Internship | Job Vacancies at Ecobank Kenya

Portfolio Manager, EDC Asset Management at Ecobank Kenya

JOB PURPOSE

The Asset Management Business of EDC requires the expertise of a Portfolio Manager for the Portfolio Management unit within Asset Management. He/she will work closely with the Senior Portfolio Manager and other Portfolio Managers with the view of effectively managing the Investment Portfolios of clients in line with their Investment Objectives. The role contributes to the growth of Assets under Management (AUM) and Revenues of the business.
The role requires both strong technical and leadership capabilities. The Portfolio Manager must have a good grasp of key macroeconomic issues on Inflation, GDP, Exchange Rate Dynamics and their Policy Dynamics. It also requires a strong understanding of in-country financial markets and their execution. Peoples management is a key requirement for this role as he/she is required to manage Investment Analysts, Junior Portfolio Managers, and supervise the work of other Portfolio Managers
An understanding of Financial Statements of companies and the analysis of these statements is a must. The Portfolio Manager should be able to perform and interpret financial ratios, valuation of companies, debt capacity assessment and Yield curve positioning and analysis.
The role requires a good understanding of Investment Policy Statements of clients, and he/she is expected to formulate and recommend investment strategies for adoption and implementation subject to the approval of the Investment Committee of EDC.

JOB CONTEXT

The role requires the ability to establish and manage relationships with key actors in the financial markets such as Brokers, Treasurers of Banks, Corporate Issuers, Transaction advisors on Equity and Fixed Income issuances, and Key corporate clients such as Insurance Companies, Pensions Fund Trustees, Endowment Funds and Provident Fund Clients.
Internally, the Portfolio Manager is required to work as the Senior Portfolio Manager to manage key relationships with functional Units such as Compliance, Internal Audit, Sales and Business Development, Middle Office and Operations. It requires being on top of issues and making significant input during Management meetings of respective Asset Management business in- Country.

KEY RESPONSIBILITIES

Portfolio Construction
Development and or Identification of client’s Investment Objective. The role requires the Portfolio Manager to be able to identify client’s Investment Objectives based on interaction with the Client. This activity covers both institutional and High Net Worth Investors. For pre-determined Portfolios such as the Collective Investment Schemes, he/she is expected to clearly understand the stated investment objective of the scheme and be guided accordingly. He/she must communicate clearly with client to determine their respective desired return and risk tolerance
Choose the Optimal Asset Classes. Based on the investment objective, he/she is required to determine the most suitable. This asset mix include but not limited to Equities and Fixed Income
Implementation of Investment Strategies. He/she is expected to develop, recommend and implement investment strategies for portfolios subject to necessary approvals from the Investment Committee.
Fundamental and Technical Valuation and Analysis
The Portfolio Manager is expected to lead Equity and Fixed Income Valuation of the Portfolio Management Team. This requires a strong understanding of all key valuation methodologies such as Dividend Discount Model (DDM), Free Cash Flow to the Firm (FCFF), Free Cash Flow to Equity (FCFE), Enterprise Value and other relative valuation Techniques
Co-ordination of Financial Statement Analysis process of the Portfolio Management. For all key investment holdings, ratio, growth and trend analysis is required to be performed and must be spearheaded by the Senior Portfolio Manager.
Co-ordinate and lead Macroeconomic analysis of indicators such as Inflation, GDP, Exchange Rate, Government revenues and deficits to discover trends and patterns. This is expected to inform yield curve positioning and the strategy on fixed income asset allocation such as duration limits.
Investor Meetings and Presentations
The Portfolio Manager is expected to co-ordinate and develop a calendar for meetings with all key investors of EDC Asset Management. This is to ensure that investors are met at least twice a year.
Assist with the preparation of Investor Presentations. These presentations will cover Economic and Financial Market Reviews, Portfolio Reviews (including Key Holdings and asset mix, portfolio performance and attribution), Economic and Market Outlook, Investment Strategy and recommendation. For Pension Fund Trustees and Insurance Firms, this activity is performed on a quarterly basis.
Portfolio Analytics
Review Fund Factsheets for all Collective Investment Schemes before approval by Senior Portfolio Manager.
Perform analysis on Portfolios to discover trends with the view of Rebalancing portfolios. Key analytics required include Sharpe Ratio, Treynor Index, Sortino Ratio etc.
AuM growth analytics, asset mix dynamics, Counterparty exposure analytics, Large holding analytics and business and revenue line analytics to discover trends and sequence to inform business on areas to improve efficiency
Credit Assessment and Scoring
Develop, maintain and improve models for the assessment of Credit Risk. Must be conversant with the CAMEL Model and the parameters required for the assessment of Counterparty credit risk
Must develop, maintain and improve models for assessing debt capacity of Corporate Note and Bond issuances. Must be comfortable and conversant in forecasting debt service coverage ratios
Investment Idea Generation
Must be very involved in the development of investment solutions for clients. This involves extensive study of the market to develop new products geared at meeting client needs
Work closely with the Sales and Business Development team to fashion investment solutions or products to meet those needs
Must understand the process of product development which includes working with all key stakeholders such as regulators, senior management and key service providers to ensure the successful launch of new products
Study investment market to determine gaps in product offerings
Development of Trade Execution Strategies
Must be very well vexed in equity market dynamics, following closely price and volume movements to determine the appropriate trading strategies to be adopted.
Must work closely with Brokers to gain visibility on the happenings on the exchange to gain visibility on trade dynamics, price discovery and trajectory and mapped out optimal execution strategy
Develop fixed income trade ideas and strategy with the view improving portfolio performance and minimizing cost of trading. This involves utilizing the skill sets of the investment team to crunch big data to discover patterns and trends in the fixed income market.
Must work closely with Dealers and Brokers to gain insight on market and yield direction as well as interests for Foreign Portfolio Investors (FPI) who are key actors on the Fixed Income Market of African Markets
Board and Committee Meetings
Must prepare requisite information and reports for Investment Committee (IC) Meetings, Board Meetings of Collective Investment Schemes. This may include, working closely with the Senior Portfolio Managers and Investment Analysts to prepare the requisite reports.
Must attend and present reports to IC Members and Board members for consideration and approval.
Work on special reports as requested by IC or the Board of the Fund.

KNOWLEDGE, SKILLS & EXPERIENCE

Experience & Qualifications

Bachelor’s degree in Economics, Business, Finance, Mathematics, Statistics and Engineering
Relevant Regulatory Certification
Master’s degree in finance, Economics or an MBA is an added advantage
Professional Certification such as CFA, ACCA, CA, etc is a plus
At least 3 – 5 years’ experience in Finance and Investments

Relationship Manager, SME at Ecobank Kenya

Key Responsibilities:

SALES AND MARKETING MANAGEMENT

Put in place annually, an approved target market document with complete information on customer segmentation, target names, products, services, revenues and profitability.
Deliver set targets for deposits, risk assets, transactions and revenue and the effective management of clients.
Target assigned customer segments within allocated time and call frequency to generate profitable sales.
Ensure proper booking of all transactions of customers including deposits, loans, revenues and costs.
Continually seek new opportunities to market services and bring in new customers by thoroughly understanding the marketing and economic environment.
Track and maintain allocated performance records including sales tracker, deposits, risk assets, provisions, incomes, costs and all relevant performance indicators on a daily, weekly, monthly, quarterly and annual basis.

RELATIONSHIP MANAGEMENT & CUSTOMER SERVICE

Deliver agreed customer and product sales, wallet share and profitability targets.
Create and monitor customer sales program.
Achieve minimum of 5 products per customer.
Responsible for keeping self and supervisors up to date on competitor data and feedback provided for product and service changes or development.
Achieve minimum customer satisfaction rating of ‘very satisfied’.
Deliver appropriate product solutions and services to customers in order to deliver at least 75% of customer’s wallet.
Develop strong internal relationships to support the successful servicing of customers and the delivery of sales targets.
Build a strong local profile for self and bank through positive involvement in community activities.
Own customer complaints and resolution process in portfolio and collect all past due obligations.
Advice/update customers on all tariffs, policies, procedures and any other changes to products or accounts.
Ensure proper authorization and contact customers with regard to confirmation limits and any other account management issues.

RISK & COMPLIANCE

Ensure all credit transactions and credit files in portfolio comply with the spirit and the letter of all applicable laws, regulations and institutional policies.
Ensure compliance with operations risk e.g. KYC and anti-money laundering measures plus any other Group controls.
Ensure all credit lines are current, and all credit transactions are duly approved per policy within acceptable TAT.
Constantly monitor credit portfolio to ensure maximum of 3% NPL.
All files with PDO/Arrears position of over 30 days will be submitted to Remedial Unit with forwarding memo and copy signed by Remedial and kept in the branch
Operate within the set expense budget on a customer by customer basis.

ADMINISTRATION & TEAMWORK

Follow up on all pending transactions and ensure completion.
Maintain customer profiles and files
Submit the following in a timely manner; daily planner, call memos, sales plans, forecasts, expense refunds etc.
Provide feedback on performance of service providers.
Provide feedback to various sectors on the performance of staff e.g. IT, Operations etc.
Provide cover for other account managers or sales Managers when necessary
Provide honest feedback on performance of colleagues
Share knowledge and best practice with team members

Qualifications & Experience

Bachelor’s degree in Sales, Marketing
Minimum2 Years experience at Account Relationship Officer level Required
Sales Experience in Financial Environment
Credit Appraisal Skills

Senior Internal Auditor at Ecobank Kenya

Key Responsibilities

Carry out assigned audits after receiving the approval of the Head of Internal audit.
Check and verify a variety of accounting and operational records against set work procedures, checking to ensure compliance in all instances.
In undertaking audit assignments, check to ensure that Central Bank, Government and Bank policies and procedures are complied with fully. All exceptions to be reported.
Verify posted data and other records against source documents so as to ensure accuracy.
Identify and highlight transactions that do not appear to meet to set operating process, policies, etc.
Draft audit reports and discuss with the Head of Audit, at the end of each audit assignment.
Identify areas that require the strengthening of controls and make the necessary recommendations.
Prepare audit work papers, summaries, etc in a manner that facilitates easy review by the Chief Internal Auditor.
At the end of the audit, meet with the Managers and supervisors and discuss operational inefficiencies and the required improvements.
Conduct special investigations and other reviews as instructed by the Head Internal audit or the other members of management.
Assist in both Head office department and Branch audits.
Provide support to the external auditors as needed.

Qualification & Experience

Bachelor of Commer Accounting Option
CPA(K)
3 years’ experience in Internal Audit Department
Use of ACL – analysis tool