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Senior Associate, Operations & Settlement at the Africa Finance Corporation (AFC)

Posted on Wed 03rd Oct, 2018 - hotnigerianjobs.com --- (0 comments)


Africa Finance Corporation (AFC) - Established in 2007, is a private sector-led investment bank and development finance institution created to help mobilize and channel required capital towards driving Africa’s economic development.

We are recruiting to fill the position below:

Job Title: Senior Associate, Operations & Settlement

Location:
Nigeria

Job Description
  • This is a critical back-office function with high control responsibility ensuring the accuracy and integrity of the financial system.
  • The holder will be responsible for providing support to the Corporation investment activities and day to day operations of the settlement function including reconciliations
Finance and General Operations:
  • Processing of transactions involving the Corporation into the relevant business systems.
  • Continuously work with financial control and auditors (internal and external) during annual financial statements audit
  • Ensure that transactional documentations are complete with all the requisite approvals before such transaction is processed.
  • Ensure that transactions are reviewed to ensure that errors and or irregularities are discovered promptly and escalated to the divisional head promptly.
  • Ensuring that transactional documentations comply with corporate policies and relevant regulatory requirements e.g. exchange controls, anti-money laundering, US Patriot Act,
  • Assist the financial controller to maintain all operational risk documentation not only for operations and settlement but the finance division, including monthly KRI and annual RCSA reporting.
  • Processing of all cheques for payment to contractors and suppliers.
  • Coordinate the month and year end closing of the financial books
Treasury and Investment Operations:
  • Preparation of confirmation letters for treasury deals, ensuring that all deals promptly confirmed with counterparties and follow up with counterparties in all cases of non-receipt
  • Recompute all cash flows on derivative and treasury borrowings as a second level check to the product controller before settlement
  • Review new customers and counterparties documents during on-boarding and creation in system.
  • Review and report receivables relating to loans and fees to investments and financial services divisions.
Investee Company Support:
  • Monitor payments due from investee companies e.g. dividend declared, reimbursement of cost, directors fees etc.
  • Periodically reconcile position such as shareholder loans with investee companies and other receivables.
  • Provide operational support for all investee companies
Facility Agency Role:
Serve as the facility agent for all trade finance transactions where the Corporation has been appointed. This includes the following:
  • Receiving utilisation request for borrower and notifying all lenders
  • Coordinating amongst lenders the timetable for funding
  • Determination and computation of the interest rate which involves interpolation where necessary. This will be agreed with each lender within the syndicate
  • Receipt of interest payments from Borrower and further distribution to syndicate
  • Receipt of all documentations from borrowers and providing confirmation to Lenders that all conditions precedent to disbursements have been met in line with the loan agreement.
  • Monitoring of all lenders covenants and advising lenders where there are breaches and recommending courses of action in line with the agreement
  • Conducting KYC checks on new Lender joining the syndicate
Requisite Competencies and Attributes
  • Internal controls and operational risks knowledge/skills
  • Highly numerate with excellent analytical skills
  • High proficiency in the use of the Microsoft Office Suite especially Microsoft Excel & PowerPoint
  • High proficiency in the use of key business applications (Treasury and Trade Finance Specialised Systems, Equity Platform, etc)
  • Good knowledge of ERP such as SAP FICO, treasury
Key Performance Indicators:
  • Speedy payments in direct support of the business
  • Zero payment error
  • 100% compliance with regulatory and legal standards and controls
  • Maintain integrity of the payment process
Minimum Qualifications:
  • Minimum of 6 -10years of practical work experience in wholesale banking business within perations and or Financial /Products Control. Previous experience in Treasury Operations, Trade and or Loan Operations will be an advantage.
  • Candidates with strong experience in Product Control or Risk Management will also be considered.
  • University degree with emphasis on Economics, Finance & Accounting or any other numerate disciplines (sciences and Engineering)
  • At least one relevant professional qualification e.g. ACCA, ACA.
Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online

  

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