The Head of Custodial Services is responsible for the overall management of business development functions within the custodial section of SBM Bank Kenya. The overall purpose of this role is to provide strategic leadership to the custodial relationship team and drive the custodial offering through the three business segments: Corporate, SME, and Consumer banking. This is critical for driving the bank's profitability, growth, and building strong customer relationships that enhance service excellence and loyalty. This role also encompasses business development aimed at fully utilizing SBM's Automated Securities Dealers (ASD) license.
Job Purpose
Responsible for the overall management of the business development functions within the custodial section. The overall purpose of this role is to provide leadership to the custodial relationship team as well as drive custodial offering through the three business segments i.e. Corporate, SME and consumer banking to drive the banks profitability, growth and building customer relationships that enhance service excellence and customer loyalty. Business Development to fully utilize SBM Automated Securities Dealers license.
Key Responsibilities
Strategy
- Develop, manage, and implement strategies aimed at targeting corporate institutions, pension funds, and High Net-Worth Individuals (HNIs) for the purpose of acquiring custody clients and Automated Trading System (ATS) clients, thereby growing the Bank's non-funded income lines.
- Ensure adequate customer origination and retention strategies are employed to attain business growth.
- Develop marketing and business strategies to expand customers for both the Custodial business and Automated Securities Dealers business.
Acquisition: Business Development
- Develop and monitor Custody and ASD business to ensure the bank remains competitive within the dynamic environment.
- Grow the bank’s non-funded income by ensuring full utilization of Custodial and ASD licenses.
- Oversee product development initiatives and review existing products' performance and uptake.
- Ensure the custody business development team maintains a 360-degree relationship view on all customers through cross-selling and deep-selling.
- Ensure retention and growth of existing customers.
- Provide accurate investment updates to clients.
- Develop client propositions for corporates and HNIs within custody and ASD business lines.
- Ensure regular updates to clients regarding the status of their investment portfolios.
- Inform clients of new investment opportunities within the capital and money markets.
- Ensure effective liaison with stakeholders in the fixed income market, including CMA, NSE, CBK, and transaction counterparties.
- Collaborate with SBM group companies to create synergies in the wealth management product offering.
- Assist the Head of Operations Custody and ASD to oversee execution of trading activities.
- Continuously identify business opportunities in line with the strategic direction of the Bank and the group.
- Innovate and roll out lending propositions that enhance the custody and ASD businesses by the Bank.
- Contribute to the creation of new product lines and new business opportunities, both locally and overseas, working with product management and sales teams. Where necessary, act as a “subject-matter-expert” in presenting solutions to stakeholders/clients.
Compliance
- Ensure compliance with both internal and external regulatory requirements.
- Work closely with risk and compliance units to ensure effective controls to mitigate business risks associated with custodial business and ASD Business.
- Develop and continuously review business operational policies and procedures, ensuring full compliance.
- Ensure compliance with the requirements of the Capital Markets Authority, Central Bank of Kenya, Nairobi Stock Exchange, and any other regulatory body.
Human Resource
- Manage and develop human resources compliment with the aim of achieving set targets via a competent and highly motivated team.
- Address staff gaps and handovers by existing staff in a timely manner.
- Develop career growth and personal development plans for team members.
- Assess the training needs analysis for team members to be incorporated into the overall departmental training plan.
Direct Reports to this Position
- Senior Relationship Managers
- Relationship Managers
Customers of this Position
- Bank customers across the three business pillars: Corporate, SME, and Retail
- ALL HODS (Heads of Departments)
- Custodial units and NBFI cluster within the group
- Treasury departments across the group
Knowledge, Skills and Experience Required for this Role
- At least 5 years management experience in custodial services, pension fund management or administration, 3 of which are in relationship management or client services.
- Business Graduate from an accredited university, preferably majoring in Finance or Economics. A post graduate degree will be an added advantage (MBA).
- Certificate level qualification in professional securities services or related courses (CISI), ICIFA or CFA.
- Excellent selling and negotiation skills, communication, written and verbal skills, and interpersonal skills.
Competencies Required for this Role
- Emotional Intelligence; Dynamic, individual with the ability to work under pressure.
- Excellent selling skills.
- Strong networking skills, for both internal and external networks.
- Relationship Management skills with excellent Human Relations skills, communication skills, and interpersonal skills.
- A passion for performance, building team play, and achievement in a competitive and dynamic environment.
- Hardworking, strategically minded individual with excellent leadership, organizational, and planning skills.
- Commercial awareness and customer focus.
- Pleasant, honest, outgoing, and self-driven.
- Ability to contribute to the creation of new product lines and new business opportunities, acting as a subject-matter-expert when presenting solutions.
- Strong analytical and marketing skills.
