Head of Operations Stockbroking at Nedbank Private Wealth South Africa

Job Purpose

• To deliver a world class operational and financial function that supports the Investment Management (Stockbroking) overall objectives; in line with Nedbank's strategy.

Job Responsibilities

• Compliance: Maintain regulatory relationships with all regulators. Ensure full reporting / disclosure and regulatory compliance is met. Review legal agreements related to both front office and operational functions.
• Finance:  Meet revenue, cost budgets and manage all expenses. Review JSE control accounts monthly. Manage unallocated deposit accounts.
• Risk: Maintain key policy documents such as Credit Policy / SODA / Misdeals/ Systems Access/ BCP and DR. BCP and DR planning and owner. Input and sign off of all RCSA's. Annual review of lost threshhold limits. Minimise operational and execution losses that would impair business results including margin calls and carry acount management. Data Management Owner. Owner for Cyber Crime strategy and reporting. Tier I credit signature.
• Operations: Delivery of system changes or new systems into the business. Oversee all operational functions across the entire business including front office functions.Create operational efficiencies. Resolution of complex queries. Point of contact and service to Investment Managers.  Review/ test and sign off of annual tax reporting to SARS and Client. Reporting to SARB on Foreign Investment allowance (Asset Swap).Maintain all mandates and forms. Approval of client off boarding. Misdeal management and investigations. Monthly review meetings with service providers. Identify areas of resource inefficiencies and promote optimisation through multi-skilling and addressing capacity gaps.
• Strategy: Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI. Ensure full alignment of functional area strategies with the business strategy. Stay abreast of developments in field of expertise, ensuring personal and professional growth. Understand and embrace the Nedbank vision and values, leading by example. Deliver a worldclass service by ensuring a client centric culture. Contribute to 3 Year Planning in the business. Research, motivate, design and implement innovative systems and processes to facilitate a more efficient business.
• Projects: Manage projects through to delivery within expected timeframes and budgets to meet business objectives.
• Forums: Chair monthly admin OPCO and quartely Business OpCom. Represent the business in various forums such as Cluster Credit Committee, ERCO, OPCOM. Attend JSE Broker Forum and SAIS broker forum.
• People management: Manage performance of reports and hold them accountable for managing the permance of their reports by implementing performance agreements and ensuring a clear vision. Identify relevant development needs. Maintain a high performing team by identifying a talent pool through career conversations and using the talent grid principles and developing talent retention programmes. Build depth of skills and knowledge in the team of managers by sharing knowledge and insight. Ensure continuous improvement goals are achieved by creating an environment whereby self, managers and team are encouraged to challenge the status quo by intitiating constructive debates about work practices. Ensure transformational targets are met.

Qualifications:

• Matric / Grade 12 / National Senior Certificate
• B.Degree
• JSE Exams (would be advantageous)
• CFA (would be advantageous)

Experience Level

• 5 - 10 years experience in an operational function in the financial services sector with specific reference to stockbroking of which 5 years must be in a leadership role.

NB: Preference will be given to individuals from underrepresented groups. 

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