As part of its strategic growth ambitions, MauBank Ltd is expanding its range of services through the establishment of its Custody Business- a new sub division within its International Banking.  We are seeking an experienced and results-driven professional to lead this new function.  The role will be responsible for the overall custody operating model and set up, client servicing, risk management, regulatory compliance and business development.    

KEY RESPONSIBILITIES:

·       Set up the Custody Function: Establish the operating and process frameworks, service level agreements, develop and maintain relationships with local and international sub-custodians as well as develop staff expertise in custody operations and securities services

 ·       Drive Business growth: Growth in Asset Under Custody (AUC), promote the Bank’s Custody services to Management Companies, Funds, Pension Funds, Insurance Companies, Family Offices, Institutional Investors, etc.  Identify new revenue opportunities including corporate actions, fund services, securities administration and forex and represent the Bank in business forums or global platforms.

 ·       Oversee the good functioning: Act as a primary point of contact for Custody clients and sub custodians, oversee securities settlement activities, ensure timely processing of corporate actions, ensure accurate reconciliation of cash and securities positions, monitor service delivery standards and operational KPIs, oversee custody account opening and maintenance

 ·       Ensure strict compliance with FSC and BOM regulatory and reporting obligations within deadlines, FATF, AML/CFT, and other international frameworks, while establishing robust risk management systems to safeguard against reputational, operational, and compliance risks.

 ·       Provide strategic direction to the Head of International Banking, aligning with long-term business objectives and global expansion goals, while mentoring and developing staff into trusted advisors and specialists.

 ·       Oversee operational efficiency through advanced automation initiatives and driving continuous improvement in processes, systems, and service delivery, and ensuring data integrity, security, and resilience.

 PREREQUISITES:

·       Degree in Finance, Banking, Accounting, Business Administration or a related field.

·       A post degree or a professional qualification will be an advantage

·       Minimum 7-10 years' experience in Banking/custody/securities operations

·       Strong experience of global custody operations, securities market infrastructure, fund administration and investment operations

·       Strong cross-cultural communication skills, with experience managing diverse teams and clients across Africa, Middle East, Europe, Asia and the US

·       Proven ability to build trust with multinational corporations, institutional and non-institutional investors

·       Advanced Microsoft Excel modelling capabilities and knowledge of IFRS and hedge accounting.

SKILLS:

·       Strong knowledge of custody operations, securities markets and regulatory requirements.

·       Proven leadership, stakeholder management and business development skills.

·       Excellent communication, coaching and relationship management abilities.

·       Play a key role in building a new strategic business line within one of Mauritius' fastest-growing banks.