Senior Associate, Operations & Settlement at the Africa Finance Corporation (AFC)

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:

• 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,
• 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

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:

• 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.
• 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

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:

• 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.
• 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.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should:
Click here to apply online