Head of Prime Financing Operations at Rand Merchant Bank

RMB is a market leader in Investment Banking and our biggest asset is our people. We believe there is no end to what we can achieve for our clients, our shareholders and ourselves if we have the right people. We seek the best – smart, hard-working, self motivated, committed people with positive attitudes and passion for their work and the success of RMB. Our people come from many different backgrounds which adds richness to our talent pool. We offer a non-hierarchical, entrepreneurial environment where our people think and act like owners. We empower people, hold them accountable and reward exceptional performance.

All suitable qualified candidates will be considered and appointments will be made in line with the Bank’s EE Strategy.
Role Purpose                

• To develop, manage and monitor intraday client facing operations whilst maintaining an appropriate control environment and day to day relationships with clients, industry participants and stakeholders for the following business areas: Prime Broking, Cross Asset Lending/ Borrowing, and Collateral Management.

Responsibilities

• Analyze existing processes and identify gaps and opportunities for improvement to provide exceptional client service and mitigate operational risk
• Develop processes for new product offerings, either by aligning to existing processes or creating new approaches
• Stay abreast of regulatory and industry changes and their impact on the business and ensure these are embedded in daily processes
• Ensure all processes are documented and updated regularly
• Ensure daily operational processes and procedures work correctly with continued improvement of processes and procedures
• Continually liaise with clients to get feedback and assess their ongoing needs and requirements with a view to continuously evolving our service offering
• Provide input into system changes to ensure platform is user friendly for clients and suitable for operational purposes
• Automate manual processes and put systems in place for more efficiencies
• Initiate dialogue to build professional working relationships with all stakeholders, displaying excellent abilities to listen, advise, influence, negotiate and present at all levels
• Lead and facilitate difficult conflict situations into consensual agreements
• Integrate opinions and information provided by various sources to make strategic decisions
• Adapt communication styles to meet the needs of different audiences
• Continually scan the industry to identify opportunities to create strategic partnerships with key individuals and bodies
• Find opportunities to leverage relationships and promote knowledge sharing, ideas and insights
• Identify system issues and liaise with BT to remedy
• Identify opportunities for system enhancement and work closely with BT to implement proposed changes
• Work closely with Operational Managers to monitor exceptions, ensure they are resolved promptly and to analyze and address operational breakdowns and gaps
• Identify root causes of operational breakdowns and resolve / escalate to relevant stakeholders
• Manage KRI’s of individual teams
• Oversee the Operational Managers and their teams and ensure processes and controls are followed
• Work closely with Operational Managers and their teams to resolve escalated issues
• Oversee the annual budget process and recovery allocation methodology
• Monitor expenses in relation to budget
• Manage daily costs and headcount within budget and processing volumes
• Represent the function in relevant internal and external forums to remain abreast of current and emerging issues and to influence decision-making
• Take full responsibility for performance management of all direct reports, focusing on all aspects of sound people management:
•   Recruitment
• Development
• Performance Management
• Remuneration and Rewards
•  Career path planning
• On-the-job training, coaching & mentoring
•  Transformation
• Ensure appropriate levels of management and accountability
• Motivate, delegate and empower appropriately, enabling direct reports to take responsibility and display appropriate creativity and initiative
• Work with the team to actively grow their skills
• Define performance contracts for staff members, monitoring their performance against agreed objectives and working with them to grow their skills and confidence where needed
• Monitor staff performance against agreed service levels and performance contracts
• Demonstrate pride in RMB’s brand and values by acting in ways that are consistent with these
• Display skill at mentoring/coaching others and resolving conflict
• Drive best-in-class solutions and practices
• Maintain a positive attitude, respond openly to feedback and handle stress in ways that does not negatively impact others
• Plan and manage own workflow, anticipating obstacles, juggling priorities and following through on objectives within agreed time-frames and according to quality standards
• Act in an ethical, transparent and morally defensible manner, including highlighting unethical practices
• Flag and debate issues constructively
• Promote collaboration in working with others to achieve shared goals

Qualifications and Experience

• Relevant post-graduate degree, e.g. B Comm
• 7+ years’ financial markets experience in a CIB environment

Competencies:

• Problem Solving
• Building Strategic Relationships / Networking
• Business Insight and Risk Awareness
• Monitoring and Measuring