Middle Office Administrator at Rand Merchant Bank

About the job

RMB is a market leader in Corporate and Investment Banking where our people are our differentiator. They come from many different backgrounds, bringing unique perspectives to finding solutions and solving challenges for our clients. At RMB our thinking digs deeper and sees further. With a can-do mindset that is considered and innovative, curious and resilient we unlock unique opportunities for our clients and society. We seek people who create a culture of sharing and who champion honourable behaviour. Our people are smart, hard-working, self-motivated and have a passion for their work and the success of RMB. 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 appointments will be made in line with FirstRand Group’s Employment Equity plan.

• The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties

To act as the administrative point of contact between Back Office operations and Front Office in line with the JSE rules and segregation of duties.

Responsibilities

• Client onboarding

• Once a client has opened a trading account with RMB Morgan Stanley and the documentation has been prepared and loaded, check that it has been loaded correctly and verify client details on BDA

• Verification and distribution of deal confirmations against checklist received by client

• Upon a client placing an order, check and verify contract and email the contract to the client

• Review confirmations against daily checklist to confirm that client requests have been correctly allocated

• Once confirmed as correct, release electronically to clients

• If there has been a mistake (e.g. price, quantity or brokerage), or the allocation has been changed, perform a deal amendment by reversing the incorrect transaction and rebooking it correctly. Send new confirmation, or an amended one

• Accurate, timely static data administration

• Verify changes to static data on BDA as and where required

• File supporting client documentation for audit purposes

• Deal management

• On new funds being opened for clients daily, or any amendments thereto, with Middle Office Manager, verify reports and sign off to confirm member’s satisfaction that adjustments to his or her static data are correct

• Perform a reconciliation of inventory occurring daily (stock scan / ledger) and clear allocation accounts daily; if the accounts are not zero, resolve with dealer

• Accurate, timely capturing of missed deals

• Print PSKLE account 42036

• Obtain explanation from dealers for profits and losses

• Capture open pages, and if there is any dealer error, or loss of R5000 or more, email form to Risk for review and resolution

• Keep records for audit purposes

• Confirmed alignment between PAHDIM and PAHDIN reports, client documentation and BDA (daily)

• Check PAHDIM and PAHDIN reports against client documentation and BDA (daily)

• Sign to confirm accuracy and file for audit purposes

• Accurate filing

• Maintain accurate files for easy retrieval

• Stakeholder relationship management

• Build and maintain professional working relationships with all stakeholders, displaying excellent abilities to initiate dialogue, listen, advise, influence and negotiate to achieve win-win outcomes

• Initiate meetings with key stakeholders to track progress, manage expectations and ensure stakeholders’ requirements are delivered

• Preserves relationships despite airing conflicting views and seeks mutual gains when addressing conflicts

• Anticipates consequences and adapts problem solving based on continual feedback

• Act speedily to resolve problems, queries and complaints

• Adapt communication styles to meet the needs of different audiences

• Teamwork, self-management and alignment with group values

• Self management:

• Demonstrates pride in the organization’s brand, services and products by consistently delivering on the brands promise

• Plan and manage own workflow, anticipating obstacles, juggling priorities and following through on objectives within agreed time-frames and according to quality standards

• Stay relevant and up-to-date with legislations and new development

• Maintain a positive attitude and respond openly to feedback

• Handle stress in ways that do not negatively impact others

• Take ownership of personal career development, leveraging formal and informal opportunities

• Act in an ethical, transparent and morally defensible manner, including highlighting unethical practices

• Teamwork:

• Continually share, debate and communicate learning’s

• Flag and debate issues constructively

• Contribute to a friendly, co-operative climate in working with others to achieve collective goals

• Be sensitive to others feelings, needs, values, views and attitudes and be courteous and diplomatic when dealing with difficulties and problems others may be experiencing (EQ)

Qualifications and Experience

• Grade 12; Settlement Officers’ Exams (preferred)

• 2+ years’ stockbroking administration experience

• Able to maintain accuracy and focus under pressure

• Technical Pre-requisite

• Knowledge of stockbroking administration

• Compliance background

• KYC background

Competencies:

• Analysis and Attention to Detail

• Focus and Sustained Attention

• Problem Solving

• Drive for Results

• Rule Orientation

• Excellence Orientation

• Time and Self-Management

• Customer Service Orientation

• Teamwork

• Verbal and Written Communication