About the position
Receive / source, plan, communicate, process and validate assigned corporate events to ensure events are effectively processed and clients are informed, enabled to make appropriate elections and receive entitlements for corporate events within prescribed deadlines and regulatory framework.
JOB FUNCTIONS
Essential Functions
- Calculate and apply withholding tax for non-exempt clients for assigned events, validate CA 1 calculation, and submit consolidated report (withholding tax and SARS notification) for verification and inform clients of individual tax breakdown (holding reports). Track and action tax status changes to client accounts. Monitor and action tax reclaims
- Coordinate the work of team members and provide on-the-job technical guidance and coaching to optimise resources and performance in the achievement of defined goals.
- Operational excellence Monitor, manage and escalate operational incidents and issues, collaborating with internal stakeholders to resolve. Use root cause analysis to recommend corrective measures to maintain efficient operations, provide a high-quality service and mitigate operational risk.
- Partner the manager to identify, manage and control areas of risk. Communicate, enforce and provide input to procedure, process, policy and risk documents to ensure proper controls are in place to mitigate risk and optimise regulatory compliance
- Plan, create and validate the assigned corporate event, review and validate plans for CA 1 colleagues to facilitate effective processing through the event lifecycle within prescribed deadlines and regulatory framework . Enrich communication to provide greater clarity, get sign off where required, and notify clients and internal stakeholders (e.g. Desks, Settlements & Custody Teams) via appropriate channels to keep them informed of upcoming events and enable them to make informed elections.
- Post-publication market engagement Access additional information from stakeholders (STRATE and Transfer Secretaries), if not immediately available, to enable accurate and consistent communication and responses to client queries.
- Prepare payment instructions to facilitate payments that are timeous and automated and reconcile proceeds received against payments to ensure suspense account balances back to zero. Validate reconciliations for CA 1 colleagues.
- Pre-publication market engagements, On request assist with research and provide inputs to Manager to inform event communication and processing strategies prior to publication.
- Process the Corporate Event (including Proxies and Letters of Representation) Manage assigned corporate event plans in terms of key dates to ensure that client instructions are received, recorded, reconciled and submitted accurately within prescribed deadlines and regulatory framework. Review and validate information captured for CA1.
- Product support and enablement Provide inputs to cross-functional work groups regarding Corporate Actions considerations / requirements to ensure the effective operation of new product development and smooth activations
- Receive and source corporate actions and proxies Monitor announcements (SENS, Exchange Diaries) and track STRATE notifications, to identify corporate events for notification, validate, analyse and interpret information of assigned events to ensure clarity and understanding of the event, its complexity and impact on client holdings/positions. Assist, support and verify work performed by CA1 where required.
- Reconcile instructions, eligibility, entitlements and rectify exceptions Ensure that holdings (cash and stock) and STRATE balance for assigned events and validate balances for CA 1 colleagues. Investigate and rectify where there are disputes to ensure that consolidated client instructions / accounts reconcile at nominee account level with CSD confirmation.
- Reporting and management information Contribute to reporting and other management information by reviewing, validating, analysing and collating data to track performance and provide insights to process and systems optimisation.
- Stakeholder engagement Establish relationships with internal stakeholders across CIB (eg Desks, GM Tax Team) and external stakeholders (eg CSDPs and brokers) to facilitate quick resolution of escalated, complicated queries and Corporate Actions issues, meet client expectations, regulatory requirements and mitigate risk to CIB.
Work Experience
- 1-2 years: Proficient with BANCS or similar Corp Actions processing system.
- 3-4 years: Corporate Actions environment and proficient financial market knowledge. Experience managing a small team or projects
Total number of years' experience: 5 years
Desired Skills:
- Strategic Planning and Reporting
- Deal or Trade Life Cycles
- Client Servicing
