Vacant Job For Senior Associate, Operations & Settlement at the Africa Finance Corporation
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:
- 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
- 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,
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:
- 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
- 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.
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:
- 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.
- 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.
How to Apply
Interested and qualified candidates should:
Click here to apply