timely and error-free delivery of the bank’s commitments to stakeholders. The key responsibilities of the role are:

• Oversee the settlement of equity and fixed income transactions, ensuring accuracy and timeliness.
• Manage the immobilization and registration of securities in line with regulatory and market requirements.
• Supervise inward and outward payments, ensuring compliance and efficiency.
• Ensure accurate and timely billing and client invoicing.
• Maintain robust message control mechanisms to support secure and reliable communication.
• Deliver high-quality client service, including prompt resolution of client queries and proactive engagement.
• Optimize resource utilization to enhance productivity and service delivery.
• Drive continuous improvement initiatives across custodial operations.
• Monitor and mitigate operational risks, ensuring zero tolerance for errors in service delivery.

Key Responsibilities

Financial - 30%

• Enhance the bank’s revenue targets by ensuring 100% revenue collection for all Treasury and Custodial products
• Ensuring complete and accurate processing and settlement of all treasury deals contracts to avoid losses from operational lapses
• Adherence to budget utilization approved limits
• Mitigate financial losses emanating from processing fraudulent transactions

Operational/ process Excellence - 50%

Process Settlements

• Manages settlements and ensures effective control and compliance with Operating Procedures
• Maintaining, revaluing and advising od SBM’s Kenya Operation Investment book to various stakeholders
• Ensure Complete and accurate processing of all treasury Fixed Income contracts and related transactions in the treasury and core banking systems and adhering to cut off times for systems and markets.
• Manages all transactions in Central Depository to ensure trades are posted and authorized in a timely and accurate manner
• Ensuring clients' funds are received and paid as per instructions, in a timely and accurate manner.
• Meets clients' specific requirements as per their Standing Instructions, SLA, specific instructions and internal standards
• Ensures timely reporting with Treasury for FX transactions and timely earmarking in the system

Process Payments

• Ensure payment / receipt instruction are processed in a timely manner (cheques/ RTGS/ Book transfers)
• Verify and upload the instructions via Flex
• Confirm upload to clearing team for processing
• Verify book transfers debiting client accounts and crediting suspense account and vice versa.
• Ensure client payment instructions are processed promptly on receipt.

Billing and Invoicing

• To Ensure invoices are generated and processed within defined timeframe
• To ensure that client billings are accurate and timely and outstanding are kept to a minimum through timely collection of income
• Receive and process remittances against invoices from clients
• Preparation of VAT payments in liaison with Finance Dept.

Process - Corporate Actions

• To perform the day-to-day corporate actions’ processing in respect to:
• Ensuring that information relating to Corporate Action announcement is captured accurately, complete and timely in Innova Custody, including the timely dissemination of information to clients
• All corporate actions events and especially those related to voluntary / with options are processed in a timely, complete and accurately manner and released to clients / depository respectively within agreed SLA and before market deadlines.
• Monitoring for receipt of Corporate Action entitlements and where required pro-actively follow-up with the companies to ensure receipt of client entitlements on or before due date.
• Ensuring that all cash and securities proceeds are reconciled and processed on timely manner and cash proceeds are credited to client’s account upon cheques clearance
• IPO/Auction applications are processed as per client instructions and allotment credit is received on a timely basis.
• Ensuring that agendas / annual reports are received and dispatched to clients on a timely basis, and proxy instructions are executed as per client requirement
• Effective follow up with the clients who have not provided the voluntary corporate actions instructions
• Ensuring that all the client queries are responded to within the time frames pre-specified. Additionally, identify new mechanisms to add value to the existing reporting requirements in order to achieve increasing client satisfaction.
• Interact effectively with the Officers of other Sections to ensure adherence to guidelines for securities accounts, dematerialisation and physical securities maintenance and smooth processing of transactions.
• Ensure daily reconciliation before market deadlines in order to mitigate any possible operational risks of missing / incomplete processing of voluntary / with options corporate actions resulting to possible operational loss.

 Message Control

• To receive and reconcile messages received via SWIFT, Email & courier from clients on daily basis
• Distribution of messages to relevant area within custodial services department in an accurate and timely manner

Systems

• Support development of effective Management Information (MI) templates and provide MI by due date providing required and timely Management Information
• With the manager CS ensure continuous improvement and subsequent implementation of interdepartmental and client SLAs
• Keep manager CS and AGM BD advised of financial and any extraordinary developments.
• Ensure essential returns/reports are properly completed and filed
• Ensure any system usage training gaps are identified and training plan agreed
• Monitor and report on activities, costs, performance, etc, as required
• Ensure that procedures laid down in the departmental operating manual are followed
• Ensure suitable standards of ergonomic design and decor for both internal and external advantage
• Undertake any projects or additional tasks assigned by manager CS

Customer Service Excellence - 20%

• Ensuring complete and accurate processing of all Treasury and Custodial Contracts as per existing SLAs and within agreed TATs
• To ensure that all client requirement/communication/ queries are logged in and responded to within 24 hours of receipt. A holding response to be sent the same day in case the final response requires further investigation
• Facilitate and keep up to date power of authority for authorizing the transactions as per delegation authority
• Provide clients with timely notification of issues impacting the market and their assets. Ensure service & client contact enables us to be perceived as providing top rated service in the client surveys
• Support clients information requests and on-site visits by ensuring clients due diligence visits are fully supported with clients expressing positive feedback
• Filing of settled trades documents per client and statements relating to clients’ investments
• Maintain and share with colleagues as appropriate, personal knowledge of all relevant custodial services procedures; tariffs and duties; licenses and restrictions.

Key Relationships

Direct Reports to this Position - Officer, Custodial Services.

Customers of this Position

Internal                                                                             

• Manager, Custodial Services
• Business Development
• Branches
• Treasury Support officers
• Finance
• Customer Service Department Representatives
• All Staff

External

• All Bank Clients
• Stock Exchange and Regulatory Bodies
• Industry Counterparts
• Senior Executives/ Owners of Pension Funds

Knowledge, Skills and Experience required for this Role

• At least 5 – 7 years operations experience in Treasury Operations, custodial services, pension fund management or administration.
• Degree from an accredited university in a business degree
• Certificate level qualification in Securities Services related course (CISI)
• Excellent analytical skills
• Excellent communication, written and verbal skills
• Excellent interpersonal sensitivity

Competencies required for this Role

1. Operational Excellence

• Quick thinking and sound decision-making in daily operations.
• Strong understanding of settlement, payment, and custodial processes.
• Ability to manage exceptions and ensure timely resolution.
• High attention to detail and accuracy in transaction processing. 

2. Strategic & Analytical Thinking

• Ability to identify and implement process improvements.
• Capacity to contribute to new product development and business opportunities.
• Strong understanding of economic, political, and business environments affecting custodial services.

3. Risk & Compliance Management

• Proactive in identifying and mitigating operational risks.
• Strong control orientation to prevent audit failures and financial losses.
• Knowledge of regulatory requirements and internal policies. 

4. Client Service Orientation

• Commitment to delivering high-quality service within SLAs and TATs.
• Ability to manage client queries and expectations professionally.
• Strong interpersonal skills to support client visits and due diligence. 

5. Leadership & People Development

• Ability to coach, mentor, and develop high-performing teams.
• Skilled in identifying training needs and facilitating learning.
• Promotes a culture of accountability and continuous improvement. 

6. Financial Acumen

• Understanding of revenue generation and cost control.
• Ability to manage budgets and achieve financial targets.
• Awareness of market trends and competitor activities. 

7. Communication & Collaboration

• Effective communication with internal and external stakeholders.
• Ability to present solutions and insights as a subject-matter expert.
• Strong coordination across departments to ensure smooth operations. 

8. Technology & Systems Proficiency

• Proficient in using core banking systems, SWIFT, and MI tools.
• Ability to operate standard office equipment and software.
• Identifies system training gaps and supports digital enhancements. 

9. Brand & Culture Advocacy

• Promotes the bank’s brand values in all interactions.
• Upholds professionalism and ethical standards.

 Accountability

Authorization & Compliance

• Exercise signing authority in accordance with the bank’s approved framework and delegation matrix.
• Ensure all transactions are authorized within defined limits and documented appropriately.

Trade Execution

• Place buy/sell orders for shares with panel brokers strictly based on client instructions.
• Ensure timely and accurate execution of trades to meet market deadlines and client expectations.

Client Account Management

• Process all debits and credits to client accounts and cashier’s order accounts as per client instructions.
• Ensure funds are credited immediately upon clearing to maintain service excellence and trust.

General Ledger & Suspense Account Oversight

• Justify all debits and credits posted to suspense and general ledger (GL) accounts.
• Maintain audit trails and ensure reconciliation of all entries to prevent financial discrepancies.