Job ID: 21140 Job Sector: Investment Management Job Purpose
The Head Investment Management is responsible for coordinating and supervising fund manager(s) activities to ensure professional management of portfolios of numerous institutional and retail pension/gratuity clients towards achieving the Company’s business objectives.
He/She also reviews financial analysis, research, asset selection, stock selection, fund plan implementation, and monitors investments and strategic decisions relating to Portfolios under his/her purview.
Key Responsibilities/Accountabilities Manage Investment opportunities with key industry clients:
Manage clients expectation with regards to portfolio performance
Maintain key relationship with clients
Attend quarterly Board of Trustees meeting to communicate fund performance, economic and financial market outlook that might impact performance of assets under management
Ensure the RSA portfolio is within the top 20 percentile on a risk-adjusted basis
Review of clients monthly, quarterly reports for Approved Schemes in line with client mandate
Review of all presentations for quarterly clients Board of Trustee presentation
Respond to clients enquiries pertaining to performance of funds under management
Monitor investments, economic conditions, markets and portfolio performance with respect to stated investment objectives/goals and make appropriate recommendations to the ED- Investments
Responsible for identifying and sourcing investment opportunities with key industry clients.
Create report to EXCO on key performance parameters of the Investment Division
Maintain competitive watch and market intelligence on the performance of competitors in the pension industry.
Ensure strict adherence to the guidelines set by the Board Investment and Risk Management Committees.
Provide in-depth and expertise Fund Management knowledge (Advisory, Debt Products and Capital Markets)
Preparation of marketing proposals to potential corporate clients to increase asset under management
Maintain important relationship with clients and counterparties
Represent the company in investment fora that are of potential interest as investment outlet
Conduct training on investment process and techniques for new entrants into the investment management division
Ensure the timely rendition of returns to clients and regulatory authority
Periodic (weekly, monthly, quarterly, yearly) comparative analysis of fund performances for portfolios under management as well as co-managed pension & gratuity portfolios (i.e portfolios being managed in collaboration with other PFAs)
Ensuring absolute compliance with all the Provisions of the Pension Reform Act 2004 as well as any other guidelines as issued by PenCom
Update the investment committee on any significant developments within the Investment Management Division or investment environment
Ensuring update of Investment Management Manual with respect to changes in the Investment Management processes
Review of money bulletin to staff of SIPML.
Manage Fund Managers Activities:
Oversee the Fund management function and develop Fund strategies and service delivery models.
Manage the department’s organizational arrangement and recommend changes/improvements to the ED-Investments as appropriate.
Proactively develop relationships with key external stakeholders including local regulators relevant to the business, product heads, key suppliers, key industry specialists and clients, and external regulatory bodies to ensure the company gets appropriate co-operation when required and that the company meets and is seen to meet regulatory compliance.
Build and develop relationships across the firm with various stakeholders with the intention of breaking down silos to maximise business growth.
Hold primary relationship with existing and prospective clients and handle all aspects of client interaction including coordinating and execution of transactions
Fund Reporting: Reporting of daily fund valuations and fund issues
Mutual funds: Purchase and sale of mutual funds
Blotters: Preparation of blotters detailing transactions for settlement to various counterparties
Research: Preparation of detailed fundamental analyses of companies we invest in for the equities portion of portfolios under management. It also involves data collection on relevant newspaper clippings, research reports and any material that may be useful to the preparation of research reports, weekly bulletin and declaration of corporate actions on equities held in our portfolios
Corporate Action: Declaration of corporate actions (i.e dividends, bonuses, stock splits) and collation of information pertaining to declaration of corporate actions for equities held in portfolios under management
Maintain an up-to-date credit rating for companies that are permissible for investment
Review of daily investment advice and contract letters pertaining to all money market and bond transactions and other correspondence that may arise from daily operations
Review of Contract letters for all money market and bond transactions consummated
Equity Mandates: Review of mandate instruction by e-mail to stockbrokers,
Money Market deals: contacting financial institutions by agreeing terms on money market investments being dealt upon in accordance with Investment Management meeting and overall strategy of the Investment Management Division
Weekly money market rate survey among commercial banks
Bonds: Purchase and sale of bonds and sending out instructions with reference to the bond transaction.
Bonds: Preparation of Bid for monthly bond auction
Manage the risk:
Adherence to the guidelines set by the Board Investment and Risk Management Committees with respect to Investment Processes
Ensure adherence to all Company’s standards/policies.
Ensure regulatory & legal compliance.
Input to both Company’s management on country risk issues / limits.
Ensure reputational risk is properly managed especially those that impact the company
Assist in monitoring markets and pre-empting risk for both clients and Stanbic IBTC
Preferred Qualification and Experience
Post Graduate qualifications in Finance, Economics, Accounting or other relevant degree. Other relevant qualifications including qualifications such as a Masters, and MBA is required
Master’s in Business Administration; Strong Analytical/Numeracy Skills; Insight and knowledge of local and international practices in pensions and retirement benefit industry; In-depth understanding and practical knowledge of Asset/Fund Management industry.
Minimum 10 years post qualification experience with at least 4 years spent in the Financial Sector and 4 years in top management position Experience in banking/asset management/pension fund investment.
Knowledge/Technical Skills/Expertise Technical Competencies:
Technical competency 1:
Competency Label: Client Engagement
Competency Description: The ability to determine the appropriate type of investment strategy need for different classes of portfolio with the ultimate aim of achieving the set goals within the regulatory framework.
Proficiency Level: 3 – Proficient (Detailed understanding)
Technical competency 2:
Competency Label: Performance Benchmarking
Competency Description: The ability to select the appropriate index or other benchmark information to use to review investment performance.
Proficiency Level: 3 – Proficient (Detailed understanding)
Technical competency 3:
Competency Label: Capital Market
Competency Description: Knowledge of the part of the financial system that focuses on raising capital through dealing in bonds, shares and other long term investment vehicles.
Proficiency Level: 3 – Proficient (Detailed understanding)
Technical competency 4:
Competency Label: Local Market Knowledge
Competency Description: Expertise on the opportunities, competitive environment, regulations, and risks related to doing business in a particular country.
Proficiency Level: 3 – Proficient (Detailed understanding)
Technical competency 5:
Competency Label: Investment Analysis
Competency Description: The ability to conduct assessments of the economic impacts, market trends, earnings prospects, stability and profitability of investment options.
Proficiency Level: 3 – Proficient (Detailed understanding)
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